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World Audiology Devices Market - Opportunities and Forecasts, 2017 - 2023

  • ID: 3773130
  • Report
  • Region: Global
  • Allied Analytics LLP
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Audiology devices are electronic devices used by audiologists for the diagnosis and treatment of hearing impairment or hearing loss. They are also used for monitoring or studying hearing. Hearing impairment or frequent hearing loss is often associated with old age and is a growing problem globally. The high prevalence of hearing problems is precipitated by the growing ageing population and the rising incidence of impairment and loss of hearing among younger generations; these factors are therefore the key drivers for this market. Moreover, the cosmetic appeal of hearing devices and high prevalence of deafness is spurring the growth of this market. Additionally, technological advancement, cost-effective and efficient devices (such as wireless devices), and widespread acceptance of novel devices amongst the geriatric population is also expected to fuel market growth.

On the other hand, the high cost of solutions used in surgeries and social stigma associated with the appearance of audiology devices act as major restraints for this market. Nevertheless, the untapped opportunities in emerging countries such as Brazil, China and India, growing health awareness and government initiatives to provide improved healthcare services are the key opportunities for players to gain traction in the global audiology devices market. The key companies profiled in this market are GN ReSound Group, Cochlear Limited, Sonova Holding AG, Siemens Healthcare, William Demant Holding A/S, Widex A/S, Starkey Hearing Technologies and others.

The global audiology devices market is segmented into product type and geography. On the basis of product type the market is segmented into bone anchored aids for hearing, cochlear implants, hearing aids and diagnostic devices. Hearing aids dominate the market as they are comfortable, user friendly and possess superior connectivity. Additionally, cochlear implants are witnessing the highest growth rate in the overall market during the forecast period, due to technological advancements and rising demand from consumers. In terms of geography, the market is segmented into various regions such as North America, Europe, Asia Pacific and LAMEA. European countries hold the largest market share. This is attributed to the prevalence of deafness and growing awareness regarding the technology in these countries. The Asia-Pacific region shows the highest CAGR during the forecast period due to the large customer base, the attempts made by key players to educate consumers and growing awareness regarding the benefits of using hearing aids.

KEY BENEFITS

Extensive analyses of the factors that drive and limit the growth of the audiology devices market are provided.
Deep dive analysis of segments such as equipment products, technologies, applications and procedures provide insights that would enable companies to gain competitive edge.
In-depth analysis of various regions would give a clear understanding of the trends in various regions so that companies can make region specific plans.
The competitive landscape section lists the market shares held by the leaders in the industry along with the key strategies adopted by them to gain high monetary value.

Key deliverables

The audiology devices market is segmented according to product and geography as follows:

By Products

Bone Anchored Aids for Hearing
Cochlear Implants
Hearing Aids

By Technology

Digital Hearing Aids
Analogue Hearing Aids

By Type
RITE (Receiver-in-the-Ear) Aids
ITE (In-the-Ear) Aids
BTE (Behind-the-Ear) Aids
Canal Hearing Aids

ITC (In-the-Canal)
CIC (Completely-in-Canal)
IIC (Invisible-in-Canal)

Diagnostic devices
Tympanometers
Audiometers
Otoscopes

By Geography

North America
Europe
Asia Pacific
LAMEA



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Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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