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.
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.
The audiology devices market is segmented according to product and geography as follows:
Bone Anchored Aids for Hearing
Digital Hearing Aids
Analogue Hearing Aids
RITE (Receiver-in-the-Ear) Aids
ITE (In-the-Ear) Aids
BTE (Behind-the-Ear) Aids
Canal Hearing Aids
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