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Audiology Devices Market 2020 by industry trends, statistics, key companies growth and regional forecast

Author : Ronak Bora | Published Date : 2020-09-11 

Audiology Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The rising elderly population will augment the audiology devices market growth over the coming years as cases of hearing loss and the issues associated with it increase in tandem with the growth of this demographic. Elderly population generally suffers from age-associated high frequency hearing loss, which creates problems for them to understand sounds and speech. This type of hearing loss is gradual and increase in severity overtime, adversely affecting the daily activities along with overall functioning of the elderly. Consequently, people aged 60 years and above who suffer from hearing loss rely heavily upon advanced audiology devices, which is likely to encourage the industry growth.

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As per a research report by Global Market Insights, Inc., audiology devices market is estimated to exceed $11 billion valuation by 2025.

It is undeniable that hearing aids are the most convenient clinical intervention for hearing deficiencies, subject to which they have procured a substantial proportion of audiology devices industry share. Estimates state that behind-the-ear (BTE) hearing aids based audiology devices market size is likely to record a CAGR of 3% over 2019-2025, owing to the rising preference for these devices by people who have mild to severe hearing loss.

BTE hearing aids generally are larger in size and can amplify sound more efficiently than their peers. They are also more durable and can be easily maintained, leading to enhanced product demand and robust proliferation rise in the industry trends.

It has been observed that recent technological advancements have led to an increasing deployment of alternative hearing devices. Growing awareness and utilization of cochlear implantation (CI) can be majorly attributed to this fundamental aspect, driven by its cost-effective outcome-based solutions.

It is imperative to mention here that the utilization rate of cochlear implantation in a major part of the world is higher for children than geriatric populace. This is synonymous with the U.S. audiology devices market trends – the utilization rate among children having appropriate audiological profile is nearly 50% in the region, whereas it is less than 5% for the adult profile.

When being surveyed on a much larger base of adults than children who suffer from profound hearing loss, it has been observed that cochlear implantation surgeries in the country cover 60% adults and 40% children. Despite the fact that this technology has received FDA approval long back, experts believe dearth of proper awareness campaigns is somewhat hindering its full-fledged optimization in audiology devices market.

Despite the minimal lack of awareness on cochlear implants, the U.S. contributed enormously to the expansion of North America audiology devices market outlook. Estimates claim that the North America audiology devices industry size was worth USD 2.5 billion in 2018, pertaining to the rising demand for advanced hearing aids.

Not to mention, numerous organizations in the region have been working to implement programs that would increase the awareness as well as accessibility to audiology devices.

The ongoing research activities are certain to open new doors of opportunities for audiology devices market, through which unconventional hearing device manufacturers seem to garner profits. Add to it, growing geriatric populace vulnerable to hearing deficits is bound to create massive demand for product innovation in the marketplace. In this regard, experts claim, implementation of stringent regulatory norms related to hearing devices will have a significant impact on the product development.

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/audiology-devices-market-report

Partial Chapter of the Table of Content 

Chapter 4. Audiology Devices Market, By Product

4.1. Key segment trends

4.2. Hearing aids

4.2.1. Market size, by region, 2014-2025 (USD Million)

4.2.2. In-the-ear hearing aid (ITE)

4.2.2.1. Market size, by region, 2014-2025 (USD Million)

4.2.3. Receiver-in-the-ear (RITE)

4.2.3.1. Market size, by region, 2014-2025 (USD Million)

4.2.4. Behind-the-ear (BTE)

4.2.4.1. Market size, by region, 2014-2025 (USD Million)

4.2.5. Canal hearing aids ITC, CIS and IIC

4.2.5.1. Market size, by region, 2014-2025 (USD Million)

4.3. Cochlear implants

4.3.1. Market size, by region, 2014-2025 (USD Million)

4.4. BAHA/BAHS

4.4.1. Market size, by region, 2014-2025 (USD Million)

4.5. Diagnostic devices

4.5.1. Market size, by region, 2014-2025 (USD Million)

4.5.2. Tympanometers

4.5.2.1. Market size, by region, 2014-2025 (USD Million)

4.5.3. Otoscopes

4.5.3.1. Market size, by region, 2014-2025 (USD Million)

4.5.4. Audiometer

4.5.4.1. Market size, by region, 2014-2025 (USD Million)

Chapter 5. Audiology Devices Market, By Region

5.1. Key regional trends

5.2. North America

5.2.1. Market size, by country, 2014 - 2025 (USD Million)

5.2.2. Market size, by product, 2014 – 2025 (USD Million)

5.2.3. U.S.

5.2.3.1. Market size, by product, 2014 – 2025 (USD Million)

5.2.4. Canada

5.2.4.1. Market size, by product, 2014 – 2025 (USD Million)

5.3. Europe

5.3.1. Market size, by country, 2014 – 2025 (USD Million)

5.3.2. Market size, by product, 2014 – 2025 (USD Million)

5.3.3. Germany

5.3.3.1. Market size, by product, 2014 – 2025 (USD Million)

5.3.4. France

5.3.4.1. Market size, by product, 2014 – 2025 (USD Million)

5.3.5. UK

5.3.5.1. Market size, by product, 2014 – 2025 (USD Million)

5.3.6. Italy

5.3.6.1. Market size, by product, 2014 – 2025 (USD Million)

5.3.7. Spain

5.3.7.1. Market size, by product, 2014 – 2025 (USD Million)

5.4. Asia Pacific

5.4.1. Market size, by country, 2014 – 2025 (USD Million)

5.4.2. Market size, by product, 2014 – 2025 (USD Million)

5.4.3. China

5.4.3.1. Market size, by product, 2014 – 2025 (USD Million)

5.4.4. Japan

5.4.4.1. Market size, by product, 2014 – 2025 (USD Million)

5.4.5. India

5.4.5.1. Market size, by product, 2014 – 2025 (USD Million)

5.4.6. Australia

5.4.6.1. Market size, by product, 2014 – 2025 (USD Million)

5.4.7. South Korea

5.4.7.1. Market size, by product, 2014 – 2025 (USD Million)

5.5. Latin America

5.5.1. Market size, by country, 2014 – 2025 (USD Million)

5.5.2. Market size, by product, 2014 – 2025 (USD Million)

5.5.3. Brazil

5.5.3.1. Market size, by product, 2014 – 2025 (USD Million)

5.5.4. Mexico

5.5.4.1. Market size, by product, 2014 – 2025 (USD Million)

5.6. MEA

5.6.1. Market size, by country, 2014 – 2025 (USD Million)

5.6.2. Market size, by product, 2014 – 2025 (USD Million)

5.6.3. Saudi Arabia

5.6.3.1. Market size, by product, 2014 – 2025 (USD Million)

5.6.4. South Africa

5.6.4.1. Market size, by product, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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