Audiology Devices Market - Global Industry Insights, Trends, Size, Share, Outlook, and Analysis, 201
Posted: Nov 10, 2017
Deafness is encountered mainly as a result of an impairment in the ear or damage to the nerves associated with hearing. The causes for these defects may range as congenital defect, injury, disease, side effects of medications, age-related factors, exposure to loud noise, and others. Audiology devices refers to assistive tools that helps a person to enhance its hearing ability under certain medical conditions that results into inability to hear. The audiology devices are available in various sizes, shapes, features, and hearing conditions. These devices are aimed towards diagnostic purposes as well as for the treatment of impairments associated with hearing. Technological advancements in the field of audiology devices, such as PC-based audiometers and hybrid audiometers are expected to play a vital role in fostering the growth of global audiology devices market, as these devices can easily be integrated with standard computers and operating systems resulting in improved diagnostic performance and treatment decisions.
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Rising incidence of hearing impairments are expected to drive the growth of audiology devices across the globe
The audiology market possess a very vast commercial base as hearing problems could affect all the age groups varying from children to geriatric people. According to National Institute on Deafness and Other Communication Disorders (NIDCD), December 2016, approximately 2-3 out of every 1,000 children in the U.S. suffered with an in-born detectable level of hearing loss in either one or both of the ears. Moreover, According to the reports of Hearing Loss Association of America (HLAA), 2017, approximately 20% of Americans accounting up to 48 million people are suffering with some degree of hearing issues and hearing loss. On a global scale, hearing disorders affects approximately 360 million people, according to statistical analysis conducted by World Health Organization (WHO), in 2016, out of which 32 million are children. The massive number of victims suffering from hearing disorders is expected to favor the growth of audiology devices market.
The global audiology devices market by Coherent Market Insights is segmented on the basis of device type, disease type, end user, and region:
On the basis of device type, the global audiology devices market is segmented into:
Cochlear Implants,Diagnostic Devices,Tympanometers,Octoscopes,Audiometers,.
Bone-Anchored Hearing Aids,Technological Healing Aids,Digital Hearing Aids,Analog Hearing Aids,.
Hearing Aids,In-The-Ear Hearing Aids (ITE),Receiver-In-The-Ear hearing Aids (RITE),Behind-The-Ear Hearing Aids (BTE),Canal Hearing Aids (CHA),.
Cochlear implants segment among the device type are expected to witness maximum traction over the forecast period, as these implants serves to be an ideal substitute for hearing. The cochlear implants provides approximately 80% understanding of a sentence as compared to that of the conventional hearing aids that provides an average of 10% understanding. The cochlear implants uses a technology that bypasses the impaired sensory hair cell and then allows to present a virtual sense of sound.
On the basis of disease type, the global audiology devices market is segmented into:
Otitis Media,Ostosclerosis,Tinnitus,Ménière´s Disease,Acoustic Tumors,Acoustic Trauma,.
On the basis of end user, the global audiology devices market is segmented into:
Hospitals,Audiology Clinics,Rehabilitation Centers,Others,.
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North America to dominate global audiology devices market, owing to significant investments in research and development of innovate models
On the basis of geography, the global audiology devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is the leading geographical region in the global audiology devices market, owing to the presence of majority of key players as well as consistent technological development in the field of audiology. In October 2017, Widex USA, Inc. announced the completely redesigned hearing aid named WIDEX CUSTOM that offered around 40% smaller engine, as compared to that of the previous models. Several such technological advancements coupled with established healthcare infrastructure, novel and innovative findings are the factors responsible for North America to be the regional dominator in the global audiology devices market. On the other hand, Asia Pacific is expected to witness the maximum growth rate over the forecast period, owing to incorporation of various initiatives in the healthcare sector by regional government bodies and Non-Government Organizations. For instance, World Wide Healing is a non-profit organization working majorly for emerging economies in Asia Pacific to provide hearing treatment to the poor people. This organization helps the people with new digital hearing aids that are shipped from manufacturers in North America and Europe. Moreover, the developing healthcare facilities and rising awareness among public sector is also expected to favor the audiology devices market growth in Asian economies.
The major factor responsible for driving the growth of global audiology devices market is the global rise in incidence of hearing impairment among all the age groups. According to Centers for Disease Control and Prevention (CDC), 2014, approximately 87% infants were diagnosed with hearing incapability suggesting demand for audiology assistive devices and implants. Various other factors responsible for propelling the market growth includes, government initiatives for healthcare infrastructure improvement and investments by leading and local players into R&D. However, the high costs associated with the devices, especially hearing implants that are most effective devices are restricting the market growth. On the other hand, development of cost-effective devices at affordable process as well development of products with longer shelf life and narrow price rates are expected to drive the shift of price-sensitive customer base acting as a potential market opportunity.
The key players operating the global audiology devices market include Widex A/S, Rayovac, Ambco, Benson Medical, Amplicomms, Tremetrix, Sonova Holdings AG, Starkey Hearing Technologies, Sophono, MED-EL, Advanced Bionics, AllHear, Cochlear Ltd., Microson Hearing Aids, and others. Key players are adopting and implementing various strategies, such as product development and innovations, joint ventures, partnerships, and others so as to attract a wide customer base towards itself. Regional players are also coming up with innovative products grabbing opportunities to establish themselves in the global market. For instance, Rayovac, a Europe based company debuted its active core technology for the first time offering longest durable high-quality battery in the hearing devices.
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