Based on the report, the Global Audiology Devices Market was valued at USD 9.47 billion in 2019 and is expected to reach USD 14.85 billion by 2027, at a CAGR 5.8%. Audiological devices are classified as supporting devices that help improve the hearing capacity of an individual suffering from hearing impairment and monitor and study hearing. Deafness is caused because of damage in the ears or harm caused to hearing associated nerves. These impairments happen due to exposure to loud noise, age-related factors, congenital effects, and other injuries.
As per severity, sensorineural, conductive, and mixed hearing loss are classified into mild, severe, and moderate. Communication is the most important skill one can have to build and maintain a relationship and be able to put forward essential opinions and suggestions. Major market driving factors for the growth of this market are the increasing existence of hearing impairment in old as well as young peers, government interventions for the development of the global healthcare infrastructure, higher spending power, and improved standard of living.
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Companies profiled for this market study
Widex A/S, Rayovac, Ambco, Benson Medical, Amplicomms, Trimatrix, Sonova Holdings AG, Starkey Hearing Technologies, Sophono, MED-EL, Advanced Bionics, All Hear, Cochlear Ltd., and Microson Hearing Aids.
Development of new products with high efficiency and affordable price rates, technological progressions are some other market drivers contributing to the overall growth and development of the global audiology market.
Adoption of audiological devices is rising owing to increasing number of hearing loss cases and outburst in research and development in developing and developed economies. Development of new products with high efficiency and affordable price rates, technological progressions are some other market drivers contributing to the overall growth and development of the global audiology market. Multiplying prevalence of deafness in the geriatric populated is predicted to drive during the forecast period. North America is expected to dominate the audiology devices market followed by Europe due to increased rate of deafness and higher amount available as disposable personal income.
Key findings from the report
- The clinic segments, referred to the end use, is leading the audiology devices market. Rising number of audiology clinic visits by patients affected, genetic disorders, congenital defects, hearing issues, or ENT specialists have been projected to trigger the market growth of audiology devices in the market
- Asia-Pacific market to register highest CAGR of 6.6% due to increasing prevalence of hearing disability in the growing economies of India and China
- World Wide Healing is a nonprofit organization providing hearing treatment to the poor in emerging economies of Asia. This organization provides with hearing aids manufactured in North America and Europe. Growing healthcare sector and increasing awareness among the people regarding hearing disabilities is expected to favor the growth of audiology devices market
- Cochlear implants segments are likely to garner the highest market share of 42% in the market among devices. These implants are an ideal substitute for hearing. Cochlear implants provide more than 70% of a better understanding of the sentence constructed, as compared to conventional hearing aids
- Approximately 466 million people all over the world disabling hearing loss, among which roughly 34 million of them are children aged between 0-16 years of age. It is projected that over 900 million will suffer from hearing impairment in coming 2 to 3 decades
- Rayovac, a Europe-based company, debuted its active core technology for the first time, offering the longest durable, high-quality battery in the hearing devices. Regional players are developing advanced products to establish a strong position in the global market
- Furthermore, technological progressions, collaborations, product launches, mergers and acquisitions in the audiology devices market is expected to cater to the growth and development of audiology devices market
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Segments covered in this market study
This report forecasts revenue growth at global, regional, and country levels to provide an analysis of the industry trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, the market is segmented on the basis of type, disease type, end-use, and region:
Type (Revenue in USD Million; 2017–2027)
- Cochlear implants
- Diagnostics devices
- Tympanometers
- Otoscopes
- Audiometers
- Bone-anchored hearing aids
- Technological hearing 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)
Disease type (Revenue in USD Million; 2017–2027)
- Meniere’s Disease
- Otitis Media
- Osteosclerosis
- Tinnitus
- Acoustic Tumors
- Acoustic Trauma
End-use (Revenue in USD Million; 2017–2027)
- Hospitals
- Audiology Clinics
- Rehabilitation Centers
- Others
Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- S.
- Canada
- Europe
- Germany
- France
- K.
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
- Brazil
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