The global audiology devices market report provides critical insights into the industry’s trends, technology developments, market penetration, research & development activity, supply chain management, and competitive landscape. With this global survey, manufacturers and suppliers come up with comprehensive audiology device information and share their views on the current market situation. It helps in identifying new trends, new product introductions, and important product milestones. The comprehensive survey also gives a sound platform to the manufacturers and suppliers to understand the evolving business objectives, business development strategies, new technologies, marketing strategies and competition.
The demand for in-the-ear and behind-the-ear hearing aids is increasing. There has been rapid progress in the technology used for manufacturing hearing aids. The markets are witnessing convergence of technologies. The cost of these devices is comparatively lower than in the past. Most users prefer lightweight portable hearing aids which can be worn under the clothes.
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Major players in the global audiology devices market are focused on launching new products to expand their product portfolio. For instance, in January 2020, Phonak launched Phonak Virto Black, a fully-connected in-the-ear (ITE) hearing aid at CES 2020.
Global Audiology Devices Market: Drivers
High prevalence of hearing impairment is expected to propel growth of the global audiology devices market over the forecast period. For instance, For instance, according to the World Health Organization, over 900 million people will have disabling hearing loss by 2050.
Moreover, high prevalence of hearing impairment in children is also expected to aid in growth of the market. For instance, according to National Institute on Deafness and Other Communication Disorders (NIDCD), December 2016, around 2-3 in every 1,000 children in the U.S. suffered from an in-born detectable level of hearing loss in either one or both ears.
The demand for Cochlear implants is increasing in the market. Cochlear implants are very effective in management of hearing loss and tinnitus. Tinnitus is a condition which causes sound signals within the ears to vary. Cochlear implants help people suffering from this condition because they actually stimulate the nerve endings in the inner ear, thus rewiring the cochlea to work better.
North America is expected to witness significant growth in the global audiology devices market, owing to increasing geriatric population in the region. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
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Global Audiology Devices Market: Competitive Landscape
Major players operating the global audiology devices market include, Advanced Bionics, AllHear, Ambco, Amplicomms, Benson Medical, Cochlear Ltd., Microson Hearing Aids, Rayovac, Sonova Holdings AG, Starkey Hearing Technologies, Sophono, MED-EL, Tremetrix, Widex A/S.
Global Audiology Devices Market: Key Developments
Major players in the global audiology devices market are focused on offering advanced products to enhance their market share. For instance, in February 2020, Phonak made available Marvel technology in an expanded portfolio of custom in-the-ear (ITE), super-power, and pediatric hearing aids across multiple performance levels.
Reasons to Purchase this Report
• Current and future of global Audiology Devices market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Table of Content
Global Audiology Devices Market Research Report
Section 1: Global Audiology Devices Industry Overview
Section 2: Global Economic Impact on Audiology Devices Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Audiology Devices Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
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