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  • 22 November 2019 22:55

Audiology Devices Market to Rise at an Impressive 6% CAGR | US$ 14.8 Bn by 2026

The audiology devices market analysis research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

According to ARC, the global audiology devices market is expected to reach the market value of around $14.8 billion by 2026 and is expected to grow at a CAGR of around 6 % in terms of revenue during the period 2019 - 2026. The report provides analysis of the global Audiology Devices market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.

Audiology equipment is an electronic instrument for the diagnosis and treatment of impaired hearing. For instance, the congenital audition issue and nerve deafness, these instruments are very efficient. Three types of hearing losses are sensorineural, conductive and blended, and are organized into mild, severe, moderate and deep according to severity. Audiological devices take on importance throughout the globe, because correspondence is the most important know-how that improves links and maintains independence. On the contrary, the elevated costs connected with the appearance of audiological instruments for alternatives used in surgeries and social stigma function as important restrictions for this industry. Nevertheless, the untapped possibilities for players in developing nations, such as Brazil, China and India and increasing health awareness are important opportunities for players to gain momentum in the worldwide audiology industry.

Download Free Sample Copy of Audiology Devices Market Report@ https://www.acumenresearchandconsulting.com/request-sample/1512

Audiology devices are electronic instruments for the diagnosis and therapy of hearing impairment and/or hearing loss by audiologists. They are also used for auditory surveillance or study. Often ancient age is affected by hearing impairment or frequent hearing loss and is worldwide increasing. The large prevalence of hearing difficulties is precipitated by the increasing population and the increasing incidence of disability and hearing loss among younger generations. Moreover, this market is driven by the cosmetic attraction of hearing aids and a high incidence of survival. Furthermore, technological advances, cost-effective and effective devices (such as wireless phones) and wide adoption of new appliances by the geriatric population are also anticipated to boost the development of the industry.

The costly alternatives used in operations and social stigma linked to the appearance of audiology instruments are significant limitations for this industry, on the other side. Nevertheless, untapped opportunities for players to gain momentum on the worldwide market of audio systems in emerging countries such as Brazil, China and India, increased awareness and public initiatives to provide better health care facilities.

In 2018, the general industry dominated North America with respect to income shares. The development of the US industry can be ascribed to advances in audiology technologies, the growth of audiologists and the introduction by present suppliers of innovative digital platforms. The introduction of patient-centric audiology systems, which simplify the handling of the products, further leads to patient adherence and market development.

Over the forecast period, the Asia-Pacific region will grow at the largest CAGR. Market development can be ascribed to the growing Geriatric population and hearing issues associated with age, the constant improvement of health facilities, increased healthcare costs and increased consumer awareness.

In the foreseeable future, Germany's market should witness strong development. The high incidence of hearing impaired individuals will stimulate demand for audiology equipment. It is still the profitable market for company development with 20 percent of German auditory loss population using hearing aids. Growing awareness-raising initiatives for prospective auditory aid users, advanced facilities and the accessibility of qualified staff will foster development in the sector.

The growing pool of patients with hearing impairments and positive public initiatives is boosting the demand for audiology instruments in India. However, the sector development will be hindered by high price for audiology instruments, lack of consciousness and poor access to health facilities.

In a strong CAGR over timeframe, China's market for audiology instruments is anticipated to expand due to a big patient pool. The sector will be driven over the forecast period by increasing public assistance and developing healthcare infrastructure. Low knowledge of sophisticated audiology systems will, however, in some respects impede sector development.

As the amount of hearing loss cases increases and a burning out in studies and growth in advanced and developed countries, the adoption of audiological devices increases. Development of fresh high effectiveness and inexpensive pricing goods and technological advances are other driving forces contributing to worldwide audiology market growth as well as development. During the forecast period it was expected that the incidence of deafness in the geriatric population would increase.

Key Players & Strategies

The main players in the market include are Sonova Holdings AG, GN ReSound Group, MedRx, and NHC / Amplifon, Starkey Hearing Technologies, William Demant Holdings A / S, Widex A / S, Phonak, Audioscan, and others.

Mergers & acquisitions, the creation of new goods, joint-ventures and partnerships form the strategies of these market actors. In March 2019, for instance, Sivantos Pte the company was merged into WS Audiology, which formed a varied range of audio assistance products including Signia, Widex and Rexton. Widex A. and Ltd. finished a company fusion.

Market Segment Analysis:

Acumen Research report focuses on market attractiveness by assessing the key market segments. The report also combines region-wise segments for a better understanding of the supply and demand ratio of the global audiology devices market. This exclusive study of the report analyzes the present and future market scenario and the industry trends that are influencing the growth of the segments. Besides, the report also covers the value chain analysis, supply chain analysis, and year-on-year basis analysis of the global audiology devices market.

Market Segmentation

Market, By Product

  • BAHA/BAHS
  • Cochlear Implants
  • Hearing Aids
  • Diagnostic Devices

Market, By Technology

  • Analog
  • Digital

Market, By Sales Channel

  • Government Purchases
  • E-commerce
  • Retail Sales

Market Regional Analysis:

Based on the regions, the global audiology devices market is segmented into -North America (US and Canada), Europe (UK, Germany, France, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of Asia-Pacific), Latin America (Mexico, Brazil and Rest of Latin America), Middle East & Africa (GCC, South Africa and Rest of MEA)

Major Topics Covered in this Research Report –

CHAPTER 1. INDUSTRY OVERVIEW

CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS

CHAPTER 3. MANUFACTURING PLANTS ANALYSIS

CHAPTER 4. AUDIOLOGY DEVICES MARKET BY PRODUCT

CHAPTER 5. AUDIOLOGY DEVICES MARKET BY TECHNOLOGY

CHAPTER 6. AUDIOLOGY DEVICES MARKET BY SALES CHANNEL

CHAPTER 7. NORTH AMERICA AUDIOLOGY DEVICES MARKET BY COUNTRY

CHAPTER 8. EUROPE AUDIOLOGY DEVICES MARKET BY COUNTRY

CHAPTER 9. ASIA-PACIFIC AUDIOLOGY DEVICES MARKET BY COUNTRY

CHAPTER 10. LATIN AMERICA AUDIOLOGY DEVICES MARKET BY COUNTRY

CHAPTER 11. MIDDLE EAST AUDIOLOGY DEVICES MARKET BY COUNTRY

CHAPTER 12. AFRICA AUDIOLOGY DEVICES MARKET BY COUNTRY

CHAPTER 13. COMPANY PROFILE

CHAPTER 14. RESEARCH APPROACH

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