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The Global Audiology Devices Market to Progress at a CAGR of 5.63% During the Forecast Period (2022–2027) | DelveInsight

·8 min read
DelveInsight Business Research LLP
DelveInsight Business Research LLP

The audiology devices market is expected to surge owing to the rise in the prevalence of hearing disorders, increased exposure to high-frequency sounds, and others. In addition, the rising geriatric population who are more susceptible to developing hearing impairments are also likely to propel the global audiology devices market.

New York, USA, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The Global Audiology Devices Market to Progress at a CAGR of 5.63% During the Forecast Period (2022–2027) | DelveInsight

The audiology devices market is expected to surge owing to the rise in the prevalence of hearing disorders, increased exposure to high-frequency sounds, and others.  In addition, the rising geriatric population who are more susceptible to developing hearing impairments are also likely to propel the global audiology devices market.

DelveInsight's Audiology Devices Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, audiology devices market drivers, barriers, and trends, and key audiology devices companies in the market.

Key Takeaways from the Audiology Devices Market Report

  • As per DelveInsight analysis, North America is anticipated to dominate the global audiology devices market during the forecast period.

  • Leading audiology devices companies such as Amplifon, Audina Hearing Instruments, Inc., Sonova Holding AG, Demant A/S, Audifon GmbH & Co. KG, Cochlear Limited, MED-EL Medical Electronics, Envoy Medical, Ototronix, Starkey Hearing Technologies, Hill-Rom Holdings, Inc. (Baxter), American Diagnostic Corporation, HEINE Optotechnik, Kirchner & Wilhelm GmbH + Co KG, Arphi Electronics Private Limited, Foshan Vohom Technology Co., Ltd., RION Co., Ltd., WS Audiology Denmark A/S, JEDMED, WiscMed, LLC, and several others are currently dominating the audiology devices market.

  • In June 2021, Oticon received FDA pre-market approval (PMA) for its Neuro Cochlear implant system indicated to treat severe to profound sensorineural hearing loss.

  • On April 21, 2021, Hillrom launched the new Welch Allyn® MacroView® Plus Otoscope to enhance caregivers' views and support in the early diagnosis and treatment of diseases.

  • In March 2021, Cochlear received FDA clearance for Baha 6 Max, the industry's smallest 55 dB sound processor with direct android streaming.

  • On February 01, 2021, GN Hearing, the global leader in hearing aid innovation, launched ReSound Key™ hearing aid portfolio with an advanced chip platform and GN’s Organic Hearing philosophy enabling patients to connect with others during social isolation.

To read more about the latest highlights related to audiology devices, get a snapshot of the key highlights entailed in the Global Audiology Devices Market Report

Audiology Devices

Audiology device is a sound-amplifying instrument used by people with hearing impairments. Audiology devices are also used to monitor and investigate hearing. Hearing impairment or frequent hearing loss is frequently related with aging and is a developing global problem. The device mainly comprises three components, a microphone that collects the sound, an amplifier circuit that magnifies the sound, a receiver that delivers the amplified sound into the ear canal, along with batteries to power the electronic parts.

Audiology Devices Market Insights

Geographically, the global audiology devices market is studied for North America, Europe, Asia-Pacific, and the Rest of the World. In terms of revenue share, North America currently leads the global market and is projected to hold its audiology devices market position during the study period. This domination is attributed to the increasing prevalence of hearing disorders such as acute otitis media, along with the availability of user-friendly, rechargeable, and pocket-friendly audiology devices in North America.

Furthermore, increased emphasis on product developmental activities and increased participation of device manufacturers to launch new and advanced audiology devices with the latest developments is further expected to bolster the growth of the regional audiology devices markets.

To know more about why North America is leading the market growth in the audiology devices market, get a snapshot of the Audiology Devices Market Trends 

Audiology Devices Market Dynamics

The global audiology devices market is projected to witness considerable growth owing to the rising prevalence of hearing loss and deafness across the globe, to an increase in the approval of various audiology devices, integration of advanced technology to the existing product, and rise in several initiatives undertaken by the government and various organizations to support research in the field of audiology devices, among others.

However, certain factors such as the high-cost hearing aid devices and battery-associated problems, thus involving limitations, may restrict the audiology devices market growth.

Additionally, the unprecedented outbreak of the COVID-19 pandemic has dived down the audiology devices market growth. One of the major steps during this was the suspension of numerous elective procedures, and outpatient visits which reduced the demand for audiology devices in the market as a large number of surgeries across different medical specialties were suspended during the initial lockdown period, thereby limiting the audiology devices market growth for a short time. The cancellation of elective surgeries in the hospital during the pandemic situation was done to prevent the transmission of the disease among patients as most of the population receiving audiology devices in various forms, such as hearing aids or implants, belonged to the old age group, who were more susceptible to get infected. However, the resumption of activities across various domains, including the healthcare sector, presents a positive future outlook for the audiology devices market during the forecast period from 2022-2027.

Get a sneak peek at the audiology devices market dynamics @ Audiology Devices Market Dynamics Analysis
Scope of the Audiology Devices Market Report

  • Coverage: Global

  • Study Period: 2019–2027

  • Market Segmentation By Product Type: Instruments, Reagents & Kits, Services

  • Market Segmentation By Application: Diagnostic, Research, Others

  • Market Segmentation By End User: Hospitals & Diagnostic Laboratories, Academic & Research Institutes, Others

  • Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World

  • Key Audiology Devices Companies: Amplifon, Audina Hearing Instruments, Inc., Sonova Holding AG, Demant A/S, Audifon GmbH & Co. KG, Cochlear Limited, MED-EL Medical Electronics, Envoy Medical, Ototronix, Starkey Hearing Technologies, Hill-Rom Holdings, Inc. (Baxter), American Diagnostic Corporation, HEINE Optotechnik, Kirchner & Wilhelm GmbH + Co KG, Arphi Electronics Private Limited, Foshan Vohom Technology Co., Ltd., RION Co., Ltd., WS Audiology Denmark A/S, JEDMED, WiscMed, LLC, among others

  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOLs Views, Analysts View

DelveInsight Analysis: The audiology devices market size is expected to grow at a CAGR of 5.63% to reach about USD 12.08 billion by 2027.

Which MedTech key players in the audiology devices market are set to emerge as the trendsetter explore @ Audiology Devices Companies

Table of Contents 

1

Report Introduction

2

Executive summary

3

Regulatory and Patent Analysis

4

Key Factors Analysis

5

Porter’s Five Forces Analysis

6

COVID-19 Impact Analysis on Audiology Devices Market

7

Audiology Devices Market Layout

8

Global Company Share Analysis – Key 3-5 Companies

9

Audiology Devices Market Company and Product Profiles

10

Project Approach

11

About DelveInsight

Interested in knowing the audiology devices market by 2027? Click to get a snapshot of the Audiology Devices Market Outlook

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.

CONTACT: Contact Us Shruti Thakur  info@delveinsight.com  +1(919)321-6187  https://www.delveinsight.com/medical-devices