Audiological Devices Market
Market Outline: Audiological Devices Market
Deafness is a consequence of a weakness in the ear or harm to the nerves related with hearing. The foundations for these imperfection incorporate innate deformities, wounds, maladies, symptoms of solutions, age-related elements, and introduction to exposure to loud noise. Audiology devices are assistive devices that assistance improve hearing capacity of patients. These gadgets differ based on estimate, shape, highlights, and hearing conditions. These gadgets are pointed towards demonstrative purposes and for the treatment of disabilities related with hearing.
Market Dynamics: Audiological Devices Market
Global Audiological Devices market is driven by the technological advancements in the Audiological Devices, product customizations and strategies of the market players to reach the wide number of patients. According to World Health Organization (WHO), 360 million people living with disabling hearing loss currently worldwide. One in three people of over the age 65 has a form of hearing loss, and approximately 37 Mn people can be benefited by the use of an implantable Audiological Devices such as a bone conduction implant or a cochlear implant. Furthermore, market players launched new advanced products such as Audiological Devices with advancements like noise reduction and connecting to mobile devices. With the light of these advancements Audiological Devices market is expected to grow at significant rate over the forecast period. However, high cost of devices and lack of awareness regarding available devices are hindering the Audiological Devices market.
Market Scope: Audiological Devices Market
The Audiological Devices Market is classified on the basis of, product, application, end user, and geographical regions.
Based on product, Market is segmented as
- Cochlear Implants
- Diagnostic Devices
- Bone-anchored Hearing Aids
- Technological Healing Aids
- Hearing Aids
Based on Application, Market is segmented as
- Otitis Media
- Ménière´s Disease
- Acoustic Tumors
- Acoustic Trauma
Based on End User, Market is segmented as
- Audiology Clinics
- Rehabilitation Centers
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Market Summary: Audiological Devices Market
Audiological Devices work by amplifying sound, but it is only useful for people with the partial hearing loss not for people who are deaf or have profoundly impaired hearing. Hearing loss is associated with the damage or other abnormalities in the tiny censor hair cells present inside the cochlea or inner ear. According to WHO, there are more than 360 million people in the world affected by hearing loss disability. Hearing loss is one of the leading global disorder. As stated by the Royal National Institute for Deaf People, the prevalence of disorder increases with age, affecting 70% of people over 70 and 42% people over 50.Geriatric people are highly susceptible to hearing loss which can affect their social life. Due to this factor, Audiological Devices market is expected show significant growth. Untreated hearing loss among new born can affect their entire life. As it can lead to impairment in speaking and affect their psychological abilities. But due to technological advancement and development of Audiological Devices, it is now possible to help these children. Also due to increasing awareness and better diagnostic facilities to detect the problem number of cases are being registered among new born children.
Regional Analysis: Audiological Devices Market
Geographically Audiological Devices Market is segmented as Latin America, North America, Asia- Pacific, The Middle East & Africa and Europe. The largest share in the Audiological Devices market is held by the North America. This can be attributed to the better diagnostic facilities and increasing awareness among the people in this region. The U.S. and Canada are the major contributors to the global Audiological Devices market in North America. Growth in North America is followed by Europe and Asia-Pacific mainly due to the large population, vast technological advancements in Audiological Devices, and increasing income of the individuals. Countries such as China, Japan, and India in Asia Pacific and Germany, the U.K., Italy, Spain, and France in Europe are at the forefront of the market growth in these regions. A considerable share of the market growth is also put forth by Latin America and the Middle East and Africa.
Market participants: Audiological Devices Market
Some of the players in Audiological Devices Market
- Cochlear (Australia), MED-EL (Austria), Sonova Holding AG (Switzerland), The William Demant Holding Group (Denmark), Nurotron Biotechnology Co. Ltd. (U.S) and Microson (Spain)