About Audiology Devices
Hearing rehabilitation with technical amplification is normally needed for permanent sensorineural hearing loss with impaired cochlear structures. Hearing aid technology has advanced dramatically in the last two decades, resulting in a higher quality hearing restoration process. Acoustic feedback can be minimised as a result of advanced signal processing, making open fitting solutions accessible to more people with higher degrees of hearing loss. The use of open fitting is an alternative, particularly for high-frequency hearing loss. Recent studies have shown that early hearing aid use in this group of patients can help to mitigate subsequent damages such as auditory loss, social alienation, dementia progression, and cognitive impairment.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 4.2% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Audiology Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GN ReSound Group (Denmark), Eargo (United States), Cochlear Limited (Austria), Sonova Holding AG (Switzerland), Siemens AG (Germany), Sivantos Pte. Ltd. (Singapore), William Demant Holding A/S (Denmark), Starkey Hearing Technologies (United States), Maico Audiological Services (United States) and Natus Medical Incorporated (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Biotronix Instruments (India), Widex A/S (Denmark), e3 Diagnostics (Demant) (United States) and Labat Asia Private Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Audiology Devices market by Type (Hearing aids, Cochlear implants, BAHA/BAHS and Diagnostic devices) and Region.
On the basis of geography, the market of Audiology Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Category, the sub-segment i.e. Digital will boost the Audiology Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online (E-Commerce Websites, Third Party Websites) will boost the Audiology Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration with Advance Technologies Including Artificial Intelligence (AI) and Growth in Health-Related E-Commerce Shopping
Market Growth Drivers:
Rising Geriatric Population and Increasing R&D Investments in Healthcare
Challenges:
Regulatory Approval and Cost Control
Restraints:
Complex Mechanism and Durability Concerns
Opportunities:
Low Penetration in Asian Region
Market Leaders and their expansionary development strategies
On 1st March, 2019 - Sivantos and Widex Enter into a Merger Agreement, the Merged Company will Operate under the name WS Audiology. The Two Pioneers Have More Than 170 Years of Cumulative Experience, which will Add to their Core Capabilities Across Audio Device Offerings.
United States, Food and Drug Administration “Regulatory Requirements for Hearing Aid Devices and Personal Sound Amplification Products” – Law Specifies What Constitutes A Hearing Aid. Hearing Aids Do Not Subject to The Same Premarket Evaluation Criteria as Cochlear Implants or Implantable Middle Ear Hearing Systems, Which Are Class III Devices That Require Premarket Clearance (PMA).
Key Target Audience
Audiology Devices Manufactures, New Entrants and Investors, Audiology Devices Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.