Global Audiology Devices Market Size study, by Product (Hearing Aids, Cochlear Implants), By Technology (Digital, Analog), By Sales Channel (Retail, E-commerce) and Regional Forecasts 2022-2028

Global Audiology Devices Market Size study, by Product (Hearing Aids, Cochlear Implants), By Technology (Digital, Analog), By Sales Channel (Retail, E-commerce) and Regional Forecasts 2022-2028

Global Audiology Devices Market is valued approximately USD 11.05 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.80% over the forecast period 2022-2028. A device meant to improve hearing by making sound perceptible to a person with hearing loss is known as an audiology device. Hearing aids are categorized as medical equipment in the majority of nations and are subject to their own legislation. The increased prevalence of hearing impairment due to the huge elderly population are majorly driving market expansion. Hearing loss caused by ageing is caused by changes in the inner ear and auditory nerve. According to the research issued by the United Nations Department of Economic and Social Affairs, there were around 703 million individuals aged 65 and over worldwide in 2019, with the number expected to quadruple to 1.5 billion by 2050. The growing number of such people is projected to drive the industry even further. Another cause of hearing loss is exposure to loud noise. Noise pollution has been identified as the leading cause of Noise-Induced Hearing Loss (NIHL) in humans, particularly adults and children. According to WHO, the use of personal audio devices may expose nearly 50% of persons aged 12-35 years to harmful levels of sound. Furthermore, around 40% of persons in that age group may be exposed to harmful levels of sound at entertainment venues. Increased hearing loss owing to increased noise pollution is expected to enhance the demand for hearing devices. Furthermore, continual technical advancements to improve client hearing experiences, as well as the advent of specialty devices tailored for veteran and current military people, are projected to bring up new potential for the sector. The expensive cost of such gadgets, on the other hand, is a big impediment to the market. However, technological improvements such as wireless devices, as well as the introduction of new features like as voice processing, Bluetooth connectivity, contactless charging, and many more, are projected to drive the industry's growth.

The key regions considered for the Global Audiology Devices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America emerged as the market leader. The progress of audiology equipment, an increase in the number of audiologists, and the launch of novel digital platforms by existing providers are all factors driving market expansion in the United States. The introduction of patient-centric audiology systems that permit easier product handling leads to increased patient compliance, which drives market growth. Over the projection period, the Asia Pacific region is expected to grow at the fastest CAGR. The growing senior population and age-related hearing issues, continually improving healthcare infrastructure, rising health-care expenditures, and increased product awareness all contribute to market growth.

Major market player included in this report are:
William Demant Holdings A/S
GN ReSound Group
Starkey Hearing Technologies
Widex A/S
Sonova Holdings AG
Phonak, Audioscan
MedRx
NHC/Amplifon
Cochlear Limited
Sonova Holding AG
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Hearing Aids
Cochlear Implants
By Technology:
Digital
Analog
By Sales Channel:
Retail
E-commerce
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Audiology Devices Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

William Demant Holdings A/S
GN ReSound Group
Starkey Hearing Technologies
Widex A/S
Sonova Holdings AG
Phonak, Audioscan
MedRx
NHC/Amplifon
Cochlear Limited
Sonova Holding AG

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.