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Audiology Devices Market Opportunities and Forecast, 2019 - 2026
The global Audiology Devices market is estimated to grow expected to grow at noteworthy CAGR around 6 % throughout the forecast period and reach around US$ 14.8 billion by 2026.
Audiologists use audiometers, computers, and other devices to test patients' hearing ability and balance. They work to determine the extent of hearing damage and identify the underlying cause. Audiologists measure the loudness at which a person begins to hear sounds and the person's ability to distinguish between sounds and understand speech.
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.
In U.S., around 35 million Americans suffer from hearing loss and around 70 to 85% of cases are untreated. However, the increasing participation of market players to integrate traditional devices with modern telemedicine is expected to increase the treatment rate of hearing disorders. In January 2019, lively launched an online audiology platform that provides hearing aids, tests and a 24/7 online support for all clients.
In 2018, the general income share of North America dominated the market. The development of the US industry can be ascribed to the progress of audiology, an increase in the audiologists and a creation by existing suppliers of innovative digital platforms. The introduction of patient-centered audiology solutions that simplify product handling further leads to market development. The region of Asia Pacific will grow over the forecast period at the greatest CAGR. Market growth is due to growing geriatric populations and age-related hearing issues, a continuous improvement of health infrastructures, increased health care costs and consumer sensitivity.
Global Audiology Devices Market, By Product: BAHA/BAHS,Cochlear Implants,Hearing Aids,Diagnostic Devices
Global Audiology Devices Market, By Technology: Analog,Digital
Global Audiology Devices Market, By Sales Channel:Government Purchases,E-commerce,Retail Sales
Global Audiology Devices Market, By Geography:North America,Europe,Asia-Pacific,Latin America,Middle East and Africa (MEA)
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, others.
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