According to the report, the Global Audiology Devices market accounted for $8.32 billion in 2017 and is expected to reach $16.98 billion by 2026 growing at a CAGR of 8.2%.
Growing geriatric population coupled with increasing prevalence of hearing disorders, favorable government initiatives, increased R&D to develop innovative hearing aids, congenital disability, infectious disease, chronic ear infection and usage of drugs are some key factors boosting the market growth.
However, inadequate reimbursement, development of new product with high efficiency and more shelf life are hampering the market scope. In addition, technological improvements in hearing aids will be one of the main trends that will expand traction for the market during the forecast period.
North America dominates the global market followed by Europe. Owing to the rising occurrence of hearing disorders in children and adults, the demand and acceptance of hearing aids will increase gradually in the coming years in this region. Additionally, the increasing consumer awareness about hearing loss and aids and fast technological advancements in hearing aid devices, will also contribute the growth of the market in this region.
Among products, the cochlear implants segment is likely to witness highest share over the forecast period.
Key Topics Covered
1 Executive Summary
3 Market Trend Analysis
4 Porter’s Five Forces Analysis
5 Global Audiology Devices Market, By Technology
6 Global Audiology Devices Market, By Product
7 Global Audiology Devices Market, By Disease Type
8 Global Audiology Devices Market, By End-User
9 Global Audiology Devices Market, By Geography
10 Key Developments
11 Company Profiling
- William Demant
- Starkey Hearing Technologies
- Otometrics (acquired by Natus Medical)
- Nurotron Biotechnology
- GN Hearing
- Frye Electronics
- Benson Medical Instruments
- Audina Hearing Instruments
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