The Global Audiology Devices Market is expected to
reach USD 9,542.3 million by 2020, growing at an estimated CAGR of 5.0% from
2014 to 2020, according to a new study by Grand View Research, Inc.
Introduction of technological advancements such as wireless devices, acceptance
of these devices by the geriatric population along with increase in demand of
cost-effective and efficient devices are some of the major drivers of this market.
In addition, presence of untapped growth opportunities in emerging countries
such as India, Brazil and China and the increasing health awareness are
expected to serve this market as future growth opportunities.
Hearing aids dominated the overall market in
terms of revenue share at 64.1% in 2013. High comfort rendered by these
products, enhanced connectivity and enhanced user friendliness are some of the
factors attributing to its high usage rates and subsequently large market
share.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/audiology-devices-market
Further
key findings from the study suggest:
- Behind-the-Ear (BTE) aids dominated the hearing aid market by product in terms of share at over 55.5% in 2013 due to its ease of use and connectivity.
- Europe was the largest regional market in 2013, accounting for over 40.0% of global revenue due to the increased prevalence of deafness coupled with the presence of high patient disposable incomes and sophisticated healthcare infrastructure.
- Asia Pacific audiology devices market is expected to grow at the fastest CAGR of 7.4% from 2014 to 2020. Presence of unmet medical needs coupled with a regularly improving healthcare infrastructure coupled with growing population in emerging markets such as India and China are some of the factors attributing to its lucrative growth.
- Cochlear implants are expected witness significant growth over the forecast period, owing to its high effectiveness in terms of sentence understanding. A cochlear implant achieves an average of 80% sentence understanding as compared to hearing aids with 10% sentence understanding.
- Key industry participants of this market include William Demant Holdings A/S, GN ReSound Group, Sonova Holdings AG, Starkey Hearing Technologies, Siemens Healthcare and Widex A/S, Phonak, Audioscan, Cochlear Ltd., Interacoustics, ReSound, Rayovac, Advanced Bionics, MED-EL, Natus, Duracell, Grason-Stadler, Sophono, Oticon, MedRx, Power One, Austar Hearing, National Hearing Care, and NHC/Amplifon.
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this category @ http://www.grandviewresearch.com/industry-analysis/audiology-devices-market
For the purpose of this study, Grand
View Research has segmented the audiology devices market on the basis of
product, technology and region:
Audiology
Devices Product Outlook
• Cochlear implants
• Diagnostic devices
• Tympanometers
• Otoscopes
• Audiometers
• Bone anchored hearing aid Open
system
• Hearing Aids Market by Products
• In-the-ear aids (ITE)
• Receiver-in-the-ear aids
(RITE)
• Behind-the-ear
aids (BTE)
• Canal hearing aids:
in-the-canal (ITC), invisible-in-canal (IIC), completely-in-canal (CIC)
• Hearing Aids Market by Technology
• Digital hearing aids
• Analog hearing aids
Audiology
Devices Regional Outlook
• North America
• Europe
• Asia Pacific
• RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
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Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
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Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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