DUBLIN--(BUSINESS WIRE)--The "Global Audiology Devices Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2017 - 2023" report has been added to Research and Markets' offering.
The audiology devices market was valued at USD 9,180.4 Mn in 2017, and is expected to reach USD 12,759.8 Mn by 2025, expanding at a CAGR of (5.4%) from 2017 - 2025.
Increasing base of aging population, mounting prevalence of hearing loss, rising patient's awareness and favorable reimbursement policies in developed countries are the key factors assisting the growth of audiology devices market. Hearing aids was the leading product segment of this market due to rising application rate of these devices along with the introduction of advanced and novel digital technology and aesthetically attractive hearing aids.
Many hearing aids manufacturers have been offering hearing aids that can be embedded deep in the ear, thus becoming visually hidden. The latest behind-the-ear hearing aids are being made available in sizes so small that they are not easily visible and are connected to the ear with very thin and invisible tubes. The Invisible-in-Canal (IIC) hearing aids are designed to appeal to patients with cosmetic concerns. Such hearing aids are 100% undetectable by others.
In base year 2015, Europe accounted for the largest market share of 40.1% mainly due to rising prevalence of hearing impairment, mounting public awareness related with diagnosis, high market penetration of novel and advanced products accompanied with the presence of supportive reimbursement policies. Hence, the development of audiology devices market in this region is also projected to witness a significant growth owing to the presence of supportive and uniform government regulations across the Western European region.
Key Market Movements:
- Market experts suggest that, significantly rising market penetration and acceptance of digital hearing aid technology and demand for aesthetically attractive hearing aids are additional key factors responsible for growth of overall market
- Increasing prevalence of deafness and hearing loss is one of the highest impact rendering drivers of the audiology devices market on account of the fact that increase in the prevalence of these disorders has a direct impact on the customer base
- High prices associated with hearing impairment solutions especially surgery based is expected to restrain market growth during the forecast period
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Global Audiology Devices Market Overview
Chapter 4 Global Audiology Devices Market Analysis, By Product Type
Chapter 5 Global Audiology Devices Market, By Geography
Chapter 6 Company Profiles
- Benson Medical
- Advanced Bionics
- GN ReSound Group
- TV Ears
- William Demant Holding A/S
- Sonova Holdings AG
- Widex A/S
- Starkey Hearing Technologies
For more information about this report visit https://www.researchandmarkets.com/research/7ksbk6/global_audiology