LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global diagnostic hearing devices market to grow at a CAGR of almost 6% during the forecast period, according to their latest report.
The report further segments the global diagnostic hearing devices market by product application (clinical diagnosis, physical diagnosis, and screening), by end-user (hospitals, ASCs, physicians’ clinic, and research institutions), and by geography (the Americas, APAC, and EMEA).
Save more with Technavio. Buy 2 Technavio reports and get the third for free:
Technavio analysts highlight the following three market drivers that are contributing to the growth of the global diagnostic hearing devices market:
- Increasing prevalence of hearing disorders
- Growing focus on R&D
- Favorable government initiatives
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Increasing prevalence of hearing disorders
The prevalence of hearing disorders is increasing across the globe. Hearing disorders can also be a disabling hearing loss that refers to hearing impairment to sounds greater than 40 decibels (dB) in the better-hearing ear in adults and greater than 30 dB in the better-hearing ear in children.
According to a senior analyst at Technavio for orthopedics and medical devices research, “Hearing disorders can be heredity or can be caused because of congenital disability, infectious disease, chronic ear, infection, exposure to excessive noise, and old age. Several factors are responsible for hearing impairment including infections in childhood such as measles, mumps, and meningitis, exposure to excessive or prolonged noise, and chronic otitis media.”
Growing focus on R&D
The hearing diagnostics market has observed several innovations in the past years that has led to the launch of technologically advanced devices. The European Investment Bank (EIB) supports the development of new wireless hearing devices and research for more effective acoustic implants.
Diagnostic hearing devices with technologically advanced features are being developed by the major players to gain a competitive edge as well as to sustain market presence for a longer period. Hearing diagnostic devices are controlled by advanced microprocessors with sufficient storage capacity.
Favorable government initiatives
The government authorities in several countries have undertaken many initiatives to promote awareness among people with hearing disabilities. They have organized various programs and camps for the people with hearing disabilities. For instance, in US, a law known as the Americans with Disabilities Act (ADA) makes it possible for people with hearing disabilities to actively participate in business, politics, and the arts in the US without any discrimination.
The European Year of People with Disabilities 2003, protects the rights of the people with hearing disabilities in the European countries. It provides an unprecedented chance for EU institutions to attend specific concerns of disabled people in their work.
Browse Related Reports:
- Orthopedic Devices Market in Japan 2017-2021
- Global Dermatoscopes Market 2017-2021
- Global Arthroscopy Devices Market 2017-2021
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.