Customizable Options Making Audiological Devices More Appealing, Inadvertently Fuelling Market Growth
Taking a cue from the growing need for hearing aids, players in the audiological devices market are leveraging the prowess of technology to develop feature-rich hearing aids. Such developments remain central to the growing adoption of audiological devices, on account of their cosmetic appeal. In future, the trend of custom development of hearing aids to match an individual’s skin tone and ear size would gain momentum.
As per a study published by the World Health Organisation (WHO), in 2019, the prevalence of hearing disability was around 6.12% across the globe. Besides aging, the Hearing Loss Association of America (HLAA) found that, exposure to loud noise is also a causative factor of hearing loss.
A study published by Fact.MR recalibrates the influence of dynamics to track the movement of the audiological devices market during the forecast period (2020-2026). According to the study, the audiological devices market is projected to expand 1.3X during 2020-2026.
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Ambulatory Surgical Centres (ASCs) to Induce High Deployment Rate of Audiological Devices
There has been a massive rise in the number of ambulatory surgical centres, especially in developed regions such as North America and Europe, on account of measured actions taken by governments to offer easy accessibility and same-day surgical care, including diagnostics and treatment. According to the Definitive Healthcare Platform, currently, there are over 9,280 active ASCs in the U.S. alone. As individuals seek quality care in a stipulated timeframe, ambulatory surgical centres are likely to perform better on the parameter of time-efficiency, as compared to clinics and hospitals.
The study finds that, ambulatory surgical centres are set to emerge as a crucial end user in the audiological devices market, with an estimated CAGR of 5.5% during the forecast period. However, clinics would continue to contribute the highest value to the audiological devices market, as these centres boast a stronghold in key regions, while ASCs are a relatively new addition to the healthcare centre cohort.
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Asia Pacific Audiological Devices Market to Witness Strong Growth
The audiological devices market in Asia Pacific is accelerating at a CAGR of 6.5%, on account of balanced supply-demand ratio. On the demand side, large pool of geriatric population in Japan turns the country into an attractive market. Also, as per HEARnet, one in every six people in Australia suffers from hearing disability, which further strengthens the demand for audiological devices in the country.
Improvements in the healthcare infrastructure of China, on the back of initiatives taken by the government, is encouraging market players to work towards product innovation to offer effective hearing aids and diagnostic devices. In addition, players in the audiological devices market are also undertaking initiatives to expand their presence in China. For instance, Sonova inaugurated an international training institute in Jiangsu province in China, to offer theoretical and practical training to hearing care staff.
Sensing the lucrative potential of Asia Pacific, leading players are making a shift towards the region, and relaxed FDI policies are further increasing foreign investments in this region. This is leading to the introduction of technologically-advanced products and creating expansion opportunities for the audiological devices market.
Audiological Devices Market – Scope of the Study
The study on the audiological devices market is an exclusive report published by Fact.MR, which brings to the fore crucial parameters that are driving the growth of the market. This exclusive study provides incisive insights regarding recent developments in the audiological devices market, by analysing the historical data for the period of 2016-2019, with the duration of 2020-2026 considered as the forecast period.
Evaluation of the audiological devices market’s revenue has been carried out in terms of value (US$ Mn). This research provides information into the key trends that are potential enough to influence the growth of the audiological devices market. Besides this, the study also includes several macroeconomic and microeconomic growth indicators complementing the growth of the audiological devices market during the forecast period. This detailed study provides information into key dynamics, and their influence on the audiological devices market during the forecast period.
The report also provides information about the key challenges and threats that could deter the growth potential of players in the audiological devices market. The study unveils profitable opportunities for manufacturers, which they can adopt to strengthen their position in the global audiological devices market. With a view of aiding stakeholders in the audiological devices market, the study comprises a detailed section on the competition analysis.
This exclusive study offers a dashboard view of the audiological devices market, with detailed information about market players, based on overall revenue, key developments, and their market presence. Additionally, key strategies of players in the audiological devices market have also been included in this comprehensive study.
Audiological Devices Market – Assessment of Key Segments
Authors of this comprehensive study have classified the audiological devices market into key segments for an in-depth study. Categorisation of the audiological devices market is based on product, disease, end user, and region. This detailed study also offers information about the incremental opportunity present in the audiological devices market during the forecast period. Key segments considered while studying the audiological devices market include:
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Revenue of the audiological devices market has been evaluated in terms of US$ Mn for the period of 2020 to 2026. In addition to this, compound annual growth rate has been calculated for all key segments for the forecast period of 2020-2026, considering 2019 as the base year.
Authors of this exclusive study on the audiological devices market have analysed key players, based on their financials, products, and strategies, in order to provide detailed information of the competitive landscape. Key players operating in the audiological devices market include Nuroton Biotechnology Co. Ltd., William Demant Holding A/S, AUDITDATA, GN Store Nord A/S, Audina Hearing Instruments, Inc., Sonova, Starkey, WIDEX A/S, Medtronic, and Sivantos Pte. Ltd.
Audiological Devices Market – Research Methodology
The primary objective of this exclusive study on the audiological devices market is to offer precise estimates and forecasts of the market in terms of value (US$ Mn) for the period of 2020-2026. The secondary objective includes analysis of key market segments exhibiting significant growth rates, leading strategies adopted by players in the audiological devices market, and recalibrate the adoption rate of audiological devices in key regions across the world. Besides this, a top-down and bottom-up approach is taken by analysts of the report to validate the data that has been found out through the primary and secondary research methodologies.
Request research methodology of this report.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary : Global Audiological Devices Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution / Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
5. Market Outlook
5.1. Key Mergers & Acquisitions
5.2. Technological Advancements
5.3. Regulatory Scenario of Audiological Devices
6. Global Audiological Devices Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Global Audiological Devices Market Value Forecast, by Product, 2020–2026
6.3.1. Hearing Aids
6.3.1.1. In-the-ear Hearing Aids (ITE)
6.3.1.2. Receiver-in-the-ear hearing Aids (RITE)
6.3.1.3. Behind-the-ear Hearing Aids (BTE)
6.3.1.4. Canal hearing aids (CHA)
6.3.2. Cochlear Implants
6.3.3. Bone-anchored Hearing Aids
6.3.4. Diagnostic Devices
6.3.4.1. Audiometers
6.3.4.2. Octoscopes
6.3.4.3. Tympanometers
6.4. Global Audiological Devices Market Attractiveness, by Product
7. Global Audiological Devices Market Analysis and Forecast, by Disease
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Global Audiological Devices Market Value Forecast, by Disease, 2020–2026
7.3.1. Otosclerosis
7.3.2. Meniere's Disease
7.3.3. Acoustic Tumors
7.3.4. Otitis Media
7.3.5. Others
7.4. Global Audiological Devices Market Attractiveness, by Disease
8. Global Audiological Devices Market Analysis and Forecast, by End-user
8.1. Introduction & Definition
8.2. Key Findings / Developments
8.3. Global Audiological Devices Market Value Forecast, by End-user, 2020–2026
8.3.1. Hospitals
8.3.2. Ambulatory Surgical Centers
8.3.3. Clinics
8.4. Global Audiological Devices Market Attractiveness, by End-user
9. Global Audiological Devices Market Analysis and Forecast, by Region
9.1. Key Findings
9.2. Global Audiological Devices Market Value Forecast, by Region
9.2.1. North America
9.2.2. Europe
9.2.3. Asia Pacific
9.2.4. Latin America
9.2.5. Middle East & Africa
9.3. Global Audiological Devices Market Attractiveness, by Country/Region
10. North America Audiological Devices Market Analysis and Forecast
10.1. Introduction
10.1.1. Key Findings
10.2. North America Audiological Devices Market Value Forecast, by Product, 2020–2026
10.2.1. Hearing Aids
10.2.1.1. In-the-ear Hearing Aids (ITE)
10.2.1.2. Receiver-in-the-ear hearing Aids (RITE)
10.2.1.3. Behind-the-ear Hearing Aids (BTE)
10.2.1.4. Canal hearing aids (CHA)
10.2.2. Cochlear Implants
10.2.3. Bone-anchored Hearing Aids
10.2.4. Diagnostic Devices
10.2.4.1. Audiometers
10.2.4.2. Octoscopes
10.2.4.3. Tympanometers
10.3. North America Audiological Devices Market Value Forecast, by Disease, 2020–2026
10.3.1. Otosclerosis
10.3.2. Meniere's Disease
10.3.3. Acoustic Tumors
10.3.4. Otitis Media
10.3.5. Others
10.4. North America Audiological Devices Market Value Forecast, by End-user, 2020–2026
10.4.1. Hospitals
10.4.2. Ambulatory Surgical Centers
10.4.3. Clinics
10.5. North America Audiological Devices Market Value Forecast, by Country, 2020–2026
10.5.1. U.S.
10.5.2. Canada
10.6. North America Audiological Devices Market Attractiveness Analysis
10.6.1. By Product
10.6.2. By Disease
10.6.3. By End-user
10.6.4. By Country
11. Europe Audiological Devices Market Analysis and Forecast
11.1. Introduction
11.1.1. Key Findings
11.2. Europe Audiological Devices Market Value Forecast, by Product, 2020–2026
11.2.1. Hearing Aids
11.2.1.1. In-the-ear Hearing Aids (ITE)
11.2.1.2. Receiver-in-the-ear hearing Aids (RITE)
11.2.1.3. Behind-the-ear Hearing Aids (BTE)
11.2.1.4. Canal hearing aids (CHA)
11.2.2. Cochlear Implants
11.2.3. Bone-anchored Hearing Aids
11.2.4. Diagnostic Devices
11.2.4.1. Audiometers
11.2.4.2. Octoscopes
11.2.4.3. Tympanometers
11.3. Europe Audiological Devices Market Value Forecast, by Disease, 2020–2026
11.3.1. Otosclerosis
11.3.2. Meniere's Disease
11.3.3. Acoustic Tumors
11.3.4. Otitis Media
11.3.5. Others
11.4. Europe Audiological Devices Market Value Forecast, by End-user, 2020–2026
11.4.1. Hospitals
11.4.2. Ambulatory Surgical Centers
11.4.3. Clinics
11.5. Europe Audiological Devices Market Value Forecast, by Country/Sub-region, 2020–2026
11.5.1. Germany
11.5.2. U.K.
11.5.3. France
11.5.4. Spain
11.5.5. Italy
11.5.6. Russia
11.5.7. Rest of Europe
11.6. Europe Audiological Devices Market Attractiveness Analysis
11.6.1. By Product
11.6.2. By Disease
11.6.3. By End-user
11.6.4. By Country/Sub-region
12. Asia Pacific Audiological Devices Market Analysis and Forecast
12.1. Introduction
12.1.1. Key Findings
12.2. Europe Audiological Devices Market Value Forecast, by Product, 2020–2026
12.2.1. Hearing Aids
12.2.1.1. In-the-ear Hearing Aids (ITE)
12.2.1.2. Receiver-in-the-ear hearing Aids (RITE)
12.2.1.3. Behind-the-ear Hearing Aids (BTE)
12.2.1.4. Canal hearing aids (CHA)
12.2.2. Cochlear Implants
12.2.3. Bone-anchored Hearing Aids
12.2.4. Diagnostic Devices
12.2.4.1. Audiometers
12.2.4.2. Octoscopes
12.2.4.3. Tympanometers
12.3. Europe Audiological Devices Market Value Forecast, by Disease, 2020–2026
12.3.1. Otosclerosis
12.3.2. Meniere's Disease
12.3.3. Acoustic Tumors
12.3.4. Otitis Media
12.3.5. Others
12.4. Europe Audiological Devices Market Value Forecast, by End-user, 2020–2026
12.4.1. Hospitals
12.4.2. Ambulatory Surgical Centers
12.4.3. Clinics
12.5. Europe Audiological Devices Market Value Forecast, by Country/Sub-region, 2020–2026
12.5.1. China
12.5.2. Japan
12.5.3. India
12.5.4. Australia & New Zealand
12.5.5. Rest of Asia Pacific
12.6. Europe Audiological Devices Market Attractiveness Analysis
12.6.1. By Product
12.6.2. By Disease
12.6.3. By End-user
12.6.4. By Country/Sub-region
13. Latin America Audiological Devices Market Analysis and Forecast
13.1. Introduction
13.1.1. Key Findings
13.2. Latin America Audiological Devices Market Value Forecast, by Product, 2020–2026
13.2.1. Hearing Aids
13.2.1.1. In-the-ear Hearing Aids (ITE)
13.2.1.2. Receiver-in-the-ear hearing Aids (RITE)
13.2.1.3. Behind-the-ear Hearing Aids (BTE)
13.2.1.4. Canal hearing aids (CHA)
13.2.2. Cochlear Implants
13.2.3. Bone-anchored Hearing Aids
13.2.4. Diagnostic Devices
13.2.4.1. Audiometers
13.2.4.2. Octoscopes
13.2.4.3. Tympanometers
13.3. Market Value Forecast, by Disease, 2020–2026
13.3.1. Otosclerosis
13.3.2. Meniere's Disease
13.3.3. Acoustic Tumors
13.3.4. Otitis Media
13.3.5. Others
13.4. Latin America Audiological Devices Market Value Forecast, by End-user, 2020–2026
13.4.1. Hospitals
13.4.2. Ambulatory Surgical Centers
13.4.3. Clinics
13.5. Latin America Audiological Devices Market Value Forecast, by Country, 2020–2026
13.5.1. Brazil
13.5.2. Mexico
13.5.3. Rest of Latin America
13.6. Latin America Audiological Devices Market Attractiveness Analysis
13.6.1. By Product
13.6.2. By Disease
13.6.3. By End-user
13.6.4. By Country/Sub-region
14. Middle East & Africa Audiological Devices Market Analysis and Forecast
14.1. Introduction
14.1.1. Key Findings
14.2. Middle East & Africa Audiological Devices Market Value Forecast, by Product, 2020–2026
14.2.1. Hearing Aids
14.2.1.1. In-the-ear Hearing Aids (ITE)
14.2.1.2. Receiver-in-the-ear hearing Aids (RITE)
14.2.1.3. Behind-the-ear Hearing Aids (BTE)
14.2.1.4. Canal hearing aids (CHA)
14.2.2. Cochlear Implants
14.2.3. Bone-anchored Hearing Aids
14.2.4. Diagnostic Devices
14.2.4.1. Audiometers
14.2.4.2. Octoscopes
14.2.4.3. Tympanometers
14.3. Middle East & Africa Audiological Devices Market Value Forecast, by Disease, 2020–2026
14.3.1. Otosclerosis
14.3.2. Meniere's Disease
14.3.3. Acoustic Tumors
14.3.4. Otitis Media
14.3.5. Others
14.4. Middle East & Africa Audiological Devices Market Value Forecast, by End-user, 2020–2026
14.4.1. Hospitals
14.4.2. Ambulatory Surgical Centers
14.4.3. Clinics
14.5. Middle East & Africa Audiological Devices Market Value Forecast, by Country/Sub-region, 2020–2026
14.5.1. GCC Countries
14.5.2. South Africa
14.5.3. Israel
14.5.4. Rest of Middle East & Africa
14.6. Middle East & Africa Audiological Devices Market Attractiveness Analysis
14.6.1. By Product
14.6.2. By Disease
14.6.3. By End-user
14.6.4. By Country/Sub-region
15. Competition Landscape
15.1. Company Profiles
15.1.1. William Demant Holding A/S
15.1.1.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.1.2. Company Financials
15.1.1.3. Growth Strategies
15.1.1.4. SWOT Analysis
15.1.2. GN Store Nord A/S
15.1.2.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.2.2. Company Financials
15.1.2.3. Growth Strategies
15.1.2.4. SWOT Analysis
15.1.3. Sonova
15.1.3.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.3.2. Company Financials
15.1.3.3. Growth Strategies
15.1.3.4. SWOT Analysis
15.1.4. WIDEX A/S
15.1.4.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.4.2. Company Financials
15.1.4.3. Growth Strategies
15.1.4.4. SWOT Analysis
15.1.5. Sivantos Pte. Ltd.
15.1.5.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.5.2. Company Financials
15.1.5.3. Growth Strategies
15.1.5.4. SWOT Analysis
15.1.6. Medtronic
15.1.6.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.6.2. Company Financials
15.1.6.3. Growth Strategies
15.1.6.4. SWOT Analysis
15.1.7. Starkey
15.1.7.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.7.2. Company Financials
15.1.7.3. Growth Strategies
15.1.7.4. SWOT Analysis
15.1.8. Audina Hearing Instruments, Inc.
15.1.8.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.8.2. Company Financials
15.1.8.3. Growth Strategies
15.1.8.4. SWOT Analysis
15.1.9. AUDITDATA
15.1.9.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.9.2. Company Financials
15.1.9.3. Growth Strategies
15.1.9.4. SWOT Analysis
15.1.10. Nurotron Biotechnology Co. Ltd.
15.1.10.1. Company Overview (HQ, Business Segments, Employee Strength)
15.1.10.2. Company Financials
15.1.10.3. Growth Strategies
15.1.10.4. SWOT Analysis
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Audiological Devices Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2026