Audiological Devices Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2020 to 2026

Published on : Mar-2020 | List of Tables : 36 | List of Figures : 87 | No. of Pages : 170 | Report Code : FACT4444MR |

Audiological Devices Market to Witness Modest Growth, Amid Increased Hearing Impairment Incidences

The Hearing Loss Association of America (HLAA) advocates that auditory impairments account for the 3rd largest physical condition among people. Gradual hearing loss affects people of all ages, with varying degrees of deafness. In 2019, W.H.O anticipated that unaddressed hearing loss poses and annual cost of US$ 750 Bn globally. It further stated that there were approximately 466 million people with hearing disabilities worldwide. Around nine out of ten patients were adults, with males accounting for more than half the number.

According to W.H.O, aging is the main driver behind most hearing impairment cases. By 2020, the number of people above 60 years shall increase substantially, leading to a rise in deafness. Consequently, there is greater demand for treatment solutions. On the back of these factors, the global audiological devices market shall gather significant momentum in the foreseeable future. Predictions indicate a moderate growth trend, with a projected CAGR of 5% between 2020 and 2026.

Hearing Aids to Gain Traction, Cochlear Implants to Follow

Hearing Aids are expected to soar in popularity within the forecast period. The segment is projected to hold almost three-fifth share of the global audiological devices market. The most preferred type of hearing aid is the receiver-in-the-ear (RITE) as they can be conveniently placed behind the ear. It is much thinner and smaller compared to a regular hearing aid. Cochlear Implants follow the Hearing Aids segment, accounting for over 1/5th of the market share. These implants are becoming increasingly popular due to their suitability for profoundly deaf patients, by electronically stimulating their nerves in the inner ear. Projected CAGR for Cochlear Implants is pegged at 5.7% during the forecast period.

audiological devices market forecast by product type

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Clinics to Remain at the Forefront, Ambulatory Surgical Centers Catching Up

The clinics segment is projected to account for almost half of the overall market share by 2026. This is primarily due to increasing demand for quality care services. Clinics are poised to represent an absolute $ opportunity of US$ 1,738.9 Mn during the forecast period. The Ambulatory Surgical Centers segment is set to gain traction during the same period, representing an absolute $ opportunity of US$ 1,188.7 Mn. This segment is gaining traction on back of patients opting for less waiting time for the surgery.

audiological devices market forecast by end user

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Europe to Capture Attractive Market Share, Asia-Pacific to Register Impressive Growth

Europe is anticipated to be the most attractive market for the global audiological devices market. Expansion of market share is attributed to high prevalence of hearing loss in the region. The W.H.O. predicts that by 2030, the number of people with hearing impairments shall reach 40 million. In 2017, Europe accounted for almost two-fifth of the market share. This is expected to expand at a CAGR of 4.5% from 2020-2026.

Asia-Pacific shows promising growth for the global audiological devices market. Technological developments, rise in geriatric population and emergence of new market players are the key drivers behind the growth of the market. By 2026, the audiological devices market in Asia-Pacific is projected to reach US$ 3,434.6 Mn.

Technological Developments and Product Launches will Act as Growth Levers

The global audiological devices market consists of five major players. These are: William Demant Holding A/S, GN Store Nord A/S, Sonova, WIDEX A/S and Sivantos Pte. Ltd. Their main strategies include development of technologically advanced audiological devices and introducing new products to expand into potential markets.

Out of these, Sonova is the leading player in the audiological devices market. It offers a wide range of solutions, ranging from hearing aids to wireless communications solutions to address all kinds of hearing problems. The company provides a wide range of service channels through its Phonak, Unitron and Hansaton brands. Recently, the company unveiled its Marvel customized in-the-ear (ITE) hearing aids. Christened “Virto M Black”, it is the company’s first custom-made hearing aid equipped with Marvel technology which includes Bluetooth streaming and a personalized hearing experience through its myPhonak app. The company also markets cochlear implants through its Advanced Bionics brand.

Another leading player, William Demant Holding A/S, offers hearing impairment solutions through renowned brands like Oticon, Bernafon, Sonic, Audika, MAICO, etc. Its core businesses include hearing devices, hearing implants, diagnostic instruments and intelligent audio solutions.

Audiological Devices Market- Scope of the Report

The recent study by Fact.MR on audiological devices market offers a 6-year forecast between 2020 and 2026. The study analyzes crucial trends that are currently determining the growth of audiological devices market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of audiological devices. The study also provides dynamics that are responsible for influencing the future status of the audiological devices market over the forecast period.

A detailed assessment of audiological devices market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the audiological devices market along with their product portfolio enhances the reliability of this comprehensive research study.

Audiological Devices Market: Report Summary

The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in audiological devices market across the globe.

A comprehensive estimate on audiological devices market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of audiological devices market during the forecast period. Price point comparison by region with global average price is also considered in the study.

 Audiological Devices Market Segmentation

Fact.MR has studied the audiological devices market with detailed segmentation on the basis product, disease type, end-user and key regions.

Product

Disease Type

End-user

Region

Hearing Aids:

-In-the-ear Hearing Aids (ITE)

-Receiver-in-the-ear Hearing Aids (RITE)

-Behind-the-ear Hearing Aids (BTE)

-Canal Hearing Aids (CHA)

Otosclerosis

Hospitals

North America

Cochlear Implants

Meniere’s Disease

Ambulatory Surgical Centers

Europe

Bone-anchored Healing Aids

Acoustic Tumors

Clinics

Latin America

Diagnostic Devices:

-Audiometers

-Octoscopes

Tympanometers

Otitis Media

 

Asia Pacific

 

Others

 

Middle East & Africa (MEA)

“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”

Audiological Devices market: Analysis on Market Size Evaluation

Audiological devices market has been analyzed for each market segment, in terms of value (US$ Mn).

Market estimates at global and regional levels for audiological devices is available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent audiological devices market segments, along with market attractiveness evaluation has been incorporated in the report.

Audiological Devices market: Inspected Assessment on Regional Segments

Key sections have been elaborated in the audiological devices report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (political economic, and business environment outlook), which are expected to have a momentous influence on the growth of audiological devices market during the forecast period.

Country-specific valuation on demand for audiological devices has been offered for each regional market, along with the market scope estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

Audiological Devices market: In-Depth Analysis on Competitive Landscape

The report sheds light on the leading manufacturers of audiological devices along with their detailed profiles. Essential and up-to-date data information related to the market performers, who are principally engaged in the production of audiological devices, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which includes essentials such as product portfolio, key strategies along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through the matrix for all the prominent players thus providing the readers with actionable insights, which helps in thoughtfully presenting market status, and predicting the competition level in audiological devices market. Prominent manufacturers with established market presence in global audiological devices market are William Demant Holdings A/S, GN Store Nord A/S, Sonova, WIDEX A/S and Sivantos Pte. Ltd.

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