Arecent study published by Fact.MR shows a marked rise in the adoption of hearing aids, which is projected to grow in excess of US$ 8 Bn by 2026, as individuals are evincing high interest towards high-tech devices to treat hearing loss. Availability of a wide range of hearing aids further offers choices to select the right audiological device, which is resonating well with individuals suffering from poor hearing conditions.
Receiver-in-the-ear is the most preferred hearing aid, and is expected to witness a CAGR of around 5.1% during the forecast period (2020-2026), on account of its lightweight and easy accessibility. However, hearing aids may not be effective among individuals with severe hearing loss, which is likely to fuel the adoption rate of cochlear implants during the forecast period.
Key Highlight of Audiological Devices Market Study
Patients in developed regions, and in developing regions to some extent, are increasingly becoming conscious of their health issues, which is encouraging them to undergo diagnosis and avail quality care. This continues to gain significance to diagnostic devices in the audiological devices market.
Demand for audiometers is high in hospitals and clinics to measure the hearing levels of patients. On the back of high adoption, audiometers are likely to record sales tantamount to US$ 685 Mn by 2026.
Increasing sales of audiological devices are highly attributable to the growing prevalence of Meniere’s disease. Also, the study finds that, a larger pool of women is affected by this disease as compared to men. Adoption of audiological devices among patients suffering from the disease is projected to grow to 33% by 2026.
Hospitals are gradually losing prominence in the audiological devices market to clinics, owing to long-wait windows and high treatment costs associated with the former. Clinics are expected to account for nearly 50% of the audiological devices market by 2026.
Fact.MR has studied the audiological devices market with detailed segmentation on the basis product, disease type, end-user and key regions.
Product
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)Cochlear ImplantsBone-anchored Healing AidsDiagnostic Devices:-Audiometers-OctoscopesTympanometers
North AmericaEuropeLatin AmericaAsia PacificMiddle East & Africa (MEA)
The report covers following Audiological Devices Market insights and assessment that are helpful for all participants involved in the Audiological Devices Market:
Data on recently introduced regulations and their impact on key industries and on demand in Audiological Devices Market
Latest industry Audiological Devices Market with key analysis of market drivers, trends, and influencing factors
Key trends Analysis of Audiological Devices Market and changing consumer preferences in major industries.
Changing Audiological Devices Market demand and consumption of diverse products
Major trends underlining funding by key investors in numerous countries
New investment opportunities in diverse technology and product or service types
Comprehensive data and Competitive analysis of Audiological Devices Market major players
Audiological Devices Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
Audiological Devices Market demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com
Blog URL: https://blog.factmr.com/
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
As customers’ aspirations rise and there is an increasing need for comfort and a luxurious lifestyle worldwide, the market for smart shades is expected to develop rapidly during the forecast period of 2020 to 2030. The most prominent technology used in smart shades is Bluetooth, although they also include high-end technologies like ZigBee/Z-Wave. Over the next few years, online sales will conti...
According to Fact.MR, the global market for hybrid electric vehicles is expected to display a fantastic growth trajectory, registering a CAGR of more than 14% over the forecast period of 2021–2031. By 2031, the market for gasoline hybrid vehicles is expected to r...
Demand for medical device technologies was valued at US$ 470.32 Billion in 2023, and is likely to flourish at a Y-o-Y expansion rate of 4.6% in 2023, reaching US$ 491.95 Billion. From 2023-2033, the industry is poised to experience a CAGR of 3%, anticipated t...
The global evaporative air cooler market is estimated at USD 6.7 Billion in 2022 and is forecast to reach USD 10.8 Billion by 2032, growing at a CAGR of 4.8% from 2022 to 2032.Increasing awareness of global warming, rising global temperatures, intensified ado...