250 Pages Audiological Devices Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
According to Fact MR’s recent market research, sales of Audiological Devices to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Audiological Devices market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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Digital Transformation in Healthcare Presenting Opportunities for Audiological Devices Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Audiological Devices market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Audiological Devices market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Audiological Devices
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The report offers actionable and valuable market insights of Audiological Devices. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Audiological Devices Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Audiological Devices, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Audiological Devices Market.
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.
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Technological Developments and Product Launches will Act as Growth Levers
The global audiological devices market consists of five major players. These are:
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.
Auditory impairments affect people of all age groups, ranging from moderate to severe. According to the Hearing Loss Association of America (HLAA), auditory impairments account for the 3rd largest physical disability among people. Furthermore, the World Health Organization estimated in 2019 that unaddressed hearing losses have cost countries US$ 750 Bn annually. 90% of the patients were adults, of which males constituted more than 50%.
The high incidence of hearing disabilities in the geriatric population is the main factor behind increasing deafness. As a consequence, people are increasingly seeking treatment for the same. On the premise of the aforementioned trends, the global audiological devices market shall experience a moderate growth pegged at 5% during the forecast period (2020-2026). The market is poised to surpass a value of US$ 1.3 Bn by 2026-end.
Key Takeaways of the Audiological Devices Market Study:
“The global audiological devices shows a positive growth trend in the future. Increase in the elderly population, coupled with burgeoning research in addressing hearing impairments, shall drive key market players to innovate,” concludes a Fact.MR analyst.
New Product Launches to Shape Audiological Devices Competition Landscape
Important audiological devices market players such as Sonova International and William Demant Holdings A/S, focus on development of technologically advanced audiological devices and product launches to increase their footprint. For instance, Sonova International recently unveiled its “Virto M Black” custom made hearing aid. Part of Sonova’s Marvel customized in-the-ear (ITE) technology, the device includes Bluetooth streaming and a personalized hearing experience through the myPhonak App. Likewise, William Demant Holdings A/S offers hearing impairment solutions through its Oticon, Bernafon, Sonic, Audika and MAICO brands. Core businesses include hearing devices, hearing implants, diagnostic instruments and intelligent audio solutions.
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More Valuable Insights on Audiological Devices Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Audiological Devices, Sales and Demand of Audiological Devices, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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