The report is titled as ‘Audiology Devices Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the audiology devices market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The audiology devices market is expected to grow at a significant rate in the near future.
The global audiology devices market in 2020 is estimated for more than US$ 10.6 Bn and expected to reach a value of US$ 16.5 Bn by 2028 with a significant CAGR of 5.7%.
Audiology Devices Market Definition
Audiology devices are computerized tools used by audiologists for the diagnosis and medical care of ear damage or trouble in hearing. The audiology devices serve the purpose of overseeing or examining the hearing ability. The ear breakage and hearing impairment leading to lifelong deafness may occur due to a number of reasons such as injuries, certain infections, congenital defects, diseases or side effects of any medicines, hearing loud noises, and lastly due to rising age factors. The audiology devices help in improving the listening capability of the patients and acts as an assistive tool, which in turn helps in stimulating its demand all across the globe.
Along with that, the audiology tools are available in several different sizes, shapes, features according to the severity and hearing conditions of the patients, which further supports the growth of the global audiology devices market. The major purpose of the audiology devices is to diagnose the problem of the patient and provide proper medical care with regard to ear damage and hearing problems.
Audiology Devices Market Dynamics
The surging count of the geriatric population all across the world is majorly contributing to the rapid growth of the global audiology devices market owing to the fact that the older population is more vulnerable to ear problems and infections leading to hearing impairment.
Along with that, the younger generation, these days, are more inclined towards listening to loud music and more exposed to deafening noise, which in turn is causing hearing problems in them as well, therefore contributing to the growing demand of audiology devices across the world. Hence, the audiology devices market is expected to people further in the forthcoming years.
Noticeably, there is a huge upsurge in the demand of cosmetic aesthetics of audiology devices in the global market which is also acting as one of the major drivers in order to boost the growth of the audiology devices market during the forecast timeframe.
In addition to that, the audiology devices are embedded with hybrid audiometers and PC-based audiometers which can be easily unified with standard operating and computer systems concluding in enhanced treatment decisions and diagnostic performance. Therefore, the audiology devices market is estimated to fuel positively in the coming years.
However, the inadequate knowledge among the population and unaffordability of audiology devices across the globe may hold back the growth of the audiology devices market in the upcoming years.
Audiology Devices Market Key Players
Some of the key participating players in the audiology devices market are
• Demant A/S
• GN Store Nord A/S
• Sonova
• Starkey Hearing Technologies
• Siemens AG
• WS Audiology A/S
• Maico Audiological Services
• Natus Medical Incorporated
• MED-EL
• MedRx
• Tremetrics
• Benson Medical Instruments
• Medtronic
• Ambco
• MicroTech
Audiology Devices Market Segmentation
The audiology devices market is segmented on the basis of product, technology, sales channel, and region.
On the Basis of Product Type
• Hearing Aids
• Cochlear Implants
• BAHA/BAHS
• Diagnostic Devices
On the Basis of Technology
• Digital Audiology Devices
• Analog Audiology Devices
On Basis of Sales Channel
• Retail Sale
• Government Purchases
• E-Commerce
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa
MMC Overview on Audiology Devices Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Audiology Devices market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
• New product designs and launches
• Current product compliance
• Reimbursement
• Concerns for use of Audiology Devices
• Advantages of Audiology Devices
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.
1. Global Audiology Devices Market Report Overview
1.1. Introduction
1.2. Report Description
1.3. Methodology
2. Global Audiology Devices Market Overview
2.1. Introduction
2.1.1. Market Definition
2.1.2. Market Taxonomy
2.2. Executive Summary
2.3. Global Audiology Devices Market Snapshot
2.4. Global Audiology Devices Market Size and Forecast, 2020–2028
2.4.1. Introduction
2.4.2. Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)
2.5. Global Audiology Devices Market Dynamics
2.5.1. Drivers
2.5.2. Restraints
2.5.3. Opportunity
2.5.4. Trends
2.6. Key Regulations
2.7. Porter’s Five Forces Model
3. Global Audiology Devices Market, By Product
3.1. Introduction
3.1.1. Annual Growth Rate Comparison, By Product
3.1.2. BPS Analysis, By Product
3.2. Market Revenue (US$Mn) Forecast, By Product
3.2.1. Hearing Aids
3.2.2. Cochlear Implants
3.2.3. BAHA/BAHS
3.2.4. Diagnostic Devices
3.3. Global Audiology Devices Market Attractiveness Index, By Product
4. Global Audiology Devices Market, By Technology
4.1. Introduction
4.1.1. Annual Growth Rate Comparison, By Technology
4.1.2. BPS Analysis, By Technology
4.2. Market Revenue (US$Mn) Forecast, By Technology
4.2.1. Digital Audiology Devices
4.2.2. Analog Audiology Devices
4.3. Global Audiology Devices Market Attractiveness Index, By Technology
5. Global Audiology Devices Market, By Sales Channel
5.1. Introduction
5.1.1. Annual Growth Rate Comparison, By Sales Channel
5.1.2. BPS Analysis, By Sales Channel
5.2. Market Revenue (US$Mn) Forecast, By Sales Channel
5.2.1. Retail Sale
5.2.2. Government Purchases
5.2.3. E-Commerce
5.3. Global Audiology Devices Market Attractiveness Index, By Sales Channel
6. Global Audiology Devices Market, By Region
6.1. Introduction
6.1.1. Annual Growth Rate Comparison, By Region
6.1.2. BPS Analysis, By Region
6.2. Market Revenue (US$Mn) Forecast, By Region
6.2.1. North America
6.2.2. Latin America
6.2.3. Europe
6.2.4. Asia Pacific
6.2.5. Middle East
6.2.6. Africa
6.3. Global Audiology Devices Market Attractiveness Index, By Region
7. North America Audiology Devices Market Analysis and Forecast, 2020–2028
7.1. Introduction
7.1.1. Annual Growth Rate Comparison, By Country
7.1.2. BPS Analysis, By Country
7.2. Market Revenue (US$Mn) Forecast, By Country
7.2.1. U.S. Audiology Devices Market
7.2.2. Canada Audiology Devices Market
7.3. North America Audiology Devices Market, By Product
7.3.1. Hearing Aids
7.3.2. Cochlear Implants
7.3.3. BAHA/BAHS
7.3.4. Diagnostic Devices
7.4. North America Audiology Devices Market, By Technology
7.4.1. Digital Audiology Devices
7.4.2. Analog Audiology Devices
7.5. North America Audiology Devices Market, By Sales Channel
7.5.1. Retail Sale
7.5.2. Government Purchases
7.5.3. E-Commerce
7.6. North America Audiology Devices Market Attractiveness Index
7.6.1. By Country
7.6.2. By Product
7.6.3. By Technology
7.6.4. By Sales Channel
8. Latin America Audiology Devices Market Analysis and Forecast, 2020–2028
8.1. Introduction
8.1.1. Annual Growth Rate Comparison, By Country
8.1.2. BPS Analysis, By Country
8.2. Market (US$Mn) Forecast, By Country
8.2.1. Brazil Audiology Devices Market
8.2.2. Mexico Audiology Devices Market
8.2.3. Argentina Audiology Devices Market
8.2.4. Rest of Latin America Audiology Devices Market
8.3. Latin America Audiology Devices Market, By Product
8.3.1. Hearing Aids
8.3.2. Cochlear Implants
8.3.3. BAHA/BAHS
8.3.4. Diagnostic Devices
8.4. Latin America Audiology Devices Market, By Technology
8.4.1. Digital Audiology Devices
8.4.2. Analog Audiology Devices
8.5. Latin America Audiology Devices Market, By Sales Channel
8.5.1. Retail Sale
8.5.2. Government Purchases
8.5.3. E-Commerce
8.6. Latin America Audiology Devices Market Attractiveness Index
8.6.1. By Country
8.6.2. By Product
8.6.3. By Technology
8.6.4. By Sales Channel
9. Europe Audiology Devices Market Analysis and Forecast, 2020–2028
9.1. Introduction
9.1.1. Annual Growth Rate Comparison, By Country
9.1.2. BPS Analysis, By Country
9.2. Market (US$Mn) Forecast, By Country
9.2.1. U.K. Audiology Devices Market
9.2.2. Germany Audiology Devices Market
9.2.3. Italy Audiology Devices Market
9.2.4. France Audiology Devices Market
9.2.5. Spain Audiology Devices Market
9.2.6. Russia Audiology Devices Market
9.2.7. Poland Audiology Devices Market
9.2.8. BENELUX Audiology Devices Market
9.2.9. NORDIC Audiology Devices Market
9.2.10. Rest of Europe Audiology Devices Market
9.3. Europe Audiology Devices Market, By Product
9.3.1. Hearing Aids
9.3.2. Cochlear Implants
9.3.3. BAHA/BAHS
9.3.4. Diagnostic Devices
9.4. Europe Audiology Devices Market, By Technology
9.4.1. Digital Audiology Devices
9.4.2. Analog Audiology Devices
9.5. Europe Audiology Devices Market, By Sales Channel
9.5.1. Retail Sale
9.5.2. Government Purchases
9.5.3. E-Commerce
9.6. Europe Audiology Devices Market Attractiveness Index
9.6.1. By Country
9.6.2. By Product
9.6.3. By Technology
9.6.4. By Sales Channel
10. Asia Pacific Audiology Devices Market Analysis and Forecast, 2020–2028
10.1. Introduction
10.1.1. Annual Growth Rate Comparison, By Country
10.1.2. BPS Analysis, By Country
10.2. Market (US$Mn) Forecast, By Country
10.2.1. China Audiology Devices Market
10.2.2. India Audiology Devices Market
10.2.3. Japan Audiology Devices Market
10.2.4. Australia and New Zealand Audiology Devices Market
10.2.5. South Korea Audiology Devices Market
10.2.6. ASEAN Audiology Devices Market
10.2.7. Rest of Asia Pacific Audiology Devices Market
10.3. Asia Pacific Audiology Devices Market, By Product
10.3.1. Hearing Aids
10.3.2. Cochlear Implants
10.3.3. BAHA/BAHS
10.3.4. Diagnostic Devices
10.4. Asia Pacific Audiology Devices Market, By Technology
10.4.1. Digital Audiology Devices
10.4.2. Analog Audiology Devices
10.5. Asia Pacific Audiology Devices Market, By Sales Channel
10.5.1. Retail Sale
10.5.2. Government Purchases
10.5.3. E-Commerce
10.6. Asia Pacific Audiology Devices Market Attractiveness Index
10.6.1. By Country
10.6.2. By Product
10.6.3. By Technology
10.6.4. By Sales Channel
11. Middle East Audiology Devices Market Analysis and Forecast, 2020–2028
11.1. Introduction
11.1.1. Annual Growth Rate Comparison, By Country
11.1.2. BPS Analysis, By Country
11.2. Market (US$Mn) Forecast, By Country
11.2.1. GCC Countries Audiology Devices Market
11.2.2. Israel Audiology Devices Market
11.2.3. Oman Audiology Devices Market
11.2.4. Rest of Middle East Audiology Devices Market
11.3. Middle East Audiology Devices Market, By Product
11.3.1. Hearing Aids
11.3.2. Cochlear Implants
11.3.3. BAHA/BAHS
11.3.4. Diagnostic Devices
11.4. Middle East Audiology Devices Market, By Technology
11.4.1. Digital Audiology Devices
11.4.2. Analog Audiology Devices
11.5. Middle East Audiology Devices Market, By Sales Channel
11.5.1. Retail Sale
11.5.2. Government Purchases
11.5.3. E-Commerce
11.6. Middle East Audiology Devices Market Attractiveness Index
11.6.1. By Country
11.6.2. By Product
11.6.3. By Technology
11.6.4. By Sales Channel
12. Africa Audiology Devices Market Analysis and Forecast, 2020–2028
12.1. Introduction
12.1.1. Annual Growth Rate Comparison, By Country
12.1.2. BPS Analysis, By Country
12.2. Market (US$Mn) Forecast, By Country
12.2.1. South Africa Audiology Devices Market
12.2.2. Egypt Audiology Devices Market
12.2.3. North Africa Audiology Devices Market
12.2.4. Rest of Africa Audiology Devices Market
12.3. Africa Audiology Devices Market, By Product
12.3.1. Hearing Aids
12.3.2. Cochlear Implants
12.3.3. BAHA/BAHS
12.3.4. Diagnostic Devices
12.4. Africa Audiology Devices Market, By Technology
12.4.1. Digital Audiology Devices
12.4.2. Analog Audiology Devices
12.5. Africa Audiology Devices Market, By Sales Channel
12.5.1. Retail Sale
12.5.2. Government Purchases
12.5.3. E-Commerce
12.6. Africa Audiology Devices Market Attractiveness Index
12.6.1. By Country
12.6.2. By Product
12.6.3. By Technology
12.6.4. By Sales Channel
13. Recommendation
13.1. Market Strategy
14. Competitive Landscape
14.1. Competition Dashboard
14.2. List and Company Overview of Global Key Players
14.3. Company Profiles
14.3.1. Demant A/S
14.3.1.1. Company Overview
14.3.1.2. Financial Overview
14.3.1.3. Product Portfolio
14.3.1.4. Key Developments
14.3.1.5. Business Strategies
14.3.2. GN Store Nord A/S
14.3.3. Sonova
14.3.4. Starkey Hearing Technologies
14.3.5. Siemens AG
14.3.6. WS Audiology A/S
14.3.7. Maico Audiological Services
14.3.8. Natus Medical Incorporated
14.3.9. MED-EL
14.3.10. MedRx
14.3.11. Tremetrics
14.3.12. Benson Medical Instruments
14.3.13. Medtronic
14.3.14. Ambco
14.3.15. MicroTech
15. Acronyms
Frequently Asked Questions
What is the projected market size & Compound Annual Growth Rate (CAGR) of the market?
The global audiology devices market in 2020 is estimated for more than US$ 10.6 Bn and expected to reach a value of US$ 16.5 Bn by 2028 with a significant CAGR of 5.7%
What are the key factors driving the growth of market?
Huge upsurge in the demand of cosmetic aesthetics of audiology devices in the global market and surging count of the geriatric population are the key factors driving the growth of market
What segments are covered in market report?
The audiology devices market is segmented on the basis of product, technology, sales channel, and region.
What are the key participating players in the market?
Some of the key participating players in the audiology devices market are Demant A/S, GN Store Nord A/S, Sonova, Starkey Hearing Technologies, Siemens AG, WS Audiology A/S, Maico Audiological Services, Natus Medical Incorporated, MED-EL, MedRx, Tremetrics, Benson Medical Instruments, Medtronic, Ambco, and MicroTech
