Audiology Devices Market Size, Share Global Analysis Report, 2019 – 2026

Industry Insights

According to the report published by Facts & Factors, the global Audiology Devices market size was worth around USD 9500 million in 2019 and is predicted to grow around USD 13,950 million by 2026 with a compound annual growth rate (CAGR) of roughly 5.6% between 2020 and 2026. The report analyzes the global Audiology Devices market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Audiology Devices market.

The audiology devices market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire audiology devices market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD 13,950 Million) from FY 2016 – 2026.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the audiology devices industry. The report analyzes and declares the historical and current trends analysis of the audiology devices industry and subsequently recommends the projected trends anticipated to be observed in the audiology devices market during the upcoming years.

Key Insights from Primary Research

• As per our primary respondents, the global audiology devices market is set to grow annually at a rate of around 5.6%.
• It was established through primary research that the global audiology devices market was valued at around USD 13,950 Million in 2019.
• The “hearing aids” category, on the basis of product segmentation, was the leading revenue-generating category in 2019.
• On the basis of end-users segmentation, the “specialty clinic's” category was the leading revenue-generating category in 2019.
• Based on the region, North America was the leading revenue-generating category in 2019.

Key Recommendations from Analysts

• As per our analysis, the global audiology devices market is growing at high CAGR and various end-use industries are aware of this potential market and applications of the audiology devices.
• Growing at a CAGR around 5.6%, the global audiology devices market provides numerous opportunities for all of the involved stakeholders across the entire value chain.
• Our analysts have identified hearing aids and specialty clinic's provider's segments that will be dominating for global audiology devices market in terms of product and end-user segmentation respectively.
• As per our analysis, North America is expected to account for maximum revenue share, in the target market.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the audiology devices industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the audiology devices industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the audiology devices market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the audiology devices industry. The audiology devices market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the audiology devices sector. Key strategic developments in the audiology devices market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the audiology devices market are appropriately highlighted in the report.

Developing rates of otic issue will support market development. As indicated by WHO, it is foreseen that by 2050 more than 900 million individuals will experience the ill effects of hearing misfortune. Hearing loss happens because of a few reasons, for example, complexities at the birth, hereditary transformations, incessant ear contaminations, unreasonable introduction to clamor and maturing.

Along these lines, to conquer challenges emerging from hearing loss, individuals have begun leaning toward audiology gadgets, for example, cochlear inserts that essentially improve an individual's hearing capacity. Previously mentioned elements ought to raise the audiology gadgets industry development in the coming years.

The positive administrative situation will help audiology gadgets market over the gauge time allotment. Administrative specialists, for example, FDA and Europe Commission have confined positive guidelines for OTC hearing gadgets that will make them effectively accessible to shoppers through retail outlets without the mediation of audiologists.

Along these lines, guidelines forced for expanding the availability of audiology gadgets will emphatically affect otological gadgets market development in inevitable years. However, concerns with respect to tasteful intrigue may hamper the worldwide market development to a certain degree.

The market for audiology devices gadgets is disseminated based on the product, end-user, disease type, and region. In light of the product, the market is bifurcated into diagnostic devices, cochlear implants, BAHA/BAHS, and hearing aids. The portion for hearing aids accounted significant portion of the market in 2019, though, the section for cochlear implants is probably going to develop at high CAGR in the conjecture time frame.

In light of end-users, the market is sectioned into hospitals, specialty clinics, and ambulatory surgical centers. The specialty clinic's growth application section held the biggest piece of the pie in 2019.

Report Scope

By disease type, the market for audiology gadgets is fragmented into acoustic tumors, Meniere’s disease, otosclerosis, otitis media, and others. The section for Meniere’s disease accounted for a significant portion of the market in 2019 and is probably going to develop at high CAGR in the figure time frame.

Some of the essential players operating in the market

•  William Demant
•  WIDEX
•  Starkey Hearing Technologies
•  Sonova
•  Sivantos
•  Nurotron Biotechnology
•  Medtronic
•  MedRX
•  MED-EL
•  GN Store Nord
•  Cochlear
•  Benson Medical Instruments
•  AMBCO

The taxonomy of the audiology devices market by its scope and segmentation is as follows:

Product Segment Analysis

• Hearing Aids
  • In-the-Ear Hearing Aids (ITE)
  • Receiver-in-the-Ear (RITE)
  • Behind-the-Ear (BTE)
  • Canal Hearing Aids (CHA)
• Cochlear Implants
• BAHA/BAHS
• Diagnostic Devices
  • Tympanometry
  • Otoscopes
  • Audiometer

Disease Type Segment Analysis

• Otosclerosis
• Meniere’s Disease
• Acoustic Tumors
• Otitis Media
• Others

End-User Segment Analysis

• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics

Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest Of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• The Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa