The global audiology devices market size is expected to reach USD 15.5 billion by 2026 registering a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing cases of hearing disorders, especially in geriatric population, rising purchasing capacity, investments in R&D, and government support for better healthcare infrastructure are expected to drive the market over the forecast period.
High
comfort offered by newly introduced devices, improved connectivity, and better
user interface are some of the factors attributing to high usage rate of audiology
devices. Better quality of life along with acceptance of digital hearing aids
are anticipated to further drive the market. In a study published in January
2019, it was observed that hearing aids reduce symptoms associated with
dementia. However, usage is hampered due to the exclusion of hearing aids or
exams for fitting hearing aids from the Original Medicare program.
Hearing
aids segment led the market in 2018 and will hold its leading position in
future. However, cochlear implants is expected to be the fastest-growing
segment over the forecast period. Cochlear implants are widely used owing to
their high effectiveness, in terms of sentence understanding.
Full Research Report On Audiology Devices Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/audiology-devices-market
Audiology Devices
Market Report Highlights
- Digital
hearing aids led the technology segment in terms of market share in 2018
due to their increased adaptability and connectivity with mobile devices
- Retail sales
channel was the dominant segment in 2018 and is projected to expand
further at the fastest CAGR during the forecast period
- North America
dominated the global audiology devices market in 2018 due to technological
advancements and presence of major market participants in the region
- Asia Pacific
is anticipated to witness the fastest CAGR owing to improving healthcare
infrastructure along with growing geriatric population in emerging
countries, such as India and China
- Key industry
participants include GN ReSound Group;William Demant Holdings A/S; Starkey
Hearing Technologies; Widex A/S; Sonova Holdings AG; Phonak, Audioscan;
MedRx; Austar Hearing; National Hearing Care; and NHC/Amplifon
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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