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Audiology Devices Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMHE21561

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Published on

November 2021

Total pages

222

Table of Content

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About the Report

About the Report

The electronic devices that are used by audiologists for the diagnosis and treatment of hearing impairment or loss of hearing are called audiology devices. These devices are also widely used for monitoring or studying hearing.
With rapid technological advancement and rising awareness among the consumers regarding the presence of advanced audiology devices, many of the industry players are focused on launching new products in the market due to which the audiology devices market is witnessing an uptick all over the globe. For example, in October 2021, Audibel, the health tech company launched its new artificial intelligence hearing aids called the Arc AI. The AI algorithm can automatically adjust the volume of the hearing aid to the user's environment. Furthermore, the growing number of audiologists and supportive government regulatory framework are some of the other prominent factors propelling the growth of this market globally.
Furthermore, the growing prevalence of deafness coupled with the rising geriatric population is another factor contributing to the growth of the global audiology devices market. For instance, according to the United Nations, In 2019, 13.2% of the worldwide population was aged 60 years or above. Further, it is anticipated that nearly 21.4% of the total worldwide population will be aged 60 years or over by 2050. In view of these facts, there is an increase in the number of people who are more prone to hearing impairment. As a result, there is an increase in the adoption of various audiology devices amongst the older population augmenting the growth of the audiology devices market globally.
Based on product, the market is segmented into hearing aids, cochlear implants, BAHA/BAHS, diagnostic devices, and others. The hearing aids segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. Besides, the cochlear implants segment is anticipated to witness significant growth in the next few years.
Based on technology, the market is segmented into digital and analog. The digital segment grabbed XX% market share of the audiology devices market in 2020. The segment is expected to grow at a considerable CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. However, the analog segment is anticipated to grow at a rapid rate in the upcoming years.
For a better understanding of the market adoption of the audiology devices, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the audiology devices industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players and frequent product launches in the region.
Some of the major players operating in the market are Medtronic, MedRx, Siemens AG, Cochlear Limited, Maico Audiological Services, Natus Medical Incorporated, GN ReSound Group, William Demant Holding A/S, Starkey Hearing Technologies, Widex A/S, among others. Several M&A's along with partnerships have been undertaken by these players to develop new and advanced audiology devices.
The Global Audiology Devices Market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021 to 2027. The Audiology Devices Market is expected to witness a boost, owing to the surge in the number of people suffering from frequent hearing loss.

Products


Companies

Medtronic, MedRx, Siemens AG, Cochlear Limited, Maico Audiological Services, Natus Medical Incorporated, GN ReSound Group, William Demant Holding A/S, Starkey Hearing Technologies, Widex A/S

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1 Market Definitions

1.2 Objective of the Study

1.3 Limitation

1.4 Stake Holders

1.5 Currency Used in Report

1.6 Scope of the Global Audiology Devices Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 Research Methodology for the Global Audiology Devices Market

2.1.1 Main Objective of the Global Audiology Devices Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 COVID-19 IMPACT

6 GLOBAL AUDIOLOGY DEVICES MARKET REVENUE

7 MARKET INSIGHTS BY PRODUCT

7.1 Hearing Aids

7.2 Cochlear Implants

7.3 BAHA/BAHS

7.4 Diagnostic Devices

7.5 Others

8 MARKET INSIGHTS BY TECHNOLOGY

8.1 Digital

8.2 Analog

9 MARKET INSIGHTS BY REGION

9.1 NORTH AMERICA AUDIOLOGY DEVICES MARKET

9.1.1 United States

9.1.2 Canada

9.1.3 Rest of North America

9.2 EUROPE AUDIOLOGY DEVICES MARKET

9.2.1 Germany

9.2.2 France

9.2.3 United Kingdom

9.2.4 Spain

9.2.5 Italy

9.2.6 Rest of Europe

9.3 ASIA PACIFIC AUDIOLOGY DEVICES MARKET

9.3.1 China

9.3.2 Japan

9.3.3 India

9.3.4 Australia

9.3.5 Rest of Asia Pacific

9.4 REST OF THE WORLD AUDIOLOGY DEVICES MARKET

10 AUDIOLOGY DEVICES MARKET DYNAMICS

10.1 Market Drivers

10.2 Market Challenges

10.3 Impact Analysis

11 AUDIOLOGY DEVICES MARKET OPPORTUNITIES

12 AUDIOLOGY DEVICES MARKET TRENDS & INSIGHTS

13 LEGAL & REGULATORY FRAMEWORK

14 DEMAND AND SUPPLY SIDE ANALYSIS

14.1 Demand Side Analysis

14.2 Supply Side Analysis

14.2.1 Top Product Launches

14.2.2 Top Business Partnerships

14.2.3 Top Merger & Acquisitions

15 VALUE CHAIN ANALYSIS

16 COMPETITIVE SCENARIO

16.1 Porter's Five forces analysis

16.1.1 Bargaining power of Supplier

16.1.2 Bargaining power of Buyer

16.1.3 Industry Rivalry

16.1.4 Availability of Substitute

16.1.5 Threat of new Entrants

17 COMPANY PROFILED

17.1 Medtronic

17.1.1 Key Facts

17.1.2 Business Description

17.1.3 Key Product/Services Offerings

17.1.4 Growth Strategy

17.1.5 SWOT Analysis

17.1.6 Key Financials

17.1.6.1 Revenue Split

17.1.6.2 Financial Overview of Medtronic

17.1.7 Recent Developments

17.1.7.1 Product Launch

17.1.7.2 Partnerships

17.1.7.3 Business Expansion and Investments

17.1.7.4 Merger and Acquisition

17.2 MedRx

17.3 Siemens AG

17.4 Cochlear Limited

17.5 Maico Audiological Services

17.6 Natus Medical Incorporated

17.7 GN ReSound Group

17.8 William Demant Holding A/S

17.9 Starkey Hearing Technologies

17.10 Widex A/S

18 DISCLAIMER

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