Audiological Devices industry is poised to flourish at a 5.3% CAGR | Fact.MR Study

 The Audiological Devices market reached a valuation of US$ 10.27 Billion by 2021, and is likely to register a Y-o-Y growth rate of 4.0% in 2022, closing at US$ 10.81 Billion. Furthermore, across the 2022-2032 period of assessment, growth is expected to accelerate at a whopping 5.3% CAGR, reaching US$ 18.13 Billion.

According to Fact.MR, adoption of audiological devices is rising, attributed to the increasing prevalence of hearing loss. Cases of Hearing loss are rising constantly, owing to the exposure of loud noise in the environment. As per the World Health Organization (WHO), around 466 million people suffer from some form of hearing loss on the global aspect, and this number is expected to touch 900 million by the year 2050.

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The readability score of the Audiological Devices Market Demand report is good as it offers chapter-wise layout with each section divided into a smaller sections.

The report encompasses graphs and tables to show the entire assembling. Pictorial demonstration of the definite and estimated values of key segments is visually appealing to readers. 

This Audiological Devices market outlook report explicates on vital dynamics such as the drivers, restraints and opportunities for key players and competitive analysis of Audiological Devices along with key stakeholders as well as emerging players associated with the manufacturing of product.

Competitive Landscape:

Prominent players in the Audiological Devices Industry are taking advantage of the rapidly increasing demand for the Audiological Devices in various applications. To further their outreach, players are relying on collaborations, partnerships and acquisitions with existing small, medium and large-scale vendors. Some prominent market developments are as follows :

  • In August 2022, GN declared to introduce the Jabra Enhance Plus, a little true wireless earbud that offers a 3-in-1 experience of calls, music, and hearing enhancement.
  • In April 2022, for its brand, Signia, WS Audiology A/S received an iF Design award. For the third time, Signia received the prize owing to their Insio Charge & Go AX hearing aids. It is renowned for its comfort and discrete shape, contactless charging, and direct streaming from Android and iOS.
  • In February 2021, Cochlear Limited announced it is partnering with leading hearing health experts to conduct the largest ever international clinical study of an investigational cochlear implant that releases a glucocorticoid (anti-inflammatory) drug therapy directly to the cochlea. The CI-DEX Study is a pivotal, prospective, multi-centre, randomised, blinded study evaluating the effect of a glucocorticoid releasing cochlear implant in up to 120 adults in Australia and the United States with moderate to profound sensorineural hearing loss.

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Key Segments Covered in the Audiological Devices Industry Survey:

·         By Product :

    • Hearing Aids
    • In-the-ear Hearing Aids (ITE)
    • Receiver-in-the-ear Hearing Aids (RITE)
    • Behind-the-ear Hearing Aids (BTE)
    • Canal Hearing Aids (CHA)
    • Cochlear Implants
    • Bone-anchored Healing Aids
    • Diagnostic Devices:
      • Audiometers
      • Octoscopes
      • Tympanometers

·         By Disease Type :

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

·         By End-User :

    • Hospitals
    • Ambulatory Surgical Centers
    • Clinics

·         By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

How will be insights and market estimations provided in the Fact.MR report on the Demand of Audiological Devices make a difference?

  • The study takes a closer look at the major economic turmoil, with a focus on the recent COVID-19 pandemic disruptions
  • The assessment of key growth dynamics highlights the attractiveness of new automation technologies and offers readers insight on the prospect of these during the forecast period
  • The study tries to offer a balance perspective of the opportunities in mature and the most lackluster markets
  • Provides scrutiny of the industry trends that have shaped recent government policies
  • Provides an account of major breakthroughs in all segments that might change the course of the market considerably
  • Provides an incisive analysis of socio-political milieu in which the key markets operate, and how will that influence the lucrativeness of the overall Audiological Devices  Market
  • Analyzes how collaborations and partnerships among players from different industries shape the key growth dynamics in the near future
  • Evaluates the role of various stages of funding on new growth avenues in key regional markets 

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