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The global audiological devices market is expected to grow from USD 11.34 billion in 2022 to USD 19.64 billion by 2030, at a CAGR of 7.11% during the forecast period 2022-2030. The Asia Pacific audiological devices market is expected to grow the fastest during the forecast period.
The human body interacts with its surrounding environment with the help of its senses. The five senses enable the body to react/respond to environmental stimuli in touch, aroma, sound or sight. For instance, the nose picks up olfactory indicators and helps when there is a gas leak. Similarly, the eyes assist with visual cues. All the senses are equally important to living a fulfilling life. An impairment of one or more senses impacts or degrades the quality of life. It leads to marginalization, social isolation, mental problems and other minor/major problems that an average human doesn't not experience. Hearing impairment is the partial or complete loss of hearing. The causes can be hereditary or trauma. Occupational hazards include jobs that have constant and prolonged exposure to loud noises, like construction sites. Recreational risks have gained traction in the past few years with the increasing adoption of electronic devices and loud music and concert trends. Audiological devices aid the individual suffering from hearing loss in gaining back these abilities. They amplify the sounds and make them louder, allowing the user to improve their hearing and eventually take control of their life. They can communicate and participate more actively with these devices. Several audiological devices are available in the market. They hear aids and cochlear implants, to name a few. These devices vastly improve the life of the user. The awareness about these devices and their benefits has risen over the years. This is anticipated to contribute to its growth in the forecast period.
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December 2022 - A team from the University of Washington reports that they have created a test that uses only a standard smartphone, earbuds, and microphone and is sensitive enough to identify hearing loss. The rest of the setup, excluding the smartphone, will cost roughly $10. At Seattle Children's Hospital and the Center on Human Development and Disability at the University of Washington, the researchers tested the sensitivity and accuracy of their homemade setup on 201 individuals with ages ranging from one week to 20. The development team is already considering methods to increase the device's utility. They are now getting in professionals to expand their coverage. To train local healthcare professionals to do the tests, they have partnered with the University of Nairobi and the Kenya Ministry of Health. The initiative is aimed at offering access to diagnostics in low-and-middle-income countries.
The increasing prevalence of hearing impairment – hearing impairment can be the partial or complete loss of hearing in an individual. Hearing loss severely impacts the individual's life. It can cause anger, isolation, social withdrawal, denial, anxiety and severe mental exhaustion. It can also lead to the loss of several educational and employment opportunities. Despite several government initiatives to bring them into mainstream society, individuals with hearing impairment are marginalized. The increasing geriatric population is contributing to the rising prevalence of the population with hearing impairment as old age makes one more vulnerable to such conditions. The constant and prolonged use of electronics for listening to music and other purposes is also contributing to the rising patient pool. Occupational or recreational hazards like loud music at concerts, festivals and other functions have led to several individuals suffering from temporary or permanent hearing loss. Other factors like genetics or medication side effects also contribute to the rising prevalence of hearing impairment. Therefore, the audiological devices market would be driven by the increasing number of individuals suffering from hearing impairment. There is a growing acceptance of cochlear implants, which is fuelling the market's growth.
High cost of audiological devices – medical technological devices, instruments and equipment are highly sophisticated pieces of machinery. They are developed after extensive research. Private players, as well as government institutions, invest millions of dollars each year to develop audiological devices that improve the quality of life of their users. The primary driver of this innovation is that these audiological devices are profit-making products once introduced in the market. Private players have to recover their investment amount and make supernormal profits to encourage them to continue such product innovations. Therefore, these audiological devices have a high retail price as the manufacturer has to recover the research and production costs before their patent expires, and they lose the exclusive market privilege. The high cost of the audiological devices market will limit the market's growth.
Technological advancements – as the population with hearing impairment increases with the rising geriatric population and increasing recreational hazards, so will the research and development of more advanced audiological devices to exploit this growing market. The growing research and development investment aims to develop enhanced audiological devices with better quality, output and cosmetic appeal. The innovations will also facilitate market competition and reduce production costs, making audiological devices more affordable. Affordable audiological devices will enable market players to expand their reach into low-and-middle-income countries. Therefore, technological advancements will offer lucrative market opportunities in the forecast period.
Lack of awareness – a significant portion of market players in the audiological market are consolidated in the world's developed countries. These devices are accessible to the population of these nations, given the presence of several market players and favourable government reimbursement policies. However, most of the population suffering from hearing impairment resides in low-and-middle-income countries without access to basic hospital care. There is a lack of awareness about the presence of audiological devices in these nations. The high cost further adds to the woes of the suffering individuals. The lack of government interventions enabling messaging about the presence of these devices limits access to them. The lack of awareness about audiological devices will challenge the market's growth.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region emerged as the largest global audiological devices market, with a 40.13% market revenue share in 2022. The United States of America dominates the North American audiological devices market. Around 30 million Americans suffer from hearing impairment. The growing geriatric population of the region will increase the number of individuals suffering from hearing impairment. The growing population and the presence of significant market players offering audiological devices in the North American market will drive the region's growth. The government's wide healthcare coverage with positive reimbursement policies also contributes to the rising demand for audiological devices in the regional market. A significant number of audiologists also contribute to the market's development. The high per capita income of the developed nations in the region, along with a high level of awareness about audiological devices and their benefits, aids in the market's growth. The key market players in the audiological devices market are based in the region, which facilitates advanced research and development of better devices. The advancements and innovations reduce costs and improve their accessibility. The improved versions of audiological devices with greater effectiveness contribute to their rising adoption in the region. The cosmetic appeal of the audiological devices has also improved, which aids in the market growth. The Asia Pacific audiological devices market is expected to grow the fastest during the forecast period.
North American Region Audiological Devices Market Share in 2022 - 40.13%
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The product type segment is divided into hearing aids, BAHA/BAHS, diagnostic devices, and cochlear implants. The hearing aids segment dominated the market with a market share of around 55% in 2022. Hearing aids, as the term suggests, assist an individual suffering from hearing impairment to improve their hearing. It is classified as a medical device. It is an electronic piece of technology that is placed behind the ear. The device then makes the receiving sounds louder so the user can hear more clearly. However, new hearing aid devices are also worn in the ear canal. The quality of life improves significantly for a person who utilizes the benefits of hearing aids. They are the most known audiological devices in the market, explaining their dominance in the segment. Awareness of the existence, benefits and accessibility of hearing aids facilitates their dominance. Furthermore, new advancements have improved the performance of hearing aids while making them practically invisible to offer more comfort to the user. The ability to listen, communicate and eventually participate more actively in the social life offered by hearing aids is a driver for the rising adoption of these devices.
The technology segment is divided into digital and analog. The digital segment dominated the market with a market share of around 86% in 2022. With global economies' growing automation and digitization, the audiological devices market has also witnessed a shift towards advanced digital hearing aid devices. Digital technology enables a better experience with improved sound quality, versatility and flexibility to the surrounding environment and reduced feedback. They are equipped with the foundational setup that allows the developers to add newer features like Bluetooth technology without disrupting the device's functions. Digital technology allows manufacturers to offer a wider range of products with a broad price spectrum, which increases the affordability and accessibility of consumers. The significant superiority of digital over analog contributes to its dominance in the market.
The distribution channel segment is divided into retail, government purchases, e-commerce and others. The retail segment dominated the market with a market share of around 56% in 2022. The growing presence of retail market chains dedicated to healthcare products such as drugs, medical devices and other healthcare services is contributing to the segment's growth. The presence of experts who assist and recommend the best products according to customers' needs in a professional manner making the consumer comfortable has contributed to their rising popularity. The developers and manufacturers of audiological devices sign-up for these healthcare retail channels as their distributors, given their extensive network, wider coverage and dedicated services.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 11.34 Billion |
| Market size value in 2030 | USD 19.64 Billion |
| CAGR (2022 to 2030) | 7.11% |
| Historical data | 2019-2020 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Segments | Key Segments are application, product, end-user, and regions |
| Regional Segments | The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa. |
As per The Brainy Insights, the size of the audiological devices market was valued at USD 11.34 billion in 2022 to USD 19.64 billion by 2030.
Global audiological devices market is growing at a CAGR of 7.11% during the forecast period 2022-2030.
The market's growth will be influenced by the increasing prevalence of hearing impairment.
High cost of audiological devices could hamper the market growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Product Type
4.3.2. Market Attractiveness Analysis by Technology
4.3.3. Market Attractiveness Analysis by Distribution Channel
4.3.4. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The increasing prevalence of hearing impairment
5.3. Restraints
5.3.1. High cost of audiological devices
5.4. Opportunities
5.4.1. Technological advancements
5.5. Challenges
5.5.1. Lack of awareness
6. Global Audiological Devices Market Analysis and Forecast, By Product Type
6.1. Segment Overview
6.2. Hearing Aids
6.3. BAHA/BAHS
6.4. Diagnostic Devices
6.5. Cochlear Implants
7. Global Audiological Devices Market Analysis and Forecast, By Technology
7.1. Segment Overview
7.2. Digital
7.3. Analog
8. Global Audiological Devices Market Analysis and Forecast, By Distribution Channel
8.1. Segment Overview
8.2. Retail
8.3. Government Purchases
8.4. E-Commerce
8.5. Others
9. Global Audiological Devices Market Analysis and Forecast, By Regional Analysis
9.1. Segment Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. France
9.3.3. U.K.
9.3.4. Italy
9.3.5. Spain
9.4. Asia-Pacific
9.4.1. Japan
9.4.2. China
9.4.3. India
9.5. South America
9.5.1. Brazil
9.6. Middle East and Africa
9.6.1. UAE
9.6.2. South Africa
10. Global Audiological Devices Market-Competitive Landscape
10.1. Overview
10.2. Market Share of Key Players in the Audiological Devices Market
10.2.1. Global Company Market Share
10.2.2. North America Company Market Share
10.2.3. Europe Company Market Share
10.2.4. APAC Company Market Share
10.3. Competitive Situations and Trends
10.3.1. Product Launches and Developments
10.3.2. Partnerships, Collaborations, and Agreements
10.3.3. Mergers & Acquisitions
10.3.4. Expansions
11. Company Profiles
11.1. Cochlear Ltd.
11.1.1. Business Overview
11.1.2. Company Snapshot
11.1.3. Company Market Share Analysis
11.1.4. Company Product Portfolio
11.1.5. Recent Developments
11.1.6. SWOT Analysis
11.2. GN ReSound Group
11.2.1. Business Overview
11.2.2. Company Snapshot
11.2.3. Company Market Share Analysis
11.2.4. Company Product Portfolio
11.2.5. Recent Developments
11.2.6. SWOT Analysis
11.3. INVENTIS
11.3.1. Business Overview
11.3.2. Company Snapshot
11.3.3. Company Market Share Analysis
11.3.4. Company Product Portfolio
11.3.5. Recent Developments
11.3.6. SWOT Analysis
11.4. MED-EL Medical Electronics
11.4.1. Business Overview
11.4.2. Company Snapshot
11.4.3. Company Market Share Analysis
11.4.4. Company Product Portfolio
11.4.5. Recent Developments
11.4.6. SWOT Analysis
11.5. MedRx Inc.
11.5.1. Business Overview
11.5.2. Company Snapshot
11.5.3. Company Market Share Analysis
11.5.4. Company Product Portfolio
11.5.5. Recent Developments
11.5.6. SWOT Analysis
11.6. Sonova Holdings AG
11.6.1. Business Overview
11.6.2. Company Snapshot
11.6.3. Company Market Share Analysis
11.6.4. Company Product Portfolio
11.6.5. Recent Developments
11.6.6. SWOT Analysis
11.7. Starkey Hearing Technologies
11.7.1. Business Overview
11.7.2. Company Snapshot
11.7.3. Company Market Share Analysis
11.7.4. Company Product Portfolio
11.7.5. Recent Developments
11.7.6. SWOT Analysis
11.8. Widex AS
11.8.1. Business Overview
11.8.2. Company Snapshot
11.8.3. Company Market Share Analysis
11.8.4. Company Product Portfolio
11.8.5. Recent Developments
11.8.6. SWOT Analysis
11.9. William Demant Holding AS
11.9.1. Business Overview
11.9.2. Company Snapshot
11.9.3. Company Market Share Analysis
11.9.4. Company Product Portfolio
11.9.5. Recent Developments
11.9.6. SWOT Analysis
11.10. WS Audiological AS
11.10.1. Business Overview
11.10.2. Company Snapshot
11.10.3. Company Market Share Analysis
11.10.4. Company Product Portfolio
11.10.5. Recent Developments
11.10.6. SWOT Analysis
List of Table
1. Global Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
2. Global Hearing Aids Audiological Devices Market, By Region, 2019-2030 (USD Billion)
3. Global BAHA/BAHS Audiological Devices Market, By Region, 2019-2030 (USD Billion)
4. Global Diagnostic Devices Audiological Devices Market, By Region, 2019-2030 (USD Billion)
5. Global Cochlear Implants Audiological Devices Market, By Region, 2019-2030 (USD Billion)
6. Global Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
7. Global Digital Audiological Devices Market, By Region, 2019-2030 (USD Billion)
8. Global Analog Audiological Devices Market, By Region, 2019-2030 (USD Billion)
9. Global Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
10. Global Retail Audiological Devices Market, By Region, 2019-2030 (USD Billion)
11. Global Government Purchases Audiological Devices Market, By Region, 2019-2030 (USD Billion)
12. Global E-Commerce Audiological Devices Market, By Region, 2019-2030 (USD Billion)
13. Global Others Audiological Devices Market, By Region, 2019-2030 (USD Billion)
14. Global Audiological Devices Market, By Region, 2019-2030 (USD Billion)
15. North America Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
16. North America Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
17. North America Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
18. U.S. Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
19. U.S. Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
20. U.S. Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
21. Canada Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
22. Canada Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
23. Canada Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
24. Mexico Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
25. Mexico Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
26. Mexico Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
27. Europe Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
28. Europe Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
29. Europe Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
30. Germany Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
31. Germany Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
32. Germany Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
33. France Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
34. France Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
35. France Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
36. U.K. Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
37. U.K. Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
38. U.K. Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
39. Italy Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
40. Italy Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
41. Italy Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
42. Spain Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
43. Spain Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
44. Spain Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
45. Asia Pacific Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
46. Asia Pacific Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
47. Asia Pacific Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
48. Japan Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
49. Japan Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
50. Japan Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
51. China Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
52. China Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
53. China Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
54. India Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
55. India Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
56. India Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
57. South America Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
58. South America Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
59. South America Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
60. Brazil Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
61. Brazil Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
62. Brazil Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
63. Middle East and Africa Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
64. Middle East and Africa Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
65. Middle East and Africa Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
66. UAE Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
67. UAE Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
68. UAE Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
69. South Africa Audiological Devices Market, By Product Type, 2019-2030 (USD Billion)
70. South Africa Audiological Devices Market, By Technology, 2019-2030 (USD Billion)
71. South Africa Audiological Devices Market, By Distribution Channel, 2019-2030 (USD Billion)
List of Figures
1. Global Audiological Devices Market Segmentation
2. Audiological Devices Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Audiological Devices Market Attractiveness Analysis by Product Type
9. Global Audiological Devices Market Attractiveness Analysis by Technology
10. Global Audiological Devices Market Attractiveness Analysis by Distribution Channel
11. Global Audiological Devices Market Attractiveness Analysis by Region
12. Global Audiological Devices Market: Dynamics
13. Global Audiological Devices Market Share by Product Type (2022 & 2030)
14. Global Audiological Devices Market Share by Technology (2022 & 2030)
15. Global Audiological Devices Market Share by Distribution Channel (2022 & 2030)
16. Global Audiological Devices Market Share by Regions (2022 & 2030)
17. Global Audiological Devices Market Share by Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the audiological devices market based on below mentioned segments:
Audiological Devices Market by Product Type:
Audiological Devices Market by Technology:
Audiological Devices Market by Distribution Channel:
Audiological Devices Market by Region:
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