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Audiology Devices Market

Audiology Devices Market By Product Type (Hearing Aids Market, Cochlear Implants, BAHA/BAHS, and Diagnostic Devices) – Growth, Future Prospects, and Competitive Analysis, 2016 – 2023
Report Book

Published Date: September 2016
Category: Medical Devices
Report ID: 57909
Report Format: PDF
No of Pages: 190

Rating: Credence Reports

Market Insights

The “Audiology Devices Market- Growth, Future Prospects, and Competitive Analysis, 2016 – 2023” offers strategic insights into the audiology devices market along with the market size and estimates for 2013 to 2023. The said research study covers an in-depth analysis of multiple market segments based on the type of products and different geographies. Audiology devices are known as electronic equipment that is designed for the diagnosis and treatment of hearing impairment in patients. These devices are highly proficient for treating hearing impairment or other disorders related to hearing loss, such as congenital hearing problems and nerve deafness. As per severity type, sensorineural, conductive and mixed hearing loss are the three types of hearing loss. Market experts suggest that audiology devices are generating high demand worldwide as communication is the most vital skill that develops relationships and networking. The market introduction of advanced technologies such as wireless devices and, ultimately, high acceptance of these devices by the geriatric population, along with an increase in demand for cost-efficient and high-performance devices, are some of the key drivers of this market. Asia-Pacific and Lain America are the fastest growing audiology devices market in the near future due to untapped opportunities in this region’s emerging countries, such as India, Brazil, and China. The competitive landscape suggests that the market is oligopolistic and is marked by a large number of mergers and acquisitions. The market was led by Sonova Holding AG in 2015 as the company manufactures products in line with existing market trends and user preferences. For example, in 2014, the company launched PhonakAudeo V, which accommodates preferences specific to the use of aesthetically attractive products. Moreover, Sonova remains on the strategy to merge and acquire companies to expand its market penetration and geographical reach.

The geographical segmentation comprised regions such as North America, Europe, Asia-Pacific, Latin America & Middle East, and Africa. Each geographical region is further split to provide market revenue for select countries such as the U.S., Canada, the U.K., Germany, China, Japan, Brazil, and GCC countries. Market size and forecast for these segments from 2013 to 2023 and their CAGRs for the period 2016 to 2023 are provided in this report.

The audiology devices market is observed as the most diversified and competitive market, comprising a large number of players. The market is dominated by several players, depending on their major competencies. The key players in this market are Sonova Holding AG, William Demant Holdings A/S, GN Re Sound Group, Seimens Healthcare, Starkey Hearing Technologies, Widex A/S, and Others.

Based on the type of product, the global audiology devices market is segmented as follows:

  • Hearing Aids
  • Cochlear Implants
  • BAHA/BAHS
  • Diagnostic Devices

In 2015, hearing aids accounted for 65.3% of the overall market and were anticipated to maintain market dominance throughout 2016 – 2023. The mounting prevalence and incidence of hearing impairments and the aging population are the key factors assisting the growth of the audiology devices market. Market experts suggest that significantly rising market penetration and acceptance of digital hearing aid technology and demand for aesthetically attractive hearing aids are additional key factors responsible for the overall market growth. In addition, the rise in full or partial reimbursement for hearing aids devices by the government of some countries and the augmentation in the prevalence of hearing impairments such as congenital hearing problems and nerve deafness assist the growth of the global audiology devices market. It was observed that growth in the audiology devices market for stakeholders or key manufacturers is the direct effect of their rising contribution in retail sales and product portfolio expansion. Otolaryngologist suggests that early diagnosis of hearing loss significantly enhances the treatment procedure. Hearing loss diagnosis comprises ear examination with the support of equipment such as audiometers, otoscopes, and tympanometers.

For this study, the global audiology devices market is categorized into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

In 2015, Europe accounted for the largest market share of 40.1%, mainly due to the rising prevalence of hearing impairment, mounting public awareness related to diagnosis, and high market penetration of novel and advanced products accompanied by the presence of supportive reimbursement policies. According to the British MRC Institute of Hearing Research study, around 900 million people in the world will suffer from hearing loss in 2025, which is expected to be an opportunity for audiology device manufacturers. In addition, Europe is anticipated to account for more than 10% of this projected prevalence. Hence, the development of the audiology devices market in this region is also projected to witness significant growth owing to the presence of supportive and uniform government regulations across the Western European region. During the forecast period, 2016 – 2023 Asia-Pacific region is expected to observe exponential growth due to factors such as the presence of unmet needs of patients suffering from hearing loss along with swiftly developing healthcare infrastructure in the emerging markets of the region, such as India and China, and the consequent establishment of retail chains by key market players. Key market players in Asia-Pacific mainly comprise GN ReSound, Siemens Healthcare, Starkey, Sonova, and Wide

Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions

Chapter 2 Executive Summary
2.1 Global Audiology Devices Market, by Product Type, 2015 v/s 2023 (Value %)
2.2 Global Audiology Devices Market, by Geography, 2015 (Value %)

Chapter 3 Global Audiology Devices Market Overview
3.1 Overview
3.2 Market Drivers
3.2.1 Rising prevalence of hearing impairment coupled with aging population
3.2.2 Incessant technological development in the audiology devices
3.2.3 Supportive government policies and initiatives that increases the public awareness related to audiology devices
3.3 Market Restraints
3.3.1 Premium priced products and surgical procedures of device implantation
3.4 Market Opportunities
3.4.1 Future research and growth in cochlear implants is expected to be the key opportunity in the near future
3.5 Attractive Investment Proposition
3.6 Market Competition Assessment: Audiology Devices, by Key Players

Chapter 4 Global Audiology Devices Market Analysis, By Product Type
4.1 Overview
4.2 Hearing Aids
4.2.1 In-The-Ear hearing aid
4.2.2 Receiver-in-the-Ear (RITE) hearing aid
4.2.3 Behind-the-Ear (BTE) hearing aid
4.2.4 Canal hearing aids ITC, CIC and IIC hearing aid
4.3 Cochlear Implants
4.4 BAHA/BAHS
4.5 Audiology Diagnostic Devices

Chapter 5 Global Audiology Devices Market, By Geography
5.1 Preface
5.2 North America
5.3 Europe
5.4 Asia Pacific
5.5 Latin America
5.6 Middle East and Africa

Chapter 6 Company Profiles
6.1 Ambco
6.1.1 Ambco: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.2 Benson Medical
6.2.1 Benson Medical: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.3 Advanced Bionics
6.3.1 Advanced Bionics: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.4 Amplicomms
6.4.1 Amplicomms: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.5 GN ReSound Group
6.5.1 GN ReSound Group: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.6 Tremetrics
6.6.1 Tremetrics: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.7 Sophono
6.7.1 Sophono: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.8 Phonak
6.8.1 Phonak: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.9 Inmedico
6.9.1 Inmedico: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.10 Micro-tech
6.10.1 Micro-tech: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.11 TV Ears
6.11.1 TV Ears: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.12 Geemarc
6.12.1 Geemarc: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.13 William Demant Holding A/S
6.13.1 William Demant Holding A/S: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.14 Sonova Holdings AG
6.14.1 Sonova Holdings AG: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.15 Widex A/S
6.15.1 Widex A/S: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
6.16 Starkey Hearing Technologies
6.16.1 Starkey Hearing Technologies: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)

List of Figures

FIG. 1 Audiology Devices Market: Research Methodology
FIG. 2 Global Audiology Devices Market, by Product Type, 2015 v/s 2023 (Value %)
FIG. 3 Global Audiology Devices Market, by Geography, 2015 (Value %)
FIG. 4 Attractive Investment Proposition for Audiology Devices Market, by Geography, 2015
FIG. 5 Cochlear Implants Market, 2013 – 2023 (USD Mn)
FIG. 6 BAHA/BAHS Market, 2013 – 2023 (USD Mn)
FIG. 7 Audiology Diagnostic Devices Market, 2013 – 2023 (USD Mn)
FIG. 8 North America Audiology Devices Market , 2013 – 2023 (USD Mn)
FIG. 9 Europe Audiology Devices Market , 2013 – 2023 (USD Mn)
FIG. 10 Asia-Pacific Audiology Devices Market , 2013 – 2023 (USD Mn)
FIG. 11 Latin America Audiology Devices Market , 2013 – 2023 (USD Mn)
FIG. 12 Middle East and Africa Audiology Devices Market , 2013 – 2023 (USD Mn)

List of Tables

TABLE 1 Market Competition Assessment: Audiology Devices, by Key Players
TABLE 2 Global Audiology Devices Market, by Product Type, 2013-2023 (USD Mn)
TABLE 3 Global Hearing Aid Market, by Type, 2013-2023 (USD Mn)
TABLE 4 Global Audiology Devices Market, by Geography, 2013 – 2023 (USD Mn)
TABLE 5 Ambco: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 6 Benson Medical: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 7 Advanced Bionics: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 8 Amplicomms: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 9 GN ReSound Group: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 10 Tremetrics: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 11 Sophono: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 12 Phonak: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 13 Inmedico: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 14 Micro-tech: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 15 TV Ears: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 16 Geemarc: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 17 William Demant Holding A/S: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 18 Sonova Holdings AG: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 19 Widex A/S: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)
TABLE 20 Starkey Hearing Technologies: Company Snapshot (Business Description; Financial Health and Budget Allocation; Product Position/Portfolio; News Coverage)

Frequently asked questions :

What is the size of Audiology Devices Market?

The market for Audiology Devices Market is expected to reach US$ XX Bn in 2023.

What is the Audiology Devices Market CAGR?

The Audiology Devices Market is expected to see significant CAGR growth over the coming years, at XX%.

What is the Forecast period considered for Audiology Devices Market?

The report is forecasted from 2016-2023.

What is the base year considered for Audiology Devices Market?

The base year of this report is 2021.

Who are the major players in this market?

Ambco, Benson Medical, Advanced Bionics, Amplicomms, GN ReSound Group,are some of the major players in the global market.

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