Overview and Scope
Hearing diagnostic devices and equipment are used for testing and evaluating hearing loss. These devices usually consist of an embedded hardware unit connected to a pair of headphones and a test subject feedback button, sometimes controlled by a standard personal computer.
Sizing and Forecast
The hearing diagnostic devices and equipment market size has grown rapidly in recent years. It will grow from $2.19 billion in 2023 to $2.43 billion in 2024 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to increased geriatric population, increased noise pollution, strong economic growth in emerging markets and growth in the number of healthcare facilities.
The hearing diagnostic devices and equipment market size is expected to see rapid growth in the next few years. It will grow to $3.61 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increase in hearing loss prevalence, rise in healthcare expenditure and increase in healthcare access. Major trends in the forecast period include focus on adoption of artificial intelligence, remote hearing screening, integration of wireless technology with hearing diagnostic devices, digital otoscope, rising investments and increasing collaborations.
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Segmentation & Regional Insights
The hearing diagnostic devices and equipment market covered in this report is segmented –
1) By Type: Otoacoustic Emission (OAE), Audiometers, Otoscopes, Tympanometers, Other Types
2) By Indication: Conductive Hearing Loss, Sensorineural Hearing Loss, Combination Hearing Loss, Other Indications
3) By End-User: Hospitals, Clinics, Personal Care, Ambulatory Care
North America was the largest region in the global hearing diagnostic devices and equipment market in 2023. Asia-Pacific was the second largest market in hearing diagnostic devices and equipment market. The regions covered in the hearing diagnostic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Growth in the hearing diagnostic and equipment market is attributed to the increasing number of hearing loss cases. This increased prevalence of hearing loss is due to noise pollution, hearing diseases, ototoxic medications, hereditary disorders, birth complications, and a rising geriatric population. According to the World Health Organization (WHO), the hearing diagnostic device market is expected to make enormous advancements and investments in hearing diagnostic devices and equipment even as the number of affected individuals is expected to increase to 900 million by 2050 in the world. According to the National Institute on Deafness and Other Communication, disorders states that approximately one in three people in the United States between the ages of 65 and 74 have hearing loss, and half of those older than 75 have difficulty hearing. Hence, the rising prevalence of hearing disorders and losses drives the hearing diagnostic devices and equipment market.
Key Industry Players
Major companies operating in the hearing diagnostic devices and equipment market report are Demant A/S, WS Audiology, Natus Medical Incorporated, Hill Rom, Grason Stadler, MeCan Medical, Amplivox, Inventis, Western Surgical, INVENTIS srl, Xiamen Retone Hearing Technology Co., Ltd, Phonak Canada Ltd, Phonak Romania, Oticon, William Demant, Earlens, House of Hearing, UHC Hearing Healthcare, Hangzhou AcoSound Technology Co., Ltd, Microson, Interacoustics, Signia Pro, Grason-Stadler, Zsa Ritm OOO, Hansaton, Shenzhen Zhongde Audio-Technical Co., Ltd, Xion Medical, MED-EL South Africa, Honsun Co. Ltd, KaWe Medical, Luxamed, MAICO Diagnostics, Oticon India, Sibelmed, Zumax Medical, Aurica, Starkey, Bernafon Canada Ltd, Starkey Kenya, Resonance Audiology, Starkey do Brasil Ltda, Dino-Lite, Demant Szczecin, Cape Hearing Aids, Heine Optotechnik, Vivosonic, Alpaca Audiology, HearingLife, Foshan Vohom Technology Co., Ltd, Phonak Nigeria, Bose, Starkey Nigeria, Hass Group, orlvision GmbH, Welch Allyn, Phonak India, Guangzhou Melison Medical Instrument Co., Ltd, Widex India Pvt Ltd, Abonemed, Phonak South Africa, Tremetrics, Rudolf Riester GmbH, Narang Medical Limited, Phonak (UAE) Digital Ears Trading LLC, Cochlear, Hearing Health USA, iClear HealthCare, SyncVision Technology Corporation
The hearing diagnostic devices and equipment market report table of contents includes:
1. Executive Summary
2. Hearing Diagnostic Devices And Equipment Market Characteristics
3. Hearing Diagnostic Devices And Equipment Market Trends And Strategies
4. Hearing Diagnostic Devices And Equipment Market – Macro Economic Scenario
5. Global Hearing Diagnostic Devices And Equipment Market Size and Growth
…
32. Global Hearing Diagnostic Devices And Equipment Market Competitive Benchmarking
33. Global Hearing Diagnostic Devices And Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Hearing Diagnostic Devices And Equipment Market
35. Hearing Diagnostic Devices And Equipment Market Future Outlook and Potential Analysis
36. Appendix
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