The Hearing Diagnostic Devices And Equipment by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hearing Diagnostic Devices And Equipment, 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.
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.
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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
The European Commission adopted two new regulations for medical devices to enhance safety, take effective measures in the event of concerns, and improve traceability. These regulations provide the medical device manufacturers with a stronger mandate for assessment of medical devices by independent notified bodies, a unique identification number for improving traceability throughout the supply chain, availability of clinical data on devices, and provides a central database to provide patients, healthcare professionals and the public with comprehensive information on products. These rules will help manufacturers to meet the standards, safety requirements and to make better-informed decisions.
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 Impact Of COVID-19
5.Hearing Diagnostic Devices And Equipment Market Size And Growth
6. Hearing Diagnostic Devices And Equipment Segmentation
7.Hearing Diagnostic Devices And Equipment Regional And Country Analysis
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27.Hearing Diagnostic Devices And Equipment Competitive Landscape And Company Profiles
28.Hearing Diagnostic Devices And Equipment Key Mergers And Acquisitions
29. Hearing Diagnostic Devices And EquipmentFuture Outlook and Potential Analysis
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