Audiology Devices Market Size By Product (Hearing Aids [In-the-Ear Hearing Aids, Receiver-in-the-Ear (RITE), Behind-the-Ear (BTE), Canal Hearing Aids ITC, CIS and IIC], Cochlear Implants, BAHA/BAHS, Diagnostic Devices [Tympanometers, Otoscopes, Audiometer), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025

Published Date: Aug 2019  |  Report ID: GMI426  |  Authors: Sumant Ugalmugale

Report Format: PDF   |   Pages: 110   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Audiology Devices Market Size was valued at USD 7.8 billion in 2018 and is expected to witness 5.7% CAGR from 2019 to 2025.
 

U.S. Audiology Devices Market Size, By Product, 2018 & 2025 (USD Million)

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Growing incidences of otic disorders will boost the market growth. According to WHO, it is anticipated that by 2050 over 900 million people will suffer from hearing loss. Hearing loss occurs due to several reasons such as complications at the time of birth, genetic mutations, chronic ear infections, excessive exposure to noise and ageing. Therefore, to overcome difficulties arising from hearing loss, people have started preferring audiology devices such as cochlear implants that significantly improve person’s hearing ability. Above mentioned factors should escalate the audiology devices industry growth in the coming years.
 

Positive regulatory scenario will boost audiology devices market over the forecast timeframe. Regulatory authorities such as FDA and Europe Commission have framed favourable regulations for OTC hearing devices that will make them easily available to consumers through retail outlets without intervention of audiologists. Thus, regulations imposed for increasing the accessibility of audiology devices will positively impact otological devices market growth in forthcoming years. However, concerns regarding aesthetic appeal may hinder the global market growth to certain extent.
 

Audiology Devices Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 7.8 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 5.7% 2025 Value Projection: 11.4 Billion (USD)
Pages: 110 Tables, Charts & Figures: 48
Geographies covered (19): U.S., Canada, Germany, UK, France, Spain, Italy, China, Japan, India, Australia, Mexico, Brazil, South Africa, Saudi Arabia
Segments covered: Product, and Region
Companies covered (13): AMBCO, Benson Medical Instruments, Cochlear Ltd, GN Store Nord A/S, MED-EL GmbH, MedRX, Medtronic Inc, Nurotron Biotechnology Co. Ltd, Sivantos Pte. Ltd., Sonova Holdings, Starkey Hearing Technologies, Widex, Demant
Growth Drivers:
  • Increasing geriatric population
  • Rising incidence of hearing loss disorders globally
  • Technological and product innovation in developed countries
  • Favorable regulatory scenario in North America and Europe
Pitfalls & Challenges:
  • Concerns regarding aesthetic appeal

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By Product

BAHA/BAHS segment of audiology devices is anticipated to witness around 6.5% growth during the analysis time frame. BAHA implanting hearing device system is an innovative technology that has been approved by FDA to treat hearing loss. The technology combines sound processors with small titanium fixture that is implanted behind the ear. BAHA audiology devices are mostly preferred by people suffering from chronic otitis media (a group of inflammatory diseases associated with middle ear), cholesteatoma, acoustic neuroma and Meniere’s disease that will drive segmental growth.
 

Diagnostic devices segment was valued for more than USD 460 million in 2018 and it will grow substantially in coming years. Currently available diagnostic devices such as tympanometers, otoscopes and audiometer provide accurate diagnosis along with qualitative analysis pertaining to degree of hearing loss. Additionally, diagnosing devices provide images that assist surgeons during surgical procedures increasing the surgery success rate. Moreover, growing awareness regarding early otological disease diagnosis will foster demand for diagnostic devices thereby, enhancing the segmental growth.

 

Germany Audiology Devices Market Size, By Hearing Aids, 2018 (USD Million)
Germany Audiology Devices Market Size, By Hearing Aids, 2018 (USD Million)

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By Region

Germany market size is estimated to witness more than 6% CAGR over the forecast timeline. Increasing incidence of hearing disorders, favourable regulatory scenario and supportive government initiatives will favour Germany’s audiology devices market growth. Additionally, availability of technologically advanced audiology devices and favourable reimbursement policies in the country will raise their demand, thereby stimulating the industry growth.
 

Indian market accounted for around 19% revenue share in 2018 and it is anticipated to witness significant growth over the forecast period. Surging noise pollution levels lead to increase in number of cases suffering from hearing impairment and disorders thereby escalating demand for audiology devices in India. Metro cities of India witness rise in incidences of auditory disorders particularly noise-induced hearing loss (NIHL) among construction workers that positively impacts the industry growth. Additionally, presence of several associations such as Indian Speech and Hearing Association (ISHA), raising awareness among people for early diagnosis and treatment of hearing ailments will trigger the market growth in the near future.
 

Latin America Audiology Devices Market Size, By Country, 2025 (USD Million)
Latin America Audiology Devices Market Size, By Country, 2025 (USD Million)

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Competitive Market Share

Some of the industry players operating in the audiology devices market are AMBCO, Benson Medical Instruments, Cochlear, GN Store Nord, MED-EL, MedRX, Medtronic, Nurotron Biotechnology, Sivantos, WIDEX, Sonova, Starkey Hearing Technologies and William Demant. These industry players are implementing several strategies such as collaborations, mergers, acquisitions and geographical expansions in order to capture higher audiology devices industry share and sustain the competition.
 

Recent industry developments:

  • In December 2017, Cochlear Limited announced strategic collaboration with Sensorion, a pioneering biotech company engaged in providing solutions based on hearing implantable. This collaboration aimed at enhancing Cochlear’s product portfolio.
     
  • In January 2019, GN hearing launched most intuitive and personalized hearing solutionthat enhances users experience. This new product launch allows company to extend its existing product offerings in audiology devices market.
     

Audiology Devices Industry Background

Audiology devices industry can be traced back to 1898 that initiated with the introduction of electrical hearing aid. Miller Reese Hutchison invented portable hearing aid that was successfully accepted to manage hearing loss. In early 1920s, first audiometer was developed. Even though, technology was advanced enough to design audiometer, the term “audiology” was coined in 1946.  After several years, with advancements in technology, in 1996 modern hearing aids were developed. These technologically advanced hearing aids had commendable features that helped it to gain popularity. Lately, the U.S. FDA approved use of smaller hearing aids that are efficient and diffuses sound vibrations to the ear utilizing precise laser beam. Traditional digital and analog sound-transmission technology has been replaced by the recently developed advanced technology integrated in hearing aids. Currently, audiology devices industry is in the developing phase and will witness numerous growth opportunities with advent of technology.


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