Home > Healthcare & Medical Devices > Audiology Devices Market
Audiology Devices Market Size exceeded USD 7.8 billion in 2018 and is anticipated to grow at a CAGR of over 5.7% from 2019 to 2025. Growing incidences of otic disorders will boost the market growth. According to WHO, it is poised 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.
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Positive regulatory scenario will foster the market expansion during 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. However, concerns regarding aesthetic appeal may hinder the industry growth to certain extent.
Report Coverage | Details |
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Base Year: | 2018 |
Market Size in 2018: | 7.8 Billion (USD) |
Forecast Period: | 2019 to 2025 |
Forecast Period 2019 to 2025 CAGR: | 5.7% |
2025 Value Projection: | 11.4 Billion (USD) |
Historical Data for: | 2014 to 2018 |
No. of Pages: | 110 |
Tables, Charts & Figures: | 48 |
Segments covered: | Product, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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Get more details on this report - Request Free Sample PDF
Get more details on this report - Request Free Sample PDF
BAHA/BAHS segment in the audiology devices market is predicted to witness 6.5% growth rate through 2025. 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 the segment growth.
Diagnostic devices segment was valued at more than USD 460 million in 2018. 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 fuel the demand for diagnostic devices thereby, enhancing the segment expansion.
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North America audiology devices market size was over USD 2.5 billion in 2018 led by the increasing awareness regarding availability of advanced hearing aids. Several associations and organizations implement programs to increase the awareness and accessibility to audiology devices.
India market captured 19% of revenue share in 2018. 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 register rise in incidences of auditory disorders particularly noise-induced hearing loss (NIHL) among construction workers that positively impacts the industry revenue. Furthermore, 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 market demand in the coming years.
Some of the companies operating in the 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 leaders are implementing several strategies such as collaborations, mergers, acquisitions and geographical expansions in order to capture higher market share and sustain the competition.
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, market is in the developing phase and will showcase numerous growth opportunities with advent of technology.
Market, By Product (USD million)
The above information is provided for the following regions and countries: