Press release
The Neonatal Hearing Screening Devices Market to grow on the back of on-demand healthcare, witnessing a CAGR of 3.5%
The Global Neonatal Hearing Screening Devices Market value is projected to exceed US$ 44.4 million by the year 2025 at a CAGR of 3.5%. The global neonatal hearing screening devices market is expected to grow rapidly due to rising birth rates in developing nations, thereby creating significant potential prospects for this industry. Several developing countries have a high birth rate and a high risk of newborn disorders, necessitating large investments in neonatal care, which will support the growth of the global neonatal hearing screening devices market in the near future.
Market Overview:
The global neonatal hearing screening devices market was valued at US$ 38.7 Mn in 2022 and is expected to grow at a CAGR of 3.5% from 2022 to 2025. The increasing prevalence of hearing loss among newborns is the primary driver of this market's growth.
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Drivers and Restraints
The neonatal hearing screening devices market is driven by factors such as the increasing prevalence of hearing loss among newborns, growing awareness about the benefits of early detection and intervention, advancements in screening device technology, government initiatives, and rising healthcare expenditure. However, high costs, limited availability of skilled personnel, false positives, limited reimbursement, and cultural and social barriers can restrain market growth. The overall growth of the market will depend on balancing these drivers and restraints.
Company Profiles:
Natus Medical Incorporated
Welch Allyn (Hill-Rom Inc.)
Demant A/S
Path Medical GmbH
Intelligent Hearing Systems
Vivosonic Inc.
Pilot Blankenfelde GmbH
Echodia SAS
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Asia Pacific and Europe to Hold Major Growth Opportunities
Based on regional analysis, the growth opportunities for the neonatal hearing screening device market are increasing in Europe and the Asia Pacific due to the growth of pediatric clinics and increased awareness levels regarding newborn care. Moreover, the demand for easy-to-use and cost-effective newborn hearing screening equipment is expanding considerably in major emerging nations such as India and China, stimulating market growth. The Asia-Pacific region is looked upon as the most appealing region for the neonatal hearing screening devices market because of the large customer base, excellent reimbursement environment, and accessibility and affordability of diagnostic services.
Neonatal Hearing Screening Devices Market Categorization
Neonatal Hearing Screening Devices Market by By Product type
Auditory Brainstem Response (ABR) Systems
Otoacoustic Emission (OAE) Systems
Combination Systems
Neonatal Hearing Screening Devices Market By Modality
Table Top Devices
Trolley Mounted Devices
Portable and Hand-held Devices
Neonatal Hearing Screening Devices Market By End User
Hospitals
Specialty Clinics
Others
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