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Audiological Devices Market trends and dynamics, Drivers, Competitive landscape and Future Opportunities
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Hearing impairment is usually due to genetic predisposition and chronic ear infection. Increasing prevalence of hearing problems is also fueling the growth of the market in the coming years. According to World Health Organization, globally approximately 360 million people were disabled with hearing loss in 2012. Audiological devices are hearing aids used for the diagnosis and treatment of hearing impairment and balance problems. An audiological device comprises microphone, speaker and amplifiers.
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Geographically, Europewill be leading the global audiological devices market in the coming years, due to propitious reimbursement policies, increasing government support and introduction of innovative products. Asia-Pacific is the fastest growing region in the global audiological devices market. The major reasons for the fastest growth of audiological devices market in the region are increasing healthcare expenditure, large pool of patients, increasing government support, improving healthcare infrastructure, and increasing incidence of deafness in the region. Moreover, the audiological devices market is growing due to increasing awareness of healthcare in the emerging countries, such as India and China, of Asia-Pacific region.
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Some of the companies operating in the global audiological devices market are Siemens Healthcare, Cochlear Limited, Widex A/S, Bernafon, Sonova Holdings AG, SeboTek Haring Systems, GN ReSound Group, William Demant Holding A/S, Beltone, and Starkey Hearing Technologies.
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