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Tinnitus Management Market – Potential Growth Opportunities in Developing Economies
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Patients Opting for Advanced Technologies like Invisible Hearing Aids Trending the Global Tinnitus Management Market
There has been a significant shift in the preferences of patients towards adopting innovative and advanced technologies such as mobile apps and other hearing aids accessories since the recent past. For example, Starkey Hearing Technologies launched the True Link mobile app, which enhances the hearing experience and can connect easily to iPhone, iPad, and iPad Touch through the app. This app also allows the users to make phone calls, listen to music, watch videos and offers a more streamlined hearing experience with great sound quality. In addition, there is a growing preference amongst the patients for the adoption of hearing aids with increasing inclination towards invisible hearing aids. Companies are mainly focussing on manufacturing in-the-canal (ITC), completely-in-the-canal (CIC) and sound masking devices. For example, in 2015, Sonova acquired the U.S. Food and Drug Administration’s approval for its Sonova Naida Cl Q 90 and Q 30 processors. This is likely to further boost revenue growth of the global tinnitus management market.
Global Tinnitus Management Market: Segmentation and Forecast
The global tinnitus management market is segmented on the basis of product type, indication, distribution channel and region.
The hearing aids segment in the product type category was estimated to be valued at nearly US$ 1,350 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 1,650 Mn in 2025 and register a CAGR of 2.5% during the assessment period.
Subjective tinnitus segment in the indication category dominates the global market and this segment is estimated to reach a valuation of nearly US$ 2,600 Mn by 2025.
Audiology centres segment in the distribution channel category was estimated to be valued at nearly US$ 780 Mn in 2017 and is expected to reach a valuation of nearly US$ 980 Mn in 2025, registering a CAGR of 2.9% during 2017-2025.
By region, the Europe tinnitus management market was estimated to be valued at nearly US$ 500 Mn in 2017 and is likely to reach a valuation of nearly US$ 650 Mn in 2025, accounting for a CAGR of 3.3% during the period of assessment.
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Global Tinnitus Management Market: Competitive Landscape
This report features some of the top companies operating in the global tinnitus management market such as Sivantos, Inc., Starkey Hearing Technologies, Inc., GN Hearing A/S, Widex A/S, Oticon Inc., Neuromod Devices Ltd., Neuromonics, Inc. and Puretone Ltd.
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