Press release
Latest Hearing Screening Diagnostic Devices Market Growth Rate By Key Vendors, Development Trend, Business Value, Regional Growth Landscape and Industry Future Prospects To 2023
Market Overview
Hearing screening diagnostic devices are used to check for hearing problems and to assess the risk of hearing loss. These tests serve as an advance warning of auditory damage and hearing loss and thus play a key role in caring for people at risk of hearing loss.
Hearing Screening Diagnostic Devices Market is expected to exhibit a 6.50% CAGR, on the basis of value, from 2018 to 2023 (forecast period).
The report presents a comprehensive overview of the market’s present conditions and likely future growth trajectory on the basis of an extensive analysis of the market’s historical growth trajectory and major factors affecting the market’s movement.
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Demand for advanced screening procedures to detect this at an early stage and take corrective measures is one of the drivers of the hearing screening diagnostic devices market.
Competitive Analysis
Leading players in the global hearing screening diagnostic devices market include,
Sivantos Pte. Ltd.
Otodynamics Ltd.
Intelligent Hearing Systems
Otometrics
IntriCon Corporation
MAICO Diagnostics GmbH
Accent Hearing Pty Ltd.
Starkey
Natus Medical Incorporated
Inventis SRL
and Amplivox Limited.
Market Segmentation
The hearing screening diagnostic devices market can be segmented by product, age, indication, test, and end-user.
By product, the market is segmented into otoacoustic emission (OAE)/auditory brainstem response (ABR) testing devices, audiometers, immittance screeners, and others. Audiometers are further segmented into diagnostic and screening audiometers. The OAE/ABR testing devices segment accounted for 67% market share in 2017, followed by audiometers, immittance screeners, and others. This segment is touted to exhibit 6.77% CAGR during the forecast period owing to rising awareness of hearing diagnosis procedures.
By age, it is segmented into new born hearing screening and others. The former accounted for 62% market share in 2017. It can showcase 6.82% CAGR during the forecast period to reach a valuation of USD 623.53 million by 2023.
By indication, it is segmented into conductive hearing loss, sensorineural hearing loss, combination hearing loss, and others. The conductive hearing loss segment captured 40% of the hearing screening diagnostic devices market in 2017.
By test, it is segmented into pure-tone test, bone conduction test, tests of the middle ear, speech discrimination test, speech recognition threshold test, most comfortable listening (MCL) test, and uncomfortable loudness level (UCL) test. Similarly, the pure-tone test segment is divided into visual reinforcement and conditioned play audiometries respectively. The pure-tone test is poised to reach a valuation of USD 302.52 million at a 7.71% CAGR over the forecast period.
Major end-users of the hearing screening diagnostic devices market include hospitals & clinics, diagnostic centers, and others. The hospitals & clinics will continue to be the biggest market end-user till the end of the forecast period owing to the mushrooming of hospitals and clinics emerging to handle the large number of cases. It can contribute close to USD 547.39 million by 2023.
Browse the market data and in-depth information alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/hearing-screening-diagnostic-devices-market-1570
Regional Analysis
Geographically, the regional market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.
The worldwide hearing screening diagnostic devices market covers the latest trends and opportunities across Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). Among these, the Americas accounted for 38% market share in 2017, followed by Europe (29%), APAC (23%), and MEA (9%) respectively.
The Americas is poised to reach a market size of USD 369.01 million by 2023, at a 5.89% CAGR over the forecast period. The ballooned healthcare expenditure allotted for tackling new diseases, well-developed technology, and the large patient pool of geriatrics and pediatrics can drive the market growth.
But the APAC hearing screening diagnostic devices market can register 7.06% CAGR over the forecast period due to the large patient pool and adoption of latest tests. In addition, supportive government initiatives to tackle hearing disorders by creating awareness coupled with continuous development of new products can augur market growth. India is touted to be the one of the best makers of cochlear implants with a bevy of product offerings. This can induce the market demand for thorough screening tests in the forthcoming years and be fruitful for the market.
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