Asia Pacific Audiological Devices Market Sales to Generate US$ 3,434.6 Mn Revenue by 2026 end

Auditory impairments affect people of all age groups, ranging from moderate to severe. According to the Hearing Loss Association of America (HLAA), auditory impairments account for the 3rd largest physical disability among people. Furthermore, the World Health Organization estimated in 2019 that unaddressed hearing losses have cost countries US$ 750 Bn annually. 90% of the patients were adults, of which males constituted more than 50%.

Click here to Get Synopsis of the Report – https://www.factmr.com/report/4444/audiological-devices-market

The high incidence of hearing disabilities in the geriatric population is the main factor behind increasing deafness. As a consequence, people are increasingly seeking treatment for the same. On the premise of the aforementioned trends, the global audiological devices market shall experience a moderate growth pegged at 5% during the forecast period (2020-2026). The market is poised to surpass a value of US$ 1.3 Bn by 2026-end.

Key Takeaways of the Audiological Devices Market Study:

• Hearing Aids are expected to retain a major chunk of the audiological devices market share, accounting for 60% of the market. However, cochlear implants are gaining traction, owing to their suitability for severely hearing impaired patients.

For detailed insights on enhancing your product footprint, request for a sample here - https://www.factmr.com/connectus/sample?flag=S&rep_id=4444

• Meniere’s disease is the most prevalent hearing impairment among patients. Accounting for one-third of the total market share, the Meniere’s disease type is expected to leverage the audiological devices market share in the forecast period. Projected CAGR for the same is 5.8%.
• While clinics shall account for a major chunk of the audiological devices market, ambulatory services are gaining momentum. Reduced waiting time for treatment is a key driver for the growth of the ambulatory services segment.
• By region, Europe remains the most lucrative market for audiological devices, due to increasing geriatric population. By 2026, Europe shall account for more than one-third of the market share.
• However, Asia-Pacific shall register impressive growth, due to technological developments and entry of key audiological market players. Projections indicate a CAGR of 6.5% from 2020-2026.

For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4444

“The global audiological devices shows a positive growth trend in the future. Increase in the elderly population, coupled with burgeoning research in addressing hearing impairments, shall drive key market players to innovate,” concludes a Fact.MR analyst.

New Product Launches to Shape Audiological Devices Competition Landscape

Important audiological devices market players such as Sonova International and William Demant Holdings A/S, focus on development of technologically advanced audiological devices and product launches to increase their footprint. For instance, Sonova International recently unveiled its “Virto M Black” custom made hearing aid.

For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/4444/S

Part of Sonova’s Marvel customized in-the-ear (ITE) technology, the device includes Bluetooth streaming and a personalized hearing experience through the myPhonak App. Likewise, William Demant Holdings A/S offers hearing impairment solutions through its Oticon, Bernafon, Sonic, Audika and MAICO brands. Core businesses include hearing devices, hearing implants, diagnostic instruments and intelligent audio solutions.

Contact:
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
E: sales@factmr.com
Website: https://www.factmr.com
Research Insight: https://www.factmr.com/report/4444/audiological-devices-market
Content Source: https://www.factmr.com/media-release/1366/audiological-devices-demand

About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

This release was published on openPR.