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The Neonatal Hearing Screening Devices Market to grow on the back of on-demand healthcare, witnessing a CAGR of 3.5%

04-10-2023 04:58 PM CET | Health & Medicine

Press release from: Persistence Market Research

The Neonatal Hearing Screening Devices Market to grow on the back

The neonatal hearing screening devices market is a growing market driven by the increasing prevalence of hearing loss among newborns. The screening devices used for detecting hearing loss in newborns have improved significantly over the years. The early detection of hearing loss in newborns is crucial, as it allows for early intervention, which can significantly improve the child's hearing ability and overall development.

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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Persistence Market Research
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NY 10007 United States
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About Us:

Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

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