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Neonatal Hearing Screening Devices Market to Garner Brimming Revenues by 2020
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North America, followed by Europe, has the largest market for neonatal hearing screening devices due to rise in research studies and survey for newborn screening and product innovations in this region. Asia is expected to show high growth rate in the neonatal hearing screening market in next few years due to government initiatives and increasing awareness among parents about the benefit of neonatal hearing screening in the region. In addition, India has developed protocol for neonatal hearing screening it also contributes in the growth of the neonatal hearing screening devices market in the Asia.
Technological advancement, government initiatives, increasing R&D activities and benefits related to neonatal hearing screening are driving the market for neonatal hearing screening devices. In addition, increasing awareness about the use of these technologies is driving the market for neonatal hearing screening devices. However, lack of skilled professionals and socio and economic barrier are some of the factors restraining the growth for global neonatal hearing screening devices market.
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Growing demographics and economies in the developing countries such as China and India are expected to offer new opportunities in neonatal hearing screening devices market in Asia. In addition, continuous technological innovations and rise in awareness about neonatal hearing screening devices available in the market are expected to offer new opportunities for global neonatal hearing screening devices market. Increasing number of mergers and acquisitions and new product launches are some of the latest trends that have been observed in global neonatal hearing screening devices market. Some of the major companies operating in the global neonatal hearing screening device market are GE Healthcare, Grason-Stadler Inc (GSI), Intelligent Hearing Systems, Otometrics, MAICO Diagnostic GmbH, Natus Medical Incorporated, Otodynamics Ltd, Starkey Laboratories Inc, Vivosonic, Inc. and Welch Allyn.
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