Global audiology devices market is anticipated to grow at a CAGR of 6.8% during the forecast period. According to WHO, by 2050 nearly 2.5 billion people are projected to have some degree of hearing loss and at least 700 million will require hearing rehabilitation. Over 1 billion young adults are at risk of permanent, avoidable hearing loss due to unsafe listening practices. An annual additional investment of less than $1.40 per person is needed to scale up ear and hearing care services globally. Thus, the growth of the market is attributed to the growing health problems related to hearing.
Moreover, the growing launches of new and innovative solutions by market players are anticipated to drive the market. For instance, in October 2022, Sony Electronics announced the availability of its first over-the-counter (OTC) hearing aids for the US market. Sony is re-imagining the hearing device space with a focus on innovation, accessibility, and personalization. Also, in September 2022, Tencent Holdings launched an advanced new hearing aid powered by artificial intelligence (AI) technology. Using Tencent’s self-developed AI algorithm, the new hearing aid provides about 85% improved sound clarity and speech intelligibility compared with similar devices in the market. In September 2022, Widex USA Inc. introduced Widex MOMENT Sheer, it’s new hearing technology solution that builds upon the proven benefits of Widex MOMENT to further enhance wearers’ lifestyles and well-being. The new solution strives to deliver the perfection of natural sound by expanding the benefits of Widex PureSound to more users; adding advanced software and hardware technologies that support engagement and improved well-being; and elevating design standards for a user experience that instills pride and confidence in ownership.
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Market Coverage
- The market number available for – 2022-2030
- Base year- 2022
- Forecast period- 2023-2030
Segment Covered-
- By Technology
- By Products
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Cochlear, Ltd., Demant A/S, Sivantos Pte. Ltd., Starkey Laboratories, Inc., Widex A/S, and others.
Audiology Devices Market Report Segment
By Technology
- Digital Hearing Aids
- Analog Hearing Aids
By Products
- Cochlear Implants
- Bone Anchored Hearing Aid Open System
Diagnostic Devices
- Tympanometers
- Otoscopes
- Audiometers
Hearing Aids
- In The Ear Aids
- Receiver In The Ear Aids
- Behind The Ear Aids
- Canal Hearing
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Audiology Devices Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- AMBCO
- Audioscan (a Division of Etymonic Design, Inc.)
- Benson Medical Instruments, Co.
- Cochlear, Ltd.
- Demant A/S
- GN Store Nord A/S
- Grason-Stadler, Inc.
- MAICO Diagnostics
- MED-ELCorp.
- MedRX, Inc.
- Medtronic, PLC.
- Natus Medical, Inc.
- Nurotron Biotechnology Co., Ltd.
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