The global audiology devices market is expected to grow at a CAGR around 6.0% during the forecast period. Hearing loss can be enabled with some kind of hearing assistive technology whether it is hearing aids, assistive listening devices, cochlear implants and hearing enhancement technology. The use of hearing assistive technology (HAT) is important way for consumers to address their hearing loss. HAT technology that include assistive listening systems such as (FM, infrared and hearing loop systems), alerting devices such as (alarm clocks and smoke detectors among others), telecommunication products and services such as (relay services and captioned telephones). There are also program such as equipment distribution programs and state assistive technology programs among others that are beneficial for the growth of the audiology devices market.
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Heraing loop technology offers the greatest advantages to people who rely on assistive listening systems and Loops installed to the International Electrotechnical Commission (IEC 60118-4) standard that deliver the cleanest sound to people with hearing loss. Majority of the people preferred the hearing loops along with telecoil enabled hearing aids, cochlear implants and streamers due to various benefits such as easy to use, versatile, quality sound, discreet, better hygiene and transient solutions. Hearing loops also offers considerable advantages to various sectors including easy administering, cost effective, universal access, maximum impact, ADA compliance and international standard. Thus, from the above benefits the growth of the audiology devices market is propelling during the forecast period.
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Hearing aids are useful in enhancing the hearing of people who have hearing loss that leads from damage to the small sensory cells in the inner ear known as hair cells. This type of hearing loss is known as sensorineural hearing loss. A cochlear implant is a technology that enables to provide a sense of sound to a person who has severe hearing loss. Moreover, favorable government support and funding for cochlear implants results in the growth of the industry. For instance, various initiatives undertaken by government includes new born screening program for early diagnosis and treatment of hearing loss that shown a positive impact on the growth of the audiology devices market during the forecast period.
Current Market Trends Covered in the Market Report
- North America held the largest market share.
- Product launch is a key focus of major market players to remain competitive in the market.
- Improving healthcare infrastructure in the emerging economies across the globe.
- Digital hearing aids fuel the technology segment in terms of market share owing rising adaptability and connectivity with mobile devices.
Global Audiology Devices Market- Segmentation
By Technology
- Digital Hearing Aids
- Analog Hearing Aids
By Products
- Cochlear Implants
- Bone Anchored Hearing Aid Open System
- Diagnostic Devices
- Hearing Aids
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