The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Audiology Devices Global Market Report 2023, the global audiology devices market size is expected to grow from $9.37 billion in 2022 to $10.10 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The global audiology devices market size is expected to reach $13.15 billion in 2027 at a CAGR of 6.8%.

North America held the largest audiology devices market share, and Asia-Pacific was the fastest-growing region in 2022.

Audiology Devices Market Driver
The surging prevalence of hearing loss is expected to propel the growth of the audiology devices market going forward. For instance, in February 2023, according to an article published by the World Health Organization, a Switzerland-based public health organization, a total of 430 million people, or more than 5% of the world’s population (432 million adults and 34 million children), will need rehabilitation for their incapacitating hearing loss. In addition, over 25% of people over the age of 60 have a hearing loss, and nearly 80% of those with permanent hearing loss reside in developing or underdeveloped nations. Moreover, over 700 million individuals are predicted to have hearing loss by 2050.

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Key Audiology Devices Market Segments
1) By Product: Hearing Aids, In-The-Ear Hearing Aids (ITE), Receiver-In-The-Ear Hearing Aids (RITE), Behind-The-Ear Hearing Aids (BTE), Canal Hearing Aids (CHA), Cochlear Implants, Bone Anchored Healing Aids, Diagnostic Devices
2) By Technology: Digital, Analog
3) By Diseases Type: Otosclerosis, Meniere’s Disease, Acoustic Tumors, Otitis Media, Other Diseases
4) By End User: Hospitals, Ambulatory Surgical Centers (ASCs), Research Institutes

Audiology Devices Market Prominent Players
Major players in the audiology devices market are Demant A/S, Cochlear Ltd., Starkey Laboratories Inc., GN Store Nord A/S, MED-EL Medical Electronics, MedRx Inc., Widex AS, WS Audiology A/S, Inventis s.r.l., MAICO Diagnostics GmbH, Sonova Holdings AG, Medtronic, WS Audiology A/S, Benson Medical Instruments, Horentek Hearing Diagnostic, Zhejiang Nurotron Biotechnology Co. Ltd., Ambco Electronics, Natus Medical Incorporated, and Audina Hearing Instruments Inc.

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Prominent Audiology Devices Market Trend
The surging prevalence of hearing loss is expected to propel the growth of the audiology devices market going forward. Hearing loss is a partial or total inability to hear sounds in one or both ears caused by various factors, including genetics, aging, noise exposure, injury or trauma to the ear, infections, and certain medications or illnesses. Audiology devices are used in managing and treating hearing loss by improving speech intelligibility and enhancing communication abilities; as a result, the surging prevalence of hearing loss increases the demand for the audiology devices market. For instance, in February 2023, according to an article published by the World Health Organization, a Switzerland-based public health organization, a total of 430 million people, or more than 5% of the world’s population (432 million adults and 34 million children), will need rehabilitation for their incapacitating hearing loss. In addition, over 25% of people over the age of 60 have a hearing loss, and nearly 80% of those with permanent hearing loss reside in developing or underdeveloped nations. Moreover, over 700 million individuals are predicted to have hearing loss by 2050. Therefore, the surging prevalence of hearing loss is driving the growth of the audiology devices market.

The Audiology Devices Global Market Report 2023  provides comprehensive insights on the audiology devices market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the audiology devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
Audio Equipment Global Market Report 2023 
Audio And Video Equipment Global Market Report 2023
Wireless Earphones Global Market Report 2023

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