Latest Hearing Diagnostic Devices And Equipment Market Growth Study 2022-2026 By The Business Research Company
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The hearing diagnostic devices and equipment market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 4%, as per The Business Research Company’s market report!
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The Hearing Diagnostic Devices And Equipment Market Size In 2022 And Forecast
The global hearing diagnostic devices and equipment market grew from $1.44 billion in 2021 to $1.53 billion in 2022 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The hearing diagnostic devices and equipment market is expected to grow to $1.8 billion in 2026 at a CAGR of 4.1%.
The hearing diagnostic devices and equipment market consists of sales of hearing diagnostic devices and equipment and related service.
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Increase In Number Of Hearing Loss Cases Is Driving The Growth Of The Hearing Diagnostic Devices And Equipment Market
According to World Health Organization (WHO), the hearing diagnostic device market is expected to make enormous advancements and investments in hearing diagnostic devices and equipment even as the number of affected individuals is expected to increase to 900 million by 2050 in the world. According to the National Institute on Deafness and Other communication, disorders states that approximately one in three people in the United States between the ages of 65 and 74 have hearing loss, and half of those older than 75 have difficulty hearing. Hence, the rising prevalence of hearing disorders and losses drives the hearing diagnostic devices and equipment market.
Competitive Landscape And The Regional Analysis Of The Hearing Diagnostic Devices And Equipment Market
Major players in the hearing diagnostic devices and equipment market are Natus Medical, Maico Diagnostics, Inventis, William Demant, Amplivox, Welch Allyn, Grason Stadler, Interacoustics, Rion, and Sivantos.
Additionally, as per TBRC’s research – North America was the largest region in the hearing diagnostic devices and equipment market in 2021 holding the largest market share.
The Hearing Diagnostic Devices And Equipment Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the hearing diagnostic devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the hearing diagnostic devices and equipment market.
Hearing Healthcare Industry – A Key Trend In The Hearing Diagnostic Devices And Equipment Market
The hearing healthcare industry is evolving with continuous innovations in terms of technologies used. These technologies use modules like Transient evoked otoacoustic emissions (TEOAE), Distortion product otoacoustic emissions (DPOAE), and Auditory Brainstem Response (ABR). TEOAE is the module that is used for hearing diagnosis and are generated by reflection of traveling wave. DPOAE is used to track the progress of cochlear function in newborns. The ABR is another test used by audiologists to check the way hearing nerves of babies respond to sounds.
Hearing Diagnostic Devices And Equipment Market Segmentation By The Business Research Company
1) By Type: Otoacoustic emission (OAE), Audiometer, Otoscope, Tympanometer, Other Types
2) By Indication: Conductive Hearing Loss, Sensorineural Hearing Loss, Combination Hearing Loss
3) By End User: Hospitals, Clinics, Personal Use, Ambulatory care settings
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