Audiology Devices Global Market Report 2024

Description

“Audiology Devices Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on audiology devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for audiology devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The audiology devices market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: Demant A/S; Cochlear Ltd.; Starkey Laboratories Inc.; GN Store Nord A/S; MED-EL Medical Electronics
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Audiology devices serve as specialized instruments utilized for diagnosing, treating, and addressing issues related to hearing and balance disorders, aiming to enhance the quality of life for individuals dealing with these challenges.

These devices encompass various types, including hearing aids such as in-the-ear (ITE), receiver-in-the-ear (RITE), behind-the-ear (BTE), canal (CHA), as well as cochlear implants, bone-anchored healing aids, and diagnostic tools. Hearing aids, among the primary devices, utilize electronic amplification to enhance sound for individuals experiencing hearing loss. They incorporate diverse technologies such as digital and analog, tailored to manage various conditions such as otosclerosis, Meniere's disease, acoustic tumors, otitis media, and others. These devices find application in a range of settings including hospitals, ambulatory surgical centers (ASCs), and research institutes, benefitting end users seeking improved auditory and balance assistance.

The audiology devices market research report is one of a series of new reports from The Business Research Company that provides audiology devices market statistics, including audiology devices industry global market size, regional shares, competitors with an audiology devices market share, detailed audiology devices market segments, market trends and opportunities, and any further data you may need to thrive in the audiology devices industry. This audiology devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The audiology devices market size has grown strongly in recent years. It will grow from $10.1 billion in 2023 to $10.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. During the historical period, the increase can be credited to several factors, including economic trends, global health programs, a growing aging population, heightened awareness and education, as well as occupational exposure to noise.

The audiology devices market size is expected to see strong growth in the next few years. It will grow to $14.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The anticipated growth in the forecast period can be linked to multiple factors, notably economic expansion and increased affordability, shifts in lifestyles impacting noise exposure, the widening reach of healthcare services, regulatory adjustments and evolving standards, and the persistent impact of occupational noise on hearing health.

The audiology devices market is set to expand due to the escalating prevalence of hearing loss. This condition, characterized by a diminished ability to perceive sounds in one or both ears, stems from diverse factors such as genetics, aging, noise exposure, injuries, infections, and certain medications. Audiology devices play a crucial role in managing hearing loss by enhancing speech clarity and communication. A report from the World Health Organization in February 2023 highlighted that over 430 million individuals, including adults and children, will require rehabilitation for hearing impairments, accounting for more than 5% of the global population. Furthermore, around a quarter of individuals over 60 years old experience hearing loss, with approximately 80% residing in developing nations. Predictions suggest that over 700 million people could grapple with hearing loss by 2050, underscoring the market's growth driven by increasing hearing impairment.

The burgeoning elderly population is a significant factor driving the growth of the audiology devices market. As individuals aged 65 and above constitute a larger segment of society, audiology devices become vital tools in enhancing their quality of life, particularly concerning hearing impairments prevalent in this demographic. These devices facilitate improved communication, social participation, and independence for the elderly experiencing hearing loss. Notably, in April 2022, America's Health Rankings reported that over 56 million adults aged 65 and older constituted nearly 17% of the total US population. Forecasts suggest this number will surpass 73.1 million by 2030. Therefore, the increasing elderly population significantly contributes to the growth of the audiology devices market.

Technological advancements in over-the-counter (OTC) hearing aid devices mark a pivotal trend shaping the audiology devices market. Leading companies in this sector prioritize technological innovation to sustain their market position. For instance, GN Store Nord A/S introduced Jabra Enhance Plus in February 2022, an OTC-class, self-fitting hearing enhancement earbud. This cutting-edge earbud leverages advanced hearing technology tailored for millions grappling with mild-to-moderate hearing loss. Its compact design encompasses advanced features for hearing enhancement, complemented by a smartphone app for personalized self-fitting and Bluetooth connectivity, enabling seamless audio streaming and phone calls.

Major players in the audiology devices market are dedicated to developing innovative products such as hearing-in-noise aids, aimed at gaining a competitive edge. These aids specifically target improving speech comprehension in noisy environments. ReSound, for instance, launched Nexia Hearing Aids in September 2023. Equipped with Auracast broadcast audio technology, these aids seamlessly connect users to public sound systems in various locations such as airports, theaters, and restaurants. The technology ensures users never miss important announcements, leveraging Bluetooth LE Audio for wireless connectivity. Furthermore, the Nexia hearing aids boast complete dustproof and water-resistant features, providing confidence for wearers in any weather condition.

In April 2022, Cochlear Ltd., an Australian company focusing on hearing implants, completed the acquisition of Oticon Medical for $170 million. This strategic move aims to bolster Cochlear Ltd.'s portfolio in implantable hearing solutions, amplifying customer awareness and trust, and broadening access for patients to tailored hearing solutions. Oticon Medical, headquartered in Denmark, specializes in audiology devices, particularly offering a range of hearing aid solutions.

Major companies operating in the audiology devices market report 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 plc, Benson Medical Instruments, Horentek Hearing Diagnostic, Zhejiang Nurotron Biotechnology Co. Ltd., Ambco Electronics, Natus Medical Incorporated, Audina Hearing Instruments Inc., William Demant, RION Co. Ltd., Elkon Pvt. Ltd., Eargo Inc., Lively Hearing Corporation, ZOUNDS Hearing Inc., SeboTek Hearing Systems LLC, Arphi Electronics Private Limited, IN4 Technology Corporation, BHM-Tech Produktionsgesellschaft mbH, Nano Hearing Aids, LORECa s.r.o., Earlens Corporation, Austar Hearing Science and Technology (Xiamen) Co. Ltd., audifon GmbH & Co. KG

North America was the largest region in the audiology devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global audiology devices market report during the forecast period. The regions covered in the audiology devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the audiology devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The audiology devices market consists of sales of audiology devices, including auditory brainstem implants (ABIs), assistive listening devices (ALDs), and low-gain hearing aids. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11532

1. Executive Summary

2. Audiology Devices Market Characteristics

3. Audiology Devices Market Trends And Strategies

4. Audiology Devices Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Audiology Devices Market Size and Growth

5.1. Global Audiology Devices Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Audiology Devices Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Audiology Devices Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Audiology Devices Market Segmentation

6.1. Global Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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
6.2. Global Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Digital
Analog
6.3. Global Audiology Devices Market, Segmentation By Diseases Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Otosclerosis
Meniere's Disease
Acoustic Tumors
Otitis Media
Other Diseases
6.4. Global Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Ambulatory Surgical Centers (ASCs)
Research Institutes

7. Audiology Devices Market Regional And Country Analysis

7.1. Global Audiology Devices Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Audiology Devices Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Audiology Devices Market

8.1. Asia-Pacific Audiology Devices Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Audiology Devices Market

9.1. China Audiology Devices Market Overview
9.2. China Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Audiology Devices Market

10.1. India Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Audiology Devices Market

11.1. Japan Audiology Devices Market Overview
11.2. Japan Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Audiology Devices Market

12.1. Australia Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Audiology Devices Market

13.1. Indonesia Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Audiology Devices Market

14.1. South Korea Audiology Devices Market Overview
14.2. South Korea Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Audiology Devices Market

15.1. Western Europe Audiology Devices Market Overview
15.2. Western Europe Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Audiology Devices Market

16.1. UK Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Audiology Devices Market

17.1. Germany Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Audiology Devices Market

18.1. France Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Audiology Devices Market

19.1. Italy Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Audiology Devices Market

20.1. Spain Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Audiology Devices Market

21.1. Eastern Europe Audiology Devices Market Overview
21.2. Eastern Europe Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Audiology Devices Market

22.1. Russia Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Audiology Devices Market

23.1. North America Audiology Devices Market Overview
23.2. North America Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Audiology Devices Market

24.1. USA Audiology Devices Market Overview
24.2. USA Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Audiology Devices Market

25.1. Canada Audiology Devices Market Overview
25.2. Canada Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Audiology Devices Market

26.1. South America Audiology Devices Market Overview
26.2. South America Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Audiology Devices Market

27.1. Brazil Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Audiology Devices Market

28.1. Middle East Audiology Devices Market Overview
28.2. Middle East Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Audiology Devices Market

29.1. Africa Audiology Devices Market Overview
29.2. Africa Audiology Devices Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Audiology Devices Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Audiology Devices Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Audiology Devices Market Competitive Landscape And Company Profiles

30.1. Audiology Devices Market Competitive Landscape
30.2. Audiology Devices Market Company Profiles
- 30.2.1. Demant A/S
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Cochlear Ltd.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Starkey Laboratories Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. GN Store Nord A/S
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. MED-EL Medical Electronics
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Audiology Devices Market Competitive Benchmarking

32. Global Audiology Devices Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Audiology Devices Market

34. Audiology Devices Market Future Outlook and Potential Analysis

34.1 Audiology Devices Market In 2028 - Countries Offering Most New Opportunities
34.2 Audiology Devices Market In 2028 - Segments Offering Most New Opportunities
34.3 Audiology Devices Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer