The Global Audiology Devices Market Is Expected To Reach $9,542.3 Million By 2020: Radiant Insights Inc.
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The global market for audiology devices is growing at an estimated CAGR of 5.0% from 2014 to 2020. Introduction of technological advancements such as wireless devices, acceptance of these devices by the geriatric population along with increase in demand of cost-effective and efficient devices are some of the major drivers of this market. In addition, presence of untapped growth opportunities in emerging countries such as India, Brazil and China and the increasing health awareness are expected to serve this market as future growth opportunities.
Hearing aids dominated the overall market in terms of revenue share at 64.1% in 2013. High comfort rendered by these products, enhanced connectivity and enhanced user friendliness are some of the factors attributing to its high usage rates and subsequently large market share.
To request a sample copy, click the link below: http://www.radiantinsights.com/research/audiology-devices-market-analysis-by-product-cochlear-implants-bone-anchored-hearing-aids-hearing-aids-audiometers-otoscopes-tympanometers-and-segment-forecasts-to-2020
Further key findings from the study suggest:
· Behind-the-Ear (BTE) aids dominated the hearing aid market by product in terms of share at over 55.5% in 2013 due to its ease of use and connectivity.
· Europe was the largest regional market in 2013, accounting for over 40.0% of global revenue due to the increased prevalence of deafness coupled with the presence of high patient disposable incomes and sophisticated healthcare infrastructure.
· Asia Pacific audiology devices market is expected to grow at the fastest CAGR of 7.4% from 2014 to 2020. Presence of unmet medical needs coupled with a regularly improving healthcare infrastructure coupled with growing population in emerging markets such as India and China are some of the factors attributing to its lucrative growth.
· Cochlear implants are expected witness significant growth over the forecast period, owing to its high effectiveness in terms of sentence understanding. A cochlear implant achieves an average of 80% sentence understanding as compared to hearing aids with 10% sentence understanding.
· Key industry participants of this market include William Demant Holdings A/S, GN ReSound Group, Sonova Holdings AG, Starkey Hearing Technologies, Siemens Healthcare and Widex A/S, Phonak, Audioscan, Cochlear Ltd., Interacoustics, ReSound, Rayovac, Advanced Bionics, MED-EL, Natus, Duracell, Grason-Stadler, Sophono, Oticon, MedRx, Power One, Austar Hearing, National Hearing Care, and NHC/Amplifon.
See More Reports of This Category by Radiant Insights: http://www.radiantinsights.com/catalog/medical-devices
For the purpose of this study, Grand View Research has segmented the audiology devices market on the basis of product, technology and region:
· Audiology Devices Product Outlook
o Cochlear implants
o Diagnostic devices§ Tympanometers
§ Otoscopes
§ Audiometers
o Bone anchored hearing aid Open system
o Hearing Aids Market by Products
§ In-the-ear aids (ITE)§ Receiver-in-the-ear aids (RITE)
§ Behind-the-ear aids (BTE)
§ Canal hearing aids: in-the-canal (ITC), invisible-in-canal (IIC), completely-in-canal (CIC)
o Hearing Aids Market by Technology
§ Digital hearing aids
§ Analog hearing aids
· Audiology Devices Regional Outlook
o North America
o Europe
o Asia Pacific
o RoW
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
For more information, Visit: http://www.radiantinsights.com/
Source URL: http://www.grandviewresearch.com/
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Blog: http://www.radiantinsightsinc.blogspot.com/
Hearing aids dominated the overall market in terms of revenue share at 64.1% in 2013. High comfort rendered by these products, enhanced connectivity and enhanced user friendliness are some of the factors attributing to its high usage rates and subsequently large market share.
To request a sample copy, click the link below: http://www.radiantinsights.com/research/audiology-devices-market-analysis-by-product-cochlear-implants-bone-anchored-hearing-aids-hearing-aids-audiometers-otoscopes-tympanometers-and-segment-forecasts-to-2020
Further key findings from the study suggest:
· Behind-the-Ear (BTE) aids dominated the hearing aid market by product in terms of share at over 55.5% in 2013 due to its ease of use and connectivity.
· Europe was the largest regional market in 2013, accounting for over 40.0% of global revenue due to the increased prevalence of deafness coupled with the presence of high patient disposable incomes and sophisticated healthcare infrastructure.
· Asia Pacific audiology devices market is expected to grow at the fastest CAGR of 7.4% from 2014 to 2020. Presence of unmet medical needs coupled with a regularly improving healthcare infrastructure coupled with growing population in emerging markets such as India and China are some of the factors attributing to its lucrative growth.
· Cochlear implants are expected witness significant growth over the forecast period, owing to its high effectiveness in terms of sentence understanding. A cochlear implant achieves an average of 80% sentence understanding as compared to hearing aids with 10% sentence understanding.
· Key industry participants of this market include William Demant Holdings A/S, GN ReSound Group, Sonova Holdings AG, Starkey Hearing Technologies, Siemens Healthcare and Widex A/S, Phonak, Audioscan, Cochlear Ltd., Interacoustics, ReSound, Rayovac, Advanced Bionics, MED-EL, Natus, Duracell, Grason-Stadler, Sophono, Oticon, MedRx, Power One, Austar Hearing, National Hearing Care, and NHC/Amplifon.
See More Reports of This Category by Radiant Insights: http://www.radiantinsights.com/catalog/medical-devices
For the purpose of this study, Grand View Research has segmented the audiology devices market on the basis of product, technology and region:
· Audiology Devices Product Outlook
o Cochlear implants
o Diagnostic devices§ Tympanometers
§ Otoscopes
§ Audiometers
o Bone anchored hearing aid Open system
o Hearing Aids Market by Products
§ In-the-ear aids (ITE)§ Receiver-in-the-ear aids (RITE)
§ Behind-the-ear aids (BTE)
§ Canal hearing aids: in-the-canal (ITC), invisible-in-canal (IIC), completely-in-canal (CIC)
o Hearing Aids Market by Technology
§ Digital hearing aids
§ Analog hearing aids
· Audiology Devices Regional Outlook
o North America
o Europe
o Asia Pacific
o RoW
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
For more information, Visit: http://www.radiantinsights.com/
Source URL: http://www.grandviewresearch.com/
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Email: sales@radiantinsights.com
Phone: (415) 349-0054
Address: 28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Blog: http://www.radiantinsightsinc.blogspot.com/