Global Hearing Diagnostic Devices And Equipment Market Size 2024, Forecast To 2033
11 Mar, 2024
The hearing diagnostic devices and equipment market has witnessed rapid growth, increasing from $2.19 billion in 2023 to $2.43 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.2%. The growth in the historical period is attributed to the increased geriatric population, heightened noise pollution, strong economic growth in emerging markets, and an increase in the number of healthcare facilities. Expected for the forecasted period is continued rapid growth, reaching $3.61 billion in 2028 at a CAGR of 10.4%. Factors contributing to this growth include an increase in hearing loss prevalence, a rise in healthcare expenditure, and improved healthcare access. Noteworthy trends in the forecast period involve a focus on the adoption of artificial intelligence, remote hearing screening, integration of wireless technology with hearing diagnostic devices, digital otoscope, rising investments, and increasing collaborations.
Global Hearing Diagnostic Devices And Equipment Market Key Driver
Growth in the hearing diagnostic and equipment market is attributed to the increasing number of hearing loss cases. This increased prevalence of hearing loss is due to noise pollution, hearing diseases, ototoxic medications, hereditary disorders, birth complications, and a rising geriatric population. According to the 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. In 2023, the market size reflects this trend, and by 2024, the industry continues to expand as the demand for diagnostic devices rises. Furthermore, 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, with the 2028 market size projected to showcase further growth.
Get A Free Sample Of The Global Hearing Diagnostic Devices And Equipment Market ReportGlobal Hearing Diagnostic Devices And Equipment Market Segments
The hearing diagnostic devices and equipment market covered in this report is segmented –
1) By Type: Otoacoustic Emission (OAE), Audiometers, Otoscopes, Tympanometers, Other Types
2) By Indication: Conductive Hearing Loss, Sensorineural Hearing Loss, Combination Hearing Loss, Other Indications
3) By End-User: Hospitals, Clinics, Personal Care, Ambulatory Care
By Geography:The regions covered in the hearing diagnostic devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the global hearing diagnostic devices and equipment market in 2023. Asia-Pacific was the second largest market in hearing diagnostic devices and equipment market. The regions covered in the hearing diagnostic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Hearing Diagnostic Devices And Equipment Industry Players
Demant A/S, WS Audiology, Natus Medical Incorporated, Hill Rom, Grason Stadler, MeCan Medical, Amplivox, Inventis, Western Surgical, INVENTIS srl, Xiamen Retone Hearing Technology Co., Ltd, Phonak Canada Ltd, Phonak Romania, Oticon, William Demant, Earlens, House of Hearing, UHC Hearing Healthcare, Hangzhou AcoSound Technology Co., Ltd, Microson, Interacoustics, Signia Pro, Grason-Stadler, Zsa Ritm OOO, Hansaton, Shenzhen Zhongde Audio-Technical Co., Ltd, Xion Medical, MED-EL South Africa, Honsun Co. Ltd, KaWe Medical, Luxamed, MAICO Diagnostics, Oticon India, Sibelmed, Zumax Medical, Aurica, Starkey, Bernafon Canada Ltd, Starkey Kenya, Resonance Audiology, Starkey do Brasil Ltda, Dino-Lite, Demant Szczecin, Cape Hearing Aids, Heine Optotechnik, Vivosonic, Alpaca Audiology, HearingLife, Foshan Vohom Technology Co., Ltd, Phonak Nigeria, Bose, Starkey Nigeria, Hass Group, orlvision GmbH, Welch Allyn, Phonak India, Guangzhou Melison Medical Instrument Co., Ltd, Widex India Pvt Ltd, Abonemed, Phonak South Africa, Tremetrics, Rudolf Riester GmbH, Narang Medical Limited, Phonak (UAE) Digital Ears Trading LLC, Cochlear, Hearing Health USA, iClear HealthCare, SyncVision Technology Corporation
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Hearing Diagnostic Devices And Equipment Market Overview
Hearing diagnostic devices and equipment are used for testing and evaluating hearing loss. These devices usually consist of an embedded hardware unit connected to a pair of headphones and a test subject feedback button, sometimes controlled by a standard personal computer.
Hearing Diagnostic Devices And Equipment Global Market Report 2023 provides data on the global hearing diagnostic devices and equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hearing diagnostic devices and equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.