Hearing Diagnostic Devices And Equipment Global Market Report 2021: COVID 19 Impact And Recovery To 2030
The Business Research Company?s Hearing Diagnostic Devices And Equipment Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, May 19, 2021 /EINPresswire.com/ -- Growth in 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 the rising geriatric population. According to World Health Organization (WHO), the hearing diagnostic device market is expected to make enormous advancement and investment on hearing devices and equipment as the number of affected individuals is expected to increase from 466 million in 2018 to 900 million by 2050 in the world. A survey conducted by the Japan hearing instruments manufacturers association (JHIMA) 2018 shows that around 14% of people in Japan have hearing loss.
According to the National Institute on Deafness and Other Communication Disorders, 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, hearing diagnostic devices industry analysis shows that this rising prevalence of hearing disorders and losses drives the hearing diagnostic devices and equipment market.
The hearing diagnostic devices and equipment market consists of sales of hearing diagnostic devices and equipment and related service. These devices are used for testing and evaluating hearing loss. The machines usually consist of an embedded hardware unit connected to a pair of headphones and a test subject feedback button, sometimes controlled by a standard PC.
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The global hearing diagnostic devices and equipment market size is expected to grow from $0.75 billion in 2020 to $0.83 billion in 2021 at a compound annual growth rate (CAGR) of 10.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The hearing diagnostic devices and equipment market growth is expected to be at a CAGR of 2.6% and reach $0.92 billion in 2025.
Major players in the market are Natus Medical, Maico Diagnostics, Inventis, William Demant and Amplivox.
The global hearing diagnostic devices and equipment market is segmented by type into otoacoustic emission (OAE), audiometer, otoscope, tympanometer, others and by end user into hospitals, clinics, personal use, ambulatory care settings.
Hearing Diagnostic Devices And Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides hearing diagnostic devices and equipment market overview, forecast hearing diagnostic devices and equipment market size and growth for the whole market, hearing diagnostic devices and equipment market segments, and geographies, hearing diagnostic devices and equipment market trends, hearing diagnostic devices and equipment market drivers, restraints, leading competitors? revenues, profiles, and market shares.
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