Global Audiology Devices Market: Overview
Audiology devices are hearing aids, the global audiology devices market is expected to grow at a healthy rate in the upcoming. Audiology devices are gaining popularity lately due to availability of better products. Increasing number of old age population is expected to boost the global audiology market to expand over the forecast period.
Transparency Market Research (TMR) reports sheds some detailed findings about the share, size, growth, and trends in the global audiology market during the forecast period.
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Global Audiology Devices Market: Notable Developments
A few latest developments in the audiology device market includes –
In July 2019, The Sound Pharmaceuticals announces positive results were recorded among Meniere ’s disease patients during clinical trials. The drug therapy is expected to be commercialized by 2020.
July 2019, in Miami, MED –EL USA introduces new hands free wireless technology based audiolink and next generation SONNET Swap program audio process CI2019. This implant is mainly meant for children.
In July 2019, Starkey hearing technologies was awarded with the Operational Excellence Leadership Award and Higher Achiever Award for taking care of consumers’ needs and improving their experience.
The major companies operating in the global audiology devices market consists of GN ReSound Group, Audioscan; Sonova Holdings A, GN ReSound Group, and Demant Holdings A/S
Global Audiology Devices Market: Drivers and Restraints
Online Audiology platform to offer hearing aids and 24/7 support to all patients, the users will join a conference video and receive hearing aids. The patients do not have to visit the physical store to buy the products, owing to the expansion of the global audiology devices market over the forecast period.
Alternatively, technologically advanced product known as HAT (Hearing Assistive Technology) offers noise free, reverberation free devices with the use of infrared, loop system and frequency modulation, Therefore, the global audiology devices market is expected to grow at a steady rate.
Minimal infection or any complication associated with the implant or hearing aid is projected to boost the growth of the global audiology devices in the upcoming years. The maximum demand is expected to arise from retail stores. Further, the advent of new technologies are paving way for connecting the hearing aids with ipad, mobile phones, this will allow users to receive live hearing streaming.
There many companies that offer audiology devices with Bluetooth facilities, this can be integrated in both types of devices such as in the ear and behind the ear devices.
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Global Audiology Devices Market: Geographical Outlook
The global audiology devices market is divided into main five regions such as North America, Latin America, Asia Pacific, Europe, and Middle East. However, Asia Pacific is foreseen to hold a larger share in the global audiology device market. The reason for growth in this region can be accounted to rising disposable income, increasing number of geriatric population, improving healthcare infrastructure, and increasing awareness are expected to drive the global audiology devices market in the next few years.
Previously, the global audiology devices market was held by North America. The factors influencing the growth of the global audiology devices market are availability of technologically advanced products, presence of better manufactures to provide enhanced products, and rising number of audiologists are expected to drive the global audiology devices market towards a healthy expansion in the upcoming years.
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