Global Tinnitus Management Market: Snapshot
It is estimated that the tinnitus is third most common problem across the globe and over 10% to 15% adult population suffer from this prolonged tinnitus, this is one of the important factor propelling the growth of the global market for tinnitus management. Rapid increase in geriatric population is also creating vast opportunity for the growth of the hearing implant market. This is another factor positively contributing to the growth of this market in coming years. According to the Chinese Federation of people with Diabetes and about 130 million people experience buzzing sound in their ear, which is another key factor influencing the growth of the market in near future.
The global market for tinnitus management could see segmentation on the basis of product type, indication and channel of distribution. Among all the product type, Hearing aid market is likely to dominate in terms of adoption.
The study presents wide-ranging analysis of the global tinnitus management market through key trends, market growth, major restraints and key opportunity prevailing for the overall growth of this market. The segmental analysis of the market are also provided to exhibits accurate and factual figures for the report readers in order to go on with its analysis.
Global Tinnitus Management Market: Trends and Opportunities
Owing to increasing prevalence of the hearing impairment, the global market for tinnitus management is likely to present lucrative opportunity for the global market for tinnitus management in forthcoming years. According to data provided by the world Health organization (WHO), the prevalence rate was 5.3% or approximately 360 million population in 2012. About one third of the people over the age of 65 are likely to be affected by the hearing impairments, this is another important factor significantly driving the growth of this market in near future.
As per United Nation Social and economic affairs, around 841 million population is elderly in 2013. Which is estimated to be four times higher than the figure of geriatric population in 1950 and this is expected that it will grow by 2 million in 2050, therefore, keeping in mind the exact figure the global market for tinnitus is likely to witness massive growth during the course of forecast period from 2017 to 2025.
Global Tinnitus Management Market: Geographical Analysis
North America and Europe is likely dominate the global market for tinnitus management market due to increasing geriatric population in this region. As per, American Academy of audiology, around 50 million of population suffer from some form of tinnitus and 12 million genuinely suffer from tinnitus, this is another factor increasing growth opportunity of the tinnitus management market in near future. Furthermore, high prevalence for tinnitus is likely to upsurge the demand of this market in coming years. The government in European region are taking initiative to standardize the treatment outcome, this is another factor propelling the growth in coming years.
On the other side, a large number of population in china and India are suffering from tinnitus, but there is less adoption rate for the treatment device is another factor hampering the growth of this market in coming years.
Global Tinnitus Management Market: Competition
The portion of the report includes key players operating in the global market for tinnitus management. Some of the players operating in the tinnitus management market includes Neuromonics, Inc., GN Hearing A/S, Sivantos, Inc., Oticon Inc. and Puretone Ltd.
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