Audiological Devices Market is Expected to Reach USD 8.6 Billion Globally in 2018: Transparency Market Research

 Audiological Devices Market is Expected to Reach USD 8.6 Billion Globally in
                      2018: Transparency Market Research

  PR Newswire

  ALBANY, New York, July 1, 2013

ALBANY, New York, July 1, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research ( ) " Audiological  Devices  Market
 (Hearing Aids, Cochlear Implants, Bone Anchored Hearing Aids, Audiometers,
Tympanometers and Otoscopes)  - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast, 2012  -  2018 , " the global audiological
devices market was valued at USD 6.2 billion in 2011 and is expected to grow
at a CAGR of 4.9% from 2012 to 2018, to reach an estimated value of USD 8.6
billion in 2018.

Browse the full report at

The global audiological devices market is expected to have a steady growth of
4.9% from 2012 to 2018 owing to the aging population and related rise in
prevalence of hearing loss, increasing technological advancements in digital
hearing aids and newer forms of hearing devices. The rise in incidence of
hearing impairment in both children and adults, and occupational, nerve and
congenital deafness, generates a large patient pool to be dispensed with
hearing aids. The rise in demand for hearing aids with an aesthetic appeal
such as invisible-in-the-canal hearing aids, is also expected to fuel the
growth of this market.

The market for hearing aids accounted for the largest share of the total
audiological devices market, whereas the cochlear implants market is expected
to witness the highest growth during the period of forecast. Exhaustive
product portfolios offered by manufacturers, favorable reimbursement policies
and efficient sales and distribution networks laid by manufacturers drive the
growth of the market for hearing aids. BTE and ITE are the most popular types
of hearing aids due to their ease of use, efficiency in treating a wide extent
of hearing loss, comfort level, connectivity and cosmetic preferences of

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Europe was the largest geographical market for audiological devices in 2011
because of the rise in the prevalence of deafness and increase in awareness
about technological advances. Despite the financial upheaval going on in
Western Europe, the European audiology devices market will continue to grow at
a steady rate as several countries will continue to offer considerable level
of reimbursement to patients. In terms of growth rate, the Asia-Pacific region
will register the highest CAGR of about 7% during the forecast period.
Promotion of the benefits associated with the use of hearing aids and
intensive customer and consumer education conducted by major market players
will also drive the increase in adoption of hearing aids in this region.

The global market for audiological devices is consolidated in nature and has
few key players that account for the highest market share. Players such as
Sonova Holding AG, William Demant Holding A/S and GN ReSound Group together
contribute to more than half of the total market revenue. The other prominent
players in this market are Siemens Healthcare, Starkey Hearing Technologies
and Widex A/S.

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The global audiological devices market is segmented as follows:

Audiological Devices Market, by Products

  *Hearing aids

       *By type

            *Behind-the-Ear (BTE) aids
            *Receiver-in-the-Ear (RITE) aids
            *In-the-Ear (ITE) aids
            *Canal hearing aids (In-the-Canal(ITC), Completely-in-Canal(CIC)
              and Invisible-in-Canal (IIC))

            *By technology

                 *Analog hearing aids
                 *Digital hearing aids

            *Cochlear implants
            *Bone anchored hearing aids
            *Diagnostic devices


         Audiological Devices Market, by Geography

            *North America
            *Rest of the World (RoW)

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