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High Adoption of Wireless and Cosmetically Appealing Devices to Promote Uptake of Audiological Devic Health Articles | August 16, 2016

Audiological Devices Market- Global Industry Analysis Wholesale Jerseys China , Size, Share, Growth, Trends and Forecast 2012 - 2018. Global Audiological Devices Industry is anticipated to reach a market value of US$8.6 billion by 2018.

The global audiological devices market is highly consolidated Wholesale Jerseys , with the top six players accounting for nearly 97% of the overall market share in 2011, reports Transparency Market Research (TMR) in a new study. The key players in the audiological devices market are GN ReSound Group, William Demant Holding AS, Sonova Holding AG Cheap NFL Jerseys Online , Starkey Hearing Technologies, Widex AS, and Siemens Healthcare.

“The strong holdings of these key players overshadow the contribution by other companies and impose a high entry barrier to the new entrants,” says the author of the report. The contribution by local players and some global players such as Panasonic is very low. However Cheap NFL Jerseys Wholesale , the competitive rivalry is high in the global audiological devices market with all its constituent companies vying to protect their standing.

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Growing Prevalence of Deafness to Present Appreciable Demand for Audiological Devices

According to the American Academy of Audiology (AAA), hearing loss is the third most reported chronic disability affecting the geriatric population. With the growth in the geriatric population worldwide, growth in the cases of sensorineural hearing damage has also been registered. This has helped the demand for audiological devices as a corrective measure, thereby promoting the growth of the global audiological devices market.

There are various factors such as injuries Cheap NFL Jerseys Free Shipping , and genetic factors, infectious diseases, noise pollution, occupational factors Cheap NFL Jerseys From China , and problems during childbirth, pregnancy, and polypharmacy that lead to hearing loss. The high prevalence of deafness is a major public health issue across the globe. To address this problem, various governments and international organizations are encouraging the use of audiological devices.

Another factor positively influencing the growth of the global audiological devices market is the introduction of cosmetically appealing hearing devices that are small in size and hidden. The growth of these types of devices can be attributed to the changing lifestyles and high purchasing power of the end-users. These factors have consequently boosted the growth of the global audiological devices market.

Social Stigma to Hamper Sales of Audiological Devices

The high cost of surgical solutions such as bone anchored hearing aids (BAHA) and cochlear implant surgery challenge the patients financially. This problem further amplifies for the uninsured patients Cheap NFL Jerseys China , whose population is still low in emerging nations. The patients, thus prefer using conventional hearing aids, thereby hampering the growth rate of the audiological devices market.

The majority of the population suffering from hearing loss tends to be reluctant towards the use of hearing aids and other audiological devices due to the social stigma associated with them. This stigma is likely to negatively influence the growth of the global audiological devices market. However, increasing measures taken by governments Cheap NFL Jerseys , healthcare providers, and hearing aid manufacturers in order to increase the hearing aid awareness amongst the masses may change the mindset. These measures are likely to encourage the growth of the global audiological devices market.

Wide Product Portfolio to Help Hearing Aids Lead the Global Market

The global audiological devices market was valued at US$6.22 bn in 2011 and is anticipated to reach US$8.648 bn by 2018 at a 4.90% CAGR between 2012 and 2018.

In terms of product type, the global audiological devices market is segmented into BAHA, cochlear implants Cheap Jerseys Online , hearing aids, and diagnostic devices. The hearing aids segment is the leading segment by value and is anticipated to lead the market until the end of 2018. This can be attributed to a wide product portfolio offered by hearing aids. The global hearing aids market was valued at US$4.65 bn in 2015 and is estimated to reach US$5.12 bn by 2018. However, the greater efficiency of cochlear implants and bone anchored hearing aids will assist them in registering positive growth rate.

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