Audiology Devices Market Size, Share & Trends Report

Audiology Devices Market Size, Share & Trends Analysis Report By Product (Hearing Aids, Cochlear Implants), By Technology (Digital, Analog), By Sales Channel (Retail, E-commerce), And Segment Forecasts, 2019 - 2026

  • Published Date: Jul, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-217-4
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 100

Report Overview

The global audiology devices market size was valued at USD 9.84 billion in 2018 and is projected to expand at a CAGR of 5.8% over the forecast period. The market growth can be attributed to factors, such as the growing geriatric population and cases of hearing disorders along with supportive government initiatives for easy access to hearing aid. The total number of geriatric population in the world is estimated to be 1.4 billion by 2030.

U.S. audiology devices market size

In the U.S., around 35 million Americans suffer from hearing loss and around 70 to 85% of cases are untreated. However, the increasing participation of market players to integrate traditional devices with modern telemedicine is expected to increase the treatment rate of hearing disorders. In January 2019, lively launched an online audiology platform that provides hearing aids, tests, and 24/7 online support for all clients.

All users of the platform can communicate with an audiologist via video conference and receive hearing aid without the need to visit an office or retail store. Basic hearing aid devices perform inadequately in some public spaces. Hearing Assistive Technology (HAT) eliminates the effect of noise, distance, and reverberation by using frequency modulation, infrared, and induction loop systems.

The HAT devices can be used without hearing aids or cochlear implants. The increasing demand for cost-effective devices, advancement in technologies such as wireless devices, and the rising acceptance of such technologically enhanced devices are some other factors driving the growth of the audiology devices market.

Product Insights

The product segment is categorized into hearing aids, BAHA/BAHS, cochlear implants, and diagnostic devices. Hearing aids dominated the product segment while cochlear implants are anticipated to witness the fastest growth in the forecast period. Diagnostic devices include otoscopes, audiometers, and tympano meters.

Innovation in implantation techniques reduces the risk of infection, complications, operating time, and improves the patient's ability to hear. Demand for invisible-in-canal hearing aids and complete-in-canal hearing aids are expected to boost market growth.

Sales Channel Insights

Based on the sales channel, the market is categorized into retail stores, government programs, and e-commerce. Retail stores dominated the market due to the presence of big retail store chains in countries such as the U.S.

In 2016, around 3.28 to 3.65 million hearing aids were sold in the U.S. market, consisting of 78% sold in the private market and 22% sold via the Veterans Administration (VA) hearing aid program. Many market players are adopting e-commerce to sell hearing aids products along with online service support and specialist consultation.

Technology Insights

Based on technology, the market is segmented into digital and analog hearing aids. Digital hearing aids dominated the technology segment owing to fast adaptability. Analog hearing aids use an amplifier, and microphone to intensify the sound. Some analog hearing aids are programmable and include a microchip allowing program settings for the different listening environments. Such analog devices are preferred over digital technology due to the delivery of unadulterated sound at an affordable cost.

Global audiology devices market share

Many manufacturers offer digital hearing aids with Bluetooth connectivity integrated with in-the-ear (ITE) and behind-the-ear (BTE) models. The Open hearing aid range from Oticon can be connected with iPhone, iPad, and iPod touch devices and it allows users to stream audio directly into their hearing aids.

Regional Insights

North America dominated the overall market in terms of revenue share in the year 2018. The U.S. market growth can be attributed to the advancement in the audiology systems, an increase in the number of audiologists, and the introduction of innovative digital platforms by current providers. The launch of patient-centric audiology systems that facilitate easy product handling results in patient compliance further leading to market growth.

The Asia Pacific region is anticipated to expand at the highest CAGR over the forecast period. The market growth can be attributed to the increasing geriatric population and age-related hearing problems, constantly improving healthcare infrastructure, rising health care expenditures, and increasing product awareness.

Audiology devises Market Share Insights

Some of the major companies in the global market are William Demant Holdings A/S; GN ReSound Group; Starkey Hearing Technologies; Widex A/S; Sonova Holdings AG; Phonak, Audioscan; MedRx; and NHC/Amplifon. Mergers & acquisitions, new product development, joint ventures, partnerships, are some of the strategies being undertaken by these market players. For instance, in March 2019, Sivantos Pte. Ltd. and Widex A/S completed the business merger to form WS Audiology forming a diverse portfolio of hearing aid products with brands such as Signia, Widex, and Rexton.

Audiology Devises Market Report Scope

Report Attribute

Details

The market size value in 2020

USD 11.0 billion

The revenue forecast in 2026

USD 15.5 billion

Growth Rate

CAGR of 5.8% from 2019 to 2026

The base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2026

Quantitative units

Revenue in USD million and CAGR from 2019 to 2026

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, technology, sales, channel, region

Regional scope

North America; Europe; APAC; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; Brazil; Mexico; South Africa

Key companies profiled

William Demant Holdings A/S; GN ReSound Group; Starkey Hearing Technologies; Widex A/S; Sonova Holdings AG; Phonak, Audioscan; MedRx; NHC/Amplifon

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the global audiology devices market report based on product, technology, sales channel, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2026)

    • Hearing Aids

    • Cochlear Implants

    • BAHA/BAHS

    • Diagnostic Devices

  • Technology Outlook (Revenue, USD Million, 2015 - 2026)

    • Digital

    • Analog

  • Sales Channel Outlook (Revenue, USD Million, 2015 - 2026)

    • Retail Sales

    • E-commerce

  • Regional Outlook (Revenue, USD Million, 2015 - 2026)

    • North America

      • The U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

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