The global audiology devices market size was USD 9.31 billion in 2022, and is expected to register a revenue CAGR of 7.7% over the forecast period.
- The Behind-The-Ear (BTE) segment accounted for a larger revenue share in 2022.
- The ITE segment accounted for a steady revenue share in 2022.
- The sensorineural segment accounted for a larger revenue share in 2022.
- The conductive segment accounted for a steady revenue share in 2022.
- The analog segment accounted for a larger revenue share in 2022.
- The digital segment accounted for a larger revenue share in 2022.
- The North America market accounted for a larger revenue share in the global audiology devices market in 2022.
- The Europe market accounted for a steady revenue share in the audiology devices market in 2022.
- The Asia Pacific market accounted for a moderate revenue share in the audiology devices market in 2022.
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Report Scope of the Audiology Devices Market:
|The market size value in 2022||USD 9.31 Billion|
|CAGR (2023 – 2032)||7.7%|
|The Revenue forecast in 2032||USD 18.32 Billion|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Increasing prevalence of hearing loss and unsafe listening practices is a major factor driving market revenue growth. Majority of hearing loss problems occurs due to aging, ear infection, and abnormal bone growths. According to World Health Organization (WHO), over 430 million people or 5% of world population, including 432 million adults and 34 million children, are suffering with hearing loss or disabling problems. In addition, according to World Health Organization (WHO), over 1 billion young adults are at permanent risk of hearing loss due to unsafe listening practices.
Advancement in audiology technology, such as frequency response and sound processing capabilities, has improved user experience. Market leaders of global audiology markets, such as Demant A/S, GN Store Nord A/S, Starkey Laboratories, Inc., and others, are offering Artificial Intelligence (AI) and deep neural network enabled premium category audiology products, which helps in better processing sound and performance. AI-enabled audiology devices have ability to deliver optimized sounds based on detected environment. Moreover, from October 2022, United States Food and Drug Administration (FDA), has approved options to buy hearing aids directly from stores or online retailers. Consumers can directly buy Over-The-Counter (PTC) hearing aids without requirement of doctor’s prescription, medical test or fitting adjustment by an audiologist. These factors are expected to drive demand of the audiology devices market over the forecast period.
Competitive landscape of the global audiology devices market is moderately fragmented with a few key players operating on global and regional levels. Key players are engaged in strategic alliances to expand their respective portfolio and gain a robust footing in the global market. Some of the major companies included in the global market report are Demant A/S, GN Store Nord A/S, Sonova Holding AG, AMPLIFON S.P.A, GN Hearing A/S, Starkey Laboratories, Inc., Cochlear Ltd., WS Audiology A/S, Oticon Inc., and RION Co., Ltd.
Audiology Devices Market Segmentations:
|By Type||By Hear Loss Type||By Technology||By Age Group||Regional scope|
|Children (6 to 12)
Teenager (13 to 17)
Adult (18 and above)
Middle East & Africa
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