Audiology Devices Market Analysis, Industry Size, Share, Application Analysis, Regional Outlook, Growth, Trends, Competitive Scenario and Segment Forecasts, 2012 to 2020

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Audiology Devices Market Analysis, Industry Size, Share,

Application Analysis, Regional Outlook, Growth, Trends,

Competitive Scenario And Segment Forecasts, 2012 To 2020

The global market for audiology devices is expected to reach USD 9,542.3 million by 2020, growing at an

estimated CAGR of 5.0% from 2014 to 2020. Introduction of technological advancements such as

wireless devices, acceptance of these devices by the geriatric population along with increase in demand

of cost-effective and efficient devices are some of the major drivers of this market. In addition, presence

of untapped growth opportunities in emerging countries such as India, Brazil and China and the

increasing health awareness are expected to serve this market as future growth opportunities.

Hearing aids dominated the overall market in terms of revenue share at 64.1% in 2013. High comfort

rendered by these products, enhanced connectivity and enhanced user friendliness are some of the

factors attributing to its high usage rates and subsequently large market share.

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Further key findings from the study suggest:

Behind-the-Ear (BTE) aids dominated the hearing aid market by product in terms of share at over 55.5%

in 2013 due to its ease of use and connectivity.

Europe was the largest regional market in 2013, accounting for over 40.0% of global revenue due to the

increased prevalence of deafness coupled with the presence of high patient disposable incomes and

sophisticated healthcare infrastructure.

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Asia Pacific audiology devices market is expected to grow at the fastest CAGR of 7.4% from 2014 to

2020. Presence of unmet medical needs coupled with a regularly improving healthcare infrastructure

coupled with growing population in emerging markets such...