Hearing Screening and Diagnostic Devices Market Scenario
The global market for hearing screening and diagnostic devices is expected to show promising growth by the end of the forecasted period with a CAGR of 8.5%.
Hearing screening and diagnostic devices are the instruments used in the treatment of deafness. Hearing loss can arise from hereditary as well as non-hereditary factors or due to certain complications during childbirth. The market for hearing screening and diagnostic devices is expanding worldwide due to driving factors such as increasing geriatric population, the rise in the patient pool due to increasing levels of noise pollution along with ear infections, birth complications, and genetic disorders. Furthermore, continuous technological advancements in medical devices and government funding’s in clinical research has fueled the growth of the market. However, the high cost of the implant devices may hamper the market growth. Lack of awareness about the disease, unavailability of proper healthcare infrastructure, and unaffordability in middle-income countries are the major challenges to the market. Introduction of the cochlear implants and its high adoption rate will triumph the market growth during the forecast period. Unsatisfactory performance of some devices such as unidirectionality and discomfort associated with the utility are major challenges for the market.
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Key Players for Global Hearing Screening and Diagnostic Devices Market
Owing to the presence of the huge player in the market, some players are involve in the launching of the new products. Whereas, some major player are focusing on the acquisition and collaboration for the development of the market.
The key players profiled in hearing screening and diagnostic devices are Abbott (U.S.), Siemens Healthcare GmbH (Germany), Audiology Systems (U.S.), Phillips Plastics Corporation (The Netherland), OTODYNAMICS LTD (U.S.), GE Healthcare (U.K), Intelligent Hearing Systems (U.S.), Natus Medical Incorporated (U.S.), Otometrics (U.S.), Starkey Laboratories Inc. (U.S.), Vivosonic, Inc. (U.S.), Welch Allyn (U.S.) and others.
Hearing Screening and Diagnostic Devices Industry Updates
Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-
Oct 2017, Sohum Innovation Labs, a MedTech company provides an affordable neonatal screening system for hearing impairment will soon launch a device for screening hearing impairment in newborns.
June 2014, Natus Medical, a leading provider of medical devices, software & services for newborn care, neurology, sleep, hearing and balance markets introduced the Echo-Screen III hearing screener, which is an advanced handheld hearing screening device. Introduction of this product will help the company to strengthen their product portfolio to sustain its position in the market.
Segments for Global Hearing Screening and Diagnostic Devices Market
Global hearing screening and diagnostic devices market has been segmented on the basis of product, indications, and test.
On the basis of the test, the market is segmented into a test for middle ear, pure-tone test, and speech reception threshold test (SRT), most comfortable listening level test (MCL), uncomfortable loudness level test (UCL), speech discrimination test, bone conduction test, and others. Test for the middle ear is further segmented into tympanometry tests, acoustic reflex measures, and static acoustic impedance. Pure-tone test is further segmented into visual reinforcement audiometry, and conditioned play audiometry.
On the basis of the type of product, the market is segmented into screening devices, audiometric examination devices, and others. Screening devices are further segmented into OAE/ABR testing devices, screening audiometers, immittance screeners, and others. Audiometric examination devices are further segmented into diagnostic audiometer, screening audiometer.
On the basis of indication, the market is segmented into a conductive hearing loss, sensorineural hearing loss, combination hearing loss and others.
On account of the end- user, the market is segmented into hospitals and clinics, personal use, and ambulatory care settings.
Regional Analysis for Global Hearing Screening and Diagnostic Devices Market
Regionally, the global hearing screening and diagnostic devices market is segmented into: America, Europe, Asia Pacific, and the Middle East & Africa. America commands the major share of the market owing to the presence of leading companies, huge geriatric population and well developed technology. Additionally, high per capita income and increasing demand for the better devices will fuelled the market growth. Europe holds the second position in the global hearing screening and diagnostic devices market owing to availability of the funds and strong government support. Asia-Pacific is fastest growing market region for this market due to presence of huge patient pool, and rapidly developing economies. Whereas, the Middle East and Africa accounts for the least and slowest growing market due to the limited technological development and poor economic conditions. The Middle East is the major contributor for the market in the Middle East and Africa due to the presence of well-developed economies and huge healthcare spending.
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