May
15, 2019: The global diagnostic audiometer
market is expected to display higher growth rate over the next five years.
Rapid surge in market is credited to the rising number of incidence related to
deafness, particularly among geriatric population. Diagnostic audiometer is an
electronic instrument, which is designed to diagnose and treat diseases related
to hearing loss. Globally, market is predicted to generate massive revenue over
the next five years, providing numerous opportunities for industry participants
to invest in research and development of diagnostic audiometer devices.
Increasing use of
diagnostic audiometer for diagnosis of hearing impairment such as nerve
deafness and congenital hearing problem is expected to drive the growth of
diagnostic audiometer market over the forecast period. Diagnostic audiometer is
also used to determine sensorineural, conductive and mixed hearing loss.
Hearing losses are further categorized as per severity into four types such as
mild, severe, moderate and profound. Diagnostic audiometer performs an
audiometry exam test that determines patients’ hearing functions. Diagnostic
audiometer analyzes intensity and the tone of sounds, balance issues and other
issues related to the function of inner ear.
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The recent advancement in
the diagnostic audiometer products such as digital noise cancellation and
speech enhancement are also predicted to foster the market growth over the
forecast period. In addition, easy availability of diagnostic audiometer in
privately owned stores, clinics, large-scale retailers and governmental stores
are anticipated to expand the overall market reach in the near future. Growing
trade margins for the diagnostic audiometer devices is credited due to growing
consumer demand, thus further driving the market growth.
The recent technological
advancement in the healthcare sector coupled with development of novel products
& techniques such as the latest wireless technologies is anticipated to
foster market growth in the years to come. The diagnostic audiometer offers
promising solution to determine whether patients suffering from temporary or
permeant hearing loss. Rising number of cases related to hearing loss cases in
the U.S. alone is estimated to be doubled in the next three decades.
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The diagnostic audiometer
market is broadly categorized into major segments based on the product type
such as stand-alone audiometer, hybrid audiometer and PC-based audiometer.
Hybrid audiometer segment is growing rapidly in the market with substantial
revenue generation in the last few years. Growing popularity of hybrid
audiometer segment is attributed to the cost efficiency and higher product
penetration.
The diagnostic audiometer
market is divided by region as North America, Europe, Asia-Pacific, Latin
America and Africa. North America has shown major growth in recent years owing
to the rise in implementation of latest technologies in healthcare sector,
surge in number of research & development activities and existence of
well-established industrial infrastructure in the region. In European region,
Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is
estimated to hold a major share in the diagnostic audiometer market with
massive growth in forecast period. Countries such as India, China and Singapore
are leading the Asia-Pacific market with strong economic growth, growing
geriatric population, increasing awareness among general public, and
significant investment by leading industry players considering potential growth
opportunities in the region.
The key players in the
diagnostic audiometer market are The William Demant Holding Group, Otometrics
A/S, Natus Medical Inc., INVENTIS S.r.L, Benson Medical Instruments Co., Audit
Data A/S, Micro-DSP Technology Co., Ltd., Lisound Hearing Aid (Fuzhou) Co.,
Ltd., Beijing Beier Biological Engineering Co., Ltd., and Hedera
BiomedicsS.r.L.
Global diagnostic
audiometer market is anticipated to grow at a CAGR of 5.6% by 2023, according
to a new report published by Gen Consulting Company. The report segments the
market and forecasts its size, by volume and value, on the basis of
application, by products, and by geography (North America, Europe, Asia-Pacific,
MEA and South America).
The Global Market for
diagnostic audiometer to 2023 offers detailed coverage of diagnostic audiometer
industry and presents main market trends. The market research gives historical
and forecast market size, demand and production forecasts, end-use demand
details, price trends, and company shares of the leading diagnostic audiometer
producers to provide exhaustive coverage of the diagnostic audiometer.
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