Global Hearing Screening and Diagnostic Devices Market – Overview
Hearing Screening and Diagnostic Devices are essential to avoid risks associated with the hearing impairment among people and more so for children. Hearing loss or hearing impairment could be the partial or total inability, occurring in one or both the ears and sometimes in combination. The WHO (World Health Organisation) states that the prevalence of hearing impairment is increasing rapidly among children as well as in adults. Early Screening and Diagnostic can prevent up to 60 percent of cases of hearing loss.
Hearing disability is considered as the second most paramount disability after the locomotory. Hence, the government increasingly take initiatives to raise awareness about UNHS (Universal New-born Hearing Screening) and support the cause with funding, making the screening and intervention mandatory for the children, especially for newborns.
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Such governmental concern and initiatives, drive the market for Hearing Screening and Diagnostic Devices, allowing it to grow pervasively. Furthermore, increasing cases of risks associated with the prevailing incidents like trauma/accidents, surgeries and medication reaction that could result in temporary or permanent hearing loss, prompting the need for reliable and affordable screening and testing alternatives in general. These factors cumulatively drive the market growth, escalating the market on the global platform.
Acknowledging the kind of growth the market perceives, demonstrating the growth prospects; Market Research Future (MRFR), in its recently published market forecast asserts that the global Hearing Screening and Diagnostic Devices market growing exponentially will register a striking CAGR throughout the forecast period (2017 – 2027).
Technical development transpired in the field plays a vital role in the expansion of the market. For instance; the development of software (audiometer) that not only can keep a record of real-time data of the screening and diagnostic but can also share the data with other institutions such as Early Intervention Centers and medical centers to help them in regular follow-ups, etc.
Another such invention is innovative technology developed by an Australian medical device company Cochlear Limited; the technology along with screening and detecting hearing impairment at an early stage can also provide implantable hearing solutions that serve a lifetime of hearing outcomes. Such latest, Nobel inventions are propelling the market, allowing it to grow exponentially, offering advanced services.
On the other hand, unavailability of screening and diagnostics technologies, and unmet clinical needs coupled with the unavailability of external funding account for some of the factors impeding the market growth.
Phillips Plastics Corporation, Siemens Healthcare GmbH, Otodynamics Ltd., Natus Medical Incorporated, Neurosoft, Nashua Hearing Group, IntriCon Corporation, Maico Diagnostics GmbH, Interacoustics A/S, Accent Hearing Pty Ltd and GN Otometrics are some of the prominent players at the forefront of competition in the Global Hearing Screening and Diagnostic Devices Market and are profiled in MRFR Analysis.
Hearing Screening and Diagnostic Devices Global Market – Competitive Analysis
Well established players operating in the competitive Hearing Screening and Diagnostic Devices market ensure to offer a comprehensive portfolio of products, as well as the quality assurance testing of third-party instruments. They also ensure to introduce (develop) a range of FDA-licensed products, which they can sell directly to the testing laboratories, hospitals, and independent patient. These players strive to develop additional applications for their existing techniques or methodologies and screening applications.
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March 03, 2018 – Cochlear Limited (Australia), a leading global company involved in implantable hearing solutions, announced joining forces with the WHO (World Health Organization) along with the international hearing care community members to raise awareness of hearing loss as a global public health priority on World Hearing Day. The cost-effective actions recognized and reinforced by WHO & Cochlear jointly include Identifying hearing loss early through screening of new-borns, school children, and adults over 50 years and spreading the awareness about the importance of early diagnosis for people and hearing tests.
Hearing Screening and Diagnostic Devices Market – Segments
The Hearing Screening and Diagnostic Devices Market can be segmented into four key dynamics for the convenience of the report and enhanced understanding;
By Type of Tests : Tympanometry Tests, Pure-Tone Test, Most Comfortable Listening Level Test (MCL), Speech Reception Threshold Test (SRT), Uncomfortable Loudness Level Test (UCL), Speech Discrimination Test, and Bone Conduction Test among others.
By Type of Devices: Audiometric Examination Devices and Screening Devices, among others.
By Indication: Sensorineural Hearing Loss, Conductive Hearing Loss, and Combination Hearing Loss among others.
By Regions: North America, Europe, APAC and Rest of the World.
Hearing Screening and Diagnostic Devices Market – Regional Analysis
Globally North America leads the Hearing Screening and Diagnostic Devices market with the significant market share. The Market is expected to grow phenomenally during 2017 to 2027. Attributing to the complications arise during the birth that increases the cases of hearing loss, the market is expected to perceive a healthy growth. A well-defined per capita healthcare expenditure is another key factor, driving the market growth in the region.
Moreover, growing number of centers for the Hearing Screening and Diagnostic coupled with the technologically advanced devices contribute to the market growth in the region. The US accounts for the major contributor to the market growth owing to the presence of big players and the growing uptake of technologies.
Europe emerging as a lucrative market for Hearing Screening and Diagnostic Devices will grow at a phenomenal CAGR. The resurging economy in the region is expected to foster the regional market growth. Besides, availability of technologically advanced devices and proliferation of quality healthcare along with the increasing healthcare cost contribute to the market growth in the region.
Asia Pacific market for the Hearing Screening and Diagnostic Devices is expected to perceive the fastest growth by 2027 at a modest CAGR during 2017 to 2027. India and China backed by the huge population, and the availability of low-cost Hearing Screening and Diagnostic Devices will lead the market growth.
Moreover, the fastest growing healthcare sector coupled with the large unmet needs over the forecast period will provide impetus to the market growth. Vietnam, Thailand, and Malaysia among other South East Asian countries are projected to contribute significantly to the regional market growth. Besides the growing penetration of healthcare insurance is expected to drive the Hearing Screening and Diagnostic Devices market in the in the Asia Pacific region.
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