This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Hearing Screening and Diagnostic Devices Market over the forecast period.
Pune, India -- (SBWIRE) -- 01/23/2018 -- MarketResearchFuture.com adds "Hearing Screening and Diagnostic Devices Market -2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2027" reports to its database.
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?Pune, Jan 12 2018 – Market Research Future released their latest report titled "Global Hearing Screening and Diagnostic Devices Market Forecast to 2027? which is a direct appreciation by Market Research Future of the market potential of the beauty devices market. The report intends to provide accurate and meaningful insights, both quantitative as well as qualitative. It can be said with high confidence level, that this report will satisfy the need for comprehensive insights needed to compete and beat other players in today's winner takes all market! The global market for Hearing screening and diagnostic devices is expected to reach USD 1000 Million to 1250 million by the end of the forecasted period and is expected to grow at a CAGR of 5.0 to 6.0 %
Market Scenario of the Hearing Screening and Diagnostic Devices Market:
A hearing evaluation test of ear test provides an evaluation of the sensitivity, severity and type of the loss of a person's sense of hearing. According to audiologists, Hearing Disability is the hearing test frequency of more than 40 dB in adults and 30dB in children from age group 0-14 years. According to the World Health Organization 2015 report, almost 360 million people representing 5.3% of the world's population suffers from some form of hearing loss. The major factor that drives the growth of hearing diagnostic devices market are the increasing issues of hearing problems, noise pollution, growing trauma cases, increasing screening especially newborn hearing screening, growing awareness, sever infection, and others. Governmental support for newborn hearing screening programs is also driving the market. The market constraints are high cost of devices, low number of hearing test clinics, neglect in developing regions, and others. However the most critical restraints is the unsatisfactory performance of most devices, such as uni-directionality, discomfort associated with the use.
Key Players for Hearing Screening and Diagnostic Devices Market:
Some of the Key Players in this market are: Siemens Healthcare GmbH, Phillips Plastics Corporation, OTODYNAMICS LTD, Neurosoft, Natus Medical Incorporated, NASHUA HEARING GROUP, MAICO Diagnostics GmbH, IntriCon Corporation, Interacoustics A/S, GN Otometrics, Accent Hearing Pty Ltd and others.
Industry News and Business Analysis:
Mergers and acquisitions are ripe in the industry as is exemplified by the example of Warner Tech-care Products, LLC and Hal-Hen Company, Inc, effective from January 5, 2018. The business strategy is to combine complementary strengths and weaknesses of individual companies and achieve synergies in technology and distribution. Pursuing a multi-branding strategy also helps in capturing all customer segments as well as marketing channels. Thus all in one solution provider under a single roof is being seen as an attractive customer attracting strategy.
Technology development is crucial to be the market leader as the market strongly benefits dynamic over the static. For example, efforts are being directed to develop tests used to detect own voice issue, which torments hearing loss patients. Mimicking the natural ear structure is another development strategy adopted by players. Technological advancements include progress toward development of cognitively-controlled hearing aids and multi-speaker enabled technology. A cognitive hearing aid monitors the brain activity to determine the conserving environment of the subject. It would be the epitome of hearing screening and diagnostic devices. Smart phones connectivity and analytics are also changing the landscape, which would enable continuous home screening. Continuous home screening is expected to be more accurate than laboratory or clinic diagnosis as it is dynamic and uses long term data.
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Segments of Hearing Screening and Diagnostic Devices Market:
Global hearing screening and diagnostic devices market has been segmented on the basis of type of test which comprise of tympanometry tests, pure-tone test, speech reception threshold test (SRT), most comfortable listening level test (MCL), uncomfortable loudness level test (UCL), speech discrimination test, bone conduction test and others. On the basis of type of device; market is segmented into screening devices, audiometric examination devices and others. On the basis of indication; market is segmented into conductive hearing loss, sensorineural hearing loss, combination hearing loss and others. Tympanometry hearing test have the largest market share followed by bone conduction test and pure tone test.
Regional Analysis of Hearing Screening and Diagnostic Devices Market:
The Americas dominate the screening and diagnostic devices market, which is led by the U.S. The lead is attributed to the presence of large and wealthy patient population, faster adoption of technology, high healthcare expenditure, and the presence of the larger and leading companies among others. Europe holds the second position in the diabetes monitors market. Europe is dominated by Germany owing to its large medical device manufacturing base.
Asia Pacific region is projected to be the fastest growing region during the forecast period. The presence of huge patient pool is the critical factor driving the growth of this market in Asia Pacific region. India represents the greatest opportunity followed by China and Vietnam.
The Middle East and Africa holds the least share in the market owing to the presence of poor and slow developing countries, especially, in African region. The African market will be price sensitive and low cost low features products will triumph growth over high tech devices.
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