Hearing Loss Technology Market: Overview
Hearing loss devices are hearing aid or an implant designed to help people with hearing loss. Hearing loss devices are designed to enhance communication through listening. Hearing loss technology devices such as audio loops, FM systems, and infrared systems act as hearing assistive technology which work with or without hearing aids and help the patients to overcome the obstacle of hearing. However, new developments in medical devices and other digital healthcare services is likely to to expand the growth of hearing loss technology devices.
High prevalence of significant hearing loss among the population, growing research and development initiatives, growing demand for hearing loss technology devices such as Bluetooth-compatible devices are important driving factors for the hearing loss technology market. According to reports published by the National Institute on Deafness and Other Communication Disorders, 15% (26 million) Americans between the ages of 20 and 69 have a reduced capacity to hear high frequency sounds because of exposure to loud sounds. A study published in the Journal of American Medicine in 2010, reported 19.5% of American adolescents aged 12 to 19 suffered from hearing loss due to increase in number of cases attributed to ear bud use. Growth in sound pollution levels, and rise in blast induced injuries due to war and violations will fuel the overall hearing loss technology market. The cost of hearing loss technology devices is expected to hamper the growth of this market.
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The hearing loss technology market has been segmented by reagent type, technology type, application type, end-users, and geography. In terms of technology type, the market is classified into digital programmable hearing aid, conventional analog hearing aid, analog programmable hearing aid, and others. In terms of application, the market is classified into auditory processing disorders, conductive hearing loss, sensorineural hearing loss, and mixed hearing loss. Hearing loss disability is a fast growing application segment among the other types of diseases such as stroke, cancer, etc. because of increasing options for treatment and rehabilitation globally. According to the World Health Organization fact sheet updated in February 2017, 360 million people worldwide are disabled with hearing loss out of which 32 million are children. Hearing loss may result from genetic causes, complications at birth, certain infectious diseases, chronic ear infections, exposure to excessive noise, and aging. About 60% of childhood hearing loss is due to preventable causes. In terms of end users, the hearing loss technology market is classified into hospitals, ENT centers, ambulatory surgical centers, and others.
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Geographically, the hearing loss technology market is classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global hearing loss technology market due to sophisticated infrastructure and number of incidences of hearing loss disorders among the population. Early-phase diagnosis and treatment of disease is driving the medical biotechnology market which in turn is expected to drive the hearing loss technology market in North America. Europe is the second largest market for hearing loss technology as there are favorable government policies regarding healthcare infrastructure, and increase in funding for audiology services. The market in Asia Pacific is expected to grow at a higher rate due to rising geriatric population, changing lifestyles, rising awareness among patients, and increasing per capita expenditure. In addition, economic growth is supporting healthcare infrastructure improvement in developing countries such as India and China. Thus, all the above mentioned factors collectively support the growth of the hearing loss technology market which is expected to propel the market share in the Asia Pacific region from 2017 to 2025.
The major players operating in the global hearing loss technology market include MED-EL, Starkey, Oticon, Sonova Holding AG, Widex, GN Hearing (ReSound), Sivantos Group (Siemens), Beltone, Sonic Innovations, and Unitron, among other significant players worldwide.
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