New York, Feb. 10, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hearing Diagnostic Devices And Equipment Global Market Report 2023" - https://www.reportlinker.com/p06277208/?utm_source=GNW
The global hearing diagnostic devices and equipment market will grow from $1.97 billion in 2022 to $2.2 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The hearing diagnostic devices and equipment market is expected to grow from $3.23 billion in 2027 at a CAGR of 10.1%.
The hearing diagnostic devices and equipment market consists of sales of otoacoustic emission (OAE), audiometer, otoscope, tympanometer, and other hearing diagnostic devices that are used for testing and evaluating the hearingloss.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hearing diagnostic devices and equipment are used for testing and evaluating hearing loss. These devices usually consist of an embedded hardware unit connected to a pair of headphones and a test subject feedback button, sometimes controlled by a standard personal computer.
North America was the largest region in the hearing diagnostic devices and equipment market in 2022.Asia Pacific was the second largest market in hearing diagnostic devices and equipment market.
The regions covered in the hearing diagnostic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of hearing diagnostic devices and equipment are otoacoustic emission (OAE), audiometer, otoscope, tympanometer, and others.Otoacoustic emissions (OAEs) are sounds of cochlear origin that are recorded by a microphone fitted into the ear canal.
These are used for indications such as conductive hearing loss, sensorineural hearing loss, and combination hearing loss. The end-users involved are hospitals, clinics, personal use, and ambulatory care settings.
Growth in the hearing diagnostic and equipment market is attributed to the increasing number of hearing loss cases.This increased prevalence of hearing loss is due to noise pollution, hearing diseases, ototoxic medications, hereditary disorders, birth complications, and a rising geriatric population.
According to World Health Organization (WHO), the hearing diagnostic device market is expected to make enormous advancements and investments in hearing diagnostic devices and equipment even as the number of affected individuals is expected to increase to 900 million by 2050 in the world.According to the National Institute on Deafness and Other communication, disorders states that approximately one in three people in the United States between the ages of 65 and 74 have hearing loss, and half of those older than 75 have difficulty hearing.
Hence, the rising prevalence of hearing disorders and losses drives the hearing diagnostic devices and equipment market.
The unaffordability of healthcare equipment in middle-income countries acts as a major factor hindering the development of the hearing diagnostic device and equipment market.The hearing diagnostic device and equipment market includes advanced technologies and devices for diagnosis, testing, and evaluating hearing loss.
The financial inability of remote regions within these middle-income countries, lack of proper infrastructure and healthcare services may hinder the market growth. According to World Bank data, out of the total world population of 7 billion, 5 billion belong to middle-income countries.
The hearing healthcare industry is evolving with continuous innovations in terms of technologies used.These technologies use modules like Transient evoked otoacoustic emissions (TEOAE), Distortion product otoacoustic emissions (DPOAE), and Auditory Brainstem Response (ABR).
TEOAE is the module that is used for hearing diagnosis and are generated by reflection of traveling wave.DPOAE is used to track the progress of cochlear function in newborns.
The ABR is another test used by audiologists to check the way hearing nerves of babies respond to sounds. For example, Maico has invested and recently launched a new product named easy screen with BERAphone that is a combination of ABR, TEOAE, and DPOAE that are used for response detection, reduces the workload, and test time.
The European Commission adopted two new regulations for medical devices to enhance safety, take effective measures in the event of concerns, and improve traceability.These regulations provide the medical device manufacturers with a stronger mandate for assessment of medical devices by independent notified bodies, a unique identification number for improving traceability throughout the supply chain, availability of clinical data on devices, and provides a central database to provide patients, healthcare professionals and the public with comprehensive information on products.
These rules will help manufacturers to meet the standards, safety requirements and to make better-informed decisions.
The countries covered in the hearing diagnostic devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The hearing diagnostic devices and equipment market research report is one of a series of new reports that provides hearing diagnostic devices and equipment market statistics, including hearing diagnostic devices and equipment industry global market size, regional shares, competitors with a hearing diagnostic devices and equipment market share, detailed hearing diagnostic devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the hearing diagnostic devices and equipment industry. This hearing diagnostic devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06277208/?utm_source=GNW
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