Medical Audiometer Devices Market Growth & Opportunity 2028

The medical audiometer devices market is expected to reach US$ 175.73 million by 2028 from US$ 129.58 million in 2021; it is expected to grow at a CAGR of 4.4% from 2021 to 2028.   

Medical audiometers are devices used to assess the level of hearing and measure and diagnose the severity of the hearing loss. Audiometers are made up of embedded hardware and a feedback button for the test participant that is connected to a pair of headphones. A regular PC is used to control this system. Audiometry is a technique for determining a person's hearing capacity. Types of audiometry procedures include immittance audiometry, pure tone audiometry, evoked response audiometry, and speech audiometry. Various technological advancements have led to the development of hybrid audiometers and PC-based audiometers to communicate and improve quality of life.

The medical audiometer devices market has been segmented based on type, end user, and geography. By geography, the market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the medical audiometer devices market, emphasizing market trends, technological advancements, market dynamics, and competitive landscape analysis of the globally leading market players.

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Medical Audiometer Devices Market: Strategic Insights

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Market Insights

Rising Prevalence of Hearing Disorders

The prevalence of hearing disorders is increasing across the world. Hearing disorders can lead to impairment of hearing sounds of greater than 40 decibels (dB) in the better-hearing ear in adults and greater than 30 dB in the better-hearing ear in children. Hearing disorders can be a hereditary or congenital disability, or they can be caused due to infectious disease, chronic ear infection, exposure to excessive noise, and old age. Infections in childhood such as measles, mumps, and meningitis; exposure to excessive or prolonged noise; and chronic otitis media are also responsible for hearing impairment. Hearing loss has become the most common disease in patients, especially in industrialized countries. According to the World Health Organization (WHO), ~5% of the world's population has disabled hearing. The number of people living with this medical condition is expected to reach over 900 million by 2050. Similarly, according to the Hearing Industries Association, more than 4.22 million hearing aids were distributed in the US in 2019, registering a 6.5% increase over the number reported in 2018.

According to the Hearing Loss Association of America (HLAA) report, Hearing Loss Facts and Statistics 2018, ~48 million Americans have some degree of hearing loss. It also mentioned that 2–3 out of every 1,000 children in the US are born with a detectable level of hearing loss in one or both ears. According to data reported by the Centers for Disease Control and Prevention, ~16% of adults in the US report hearing trouble, and 1 out of 5 men and 1 out of 8 women reported having some kind of hearing trouble. The prevalence of hearing loss is twice as common as diabetes or cancer. ~11% of Americans report tinnitus or ringing in the ears.

Thus, the increasing prevalence of hearing disorders and hearing loss among the population is boosting the sales of medical audiometers.

Type-Based Insights

Based on type, the medical audiometer devices market is segmented into hybrid audiometers, standalone audiometers, and PC-based audiometer. The PC-based audiometer segment would account for the largest market share in 2021, and the hybrid audiometers segment is anticipated to register the highest CAGR during the forecast period.

End User–Based Insights

Based on end user, the medical audiometer devices market is segmented into hospitals and clinics, research centers, and diagnostic centers. The hospitals and clinics segment would hold the largest share of the market in 2021, and the same segment is estimated to register the highest CAGR in the market during the forecast period. 

The COVID-19 pandemic has become the most significant challenge across the world. As this pandemic has stressed healthcare systems across the globe, prioritizing the limited resources was essential to minimize hospital admissions. However, market players have adopted an innovative approach of tele-audiology solutions to deal with hearing loss patients. For instance, Satellite Tele-Audiology Solutions, part of the Inventis company, is said to be the first technology of its kind. This technology allows audiologists to interact and remotely perform complete hearing assessments with their patients in real-time. Such developments by the leading market players have resulted in the minimal impact of the COVID-19 pandemic on the medical audiometer devices market.     

Acquisitions, collaborations, partnerships, product launches, and expansions are commonly adopted strategies by companies to expand their footprint worldwide and meet the growing demand. The medical audiometer devices market players have been chiefly adopting the strategy of product innovation to cater to the changing customer demand across the world, which also helps them maintain their brand name globally.

Medical Audiometer Devices Market Regional Insights

The regional trends and factors influencing the Medical Audiometer Devices Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Medical Audiometer Devices Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Medical Audiometer Devices Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Medical Audiometer Devices Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Medical Audiometer Devices Market are:

1. Benson Medical Instruments Co.
2. Hedera Biomedics S.r.l.
3. Smart Diagnostic Devices
4. Natus Medical Incorporated
5. INVENTIS SRL

Disclaimer: The companies listed above are not ranked in any particular order.

 

Company Profiles

• Benson Medical Instruments Co.             
• Hedera Biomedics S.r.l.                         
• Smart Diagnostic Devices                      
• Natus Medical Incorporated                    
• INVENTIS SRL   
• Auditdata     
• MedRx         
• INTERACOUSTICS AS                            
• RESONANCE                                       
• Hill Rom Holding Inc.