According to a report available on Radiant Insights, Inc.; the global diagnostic audiometer market is projected to display steady growth by 2023.High prevalence of hearing disorders, growing health awareness, and technological developments in these devices can drive the market during the forecast period (2018 to 2023). In addition, growth in health care programs due to new regulatory framework is also expected to increase the sales of these devices. As, government as well as private organizations need screening audiometers for their screening programs.
Rising incidence of hearing disability can be one of the key factors that can influence the market growth in the coming years. Hearing impairment is one of the largest health problems noticed in the recent years. This health condition cause due to several factors including aging, genetic factors, bacterial infections, are among the others. Growing occurrence of hearing disparity particularly among children is also expected to boost the demand for these devices.Also, increasing Alzheimer’s disease among older population can also resulted into hearing loss. This is also expected to supplement the market growth.
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However, high associated with these devices along with reimbursement issues may hamper the market growth. On other hand, development of advanced products can support the market growth.
Technological progressions can bode well for the market growth. Several modern-devices can be used separately or connected to a computer.Digital and portable audiometers are quite popular among the users. However, increasing use of advanced devices such as hybrid and PC-based audiometers are also expected to boost the market growth during the forecast period.
Worldwide diagnostic audiometer market can be segmented on the basis oftype, application, and region.Geographically, the market can be divided into North America, Europe, AsiaPacific, Middle East and Africa, and South America.North America is expected to show high growth during the forecast period. This growth can be ascribed to growth of patients with hearing loss and acceptance of technologically advanced audiometers for testing and screening of hearing loss. Additionally, growth of geriatric population in this region is also expected to be the crucial factor for the regional growth.
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Asia Pacific is likely to display notable growth during the estimated period. This growth can be attributed to growing healthcare expenditures, improving healthcare infrastructure,and growth in age-related hearing problems. Increasing awareness about availability of technologically advanced audiology devices in this region can boost the regional growth. Increasing population in developing countries such as China and India are also expected to create opportunities in the coming years. Europe is also considered as one of the crucial markets due to high prevalence of deafness in the region. In addition, presence of advanced healthcare infrastructure and high patient disposable income can have positive impact on the market.
Key players operating in the diagnostic audiometer market include Natus Medical incorporated, William Demant Holding, AuditData A/S., Benson Medical instruments, and Micro-DSP Technology Co Ltd.The market looks competitive due to presence of several regional as well as international players. Many players in the market are involved in the development of PC-based audiometers. For instance, Clearwater Clinical Limited, producer of iPad-based audiometers has recently released version 5.0 of its product, SHOEBOX Audiometry. The new version features patent-pending Response and Environment Adaptive Control Technology (REACT), which is intended to monitor patient response behavior and environmental conditions such as ambient noise levels.
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