Overview

The Global Audiology Devices Market is expected to reach a high CAGR during the forecast period 2024-2031.

Hearing loss is more prevalent among the elderly due to changes in the neurological pathways connecting the brain to the ear. Audiology devices, commonly known as hearing aids, are used to detect and treat hearing loss or abnormalities. These devices also help monitor and study hearing issues in individuals.

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Market Growth Trends

Increase in the number of device launches

The growth in the number of advanced device launches is expected to drive market expansion, thanks to their ability to deliver highly efficient hearing solutions. For example, on September 25, 2023, ELEHEAR, a provider of AI-powered hearing aids and audio solutions, launched its first over-the-counter (OTC) hearing aid devices: the ELEHEAR Alpha and ELEHEAR Alpha Pro.

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Market is segmented

By Technology:  Digital, Analog

By Product Type:  Hearing Aids, Cochlear Implants, Bone Conduction Devices, Diagnostic Devices

By Indication:  Otosclerosis, Meniere’s Disease, Acoustic Tumors, Otitis Media, Others

By Distribution Channel:  Retail Sales, Online Stores, Government Purchases, E-Commerce, Others

By Region:  North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Market Key Players

·         Oticon Medical

·         Med-EL

·         Starkey Hearing Technologies

·         Phonak

·         Advanced Bionics

·         Audina Hearing Instruments, Inc.

·         Coselgi

·         Sonova AG

·         WS Audiology A/S

·         BHM-Tech Produktionsgesellschaft mbH

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