NEW YORK , Aug. 30, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global audiological devices market size is estimated to grow by USD 5.44 billion from 2024-2028, according to Technavio.
The market is estimated to grow at a CAGR of 8.9% during the forecast period. Increasing prevalence of hearing loss is driving market growth, with a trend towards increasing focus of vendors on new audiological product development.
However, high costs associated with audiological devices poses a challenge. Key market players include Amplifon SpA, Audina Hearing Instruments Inc. , Bernafon AG, Cochlear Ltd.
, Demant AS , Earlens Corp., Envoy Medical Corp., GN Store Nord AS, Inventis s.
r.l., MAICO Diagnostics GmbH, MED EL Medical Electronics.
, MedRx Inc., Medtronic, Oticon, RION Co. Ltd.
, Siemens Healthineers AG, Sonova AG, Starkey Laboratories Inc., WS Audiology AS, and ZHEJIANG NUROTRON BIOTECHNOLOGY CO. LTD.
. Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report Market Driver The Audiological Devices Market refers to the industry that produces and sells hearing aids and other related devices. These devices help individuals with hearing loss to improve their ability to hear.
The market is driven by the increasing prevalence of hearing loss, particularly in the aging population, and advancements in technology leading to more effective and discreet devices. Companies in this market include Sonova, Wil.