Hearing Screening and Diagnostic Devices - Market Insights, Competitive Landscape, and Market Forecast - 2028

Hearing Screening And Diagnostic Devices Market By Product (OAE/ABR Testing Devices, Audiometers, Otoscopes, And Tympanometers), Indication Type (Conductive Hearing Loss, Sensorineural Hearing Loss, And Combination Hearing Loss), End-User (Hospitals & Clinics, And Diagnostics Centers) and geography is expected to grow at a steady CAGR forecast till 2028 owing to the increasing prevalence of hearing loss due to hearing disorders, hereditary disorders, and birth complications.

The global Hearing Screening and Diagnostic Devices Market is estimated to grow at a CAGR of 6.73% during the forecast period from 2023 to 2028. The demand for screening and diagnosis of hearing is primarily being boosted by the increasing number of cases of hearing loss owing to various factors such as hearing disorders, hereditary disorders, and birth complications. Additionally, the rise in awareness of hearing defect diagnosis and treatment with various government initiatives, leading to higher demand for early detection of hearing diseases, is also contributing to the growth of the Hearing Screening and Diagnostic Device market during the forecast period from 2023-2028.

Hearing Screening And Diagnostic Devices Market Dynamics:

According to the data published by the World Health Organization (WHO) in 2023, it was estimated that nearly 2.5 billion people will be suffering from some degree of hearing loss by 2050, globally. According to the same source, it was estimated that 1 in every 10 people will have disabling hearing loss by 2050, globally. Thus the rising prevalence of hearing loss due to various factors such as hearing loss among others, will create a need for screening and diagnosis of hearing disorders, thus resulting in the positive growth of the Hearing Screening and Diagnostic Devices Market.

As per the statistics provided by the World Health Organization 2021, it was estimated that approximately 16% of hearing loss in adults results from exposure to excessive noise in the workplace, globally. Thus, increasing noise pollution is also one of the factors contributing to the increasing prevalence of hearing loss, which in turn will contribute to the growth of the Hearing Screening and Diagnostic Devices market.

Additionally, rising advancement in the technology leading to the development of more accurate and efficient hearing screening and diagnosis devices, and increase in product launches and approvals are some of the other factors influencing the positive growth of the Hearing Screening and Diagnostic Devices market.

However, the high cost associated with the hearing and screening devices, and lack of awareness or education regarding the importance of regular hearing screening in the developing nations, are some of the key constraints that may limit the growth of the Hearing Screening and Diagnostic Devices market.

Hearing Screening And Diagnostic Devices Market Segment Analysis:

Hearing Screening and Diagnostic Devices Market by Product (OAE/ABR Testing Devices, Audiometers, Otoscopes, and Tympanometers), Indication type (Conducting Hearing Loss, Sensorineural Hearing Loss, and Combination Hearing Loss), End-User (Hospitals & Clinics, and Diagnostic Centers) and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

The Audiometer category in the product types segment is estimated to account for a considerable revenue share in the Hearing Screening and Diagnostic Devices Market in 2022. This can be attributed to the various advantages provided by Audiometers in the domain of screening and diagnosis of various hearing disorders such as precise and controlled testing environments and allow healthcare professionals to assess a person's hearing sensitivity accurately. Additionally, the audiometers provide the ability for doctors to evaluate at different frequencies, thus helping in identifying specific areas of hearing loss. Thus, the various benefits provided by Audiometers will eventually contribute to the growth of the segment.

Furthermore, as the demand for this segment grows, novel products are being launched by various market players. For example, in November 2019, Interacoustics launched the AD528 Audiometer, an air, bone, and speech audiometer in the United States.

As a result of the aforementioned factors, the Audiometer segment is expected to grow significantly during the forecast period, consequently driving the expansion of the overall Hearing Screening and Diagnostic Devices Market.

North America is expected to dominate the overall Hearing Screening And Diagnostic Devices Market:

North America is expected to account for the highest proportion of the Hearing Screening and Diagnostic Devices Market in 2022, out of all regions. This is due to the presence of developed and sophisticated healthcare infrastructure, and the high prevalence of hearing disorders in the region. Additionally, the presence of key market players, attractive reimbursement policies, robust research and development initiatives, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Hearing Screening and Diagnostic Devices Market in North America.

According to statistics provided by National Council on Aging 2023, around 15.5% of adults 18 years and above, were suffering from some kind of hearing issues, during the period 2019 to 2022 in the United States. Thus, this indicates a huge need for hearing screening and diagnosis, therefore leading to the growth of the Hearing Screening and Diagnostic Devices market in the United States, which will further propel the Hearing Screening and Diagnostic Devices market in North America.

Additionally, the presence of key market players in the region such as Natus Medical Incorporated, Intelligent Hearing Systems, and Starkey Laboratories is another contributing factor responsible for the growth of the Hearing Screening and Diagnostic Devices market in North America.

Further, exemption from some regulatory steps during the process of product approvals from regulatory authorities is also aiding to the positive growth in Hearing Screening and Diagnostic Devices market in the region. For Instance, in January 2020, the US FDA exempted several hearing test devices from 510(k) premarket notification.

Therefore, the factors mentioned above, are thereby responsible for driving the North America Hearing Screening and Diagnostic Devices Market forward during the forecast period.

Hearing Screening And Diagnostic Devices Market Key Players:

Some of the key market players operating in the Hearing Screening and Diagnostic Devices market include: Amplivox, Otodynamics Ltd., INVENTIS s.r.l., Intelligent Hearing Systems, Natus Medical Incorporated, MAICO Diagnostics, Path Medical Gmbh, Interacoustics A/S, Starkey Laboratories, Vivosonic Inc., Welch Allyn, Grason-Stadler Inc., MedRx, and Medtronic.

Recent Developmental Activities in the Hearing Screening And Diagnostic Devices Market:

• In January 2023, Natus Medical Incorporated, acquired Micromed Holding SAS. The main objective of the acquisition was to expand Natus Medical's product portfolio as Micromed products will be added to Natus Medical's portfolio.
• In April 2019, Maico Diagnostics launched easyScreen with BERAphone®. The easyScreen unites AABR, OAE, and the patented technology of BERAphone. The technology helps achieve fast test times, as it is equipped with the patented CE Chirp® stimulus and response detection algorithm.

Key Takeaways from the Hearing Screening And Diagnostic Devices Market Report Study:

• Market size analysis for current Hearing Screening and Diagnostic Devices Market size (2022), and market forecast for 5 years (2023-2028)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global Hearing Screening and Diagnostic Devices market.
• Various opportunities available for the other competitors in the Hearing Screening and Diagnostic Devices Market space.
• What are the top-performing segments in 2022? How these segments will perform in 2028?
• Which are the top-performing regions and countries in the current Hearing Screening and Diagnostic Devices Market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Hearing Screening and Diagnostic Devices Market growth in the coming future?

Target Audience who can be benefited from this Hearing Screening And Diagnostic Devices Market Report Study:

• Hearing Screening and Diagnostic Devices product providers
• Research organizations and consulting companies
• Hearing Screening and Diagnostic Devices-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Hearing Screening and Diagnostic Devices
• Various End-users who want to know more about the Hearing Screening and Diagnostic Devices Market and the latest technological developments in the Hearing Screening and Diagnostic Devices Market.

Frequently Asked Questions for the Hearing Screening And Diagnostic Devices Market:

1. What is meant by Hearing Screening and Diagnostic Devices?

• Hearing Screening and Diagnostic devices are used to assess the general hearing health of individuals. These provide a comprehensive assessment of an individual's hearing abilities and are employed to determine the type and the degree of hearing loss, as well as identify specific auditory disorders.

2. What is the market for global Hearing Screening and Diagnostic Devices?

• The global Hearing Screening and Diagnostic Devices Market is estimated to grow at a CAGR of 6.73% during the forecast period from 2023 to 2028.

3. What are the drivers for the global Hearing Screening and Diagnostic Devices market?

• The Hearing Screening and Diagnostic Devices Market is slated to witness prosperity owing to factors such as the growing prevalence of hearing loss, due to various factors such as hearing disorders, hereditary disorders, and birth complications. Additionally, the rise in awareness with various government initiatives, leading to higher demand for early detection of hearing disorders, and rising technological advancement and product launches in the domain, are some of the other factors resulting in appreciable revenue growth in the Hearing Screening and Diagnostic Devices Market during the forecast period (2023-2028).

4. Who are the key players operating in the global Hearing Screening and Diagnostic Devices market?

• Some of the key market players operating in the Hearing Screening and Diagnostic Devices Market Amplivox, Otodynamics Ltd., INVENTIS s.r.l., Intelligent Hearing Systems, Natus Medical Incorporated, MAICO Diagnostics, Path Medical Gmbh, Interacoustics A/S, Starkey Laboratories, Vivosonic Inc., Welch Allyn, Grason-Stadler Inc., MedRx, and Medtronic.

5. Which region has the highest share in the global Hearing Screening and Diagnostic Devices market?

• North America is expected to dominate the overall Hearing Screening and Diagnostic Devices Market during the forecast period, 2023 to 2028. This can be attributed to the presence of developed and sophisticated healthcare infrastructure and the high prevalence of hearing disorders in the region. Additionally, the presence of key market players, attractive reimbursement policies, robust research and development initiatives, and a highly viable market in terms of product development, and launches are some of the factors driving the growth of the Hearing Screening and Diagnostic Devices Market in North America.