Bone Conduction Hearing Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2029
Bone Conduction Hearing Devices Market: Overview
The recent developments in medical sector such as invisible devices, and minimally invasive surgeries are the key factors promoting the growth of the global bone conduction hearing devices market. These devices function by absorbing the air waves present in the outer ear and changes it to electrical waves and sends it to the inner ear. The brain then absorbs the vibrations received from the inner ear and balances the entire hearing mechanism. This device is used for patients suffering from ear malformations, chronic ear infections, acoustic neuroma, partial deafness, cholesteatoma, and others.
The report on the global bone conduction hearing devices offers a 360-degree overview of the market emphasizing on factors adding boost or repelling the growth of the market. It also lists the recent developments in the market if any and analyses the significant factors attracting high revenues to the market in the forecast period, 2019 - 2029. The list of bone conduction hearing devices market is also provided in the report. Furthermore, the current impact of the novel coronavirus has been thoroughly discussed in the report.
The global market for bone conduction hearing devices is classified on the basis of patient type, product type, end users, and region. With respect to classification by patient type, the market is grouped into pediatrics or children and adults. In terms of product, the market is bifurcated into bone anchored hearing aids, and traditional bone conduction hearing devices. The end users segment is further categorized into ENT clinics, ambulatory surgery centers, and hospitals.
Bone Conduction Hearing Devices Market: Competitive Analysis
The competitive landscape of the global bone conduction market is highly competitive on account of the presence of many players. The key emphasis of the vendors is to invest in product innovation and development and launch new products. They are also investing in research and development to gain a competitive edge in the market. Some of the players operating in this market are Phonak Ltd., Medtronic plc., Starkey, Cochlear Limited, BHM-Tech Produktionsgesellschaft mbH, Oticon Medical, Sivantos Pte Ltd., Med-El Medical Electronics, and others.
Bone Conduction Hearing Devices Market: Current Trends
As per the statistics of the National Institute on Deafness and other Communication Disorders (NIDCD), 4 in 1000 children have complete or partial detectable level of hearing loss since birth in the United States. Therefore, the increasing case of hearing impairment is the key growth driver for the global bone conduction hearing devices market. Besides this, the rise in geriatric population and their vulnerability towards hearing problems will also aid in expansion of the market in the forthcoming years.
On the contrary, factors such as the high cost of bone conduction hearing devices may pose a major challenge to the growth of the market. In addition to this, the market may also be restrained by the stringent regulatory measures in relation to product approval. Nevertheless, the rise in adoption of technologically advanced medical devices and the increasing popularity of the latest devices for patients with unilateral hearing loss is anticipated to create lucrative growth opportunities for the market in the forecast duration, 2019-2029.
Bone Conduction Hearing Devices Market: Geographical Analysis
Regionwise, the global bone conduction hearing devices market is widespread into the regions of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, North America is holding the highest share on account of the presence of updated medical infrastructure and facilities. This, coupled with the availability of reimbursement facilities and medical insurance provided by the developed nations such as Canada and the United States are likely to help this region continue dominating the market in the coming years. The market in Europe will also gain significant revenue in the coming years on account of the rising inclination towards advanced hearing tools.
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