Audiology Devices Market Share

North American Market Forecast

The North American audiology devices market is projected to hold the largest revenue share by the end of 2037. The growth of the market can be attributed majorly to the higher prevalence of hearing impairment backed by the rising geriatric population. According to the National Institute of Deafness and Other Communication Disorders, it is noticed that 2 to 3 out of 1000 children are born with hearing loss in one and both ears in the USA. Moreover, the prevalence is also very up-scaled in the adults of the region. As per the data published by the same source, it is stated that 37.5 (15%) million Americans aged between 18 and above have reported troubled hearing. In addition to this, the growing count of audiologists, along with the surge in the advancement of audiology systems are also estimated to boost the market size during the forecast period in the region. Moreover, the launching of modern smart hearing aids by the existing players is another significant factor that is anticipated to push the market growth further throughout the forecast period in the region.

APAC Market Statistics

Further, the Asia Pacific audiology devices market is projected to display notable growth over the forecast period. The growth of the market can be attributed majorly to the dynamically increasing ratio of age-related hearing issues backed by the surging geriatric population. Additionally, increasing healthcare expenditure is also estimated to drive market growth during the projected time frame. For instance, East Asia and Pacific healthcare spending in 2019 expanded to approximately USD 752, an increase of around 4.38% from 2018. Moreover, frequently rising healthcare infrastructure is also projected to further accelerate the market growth over the forecast period in the region.