Worldwide Audiological Devices Market to Reach $8.5 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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An aging world population is expected to translate into favorable growth for hearing instruments and audiological services. Driven by the demand for superior hearing instruments that are less visible and incorporate advanced technologies, the market for audiological devices is projected to reach $8.5 billion by 2015.

Audiological Devices: A Global Strategic Business Report

Hearing aids are specialized products, with sales influenced by factors such as rising life expectancy and growing consumer base. A major factor impacting growth is the trend towards miniaturization that has led to the development of hybrid analog/digital devices, which are more advanced than their contemporaries. Demand for audiological devices is likely to increase with addition of more features to current devices. However, lack of reimbursement for all types of hearing aids, with the exception of basic models, remains a stifling issue.

United States and Europe dominate the global market for Audiological devices, with combined share exceeding 75%, as stated in a recent report published by Global Industry Analysts, Inc. Overall, digital products are expected to gain market share while analog products find takers in developing markets. Digital hearing aids continue to gain market share at the expense of conventional analog hearing aids. This is particularly true as digital aids become more affordable and closer in price to analog aids. In the United States, the market for hearing aids is expected to reach US$1.3 billion by 2010. Behind-The-Ear (BTE) constitutes the fastest growing segment. Growth in the market is mainly attributed to popularity of open-ear BTE, receiver-in-the-ear technology, attractiveness of mini-BTE's and greater usage of directional systems.

Over the years, the market for Cochlear implants has transitioned from a research-oriented realm to one of commercial viability. The segment accounts for the fastest growth in the overall audiological devices market. Cochlear implants market in Europe projected to reach US$771 million by 2015. Cochlear implant market in the region is highly fragmented, with diverse trends and features across countries and regions.

Leading players profiled in the report include Advanced Bionics, Cochlear Limited, GN Resound Group, Med-EL, Phonak AG, Siemens Audiologische Technik GmbH, Starkey Laboratories, Sonic Innovations Inc, Widex A/S, and William Demant Holding

The report titled "Audiological Devices: A Global Strategic Business Report" published by Global Industry Analysts, Inc. provides a comprehensive insight into prevailing trends, challenges, reimbursement issues, and industry activities affecting the global and regional markets. The report enumerates recent developments, mergers, acquisitions and other strategic industry activities. Product segments analyzed in the study include Hearing Aids (Behind-the-Ear, In- the-Ear, In-the-Canal and Completely-in-the Canal), Measurement/ Testing Devices (Otoscopes, Audiometers, Impedance Analyzers, Hearing Aid Analyzers and Others) and Cochlear Implants. Analysis is presented for the period 2000-2015 for established and emerging markets including United States, Japan, France, Germany, United Kingdom, Italy, Spain, Asia-Pacific, and Latin America.

For more details of this research report, please visit

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
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