DUBLIN, June 14, 2023 /PRNewswire/ — The “Hearing Loss Disease Treatment Market Share, Size, Trends, Industry Analysis Report, By Product , By Disease Type, By End-User, By Region, Segment Forecast, 2023 – 2032” report has been added to ResearchAndMarkets.com’s offering.
The global hearing loss disease treatment market size is expected to reach USD 19.99 billion by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
The primary drivers of the industry’s expansion are the rising incidence of hearing loss, age-related sensorineural degeneration, and public awareness of the disease. The industry stands to benefit financially from the introduction of new treatment options in the coming years.
The products industry is benefiting from rising technological advancements like AI-related innovations. The customer experience is being improved by the introduction of products with cutting-edge features like smartphone compatibility and waterproof, rechargeable devices. For instance, Custom made by Resound, a rechargeable hearing aid that supports wireless streaming from Android and iOS, was introduced by GN Hearing, in June 2022.
More than 5% of the global population, around 430 Mn people, will require rehabilitation in 2021 to manage their hearing disability, as per the statistics published by the WHO. Additionally, it is anticipated that nearly 2.5 billion people worldwide will have a listening impairment, by 2050.
Key players are putting into action strategic initiatives that are further propelling the industry, such as new launches, collaborations, agreements, and financial investments. For instance, Autigen and Boehringer Ingelheim signed a collaboration and licensing agreement in April 2022 to develop cutting-edge treatments for sensorineural conditions.
In 2021, Fennec Pharmaceuticals announced in September 2022 that the FDA had granted approval to Pedmarkto, which prevents hearing loss in children undergoing chemotherapy. Oticon Medical published a blog for the Ponto Loaner Program. Steroids are thought to be the most common treatment for hearing loss, including SSNHL and SNHL caused by an autoimmune disease.
Also, neurotrophic factors were thought to be one of the best drug-based treatments for NIHL to fix the ribbon synapse, keep primary auditory neurons from dying, and make it easier for auditory neuron fibers to grow back after severe SNHL. Because of wireless technology, two hearing aids can work together as a complete system. The information transfer rate of wireless hearing aids is measured in nanoseconds, which is faster than the human brain’s ability to detect sounds.
Companies Mentioned
- Acousia Therapeutics GmbH
- Astellas Pharma
- Audifon GmbH & Co.KG
- Audina Hearing Instrument
- Frequency Therapeutics
- Otonomy Inc
- Pipeline Therapeutics
- Sensorion
- Novartis AG
- WS Audiology A/S
Hearing Loss Disease Treatment Market Report Highlights
- Devices segment is anticipated to register the fastest growth rate during the forecast period, owing to surge in innovative products and services
- In 2022, sensorineural segment garnered largest revenue share due to its high prevalence rate of hearing loss disease.
- In 2022, North America dominated the global industry due to factors such as increased disease prevalence, high awareness among healthcare professionals about novel therapies, and improved healthcare access in the region.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Research Methodology
4. Global Hearing Loss Disease Treatment Market Insights
4.1. Hearing Loss Disease Treatment Market – End-Use Snapshot
4.2. Hearing Loss Disease Treatment Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Rising Prevalence Of Hearing Loss
4.2.1.2. Strong R&D Pipeline
4.2.2. Restraints and Challenges
4.2.2.1. Poor Reimbursement Facilities In Low- And Middle-Income Countries
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers (Moderate)
4.3.2. Threats of New Entrants: (Low)
4.3.3. Bargaining Power of Buyers (Moderate)
4.3.4. Threat of Substitute (Moderate)
4.3.5. Rivalry among existing firms (High)
4.4. PESTEL Analysis
4.5. Hearing Loss Disease Treatment Market End-Use Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis
5. Global Hearing Loss Disease Treatment Market, by Product
5.1. Key Findings
5.2. Introduction
5.2.1. Global Hearing Loss Disease Treatment Market, by Product, 2019-2032 (USD Billion)
5.3. Devices
5.3.1. Global Hearing Loss Disease Treatment Market, by Devices, by Region, 2019-2032 (USD Billion)
5.4. Drugs
5.4.1. Global Hearing Loss Disease Treatment Market, by Drugs, by Region, 2019-2032 (USD Billion)
5.5. Systemic Steroids
5.5.1. Global Hearing Loss Disease Treatment Market, by Systemic Steroids, by Region, 2019-2032 (USD Billion)
5.6. Antiviral medication
5.6.1. Global Hearing Loss Disease Treatment Market, by Antiviral medication, by Region, 2019-2032 (USD Billion)
5.7. Vasodilators
5.7.1. Global Hearing Loss Disease Treatment Market, by Vasodilators, by Region, 2019-2032 (USD Billion)
5.8. Others
5.8.1. Global Hearing Loss Disease Treatment Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Hearing Loss Disease Treatment Market, by Disease Type
6.1. Key Findings
6.2. Introduction
6.2.1. Global Hearing Loss Disease Treatment Market, by Disease Type, 2019-2032 (USD Billion)
6.3. Conductive Hearing loss
6.3.1. Global Hearing Loss Disease Treatment Market, by Conductive Hearing loss, by Region, 2019-2032 (USD Billion)
6.4. Sensorineural Hearing Loss
6.4.1. Global Hearing Loss Disease Treatment Market, by Sensorineural Hearing Loss, by Region, 2019-2032 (USD Billion)
6.5. Mixed
6.5.1. Global Hearing Loss Disease Treatment Market, by Mixed, by Region, 2019-2032 (USD Billion)
7. Global Hearing Loss Disease Treatment Market, by End-Use
7.1. Key Findings
7.2. Introduction
7.2.1. Global Hearing Loss Disease Treatment Market, by End-Use, 2019-2032 (USD Billion)
7.3. Hospitals
7.3.1. Global Hearing Loss Disease Treatment Market, by Hospitals, By Region, 2019-2032 (USD Billion)
7.4. Otology clinics
7.4.1. Global Hearing Loss Disease Treatment Market, by Otology clinics, By Region, 2019-2032 (USD Billion)
7.5. Ambulatory clinics
7.5.1. Global Hearing Loss Disease Treatment Market, by Ambulatory clinics, By Region, 2019-2032 (USD Billion)
8. Global Hearing Loss Disease Treatment Market, by Geography
9. Competitive Landscape
9.1. Expansion and Acquisition Analysis
9.1.1. Expansion
9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/34i6qp
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