Report : Asia Pacific Medical Audiometer Devices Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (PC-Based Audiometer, Standalone Audiometers, and Hybrid Audiometers) and End User (Hospitals and Clinics, Diagnostic Centers, and Research Centers)
Hybrid Audiometers Segment is Expected to be Fastest Growing During Forecast Period for APAC Region
According to a new market research study on “APAC Medical Audiometer Devices Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and End User,” is expected to reach US$ 41.60 million by 2028 from US$ 28.97 million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the APAC medical audiometer devices market along with the drivers and restraints pertaining to the market growth. Growing focus of market players and governments on addressing hearing impairment issues in developing countries and rising emphasis on digital diagnostic hearing devices are the major factor driving the growth of the APAC medical audiometer devices market. However, shortage of trained professionals for using audiometers may hinder the growth of APAC medical audiometer devices market.
The enormous demand for effective therapies for the treatment of COVID-19 has put the healthcare research industry in a critical situation. Asian economies were among the earliest epicenters of the COVID-19 pandemic but were also more effective in controlling and managing the spread of the virus. Powerful economies such as Japan and South Korea felt the disruption that the pandemic caused. For instance, the pandemic led the Japanese economy to contract by 29% on an annualized basis. In December 2020, real wages fell for the 10th consecutive month, reaching their worst level. Exports initially dropped 11.1%, their lowest since 2012, following China’s contraction at the beginning of 2020, and accounted for roughly half of last year’s economic contraction. In the early discovery of cases, contact tracing hit country, treatment of patients, and public health workforce workers in clinical settings played a crucial role. The shutdown of various plants and factories affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. A few companies have already announced possible delays in product deliveries and slump in future sales of their products.
The APAC medical audiometer devices market is segmented into type, end user, and country. Based on type, the medical audiometer devices market is segmented into hybrid audiometers, standalone audiometers, and PC-based audiometer. In 2021, the PC-based audiometer segment held the largest share of the market. Based on end user the medical audiometer devices market is divided into hospitals and clinics, research centers, and diagnostic centers. The hospitals and clinics segment is expected to the fastest growing segment over the forecast period. On the basis of country, the market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
Auditdata, Hill Rom Holding Inc., INTERACOUSTICS AS, and Natus Medical Incorporated are among the leading companies in the APAC medical audiometer devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Hillrom announced it had acquired contact-free continuous monitoring technology from EarlySense for terms including cash consideration of $30 million. This acquisition underscores Hillrom's continued commitment to building a differentiated suite of connected solutions to improve patient outcomes.
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