The global neonatal hearing screening devices market has the potential to grow by USD 15.65 million during 2019-2023, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (Asia, Europe, North America, and ROW) and product (desktop and compact devices and handheld devices). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Demant AS, ECHODIA, Hill-Rom Holdings Inc., Intelligent Hearing Systems, M.R.S. Srl, Natus Medical Inc., Otodynamics Ltd., PATH MEDICAL GmbH, Pilot Blankenfelde GmbH, and Vivosonic Inc.
Market Overview
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Market Competitive Analysis
The market is fragmented, and the degree of fragmentation will decrease during the forecast period. Prominent market vendors are increasingly focusing on various growth strategies, such as acquisitions, partnerships, and collaborations, to broaden their technological landscapes and increase their market share. Demant AS, ECHODIA, and Hill-Rom Holdings Inc. are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the high costs associated with neonatal hearing screening will challenge the growth of the market participants. To increase their neonatal hearing screening devices market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this neonatal hearing screening devices market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this neonatal hearing screening devices market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading neonatal hearing screening device companies, including:
- Demant AS
- ECHODIA
- Hill-Rom Holdings Inc.
- Intelligent Hearing Systems
- M.R.S. Srl
- Natus Medical Inc.
- Otodynamics Ltd.
- PATH MEDICAL GmbH
- Pilot Blankenfelde GmbH
- Vivosonic Inc.
Neonatal Hearing Screening Devices Market: Segmentation by Region
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North America is one of the largest markets for neonatal hearing screening devices, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing birth rate, rising prevalence of hearing loss among newborns, and the presence of favorable reimbursement programs are some of the factors contributing to neonatal hearing screening devices market growth in this region.
Almost 41% of the market’s growth will originate from North America during the forecast period. The US is a crucial market for neonatal hearing screening devices in North America. However, market growth in this region will be slower than the growth of the market in Asia and Europe.
Neonatal Hearing Screening Devices Market: Segmentation by Product
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Desktop and compact devices are integrated with various data management and reporting tools that help in providing accurate neonatal hearing screening results. Factors such as increased memory space for data storage, easy upgradation, fast processing, and cost-effectiveness of tabletop devices will drive the adoption of desktop and compact neonatal hearing screening devices in hospital facilities.
However, market growth in this segment will be slower than the growth of the market in the handheld devices segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the neonatal hearing screening devices market size.
Neonatal Hearing Screening Devices Market: Key Drivers and Trends
The increasing prevalence of hearing disorders in newborns will be a significant factor driving the growth of the neonatal hearing screening devices market. Genetic issues and certain environmental factors, such as maternal infections during pregnancy and complications after birth, are responsible for hearing loss among newborn babies. Hearing loss is one of the most prevalent congenital disabilities in newborns and can severely affect an infant’s ability to learn a language and develop speech. Hence, the screening of hearing loss and hearing impairment is necessary for the early diagnosis and treatment of newborns. Thus, the increasing prevalence of hearing loss and hearing impairment and the future complications associated with it will boost the growth of the neonatal hearing screening devices market during the forecast period. Moreover, the increasing number of neonatal intensive care units (NICUs) will also fuel the demand for neonatal hearing screening devices. The usage of advanced equipment such as neonatal hearing screening devices and the presence of skilled professionals in NICUs help in the early screening of newborns for hearing loss.
- Technological advancements in neonatal screening devices will be critical neonatal hearing screening devices market trends contributing to market growth.
- Market vendors are increasingly focusing on the development of new technologies and next-generation devices for screening.
- Next-generation devices are incorporated with a wide range of features related to flexible data entry, expanded input options, and seamless data management that enhance the usability of neonatal hearing screening devices.
- The next-generation all-in-one screening devices also help in providing multiple screenings with high quality and efficacy.
- Some companies are also focusing on the development of products integrated with data backup utility that will help with inconsistent result transfers to a central database.
- The development of such neonatal hearing screening devices with unique technological features will enhance the comfort of patients as well as healthcare professionals.
- During 2019-2023, the neonatal hearing screening devices market will grow at a CAGR of over 5%.
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Neonatal Hearing Screening Devices Market: Key Highlights of the Report for the Forecast Period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the neonatal hearing screening devices market during the next five years
- Precise estimation of the global neonatal hearing screening devices market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the neonatal hearing screening devices industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of neonatal hearing screening devices vendors
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