Asia Pacific Hearing Loss Disease Treatment Market Size, Share & Industry Trends Analysis Report By Disease Type (Sensorineural, Conductive and Mixed), By Product, By End-user (Otology Clinics, Hospitals and Ambulatory Clinics), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Hearing Loss Disease Treatment Market would witness market growth of 5.0% CAGR during the forecast period (2022-2028).
Hearing aid devices have gained traction during the past few years as frequency of hearing loss & deafness has grown. The increasing burden of the elderly population is further anticipated to rise the demand for hearing aid devices in the coming years. This is due to possibility of increasing occurrence presbycusis, also known as age-related hearing loss, which develops slowly as a person becomes old.
Conductive hearing loss treatment choice generally includes medical involvement from an ENT specialist to confront the particular cause. Conductive hearing loss generally occurs when something prevents sound from reaching the inner ear.
China is considered one of the quickly aging populations in the world. Owing to declining fertility rates and prolonged life expectancy, the population of people above 60 years of age in China is expected to reach 28% by 2040. This profound demographic change offers various new opportunities & challenges for public health & socioeconomic growth. Also, it was observed that there was an increase in age-related hearing loss cases because of the growing aging population in Japan. In addition, Japan is also witnessing an increase in the number of youngsters with hearing problems due to stress & noise-induced hearing loss. The rise in hearing loss patients and the aging population will increase demand for the hearing loss disease treatment market in the upcoming years.
The China market dominated the Asia Pacific Hearing Loss Disease Treatment Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,299.7 Million by 2028.The Japan market is experiencing a CAGR of 4.4% during (2022 - 2028). Additionally, The India market would display a CAGR of 5.6% during (2022 - 2028).
Based on Disease Type, the market is segmented into Sensorineural, Conductive and Mixed. Based on Product, the market is segmented into Devices and Drugs. Based on End-user, the market is segmented into Otology Clinics, Hospitals and Ambulatory Clinics. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Hearing Loss Disease Treatment Market is Projected to reach USD 16 Billion by 2028, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Astellas Pharma, Inc, WS Audiology A/S, Otonomy, Inc, Sensorion, Frequency Therapeutics, Inc, Acousia Therapeutics GmbH, Pipeline Therapeutics, Inc, Audina Hearing Instruments, Inc, and Audifon GmbH & CO. KG.
Scope of the Study
Market Segments Covered in the Report:
By Disease Type
- Otology Clinics
- Ambulatory Clinics
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Novartis AG
- Astellas Pharma, Inc
- WS Audiology A/S
- Otonomy, Inc
- Frequency Therapeutics, Inc
- Acousia Therapeutics GmbH
- Pipeline Therapeutics, Inc
- Audina Hearing Instruments, Inc
- Audifon GmbH & CO. KG
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