The Ent Devices Market is stated to place itself in good stead In Upcoming Years. With the breakneck pace being witnessed regarding digital technologies, organizations across the globe are putting their best foot forward for serving their customers at ease. With over 40% of the IT budget being allocated to digitization, more than 70% of the workplaces have either resorted to it or are into the adoption mode herein. This trend is likely to change the entire industry scenario, with no room for mediocrity, as every solution would be tailor-made.
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The global ENT devices market is segmented into hearing aid devices, voice prosthesis, diagnostic devices and hearing implants.
In terms of geographic, North America dominates the global ENT devices market due to technological advancement in ENT arena in the region. The U.S. represents the largest market for ENT devices followed by Canada in North America. In Europe, France, Germany and the U.K. holds major share of ENT devices market. However, Asia is expected to show high growth rates in the next five years in global ENT devices market. This is due to many companies constructing their device manufacturing facilities in the region. In addition, increasing awareness about ear, nose and throats related medical conditions is also supporting in the growth of ENT devices market in the region. Moreover, rapid urbanization in developing countries of the Asia has also contributed to the growth ENT devices market. Rapid urbanization has increased the prevalence of ENT disorders in the region. This has resulted in significant rise in the demand of ENT devices in Asia. Japan, China and India are expected to be the fastest growing ENT devices markets in Asia.
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In recent time, increasing aging population and prevalence of ENT disorders are some of the major drivers of global ENT devices market. Aging enhances the probability of hearing loss and disorders of nose and throat. To overcome this problem, aged people require ENT devices for treatment of hearing loss and disorders of nose and throat which further increase the demand of devices.
Technological advancement in hearing aid devices has also fueled the growth of global ENT devices market. For instance, introduction of rechargeable consumer hearing aid devices offers numerous advantages compared to the conventional hearing aid devices. Rechargeable hearing aid devices are smaller in sizes. Moreover, these rechargeable hearing aid devices are environmentally friendly and easy to use.
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However, problem associated with voice prosthesis and high cost of ENT devices are some of the major restraints of global ENT devices market. In addition, less battery life of hearing aid devices and lack of adequate number of professionals to dispense and fit ENT devices also hamper the growth of global ENT devices market. Increasing mergers and collaborations between ENT devices manufacturing companies is key trend of the market.
Some of the major companies operating in the global ENT devices market are Cochlear Ltd., Sonova Holding AG, Siemens Healthcare, Starkey Laboratories Inc., William Demant Holding A/S, Widex A/S, GN ReSound A/S, Sonic Innovations Inc., Panasonic Corp., Beltone, Rexton Inc., Avada Hearing Care, Miracle-Ear Inc., MED-EL GmbH, Nuear Hearing Aids Inc., Audiosync Inc., Bernafon, American Hearing Systems Inc., Unitron Hearing Inc. and Zounds Inc.
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