The report presents the value forecast of the global neonatal hearing screening devices market and provides important insights as well as analysis on the factors driving the market’s growth as well as the factors restricting it. As per the assessment of Persistence Market Research, the global neonatal hearing screening devices market was estimated to be valued at US$ 30.3 Mn in 2017 and is anticipated to touch a valuation of nearly US$ 44.4 Mn in 2025 and in the process exhibit a value CAGR of 4.9% during the period of forecast 2017-2025.
Low Cost of Hearing Screening Procedures and Rising Awareness of Neonatal Care Equipment Boosting the Market in Asia Pacific
Low cost hearing screening procedures at government hospitals in collaboration with National Hearing Screening Programs have spread awareness amongst the population in Asia Pacific. Developing countries, such as India, have large concentration of populations living in rural areas, which is boosting the neonatal hearing screening devices market. In 2009, the Chinese Ministry of Health recommended a scale-up of routine neonatal hearing screening, with a newly launched national plan to integrate the program into the maternal and child health services package as a part of congenital disease screening.
At present, various types of neonatal monitoring, assistance, and therapeutic care equipment are available commercially. However, the penetration rate of these advanced care equipment has been slow in low-to-medium income countries. Utilizing modern hearing screening devices to a large extent in many Asian countries which will exhibit high adoption rates of hearing devices. Raising awareness about different modern neonatal care equipment in these regions would contribute heavily towards the growth of this market in the future. In major developing countries, such as China and India, the demand for various new and advanced neonatal hearing screening devices is increasing significantly.
Global Neonatal Hearing Screening Devices Market: Segmentation and Forecast
The global neonatal hearing screening devices market is segmented on the basis of product type, modality, end user and by region.
By product type, the Auditory Brainstem Response (ABR) systems segment was estimated to be valued at US$ 14 Mn in 2017 and is estimated to reach a valuation of US$ 20 Mn in 2025, exhibiting a CAGR of 4.6% during the period of assessment 2017-2025.
By modality, the table top devices segment was estimated to be valued at US$ 4.8 Mn in 2017 and is likely to reach a valuation of US$ 6.6 Mn in 2025, displaying a CAGR of 4.0% during the period of forecast.
By end user, the hospitals segment was estimated to be valued at US$ 16.5 Mn in 2017 and is forecasted to reach a valuation of US$ 25.1 Mn in 2025, exhibiting a CAGR of 5.4% during the period of assessment.
By region, the Asia Pacific neonatal hearing screening devices market was estimated to be valued at US$ 10.1 Mn in 2017 and is anticipated to reach a valuation of US$ 15.4 Mn in 2025, exhibiting a CAGR of 5.5% during the period of forecast.
Global Neonatal Hearing Screening Devices Market: Competitive Landscape
In this report, some of the important companies that are active in the global neonatal hearing screening devices market have been profiled, which include companies such as Natus Medical Incorporated, Welch Allyn- Hill-Rom, MAICO Diagnostics GmbH, Interacoustics A/S, Path Medical GmbH, Intelligent Hearing Systems, Vivosonic Inc., Grason-Stadler Inc., Pilot Blankenfelde GmbH and ECHODIA.