New Approaches to Hearing Impairment Treatment to Bring Momentum to the Market
Substantial hearing impairment is amongst the most common abnormalities found in infants. Implementation of neonatal hearing screening devices is imperative because of hearing loss or hard-of-hearing in infants.
For instance, according to American Academy of Pediatrics, considerable bilateral hearing loss is found approximately in one to three per thousand newly born in the well-baby nursery population, and approximately in two to four infants in every hundred newborns in the intensive care unit population. Such factors spur growth in the neonatal hearing screening devices market.
The market of global neonatal hearing screening devices is expected to grow at a healthy pace in the forecast period, reaching the market value of ~ US$ 57 Mn by the end of 2029, owing to the increasing advancements in neonatal hearing screening devices and raising awareness about the benefits of using neonatal hearing screening devices.
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- Natus Medical Incorporated
- Welch Allyn (Hill-Rom Inc.)
- Demant A/S
- Path Medical GmbH
- Intelligent Hearing Systems
- Vivosonic Inc.
- Pilot Blankenfelde GmbH
- Echodia SAS
Propelling Demand for Easy-to-use and Cost-effective Devices in Pediatric Healthcare Units
Genetic disorders, low birth weight, exposure to certain toxic chemicals or medicines while in the womb or after birth, could render the newborn with hearing loss, fueling the demand for neonatal hearing screening devices.
For instance, according to Centers for Disease Control and Prevention (CDC), over half a million babies in the U.S. are born in a premature state each year, of which some suffer short-term and long-term health problems, which is due to the shortage of skilled neonatal nurses or low accessibility to advanced neonatology technologies, such as neonatal hearing screening devices. The use of neonatal hearing screening devices has thus become imperative, especially in neonatal intensive care units.
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Strengthening Pediatric Care Landscape Points to Potential Rise in Sales of Neonatal Hearing Screening Devices
Early identification and intervention of hearing loss programs in countries with high number of hearing screening procedures such as Brazil, is most likely to propel the growth of the neonatal hearing screening devices market in the region. Initiatives by the government and funding towards the neonatal infant care also account for the increase in the adoption of neonatal hearing screening devices.
For example, Brazil has over 237 screening sites across 22 of the 27 Brazilian states (approximately 4% of Brazilian maternity hospitals) where screening is done and the country has passed a legislation to implement universal newborn hearing screening in birthing facilities.
Thus, rising awareness with the initiation of different governmental programs and endorsement for advanced neonatal hearing screening devices to treat infants across different countries contribute heavily towards the growth of the neonatal hearing screening devices market and will continue to do so in the future.
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Technological Advancements Remain High Influential
Growing focus on neonatal care has brought many advancements in neonatal hearing screening devices. The technological juggernaut has already accelerated to a new level and has resulted in making Universal Newborn Hearing Screening (UNHS) viable. Thus, prompting a progressive review of neonatal hearing screening devices and cleared a path to the scientific assessment of the benefits of early intervention.
Implementation of handheld and portable devices, and accuracy in the screening of infants’ hearing, fuels the overall growth of neonatal hearing screening devices market. To freeze such growth opportunities, companies in neonatal hearing screening devices are focusing on developing portable and handheld hearing screener.
For instance, Auditory Brainstem Response (ABR) and Otoacoustic Emission (OAE) neonatal hearing screening devices are handhelds, portable, easy -to-use and lightweight with advanced technology in the screener. Government-funded ventures and clinical screening projects have associated to emphasize the robustness and effectiveness of UNHS programs in line with the progression in ABR and OAE powered neonatal hearing screening devices.
Moreover, growing per capita healthcare expenditure is also likely to propel the growth of the neonatal hearing screening devices market. For instance, over the past few decades, global per capita healthcare expenditure has almost doubled due to the growing rate of awareness regarding neonatal hearing complications and implementation of neonatal hearing screening devices.
Increasing healthcare spending is anticipated to result in rising demand for better quality medical devices, and in turn, will create lucrative growth opportunities for market players in the global neonatal hearing screening devices market.
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An extensive analysis on the neonatal hearing screening devices market has resulted for our analysts to conclude that the neonatal hearing screening devices industry is growing at a notable pace, with Asia Pacific and Europe dominating the worldwide market demand for neonatal hearing screening devices and its applications.
The rising number of pediatric specialty clinics and growing awareness regarding neonatal healthcare adds to the increasing need of neonatal hearing screening devices and thus anticipated to provide huge growth opportunities for the key market players in neonatal hearing screening devices landscape.
Key Segments of the Neonatal Hearing Screening Devices Market
PMR’s research on the neonatal hearing screening devices market provides information organized in four critical segments –product type, modality, end user, and region. This report compiles extensive market research information and data on the important business dynamics and development parameters linked with these classifications.
Key Questions Answered in PMR’s Neonatal hearing screening devices Market Report
- Which variables could alter the demand for neonatal hearing screening devices during the evaluated and forecast period?
- What are the restraints that investors need to be aware of and might tackle while investing in the neonatal hearing screening devices market?
- What are the trends in neonatal hearing screening devices sector that will impact the market?
- Which business approaches are the key companies taking to prosper in the neonatal hearing screening devices market?
- Which regions will stay the most lucrative markets for market participants in neonatal hearing screening devices?
- How businesses in the neonatal hearing screening devices market can avail the growth opportunities in developed and emerging sectors?