The Neonatal Hearing Screening Devices Market to be backed by incorporation of blockchain at a CAGR of 3.50%

Neonatal Hearing Screening Devices Market 2022

In 2022, the Neonatal Hearing Screening Devices Market stands at USD 38.7 million, and it is expected to reach USD 44.4 million by 2025 at a CAGR of 3.5%. Increased awareness and technological advancements are the key factors driving the growth of the market.

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While virtual care coupled with telehealth is here to stay, hybrid model of healthcare ought to dominate the Neonatal Hearing Screening Devices Market in the near future. Initial consultations are done through video call, thereby saving on time. The next course of action could face less downtime, as arrangement of appointments as well as following-up would be all the more convenient and efficient. This would be the behaviour of Neonatal Hearing Screening Devices Market in the near future.

According to Persistence Market Research’s latest report, the Global Neonatal Hearing Screening Devices Market size will surpass US$ 44.4 Million in terms of market value by 2025, at a CAGR of 3.5%. Compulsory hearing screening and low-cost to no-cost procedures encourage a high percentage of Universal Neonatal Hearing Screening coverage (UNHS). This has resulted in an upsurge in the demand for newborn hearing screening devices.

Newborn hearing screening devices are gaining popularity in numerous countries due to government-run national programs and their practicality and efficacy. Furthermore, as more people become aware of the availability of modern newborn hearing screening devices, the demand for ergonomically fit, cost-effective, and user-friendly screening neonatal hearing screening devices has grown, benefiting market growth.

Company Profiles:

  • Natus Medical Incorporated
  • Welch Allyn (Hill-Rom Inc.)
  • Demant A/S
  • Path Medical GmbH
  • Intelligent Hearing Systems
  • Vivosonic Inc.
  • Pilot Blankenfelde GmbH
  • Echodia SAS

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Asia Pacific and Europe to Hold Major Growth Opportunities

Based on regional analysis, the growth opportunities for the neonatal hearing screening device market are increasing in Europe and the Asia Pacific due to the growth of pediatric clinics and increased awareness levels regarding newborn care. Moreover, the demand for easy-to-use and cost-effective newborn hearing screening equipment is expanding considerably in major emerging nations such as India and China, stimulating market growth. The Asia-Pacific region is looked upon as the most appealing region for the neonatal hearing screening devices market because of the large customer base, excellent reimbursement environment, and accessibility and affordability of diagnostic services.

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PMR has presented a comprehensive report based on Neonatal Hearing Screening Devices Market as per Product Type (Auditory Brainstem Response (ABR) Systems, Otoacoustic Emission (OAE) Systems, Combination Systems), Modality (Table Top Devices, Trolley Mounted Devices, Portable and Hand-held Devices), End User (Hospitals, Specialty Clinics, Others) based on seven regions.

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