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Technavio has published a new report on the global bone conduction devices market from 2017-2021. (Graphic: Business Wire)
This research report titled ‘Global Bone Conduction Devices Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global bone conduction devices market is largely governed by the revenue generated from the sales of BAHA. Bone conduction headphones contribute merely 3.55% of the revenue in the market. However, despite their minimal share in revenue, bone conduction headphones are likely to contribute to the growth of the market owing to their increasing popularity. Bone conduction headphones are being widely accepted in countries such as the US and the UK since the population in these countries is more receptive to new technology.
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Technavio’s analysts categorize the global bone conduction devices market into three major segments by end user. They are:
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Hospitals that provide hearing-aid services are some of the key end-users of bone conduction devices, particularly BAHA. Both public and private sector hospitals have a specialized team of audiologists that provide BAHA and services to patients. Most of the hospitals worldwide have tie-ups or collaborations with hearing aid clinics and institutions.
According to Chetan Mohan, a lead human machine interface research analyst from Technavio, “Hospitals function in collaboration with manufacturers of BAHA to spread the necessary awareness about the benefits of using BAHA over traditional hearing aids. For most of the hearing aid services, the patient pool is dependent on the hospitals as some of these hospitals are part of government organizations that aid at subsidized rates.”
Clinics, like hospitals, provide hearing aid-related services to patients independently. A large number of such clinics worldwide have either established tie-ups with manufacturers of BAHA or insurance companies to provide medical coverage for hearing aids and implants.
“In emerging economies of APAC such as India, the rising domestic and foreign investment in healthcare might be a key factor contributing to the growth of the market in the region. The demand for sophisticated healthcare products worldwide is increasing rapidly. The bone conduction devices market for clinics is likely to witness steady growth during the forecast period as private clinics and health insurance providers are expanding their footprint in emerging economies,” says Chetan.
Individual users include two kinds of users. The first kind of individual users are those patients to whom BAHA are recommended by health insurance companies. The patients can choose from a list of clinics and hospitals from where they will get the implant done. These hospitals and clinics are the ones that have either tied-up or are working in collaboration with the insurance companies.
The second type of users are bone conduction headphone users. A bone conduction headphone is a new development, and thus, very limited number of products are available in the market as of 2016. Bone conduction headphones are usually preferred by users engaged in sports and fitness activities.
The top vendors highlighted by Technavio’s research analysts in this report are:
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