Hearing Aids Market - Global Industry Analysis

Hearing Aids Market - by Product [Hearing Aid Devices (Receiver-In-The-Ear Hearing Aids, Behind-The-Ear Hearing Aids, Canal Hearing Aids, In-The-Ear (ITE) Hearing Aids, and Other Hearing Aid Devices) and Hearing Implants (Cochlear Implants and Bone-Anchored Systems)], by Technology (Conventional Hearing Aid and Digital Hearing Aid), and by Distribution Channel (Audiology and ENT Clinics, Pharmacies, Online Sales, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017–2024

Published Date: 26-Nov-2018 Category: Medical Device Report Format : PDF Pages: 110 Report Code: ZMR-2769 Status : Published

Global Hearing Aids Market, which was estimated at 6.32 (USD Billion) in 2017 and is predicted to accrue earnings worth 9.17 (USD Billion) by 2024, is set to record a CAGR of nearly 5.45% over 2018-2024.

Description

The global Hearing Aids Market, which was estimated at 6.32 (USD Billion) in 2017 and is predicted to accrue earnings worth 9.17 (USD Billion) by 2024, is set to record a CAGR of nearly 5.45% over 2018-2024. The report offers valuation and analysis of Hearing Aids Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on value (USD Billion).

Introduction

A hearing aid is tiny electronic equipment that is worn behind the ear for increasing the frequency of the sound. It is a battery powered instrument that is designed for enhancing the hearing ability.  A hearing aid comprises of three parts including microphone, speaker, and amplifier. For instance, hearing aid receives the sound waves via microphone which it sends to amplifier. The amplifier amplifies the sound and sends it to the receiver which transports it to the ear. The hearing aids are utilized by the people who have damaged inner ear due to aging, ailment, loud noise, and medicines.       

Hearing-Aids-Market

Market Growth Dynamics

Growing incidences of hearing loss, surge in aging populace, and technological breakthroughs will prompt the expansion of hearing aids industry over the forthcoming years. In addition to this, massive utilization of lithium-ion batteries in the hearing aids will further drive the market trends. With the launching of 3D printing systems in hearing aid production, the market for hearing aids is likely to gain traction over the forthcoming years. Nonetheless, hearing aids can lead to problems like moisture & ear wax problems, faulty feedback, and not best-fit size for an individual or one-size fits all problems. All these aspects can impede the market growth over the ensuing years.

Furthermore, growing health awareness and improvement in the healthcare facilities in developing countries along with high focus on early diagnosis of deafness in individuals is predicted to translate into huge growth of the market over the forthcoming years. Moreover, large amount of subsidies and incentives are offered by governments globally for preventing & managing hearing disorders and this will further culminate into humongous market expansion over the coming decade.

Europe To Make Lucrative Contributions Towards Overall Market Revenue By 2024

The growth of the industry in the continent over forecast timeline is ascribed to increment in the cases of auditory loss along with the massive awareness about the various kinds of hearing loss therapies resulting in acceptance of hearing aids in the region. Apart from this, surge in the occurrence of deafness in the European countries will prompt the market penetration in the region. In addition to this, thriving audiology equipment business in the continent will further translate into huge market demand over the foreseeable future. Additionally, inflating geriatric population in Europe that is prone to hearing problems will further drive the regional market trends.

Key players profiled in the report include RION, Horentek, Siemens AG, MED-EL, SeboTek Hearing Systems, Audina Hearing Instruments, Microson, Arphi Electronics, Sonova, and Widex A/S.

This report segments the global hearing aids market as follows:

Global Hearing Aids Market: Product Segment Analysis

  • Hearing Aid Devices
    • Receiver-In-The-Ear Hearing Aids
    • Behind-The-Ear Hearing Aids
    • Canal Hearing Aids
    • In-The-Ear (ITE) Hearing Aids
    • Other Hearing Aid Devices
  • Hearing Implants
    • Cochlear Implants
    • Bone-Anchored Systems

Global Hearing Aids Market: Technology Segment Analysis

  • Conventional Hearing Aid
  • Digital Hearing Aid

Global Hearing Aids Market: Distribution Channel Segment Analysis

  • Audiology and ENT Clinics
  • Pharmacies
  • Online Sales
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Global hearing aids market, 2017 - 2024 (USD Billion)
    • 2.2. Global hearing aids market : snapshot
  •  
  • Chapter 3. Global Hearing Aids Market - Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Global hearing aids market drivers: impact analysis
      • 3.2.2. Rising geriatric population
      • 3.2.3. High prevalence of hearing loss
      • 3.2.4. Technological advancements in hearing aids
    • 3.3. Market Restraints
      • 3.3.1. Global hearing aids market restraints: impact analysis
      • 3.3.2. Low penetration of hearing aids owing to their high cost and low awareness
    • 3.4. Opportunities
      • 3.4.1. Huge untapped market
    • 3.5. Porter's five forces analysis
      • 3.5.1. Bargaining power of suppliers
      • 3.5.2. Bargaining power of buyers
      • 3.5.3. Threat from new entrants
      • 3.5.4. Threat from new substitutes
      • 3.5.5. Degree of competition
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis, by product segment
      • 3.6.2. Market attractiveness analysis, by technology segment
      • 3.6.3. Market attractiveness analysis, by distribution channel segment
      • 3.6.4. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Hearing Aids Market - Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global hearing aids market : company market share, 2017
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New therapy launch
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and regional expansion
    • 4.3. Price trend analysis
  •  
  • Chapter 5. Global Hearing Aids Market - Product Segment Analysis
    • 5.1. Global hearing aids market: product overview
      • 5.1.1. Global hearing aids market revenue share, by product, 2017 and 2024
    • 5.2. Hearing Aid Devices
      • 5.2.1. Global hearing aids market for hearing aid devices, 2017 - 2024 (USD Billion)
        • 5.2.1.1. Receiver-In-The-Ear Hearing Aids
          • 5.2.1.1.1. Global hearing aid devices market for receiver-in-the-ear hearing aids, 2017 - 2024 (USD Billion)
        • 5.2.1.2. Behind-The-Ear Hearing Aids
          • 5.2.1.2.1. Global hearing aid devices market for behind-the-ear hearing aids, 2017 - 2024 (USD Billion)
        • 5.2.1.3. Canal Hearing Aids
          • 5.2.1.3.1. Global hearing aid devices market for canal hearing aids, 2017 - 2024 (USD Billion)
        • 5.2.1.4. In-The-Ear (ITE) Hearing Aids
          • 5.2.1.4.1. Global hearing aid devices market for in-the-ear (ITE) hearing aids, 2017 - 2024 (USD Billion)
        • 5.2.1.5. Other Hearing Aid Devices
          • 5.2.1.5.1. Global hearing aid devices market for other hearing aid devices, 2017 - 2024 (USD Billion)
    • 5.3. Hearing Implants
      • 5.3.1. Global hearing aids market for hearing implants, 2017 - 2024 (USD Billion)
        • 5.3.1.1. Cochlear Implants
          • 5.3.1.1.1. Global hearing implants market for cochlear implants, 2017 - 2024 (USD Billion)
        • 5.3.1.2. Bone-Anchored Systems
          • 5.3.1.2.1. Global hearing implants market for bone-anchored systems, 2017 - 2024 (USD Billion)
  •  
  • Chapter 6. Global Hearing Aids Market - Technology Segment Analysis
    • 6.1. Global hearing aids market : technology overview
      • 6.1.1. Global hearing aids market revenue share, by technology, 2017 and 2024
    • 6.2. Conventional Hearing Aid
      • 6.2.1. Global hearing aids market for conventional hearing aid, 2017 - 2024 (USD Billion)
    • 6.3. Digital Hearing Aid
      • 6.3.1. Global hearing aids market for digital hearing aid, 2017 - 2024 (USD Billion)
  •  
  • Chapter 7. Global Hearing Aids Market - Distribution Channel Segment Analysis
    • 7.1. Global hearing aids market : distribution channel overview
      • 7.1.1. Global hearing aids market revenue share, by distribution channel, 2017 and 2024
    • 7.2. Audiology and ENT Clinics
      • 7.2.1. Global hearing aids market for audiology and ENT clinics, 2017 - 2024 (USD Billion)
    • 7.3. Pharmacies
      • 7.3.1. Global hearing aids market for pharmacies, 2017 - 2024 (USD Billion)
    • 7.4. Online Sales
      • 7.4.1. Global hearing aids market for online sales, 2017 - 2024 (USD Billion)
    • 7.5. Others
      • 7.5.1. Global hearing aids market for others, 2017 - 2024 (USD Billion)
  •  
  • Chapter 8. Global Hearing Aids Market - Regional Segment Analysis
    • 8.1. Global hearing aids market : regional overview
      • 8.1.1. Global hearing aids market revenue share, by region, 2017 and 2024
    • 8.2. North America
      • 8.2.1. North America hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
      • 8.2.2. North America hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
      • 8.2.3. North America hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.2.4. The U.S.
        • 8.2.4.1. The U.S. hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.2.4.2. The U.S. hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.2.4.3. The U.S. hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.2.5. Canada
        • 8.2.5.1. Canada hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.2.5.2. Canada hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.2.5.3. Canada hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
    • 8.3. Europe
      • 8.3.1. Europe hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
      • 8.3.2. Europe hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
      • 8.3.3. Europe hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.3.4. U.K.
        • 8.3.4.1. U.K. hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.3.4.2. U.K. hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.3.4.3. U.K. hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.3.5. Germany
        • 8.3.5.1. Germany hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.3.5.2. Germany hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.3.5.3. Germany hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.3.6. France
        • 8.3.6.1. France hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.3.6.2. France hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.3.6.3. France hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.3.7. Rest of Europe
        • 8.3.7.1. Rest of Europe hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.3.7.2. Rest of Europe hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.3.7.3. Rest of Europe hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
    • 8.4. Asia Pacific
      • 8.4.1. Asia Pacific hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
      • 8.4.2. Asia Pacific hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
      • 8.4.3. Asia Pacific hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.4.4. China
        • 8.4.4.1. China hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.4.4.2. China hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.4.4.3. China hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.4.5. Japan
        • 8.4.5.1. Japan hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.4.5.2. Japan hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.4.5.3. Japan hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.4.6. India
        • 8.4.6.1. India hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.4.6.2. India hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.4.6.3. India hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.4.7. Rest of Asia Pacific
        • 8.4.7.1. Rest of Asia Pacific hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.4.7.2. Rest of Asia Pacific hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.4.7.3. Rest of Asia Pacific hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
    • 8.5. Latin America
      • 8.5.1. Latin America hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
      • 8.5.2. Latin America hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
      • 8.5.3. Latin America hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.5.4. Brazil
        • 8.5.4.1. Brazil hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.5.4.2. Brazil hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.5.4.3. Brazil hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
      • 8.5.5. Rest of Latin America
        • 8.5.5.1. Rest of Latin America hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
        • 8.5.5.2. Rest of Latin America hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
        • 8.5.5.3. Rest of Latin America hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
    • 8.6. The Middle East and Africa
      • 8.6.1. The Middle East and Africa hearing aids market revenue, by product, 2017 - 2024 (USD Billion)
      • 8.6.2. The Middle East and Africa hearing aids market revenue, by technology, 2017 - 2024 (USD Billion)
      • 8.6.3. The Middle East and Africa hearing aids market revenue, by distribution channel, 2017 - 2024 (USD Billion)
  •  
  • Chapter 9. Company Profile
    • 9.1. Horentek
      • 9.1.1. Overview
      • 9.1.2. Financials
      • 9.1.3. Product portfolio
      • 9.1.4. Business strategy
      • 9.1.5. Recent developments
    • 9.2. MED-EL
      • 9.2.1. Overview
      • 9.2.2. Financials
      • 9.2.3. Product portfolio
      • 9.2.4. Business strategy
      • 9.2.5. Recent developments
    • 9.3. Audina Hearing Instruments
      • 9.3.1. Overview
      • 9.3.2. Financials
      • 9.3.3. Product portfolio
      • 9.3.4. Business strategy
      • 9.3.5. Recent developments
    • 9.4. Microson
      • 9.4.1. Overview
      • 9.4.2. Financials
      • 9.4.3. Product portfolio
      • 9.4.4. Business strategy
      • 9.4.5. Recent developments
    • 9.5. SeboTek Hearing Systems
      • 9.5.1. Overview
      • 9.5.2. Financials
      • 9.5.3. Product portfolio
      • 9.5.4. Business strategy
      • 9.5.5. Recent developments
    • 9.6. Sonova
      • 9.6.1. Overview
      • 9.6.2. Financials
      • 9.6.3. Product portfolio
      • 9.6.4. Business strategy
      • 9.6.5. Recent developments
    • 9.7. RION
      • 9.7.1. Overview
      • 9.7.2. Financials
      • 9.7.3. Product portfolio
      • 9.7.4. Business strategy
      • 9.7.5. Recent developments
    • 9.8. Arphi Electronics
      • 9.8.1. Overview
      • 9.8.2. Financials
      • 9.8.3. Product portfolio
      • 9.8.4. Business strategy
      • 9.8.5. Recent developments
    • 9.9. Siemens AG
      • 9.9.1. Overview
      • 9.9.2. Financials
      • 9.9.3. Product portfolio
      • 9.9.4. Business strategy
      • 9.9.5. Recent developments
    • 9.10. Widex A/S
      • 9.10.1. Overview
      • 9.10.2. Financials
      • 9.10.3. Product portfolio
      • 9.10.4. Business strategy
      • 9.10.5. Recent developments

Table Of Figures

List of Figures 

1. Market research process
2. Market methodology
3. Global hearing aids market revenue, 2017 – 2024 (USD Billion) 
4. Porter’s five forces analysis
5. Hearing aids market attractiveness analysis, by product segment
6. Hearing aids market attractiveness analysis, by technology segment
7. Hearing aids market attractiveness analysis, by distribution channel segment
8. Hearing aids market attractiveness analysis, by regional segment
9. Company market share analysis, 2017 
10. Global hearing aids market revenue share by product, 2017 and 2024
11. Global hearing aids market for hearing aid devices, 2017 – 2024 (USD Billion)
12. Global hearing aids market for hearing implants, 2017 – 2024 (USD Billion)
13. Global hearing aids market revenue share by technology, 2017 and 2024
14. Global hearing aids market for conventional hearing aid, 2017 – 2024 (USD Billion)
15. Global hearing aids market for digital hearing aid, 2017 – 2024 (USD Billion)
16. Global hearing aids market revenue share by distribution channel, 2017 and 2024
17. Global hearing aids market for audiology and ENT clinics, 2017 – 2024 (USD Billion)
18. Global hearing aids market for pharmacies, 2017 – 2024 (USD Billion)
19. Global hearing aids market for online sales, 2017 – 2024 (USD Billion)
20. Global hearing aids market for others, 2017 – 2024 (USD Billion)
21. Global hearing aids market revenue share by regions, 2017 and 2024
22. North America hearing aids market, 2017 – 2024 (USD Billion)
23. Europe hearing aids market, 2017 – 2024 (USD Billion)
24. Asia Pacific hearing aids market, 2017 – 2024 (USD Billion)
25. Latin America hearing aids market, 2017 – 2024 (USD Billion)
26. The Middle East and Africa hearing aids market, 2017 – 2024 (USD Billion)
 


Table Of Tables

List of Tables

1. Hearing aids market: market snapshot                                                                                                                        
2. Drivers of global hearing aids market : impact analysis 
3. Restraints of global hearing aids market : impact analysis  
4. North America hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
5. North America hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
6. North America hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
7. The U.S. hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
8. The U.S. hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
9. The U.S. hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
10. Canada hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
11. Canada hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
12. Canada hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
13. Europe hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
14. Europe hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
15. Europe hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
16. U.K. hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
17. U.K. hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
18. U.K. hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
19. Germany hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
20. Germany hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
21. Germany hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
22. France hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
23. France hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
24. France hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
25. Rest of Europe hearing aids market revenue, by product, 2017 – 2024 (USD Billion) 
26. Rest of Europe hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
27. Rest of Europe hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
28. Asia Pacific hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
29. Asia Pacific hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
30. Asia Pacific hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
31. China hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
32. China hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
33. China hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
34. Japan hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
35. Japan hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
36. Japan hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
37. India hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
38. India hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
39. India hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
40. Rest of Asia Pacific hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
41. Rest of Asia Pacific hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
42. Rest of Asia Pacific hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
43. Latin America hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
44. Latin America hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
45. Latin America hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
46. Brazil hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
47. Brazil hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
48. Brazil hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
49. Rest of Latin America hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
50. Rest of Latin America hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
51. Rest of Latin America hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
52. The Middle East and Africa hearing aids market revenue, by product, 2017 – 2024 (USD Billion)
53. The Middle East and Africa hearing aids market revenue, by technology, 2017 – 2024 (USD Billion)
54. The Middle East and Africa hearing aids market revenue, by distribution channel, 2017 – 2024 (USD Billion)
 

Methodology

Free Analysis

Hearing aids help a person with hearing loss, by making sound audible for them. Today, the most common issues faced by the population with hearing impairment are hearing in wind and hearing speech in an extremely noisy environment. However, earlier devices are switched with modern hearing aids that are more compact and easy-to-use. New technologies are being introduced in the market, which offers natural quality sound without disturbance. Next-generation hearing aids are being developed in order to tackle common problems faced by current hearing aid devices. Hearing aids today come with smart sensors that offer more convenience to the users. Wireless hearing aids developed by many companies are gaining traction in the hearing aids market.

As per the WHO stats, nearly 7-8% of the population is suffering from hearing impairment. Besides, almost 20% of the adult and geriatric population is affected by hearing loss, the majority of which is found in less developed countries. This inability to communicate with others is leading to feelings of loneliness, frustration, and social exclusion among the aged population. To curtail the unmet demand for these devices, the manufacturers in the hearing aids market are developing devices that can be inserted in the ear, thus, making them invisible to overcome the social stigma linked with such devices. Manufacturers in the hearing aids market are involved in new product development. For instance, Bluetooth connectivity features in hearing aid devices are helping the users to have a better quality of life. Furthermore, the introduction of digital signal processing has also revolutionized the hearing aids market. Furthermore, technological developments like speech enhancement and digital noise reduction are further likely to facilitate this market’s growth globally.

Hearing-Aids-Market

The hearing aids market is segmented on the basis of product, technology, and distribution channel. By product type, this market is segmented into hearing implants and hearing aid devices. The hearing implants are further segmented into cochlear implants and bone-anchored systems. The hearing aid devices segment is further divided into receiver-in-the-ear hearing aids, canal hearing aids, in-the-ear (ITE) hearing aids, behind-the-ear hearing aids, and other hearing aid devices. By technology, this market is segmented into the conventional hearing aid and digital hearing aid. By distribution channel, this market is segmented into audiology and ENT clinics, pharmacies, online sales, and others.

North America and Europe are anticipated to dominate the market for hearing aids and are likely to hold major market shares in the forecast time period. High patient awareness related to hearing impairment, speech-language therapies, technology innovation, and government initiatives and reimbursement policies are likely to make North America and Europe the leading growth regions in the global hearing aids market. Moreover, market vendors are more focused on leveraging advanced technology to enable product enhancement and modification of digital hearing aids. The Asia Pacific is likely to witness an attractive growth rate in the upcoming years since the regional manufacturers are focusing on developing low-cost devices with higher efficiency. Additionally, the leading market players are investing in local companies to lower their costs of labor and raw materials.

Some leading players in hearing aids market include Horentek, MED-EL, Audina Hearing Instruments, Microson, SeboTek Hearing Systems, Sonova, RION, Arphi Electronics, Siemens AG, and Widex A/S.

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FrequentlyAsked Questions

Growing incidences of hearing loss, surge in aging populace, and technological breakthroughs will prompt the expansion of hearing aids industry over the forthcoming years. In addition to this, massive utilization of lithium-ion batteries in the hearing aids will further drive the market trends. With the launching of 3D printing systems in hearing aid production, the market for hearing aids is likely to gain traction over the forthcoming years. Nonetheless, hearing aids can lead to problems like moisture & ear wax problems, faulty feedback, and not best-fit size for an individual or one-size fits all problems. All these aspects can impede the market growth over the ensuing years.

According to Zion market research report, the global Hearing Aids Market, which was estimated at 6.32 (USD Billion) in 2017 and is predicted to accrue earnings worth 9.17 (USD Billion) by 2024, is set to record a CAGR of nearly 5.45% over 2018-2024.

Europe is likely to make noteworthy contributions towards overall market revenue. The regional market growth over 2018-2024 can be credited to to increment in the cases of auditory loss along with the massive awareness about the various kinds of hearing loss therapies resulting in acceptance of hearing aids in the region. Apart from this, surge in the occurrence of deafness in the European countries will prompt the market penetration in the region. In addition to this, thriving audiology equipment business in the continent will further translate into huge market demand over the foreseeable future. Additionally, inflating geriatric population in Europe that is prone to hearing problems will further drive the regional market trends.

The key players profiled in the report include RION, Horentek, Siemens AG, MED-EL, SeboTek Hearing Systems, Audina Hearing Instruments, Microson, Arphi Electronics, Sonova, and Widex A/S.

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