Global Hearing Aid Market, By Product Type ((In-The-Ear, Receiver-In-The-Ear, Behind-The-Ear, Canal Hearing Aids ITC, Completely In Canal (CIC), Invisible-in-the-Canal (IIC), Cochlear Implants, Bone Anchored Systems), By Technology Type (Digital And Analog Hearing Aid), Hearing Loss (Sensorineural, Conductive), By End User (Adults, Pediatrics), By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
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Global Hearing Aid Market accounted to USD 6.0 billion in 2016 growing at a CAGR of 5.4% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Major market drivers and restraints:
- Rising initiatives by various governments
- Raise awareness about hearing loss treatments
- Technological advancements in the hearing aid devices
- Social stigma associated with the hearing aid devices
- Favourable reimbursement policies
Market Segmentation: Global Hearing Aid Market
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On the basis of product type the global hearing aid market is segmented into in-the-ear, receiver-in-the-ear, behind-the-ear, canal hearing aids ITC, completely in canal (CIC), invisible-in-the-canal (IIC), cochlear implants, and bone anchored systems.
On the basis of technology the market is segmented into digital and analog hearing aid.
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Based on hear loss the market is segmented into sensorineural and conductive.
Based on end-user the market is segmented into adults and pediatrics.
On the basis of geography, hearing aid market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
Major Market Competitors: Global Hearing Aid Market
Some of the major players operating in hearing aid market are Cochlear Ltd., GN Store Nord A/S, MED-EL, SeboTek Hearing Systems, LLC, Sivantos Pte. Ltd., Sonova, Starkey, Hansaton Akustik GmbH, Bernafon, Unitron, Phonak – A Sonova brand, oticon among others.
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