The report “Hearing aids industry” provides information on price trend of key raw materials, proportion of manufacturing cost structure, sourcing strategy and downstream buyers & this 178 pages report added to Orbis research database. The market Estimated to to reach USD 8.5 billion by 2021.
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The research study on “Hearing Aids Market By Hearing Loss By Product, By End -User And By Region-Global Industry Analysis, Size, Share, Growth, Trends And Forecasts (2016-2021)” gives you the information on Top players, Regions, Types, Applications & Forecasts to 2021.
The Global Hearing Aids Market size was around USD 6.23 billion in 2016. It is expected to grow at a CAGR of 6.4% to reach USD 8.5 billion by 2021.Hearing loss is a partial or total inability to hear.
Hearing aids are sound-amplifying devices designed to aid people who have a hearing impairment.
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Nearly all hearing aids share numerous close to similar electronic components, including a microphone which picks up sound along with an amplifier circuitry for enhancing the sound, a miniature loudspeaker (receiver) which delivers the amplified sound into the ear canal and lastly batteries which power the electronic parts.
Apart from the obvious factor of growing incidences, the development of the global hearing aids market is also affected by factors for example, increasing noise pollutions levels, High decibel exposure, and Digital enhancement of hearing aids. The rising noise pollution worldwide has had a major impact on the hearing ability of adults.
Noise emission in heavy duty industries along with public carnivals is likely to damage the hearing capacity of adults, thus resulting into rise in demand for hearing aids.
Moreover, people working in high-decibel ergonomic environments for example, airports or ordnance factories are estimated to suffer from hearing loss due to overexposure. The demand for hearing aids is also greater among construction worker, due to the loud drilling and dismantling work.
The most recent factor fuelling the development of enhanced hearing aids is the adding of headphone, Bluetooth, noise cancellation and several other digital functions in the existing hearing devices. Such technological advancements have increased the demand for expensive hearing aids with additional features.
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However, the factors that inhibit the growth of the global hearing aids market include poor Diagnosis methods, product deficits, and uncomfortable buzzing and amplification. The low battery life of hearing aids is one of the major limitations to the demand of existing products.
On the basis of products, the hearing aids market is segmented into hearing implants and hearing aid devices. The hearing aid devices category is likely to command the largest share of the market in 2016.
Growing technological advancements and regulatory approvals will fuel the development of this market segment. If we go by type of hearing loss, the market is categorized into sensorineural and conductive.
The sensorineural category is estimated to command the largest share of this market. Growth in this category is due to the high prevalence of hearing loss.
On the basis of end-users, the hearing aids market is categorized into adult and paediatric. The adult category is estimated to command the largest share of the market in 2016.
Rising aging population will propel the growth of this market.
The major key players in this market include:
- GN Store Nord A/S (Denmark)
- Cochlear Limited (Australia)
- MED-EL (Austria), SeboTek Hearing Systems
- Starkey Hearing Technologies
- Inc. (U.S.), Widex (Denmark)
- William Demant Holding A/S (Denmark)
- LLC (U.S.)
- Sivantos Pte. Ltd.
- Sonova (Switzerland)
- Zounds Hearing, Inc. (U.S.).
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On the basis of geography the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Europe will continue to lead the global market in the aforementioned forecast period.
But, Asia is projected to witness the highest CAGR, with the growth in this market centered at China and India.
Major Points from Table of Content:
- Introduction to Hearing Aids Market
- Research Methodology of Hearing Aids Industry
- Overview of Hearing Aids Market
- Drivers, Restraints, Opportunities, and Challenges Analysis (DROC) of Hearing Aids Market
- Market Segmentation of Hearing Aids Market
- Geographical Analysis of Hearing Aids Market
- Strategic Analysis of Hearing Aids Industry
- Market Leaders Analysis of Hearing Aids Market
- Competitive Landscape of Hearing Aids Industry
- Market Outlook and Investment Opportunities in Hearing Aids Industry
Points from List of Tables & Figures:
- Global Hearing Aids Market By Region, From 2016-2021 ( USD Billion )
- Global Hearing Aids Market By Products, From 2016-2021 ( USD Billion )
- Global Hearing Aid Devices Market By Region, From 2016-2021 ( USD Billion )
- Global Hearing Implants Market By Region, From 2016-2021 ( USD Billion )
- Global Hearing Aids Market By Type of Hearing Loss, From 2016-2021 ( USD Billion )
- Global Sensorineural Market By Region, From 2016-2021 ( USD Billion )
- Global Conductive Market By Region, From 2016-2021 ( USD Billion )
- Global Hearing Aids Market By End-user, From 2016-2021 ( USD Billion )
- Global Adult Market By Region, From 2016-2021 ( USD Billion )
- Global Pediatric Market By Region, From 2016-2021 ( USD Billion )
- North America Hearing Aids Market By Products, From 2016-2021 ( USD Billion )
- North America Hearing Aid Devices Market By Region, From 2016-2021 ( USD Billion )
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