Hearing aids market dominated by big players like Sonova (Switzerland), William Demant (Denmark), and GN Store Nord (Denmark) with the presence of several small players as well. Some of hearing aids market players operating include Cochlear (Australia), Starkey (US), Widex (Denmark), MED-EL (Austria), SeboTek Hearing Systems (US), Audina Hearing Instruments (US), RION (Japan), Horentek (Italy), Microson (Spain), and Arphi Electronics (India).
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Global hearing aids market is projected to reach USD 9.78 Billion by 2022 from USD 6.97 Billion in 2017, at a CAGR of 7.0%. Factors such as high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids are driving the global market.
Based on product, the market is segmented into hearing aid devices and hearing implants.
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The hearing aid devices segment is expected to account for the largest share of the global market in 2017.
Target Audience for this Report:
- Hearing aid manufacturers
- Healthcare institutions (hospitals and clinics)
- Hearing aid service providers
- Research institutions
- Research and consulting firms
- Audiology centers
The report provides an overview of the hearing aids market. It aims at estimating the market size and future growth potential of this market across different segments such as product, type of hearing loss, patient type, and region.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
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The hearing aids market is segmented into sensor neural hearing loss and conductive hearing loss. The sensor neural hearing loss segment (SNHL) is expected to dominate this market, due to high prevalence of SNHL and increasing initiatives by companies and regulatory authorities to develop hearing aid devices for SNHL treatment.
Hearing Aids Market, by Product
- Hearing Aid Devices
- Receiver-In-The-Ear (RITE) Hearing Aids
- Behind-The-Ear (BTE) Hearing Aids
- Canal Hearing Aids
- In-The-Ear (ITE) Hearing Aids
- Other Hearing Aid Devices
- Hearing Implants
- Cochlear Implants
- Bone-anchored Systems
Hearing aids market is segmented into adult patients and pediatric patients. The adult patient segment is expected to account for the largest share and is projected to register the highest CAGR due to the high prevalence of hearing loss in the adult population due to ageing.
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Geographical analysis of Hearing Aids Market
Asia is expected to register the highest CAGR during forecast period. High growth in this market is attributed to high prevalence of hearing loss, availability of technologically advanced hearing aids, growth in aging population, and increasing initiatives by companies to expand in these emerging economies.
Key Benefits of Getting the Report:
- The report will help market leaders/new entrants in this market by providing them with the closest approximations of revenues for the overall hearing aids market and its subsegments.
- This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies make suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.
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