Product Code: RP-ID-10076471 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10076471
Market Overview:
Global Hearing aid Market Size study, by Product (hearing aid devices and hearing implants) Type of Hearing Loss (conductive hearing loss and sensorineural hearing loss), Type of patient (adult and pediatric) and Regional Forecasts 2018-2025
Global hearing aid market to reach USD 12.1 billion by 2025.
Global hearing aid market is valued at approximately USD 7.0 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 7.0 % over the forecast period 2018-2025. Key trends for the global hearing aids market are technological advancements such as noise reduction circuits, wireless and bluetooth technology and feedback reduction, aesthetically appealing miniature devices. Moreover, factors such rising genetic factors, noise pollution levels, birth complications and ear infections are also expected to supplement the growth the hearing aid market across the globe.
Global hearing aid market is significantly driven by the rising aging population. For instance: according to the Population Reference Bureau, in United States people aged 65 years or above in 2016 were around 46 million which is projected to get double near approx. 98 million by 2060. However, the geriatric population rate will rise from 15 % to nearly around 24 % by 2060. Thus, rapid increase in geriatric population would increase the demand for hearing aid devices owing to gradual hearing loss thereby, supplementing the growth of the hearing aid market over the forecast period. However, low penetration rate of hearing aid is expected to hinder the growth of the market during the forecast period.
Based on segmentation, the hearing aid market is segmented into product, type of hearing loss and type of patients. The product segment of global hearing aid market is classified into hearing aid devices and hearing implants of which of hearing aid devices is expected to dominate the market owing to the growing acceptance of these devices among people having hearing loss. Based on type of hearing loss segment, the market is classified into conductive hearing loss and sensorineural hearing loss. The patient type segment is classified into adults and pediatrics of which adult segment is expected to hold largest share of global hearing aids market.
The regional analysis of hearing aid market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in Hearing aid market owing to the growing number of people suffering from hearing losses along with increasing geriatric population. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing rising awareness among the patients, increasing hearing-related problems, surge in the geriatric population and developing healthcare infrastructure and services due to rising government funding.
The leading market players include-
 Sonova
 Cochlear
 Widex
 Zound Hearing
 Med-EI
 Rion
 Sebotek Hearing systems
 Audina Hearing Systems
 Starkey
 Sivantos
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product
 Hearing Aid Devices
o Receiver-In-The-Ear Hearing Aids
o Behind-The-Ear Hearing Aids
o Canal Hearing Aids
o In-The-Ear (ITE) Hearing Aids
o Other Hearing Aid Devices
 Hearing Implants
o Bone-anchored systems
o Cochlear Implants
By Type of hearing loss:
 Conductive Hearing Loss
 Sensorineural Hearing Loss
By Type of Patient:
 Adults
 Pediatrics
By Regions:
 North America
o U.S.
o Canada
 Europe
o UK
o Germany
o ROE
 Asia Pacific
o China
o India
o Japan
o ROAPEC
 LAMEA
o Brazil
o Mexico
 ROW
o Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global hearing aid market in Market Study:
 Key Consulting Companies & Advisors
 Large, medium-sized, and small enterprises
 Venture capitalists
 Value-Added Resellers (VARs)
 Third-party knowledge providers
 Investment bankers
 Investors
Cochlear
Widex
Zound Hearing
Med-EI
Rion
Sebotek Hearing systems
Audina Hearing Systems
Starkey
Sivantos
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