Hearing Aid Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC447

Introduction

A hearing aid is a device mainly designed to enhance and improve hearing capabilities of people suffering from hearing ailments and hearing disorders. Hearing aids come under the category of medical devices and are regulated by various governmental regulations. Earlier, ear horns or ear trumpets were largely preferred as they involved passive amplification cones intended to gather sound energy to direct it into the ear drums. Modern hearing aids are generally computerized which are able to transform environmental sounds to more comfortable and intelligible levels. Modern hearing aids need specific configurations to match the hearing loss and physical features and depends from person to person. Devices such as cochlear implant and bone anchored hearing aid are similar to simple hearing aid devices.

Market Dynamics

Increasing incidences of hearing disorders among geriatric population has propelled the overall sale of accurate and effective hearing aid devices. Hearing disabilities among new born infants as well as war veterans is also an important concern. The demand for efficient hearing aid devices is gaining popularity and preference since untreated hearing loss may result in permanent impairment in speaking as well and may affect the overall psychological and academic abilities of the suffering infant. Moreover, since the global geriatric population is strongly susceptible to hearing damage, this population segment can crucially affect the personal relationships and social lives. Due to this, the global hearing aids market is anticipated to account for a significant growth and thus the global demand for hearing aid devices is expected to increase over the forecast period.

Since geriatric population is relatively more prone to evolve hearing disorders and impairments, the demand for hearing aid devices is directly affected by the geriatric demographic across the globe. Over the past few years, health awareness among patients concerning hearing impairment has witnessed a considerable increase. Also, recent technological advancements in hearing aids is a key factor driving the sales of hearing aid devices worldwide. In addition, the introduction of rechargeable hearing aids with quick charging features and with long lasting battery lives is also expected to augment the growth of global hearing aid market. Moreover, increasing prevalence of deafness, especially due to increase in levels of noise pollution, ear infections, genetic factors and birth complications is another key factor propelling the growth of global hearing aid market. Furthermore, increase in demand for aesthetically appealing miniature devices is anticipated to boost the growth of global hearing aid market.

Market Classification

The global hearing aid market can be segmented on the basis of product type, technology, end user, type of hearing loss and region. On the basis of product type, the global hearing aid market can be segmented into in the ear hearing aid, behind the ear hearing aid, receiver in the ear hearing aid, canal hearing aids and others. By technology, the global hearing aid market can be segmented into digital hearing aid and analog hearing aid. By type of hearing loss, the global hearing aid market can be segmented into sensorineural and conductive. On the basis of end user, the global hearing aid market can be segmented into adults and pediatrics. By region, the global hearing aid market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

Report Coverage

Market

Global Hearing Aid Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Product Type, Technology, End User, Type of Hearing Loss, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

Key players in the global hearing aid market are focusing on various market strategies such as mergers with established market players along with product launches and expansion of their operation facilities. Some of the players actively involved in the manufacturing of hearing aids include GN Store Nord A/S, SeboTek Hearing Systems, Sonova, WIdex, Cochlear Limited, MED-EL, William Demant Holding A/S, Zounds Hearing Inc. and Sivantos Pte Ltd. among others.

Market Segmentation

Market By Product Type

·         In the ear hearing aid

·         Behind the ear hearing aid

·         Receiver in the ear hearing aid

·         Canal hearing aids

·         Others

Market By Technology

·         Digital hearing aid

·         Analog hearing aid

Market By End User

·         Adults

·         Pediatrics

Market By Type of Hearing Loss

·         Sensorineural

·         Conductive

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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