Hearing Aids Market (By Type: Behind-the-ear, Canal, Others; By Technology: Digital, Analog, Others; By End User: Hospitals, Clinics, Individuals, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global hearing aids market size is expected to reach around US$ 13.54 Bn by 2026 and growing at a CAGR of around 6.9% over the forecast period 2019 to 2026.

A hearing aid is a small electronic device that you wear in or behind your ear. It makes some sounds louder so that a person with hearing loss can listen, communicate, and participate more fully in daily activities. A hearing aid can help people hear more in both quiet and noisy situations. However, only about one out of five people who would benefit from a hearing aid actually uses one.

A hearing aid has three basic parts: a microphone, amplifier, and speaker. The hearing aid receives sound through a microphone, which converts the sound waves to electrical signals and sends them to an amplifier. The amplifier increases the power of the signals and then sends them to the ear through a speaker.

Market Dynamics

The propelling factors for the growth of the global hearing aids market include the rising prevalence of hearing loss, technological advancements in hearing aids, the rise in world geriatric population and growing trend for customized implants. With the increasing ageing population, there has been a rising prevalence of hearing loss. in the united states, hearing loss is additional doubtless to be caused, due to genetic defects. In developing countries, preventable medical problems are typically the foremost factors for causing hearing loss, particularly infections, like German measles or syphilis, which might result in congenital hearing loss. Additionally, pregnancy complications additionally result in hearing loss in infants. Thus, the increasing incidences of hearing disorders and hearing loss problems among the population have led to the sales of a large variety of hearing devices in the market.

Growing noise pollution throughout the globe has additionally a major impact on the hearing abilities of individuals. Noise emission in serious duty industries, additionally as public carnivals, is predicted to wreck the hearing capability of adults, thereby resulting in the increase in the demand for hearing aids devices.

By technology type, digital devices segment are expected to dominate the hearing market

A digital device converts acoustic sound waves into digital form and facilitates exact duplication of sound. The digital signal is then reconverted to a processed analog acoustic signal tailored as per the listener’s demand. Computer chips in digital hearing aids facilitate analyze speech and different surrounding noise. Additionally, these products offer multiple program memories. These more options of those auditory aids are expected to drive its demand over the forecast amount.

Based on product type, Behind- the- ear is expected to dominate during the forecast period

Behind-the-earBTE segment dominated the market in 2018 and is predicted to witness a gradual growth over the forecast amount. BTE hearing aids consist of a small curved case that well fits behind the ear. Modification of these products is possible by connecting them to external sound sources, like infrared listening systems and auditory training equipment. Various BTE models are Bluetooth compatible and that they change higher wireless property, so driving the market. These devices also offer a better sound amplification owing to a powerful amplifier and an over sized battery. Moreover, behind-the-ear (BTE) devices are simple to handle and clean and are a lot of most well-liked by younger population as they'll match into numerous ear molds. Moreover, they don’t would like device replacement because the kid grows. With technological advances, new products like the mini BTE are developed, that are smaller in size and provide a lot of comfort. These factors are responsible for the expansion of those BTE products in the hearing aids market.It is also considered to be ideal for many of the people with hearing problems. BTE products, due to their wide range of applications and wider target patients, are expected to grow at a high rate over the forecast period.

The market research study on “Global Hearing Aids Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global hearing aids market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global hearing aids market, its market type, technology, end user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global hearing aids market size and volume, and segment markets by market type, technology, end user, and geography along with the information on companies operating in the market. The global hearing aids market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

In 2018, Europe dominated the regional market with a maximum market share

Europe accounted for the high market share of the global hearing aids market and the region is also expected to maintain its dominance over the forecast period.Some major factors contributing to this growth are, increase in the prevalence of deafness and rising awareness about technological advancements. Increase in prevalence of auditory loss and rise in awareness about technological advancements are the key factors driving the demand for these devices in Europe. Additionally, growth of the audiology devices market during this region depends on reimbursement policies of every European nation. According to the European Federation of exhausting of Hearing individuals, in 2015, regarding 51 million individuals suffer from deafness within the European Community. This expected to increase the demand in the domestic market during the forecast period.

The key companies involved in the market includes Phonak, Benson Hearing, GN Store Nord A/S, Starkey, MED-EL, William Demant Holding A/S, Medtronic, Widex USA, Inc., and SivantosPte LTD.

Market Segmentation

Market By Type

• Behind-the-ear
• Canal
• Others

Market By Technology

• Digital
• Analog
• Others

Market By End User

• Hospitals
• Clinics
• Individuals
• Others

Market By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa