Market Research Report
Global Hearing Aids Market
|Published by||Progressive Markets Research||Product code||661268|
|Published||Content info||120 Pages
Delivery time: 1-2 business days
|Global Hearing Aids Market|
|Published: June 1, 2018||Content info: 120 Pages||
The hearing aids market accounted for $4,997 million in 2017 and is expected to reach $8,021 million by 2025, registering a CAGR of 6.0% from 2018 to 2025.
Hearing aids are sound-amplifying devices that are designed to help people suffering from hearing disorders. Most hearing aids are made of several electronic components such as a microphone, amplifier circuitry, a miniature loudspeaker (receiver), and batteries. In some hearing aids, earmolds or earpieces are used to enhance sound quality and direct the flow of sound into the ear. The use of hearing aids differs based on type and severity of hearing loss, listening needs, and changing lifestyle.
Technological advancements in hearing aids and rise in binaural fitting rate drive the hearing aids market. In addition, the high prevalence of hearing loss and the increase in geriatric population are also projected to supplement the market growth. However, the cost restraints associated with hearing aids coupled with the lack of awareness regarding the availability of advanced hearing aids are projected to hamper the growth of the hearing aids market.
Based on products, the hearing aids market is categorized into receiver-in-the-ear (RITE) hearing aid, behind-the-ear (BTE) hearing aid, canal hearing aid, in-the-ear (ITE) hearing aid, and other hearing aid devices. Based on technology, the market is bifurcated into digital hearing aid and analog hearing aid. Based on age group, the market is divided into 0-17 years, 18-44 years, 45-64 years, and 65 years & above. Based on type of hearing loss, the market is bifurcated into sensorineural hearing loss and conductive hearing loss. Based on geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global hearing aids market include: GN Store Nord A/S, Sonova, IntriCon Corporation, American Hearing Aids, Amplifon, Sivantos Pte. Ltd., Cochlear Ltd., MED-EL, Starkey, and William Demant Holding A/S.