Hearing Aid Market Share by Manufacturer, Size, Price Trends, Growth Rate and Forecast 2027 | Demant A/S, WS Audiology A/S, Widex A/S

November 10 14:45 2022
Hearing Aid Market Share by Manufacturer, Size, Price Trends, Growth Rate and Forecast 2027 | Demant A/S, WS Audiology A/S, Widex A/S
In addition to this, the increasing incidences of hearing disabilities among infants are also positively influencing the global market.

According to the latest report by IMARC Group, titled “Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global hearing aid market reached a value of US$ 6.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2027, exhibiting a CAGR of 6.47% during 2022-2027.

Hearing aid refers to small electronic devices powered by battery that aid in improving hearing abilities. They are of several types, such as behind-the-ear (BTE), in-the-ear (ITE), receiver-in-the Ear (RITE), canal hearing aids (CHA), cochlear implants, and others. These hearing aid devices amplify the sound vibration entering the ear and convert them into neural signals to allow individuals suffering from sensorineural orconductive hearing loss to communicate adequately and participate in daily activities. Consequently, they are extensively utilized in ENT clinics, hospitals, audiology centers, etc., across the globe.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/hearing-aid-market/requestsample

 Industry Trends:

The expanding geriatric population who are highly prone to suffer from age-related hearing loss or Presbycusis is primarily driving the hearing aid market. In addition to this, the increasing incidences of hearing disabilities among infants are also positively influencing the global market. Besides this, the introduction of new devices in aesthetically appealing designs and the launch of innovative waterproof product variants are acting as significant growth-inducing factors. In line with this, the growing integration of multiple smart and digital technologies in these devices, which include artificial intelligence (AI) and Bluetooth connectivity, and the development of new products that combine cochlear implant and hearing aid technology to help individuals overcome high-frequency hearing loss are further augmenting the market growth. Apart from this, the rising levels of noise pollution across countries, the escalating cases of birth complications and ear infections, and the inflating investments in research and development (R&D) activities by leading manufacturers are expected to bolster the hearing aid market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hearing aid market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, hearing loss, patient type, technology type and end-user.

Competitive Landscape:

  • Sonova Holding AG
  • Starkey Laboratories
  • MED-EL GmbH
  • Demant A/S
  • WS Audiology A/S
  • Widex A/S
  • Sivantos Group
  • GN Store Nord A/S
  • Cochlear Limited
  • SeboTek Hearing Systems LLC
  • ReSound Group (GN Hearing A/S)
  • AGX Hearing (Audigy Group)
  • Audina Hearing Instruments, Inc.
  • Lisound Hearing Aid (Fuzhou) Co., Ltd.
  • Banglijian
  • GlaxoSmithKline plc
  • Benson Hearing, etc

Breakup by Product Type:

  • Hearing Devices
    • Behind-the-Ear (BTE)
    • Receiver-in-the Ear (RITE)
    • In-the-Ear (ITE)
    • Canal Hearing Aids (CHA)
    • Others
  • Hearing Implants
    • Cochlear Implants
    • BAHA Implants

Breakup by Hearing Loss:

  • Sensorineural Hearing Loss
  • Conductive Hearing Loss

Breakup by Patient Type:

  • Adults
  • Pediatrics

Breakup by Technology Type:

  • Analog
  • Digital

Breakup by End-User:

  • Hospitals
  • ENT Clinics and Audiology Centres
  • Individual
  • Others

Breakup by Region:

  • Europe
  • North America
  • Asia Pacific
  • Middle East and Africa
  • Latin America

Access full report @ https://bit.ly/3v2lHlQ

Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                           

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Frequently Asked Questions (FAQs):

1.What is the expected growth rate of the global hearing aid market during 2022-2027?

Answer: We expect the global hearing aid market to exhibit a CAGR of 6.47% during 2022-2027.

2. What are the key factors driving the global hearing aid market?

Answer: The rising incidences of hearing disabilities, along with the growing availability of wide range of designs and customized hearing aid devices catering to diverse consumer requirements, are primarily driving the global hearing aid market.

3. What is the breakup of the global hearing aid market based on the end-user?

Answer: Based on the end-user, the global hearing aid market can be bifurcated into hospitals, ENT clinics and audiology centers, individual, and others. Among these, ENT clinics and audiology centers exhibit a clear dominance in the market.

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