The Global Hearing Aids Market Continues To Grow Owing To the Increasing Prevalence of Hearing Disabilities in the World
Market Overview:
The use of hearing aids in people with hearing loss has been in use for decades. These devices are classified as medical devices and are regulated by the respective regulations. In most countries, they are a legal requirement for people who have hearing loss. Hearing aids are typically worn in the ears and connected to a small plastic case. These devices are durable and generally contain most of their components in a small plastic case. In addition, they are lightweight and can be cleaned easily. Depending on the type of earpiece and hearing loss, users may find that some styles work better than others. Audiologists will be able to recommend the style that works best for the patient.
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Competitive Landscape:
Major players operating in the global hearing aids market include Foshan Vohom Technology Co., Ltd., audifon GmbH & Co. KG, Lively Hearing Corporation, Austar Hearing Science and Technology, Earlens Corporation, LORECa s.r.o., Nano Hearing Aids, BHM-Tech Produktionsgesellschaft mbH, IN4 Technology Corporation, Arphi Electronics Private Limited, SeboTek Hearing Systems, LLC., ZOUNDS Hearing Inc., Horentek, Eargo, Inc., WS Audiology A/S, Elkon Pvt. Ltd., Audina Hearing Instruments, Inc., MED-EL, Nurotron Biotechnology Co., Ltd., Starkey, RION Co., Ltd., Cochlear Ltd., GN Store Nord A/S, Demant A/S, and Sonova Group.
Key Market Drivers:
The increasing prevalence of hearing disabilities in the world is expected to create traction in the global hearing aids market. For instance, according to Down To Earth, currently, around 34 million children and 432 million adults in the world suffer from disabling hearing loss. Other types of hearing aids can help to understand conversations. The main part of a hearing aid is usually connected to an external computer and can be programmed by an audiologist. The second type is called in-the-canal hearing aids and is smaller than BTE hearing aids. An in-the-ear hearing instrument fits in the outer ear and has a small loudspeaker located inside. Increasing product launches by key market players are estimated to propel the growth of the global hearing aids market.
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Covid-19 Impact Analysis:
The emergence of the coronavirus pandemic has changed the demography of medical care globally. The growing burden owing to the increasing incidence of hospitalization of COVID-19 positive individuals has resulted in the re-profiling of several departments and hospitals in order to treat patients suffering from COVID-19 infections. Subsequently, several elective surgeries were delayed or canceled globally in order to redirect or reserve the available limited resources and capacities, which impacted the growth of the global hearing aids market.
Key Takeaways:
- The size of the global hearing aids market is assessed to increase at a CAGR of 6.4%, owing to the increasing prevalence of deafness in the world. For instance, according to reports by World Health Organization, more than 5% of the global population suffer from disabling hearing loss.
- North America is expected to dominate the growth of the global hearing aids market, owing to the increasing prevalence of deafness in the region. For instance, according to the National Institutes of Health (NIH), around 10,000,000 individuals in the US region are hard of hearing and around 1,000,000 are functionally deaf.
- The Asia Pacific is estimated to witness high growth in the global hearing aids market, owing to the increasing investments in the healthcare sector in the region. The expansion of key market players in the region is estimated to enhance the growth of the market.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Technology
- Market Snippet, By Product Type
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- Regulatory Landscape
- Product Recall
- Epidemiology Analysis
- Technology Overview
- PEST Analysis
- Porter’s Five Forces model
- Market Dynamics
- Global Hearing Aids Market, By Technology, 2019 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Conventional Hearing Aid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- Digital Hearing Aid
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- Introduction
- Global Hearing Aids Market, By Product Type, 2019 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Behind the Ear Hearing Aids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- Receiver in the Ear Hearing Aids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- In the Ear Hearing Aids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- Completely In the Ear Hearing Aids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- In the Canal Hearing Aids
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
- Introduction
- Global Hearing Aids Market, By Region, 2019 – 2027, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2019 and 2027 (%)
- Y-o-Y Growth Analysis, By Region, 2017 – 2026
- Regional Trends
- North America
- Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
- China
- Japan
- India
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Africa
- Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Country/Region, 2019 – 2027, (US$ Million)
- North Africa
- Central Africa
- South Africa
- Middle East
- Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
- Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
- GCC
- Israel
- Rest of Middle East
- Introduction
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