Hearing Aids Market by Product (Receiver In The Ear, Behind The Ear, In The Ear, In The Canal Hearing Aids, Cochlear Implant, BAHA implant), Types of Hearing Loss (Sensorineural, Conductive Hearing loss) & Patient (Adult, Pediatric) - Forecast to 2022

Published: November 2017
No. of Pages: 186

“Global hearing aids market projected to grow at a CAGR of 7.0%”

The hearing aids market is expected to reach USD 9.78 billion by 2022 from USD 6.97 billion in 2017, at a CAGR of 7.0%.The high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids are driving the growth of this market. On the other hand, market growth may be hindered due to the high cost of hearing aids and the low penetration of these devices.

“Hearing aid devices to dominate the market during the forecast period”

By product, the hearing aids market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment is expected to hold the largest share of the market in 2017, while the hearing implants segment is projected to register the highest CAGR during the forecast period. Increase in approval from the government agencies for hearing implants is the key factor driving the growth of this segment.

“Sensor neural hearing loss segment to hold the largest share of the market in 2017”

Based on type of hearing loss, the hearing aids market is segmented into sensor neural hearing loss and conductive hearing loss. The sensor neural hearing loss segment (SNHL) is expected to dominate this market, due to high prevalence of SNHL and increasing initiatives by companies and regulatory authorities to develop hearing aid devices for SNHL treatment.

“Adult patients segment to witness high growth during the forecast period”

Based on patient type, the hearing aids market is segmented into adult patients and pediatric patients. The adult patient segment is expected to account for the largest share and is projected to register the highest CAGR due to the high prevalence of hearing loss in the adult population due to ageing.

“Asia to witness high growth during the forecast period”

In 2017, Europe is expected to account for the largest share of the market followed by North America. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to high prevalence of hearing loss, availability of technologically advanced hearing aids, growth in the aging population, and increasing initiatives by companies to expand in these emerging economies.

The primary interviews conducted for this report can be categorized as follows:

  • By Company Type: Tier 1 – 33%; Tier 2 - 45%; Tier 3 - 22%.
  • By Designation: C-level- 22%; D-level- 28%; Others- 50%.
  • By Region: North America-48%; Europe-21%;Asia-26%; RoW-5%.

List of companies profiled in the report

  • Sonova (Switzerland)
  • William Demant (Denmark)
  • GN Store Nord (Denmark)
  • Cochlear (Australia)
  • Sivantos (Singapore)
  • Starkey (US)
  • Widex (Denmark)
  • Med-El (Austria)
  • Zounds Hearing (US)
  • Sebotek Hearing Systems (US)
  • Audina Hearing Instruments (US)
  • Rion (Japan)
  • Horentek (Italy)
  • Microson (Spain)
  • Arphi Electronics (India)

Research Coverage:

The report provides an overview of the hearing aids market. It aims at estimating the market size and future growth potential of this market across different segments such as product, type of hearing loss, patient type, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:

  • The report will help market leaders/new entrants in this market by providing them with the closest approximations of revenues for the overall hearing aids market and its subsegments.
  • This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies make suitable go-to-market strategies.
  • The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.

Published By: MarketsandMarkets
Product Code: MarketsandMarkets2952

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