Asia-pacific Hearing Aids Market Forecast 2022-2030

Asia-pacific Hearing Aids Market Forecast 2022-2030

KEY FINDINGS

The Asia-Pacific hearing aids market is projected to rise with a CAGR of 7.39% during the estimated years of 2022 to 2030. The region’s market growth is driven by factors such as the surging incidence of hearing loss among the adult as well as pediatric population, the initiatives undertaken by major vendors in terms of spreading awareness about hearing aids, and the significant development in emerging countries’ growth domestic product (GDP).

MARKET INSIGHTS

The Asia-Pacific hearing aids market growth study covers the study of China, Singapore, South Korea, India, Japan, Indonesia, Taiwan, Australia & New Zealand, and Rest of Asia-Pacific. Although hearing impairment is a serious problem in India, the condition is grossly neglected. According to the data issued by the World Health Organization (WHO), the incidence of hearing impairment (HI) in the country was approximately 6.3%, representing 63 million people with auditory loss. Moreover, the estimated prevalence of childhood-onset deafness was 2%, and adult-onset deafness was 7.6% in India.

In comparison, as per the report titled, ‘World Ageing Population’ (2019), approximately 15.9% of the total population in Australia was aged 65 and above, and this percentage is expected to rise to over 22% in 2050. The country’s elderly populace is set to surge over the upcoming years, thus further increasing the burden of hearing impairment as well as bolstering the demand for hearing aids. Therefore, the aforementioned factors are expected to propel the Asia-Pacific hearing aids market growth during the forecasted years.

COMPETITIVE INSIGHTS

The top firms operating in the market are Sonova, Siemens AG, Rion Co Ltd, Arphi Electronics Pvt Ltd, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments