Global Hearing Aids Market Forecast 2022-2030
KEY FINDINGS
The global hearing aids market is set to project a CAGR of 6.74% during the forecast years of 2022 to 2030. The market growth is mainly ascribed to the significant potential of hearing aids in developing economies, the incidence of disabling hearing loss, public awareness and initiatives associated with hearing loss, and technological advancements.
MARKET INSIGHTS
Hearing loss is a medical condition where a person’s ability to hear thresholds of 25 decibels (dB) is compromised. Different types of hearing loss are experienced by an individual, ranging from mild to severe hearing loss. Moreover, the condition is also one of the leading causes of the surging disease burden globally.
Public awareness, as well as initiatives pertaining to hearing loss, are largely introduced across the world for the improvement of healthcare, in addition to the early detection of hearing loss. For instance, the Australian Hearing Hub Members organized several public health initiatives and activities across the country. Similarly, as per the World Health Organization (WHO) report, on World Hearing Day 2018, in India, an ear awareness and screening camp was arranged at the Ministry of Health and Family Welfare, New Delhi, as a collective effort for sound hearing.
REGIONAL INSIGHTS
The global hearing aids market growth assessment comprises the evaluation of North America, Europe, Asia-Pacific, and Rest of World. The Asia-Pacific is set to grow with the highest CAGR over the forecasted years on account of key factors such as the rising incidence of hearing loss among the pediatric and adult population.
COMPETITIVE INSIGHTS
The intensity of industrial rivalry within the global hearing aids market is moderate. The prices of hearing aids are competitive, with companies exploring the possibilities of expansion in emerging markets through direct sales solutions. Furthermore, stable technological progressions are also fueling competition among existing players.
Some of the key companies operating in the market are Cochlear Ltd, Siemens AG, Sonova, 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
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Significant Potential For Hearing Aids In Emerging Economies
- 3.1.2. Advancements In Technology
- 3.1.3. Prevalence Of Disabling Hearing Loss
- 3.1.4. Public Awareness And Initiatives On Hearing Loss
- 3.2. Market Restraints
- 3.2.1. Existence Of Several Cost-effective Alternatives To Hearing Aid Devices
- 3.2.2. Low Hearing Aid Penetration Rates In Various Regions
- 3.2.3. Significant Cost Of Hearing Aids Devices
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Hearing Aids Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. New Entrants
- 4.3.4. Substitution
- 4.3.5. Industry Rivalry
- 4.4. Supply Chain Analysis
- 4.5. Key Buying Criteria
- 4.6. Regulatory Framework
- 4.7. Opportunity Matrix
- 4.8. Vendor Landscape
- 5. Market By Product
- 5.1. Hearing Aid Devices
- 5.1.1. Behind-the-ear (Bte)
- 5.1.2. In-the-canal (Itc) And Completely-in-the-canal (Cic)
- 5.1.3. In-the-ear (Ite)
- 5.1.4. Other Hearing Aid Devices
- 5.2. Hearing Implants
- 5.2.1. Cochlear Implants
- 5.2.2. Bone-anchored Systems
- 6. Market By Technology
- 6.1. Digital Hearing Aids
- 6.2. Conventional Hearing Aids
- 7. Market By Types Of Hearing Loss
- 7.1. Sensorineural Hearing Loss
- 7.2. Conductive Hearing Loss
- 8. Market By Patient Type
- 8.1. Adults
- 8.2. Pediatrics / Children
- 9. Market By Distribution Channel
- 9.1. Audiology And Ent Clinics
- 9.2. Pharmacies
- 9.3. Hospitals
- 10. Geographical Analysis
- 10.1. North America
- 10.1.1. Market Size & Estimates
- 10.1.2. Key Growth Enablers
- 10.1.3. Key Challenges
- 10.1.4. Key Players
- 10.1.5. Country Analysis
- 10.1.5.1. United States
- 10.1.5.2. Canada
- 10.2. Europe
- 10.2.1. Market Size & Estimates
- 10.2.2. Key Growth Enablers
- 10.2.3. Key Challenges
- 10.2.4. Key Players
- 10.2.5. Country Analysis
- 10.2.5.1. Germany
- 10.2.5.2. France
- 10.2.5.3. United Kingdom
- 10.2.5.4. Italy
- 10.2.5.5. Russia
- 10.2.5.6. Spain
- 10.2.5.7. Netherlands
- 10.2.5.8. Nordic Countries
- 10.2.5.9. Rest Of Europe
- 10.3. Asia-pacific
- 10.3.1. Market Size & Estimates
- 10.3.2. Key Growth Enablers
- 10.3.3. Key Challenges
- 10.3.4. Key Players
- 10.3.5. Country Analysis
- 10.3.5.1. China
- 10.3.5.2. Japan
- 10.3.5.3. India
- 10.3.5.4. Australia & New Zealand
- 10.3.5.5. South Korea
- 10.3.5.6. Taiwan
- 10.3.5.7. Indonesia
- 10.3.5.8. Singapore
- 10.3.5.9. Rest Of Asia-pacific
- 10.4. Rest Of World
- 10.4.1. Market Size & Estimates
- 10.4.2. Key Growth Enablers
- 10.4.3. Key Challenges
- 10.4.4. Key Players
- 10.4.5. Regional Analysis
- 10.4.5.1. Latin America
- 10.4.5.2. Middle East & Africa
- 11. Competitive Analysis
- 11.1. Key Strategic Developments
- 11.1.1. Mergers & Acquisitions
- 11.1.2. Product Launches & Developments
- 11.1.3. Partnerships & Agreements
- 11.1.4. Business Expansions, Announcements, And Divestitures
- 11.2. Company Profiles
- 11.2.1. Amplifon
- 11.2.2. Arphi Electronics Pvt Ltd
- 11.2.3. Audina Hearing Instruments Inc
- 11.2.4. Cochlear Ltd
- 11.2.5. Gn Store Nord A/S
- 11.2.6. Horentek
- 11.2.7. Med-el
- 11.2.8. Microson
- 11.2.9. Rion Co Ltd
- 11.2.10. Sebotek Hearing Systems Llc
- 11.2.11. Siemens Ag
- 11.2.12. Sonova
- 11.2.13. Starkey
- 11.2.14. William Demant
- 11.2.15. Zounds Hearing
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