North America Hearing Aids Market Forecast 2022-2030
KEY FINDINGS
The North America hearing aids market is predicted to grow with a CAGR of 6.17% over the forecast years of 2022 to 2030. The regional market’s growth is facilitated by the presence of a significant pool of patient population, the increase in technological advancements influencing a higher uptake of easy-to-use medical devices, as well as innovative products’ extensive reach.
MARKET INSIGHTS
The North America hearing aids market growth assessment entails the evaluation of Canada and the United States. The market growth in Canada is mainly attributed to the increasing burden of hearing loss and innovative product launches. According to the statistics issued in 2019, hearing loss steadily ranks among the top leading causes of years lived with a disability in the country. Besides, a projected 19% of adults, representing 4.6 million individuals, have at least mild hearing loss, particularly in the speech-frequency range. However, the same source revealed that several Canadians are unaware that they experienced a certain level of hearing loss. Conversely, on the basis of audiometric testing, a projected 54% of Canadians aged 40 to 79 suffer from at least mild hearing loss within the high-frequency range.
On the other hand, Starkey, in September 2020, expanded its Livio Edge AI’s leading line of hearing aids. The launch entails the introduction of the smallest and most powerful rechargeable BTE, with a unique speech improvement feature. It enables hearing aid wearers to utilize their listening devices in order to look for their smartphones. As a result, these factors are set to reinforce the North America hearing aids market growth.
COMPETITIVE INSIGHTS
Some of the top companies operating in the market are Amplifon, Audina Hearing Instruments Inc, Zounds Hearing Aids, 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. Advancements In Technology
- 3.1.2. Prevalence Of Disabling Hearing Loss
- 3.1.3. 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. 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
- 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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