Hearing Aids Market is anticipated to worth USD 8387 million by 2025, with a CAGR of 7.1% during 2019-2025
Published | 29 March 2019
According to BlueWeave
Consulting, the global Hearing Aids market is anticipated to worth USD 8387
million by 2025, with a CAGR of 7.1% during 2019-2025. The global Hearing Aids
market is propelling due to the increasing prevalence of hearing disorders &
hearing loss, the rising aging population, technological developments in
hearing care devices like wireless devices.
Growing noise pollution
throughout the world has also a significant impact on the hearing abilities of
people. Noise emission in heavy-duty industries, as well as public carnivals,
is expected to damage the hearing capacity of adults, thereby resulting in an
increase in the demand for hearing aids devices. Today, hearing disabilities
among infants and war veterans are one of the biggest concerns in the
healthcare sector.
Thus, there is a requisite
for improved hearing aid devices since several remain untreated, especially
among infants, which can further lead to speaking impairment and psychological
disabilities among them. Furthermore, technological developments related to the
products that combine cochlear implants, and hearing aid technology to overcome
the high-frequency hearing loss in patients, are also found creating new
opportunities for the players in the global hearing aids market.
Among
products, Behind the Ear Hearing Aids segment holds the largest market share of
the hearing aids market during the forecast period
On
the basis of product, the hearing aids market is segmented into
Behind the Ear, Receiver in the Ear, In the Ear, Canal Hearing Aids, and
Others. Behind the Ear Hearing Aids dominates the entire hearing aids market
during the forecast period due to the advantages associated with it like its
high efficiency, better connectivity, and ease of use. Penetration of the
internet is helping the development of e-commerce websites that sell hearing
devices to end-users. The hearing aids market is witnessing a surge in demand
for the products through on-line websites. The canal aids segment is estimated
to be the fastest growing product segment.
Europe
accounts for the lion’s share of the global hearing aids market during the
forecast period
Geographically,
the hearing aids market is analyzed across North America, Europe, Asia Pacific,
Middle East & Africa, and Latin America. Europe is the leading region of
overall hearing aids market due to the increasing geriatric population base,
the growing prevalence of hearing loss, and high purchasing power of the
patients. North America is the second leading region during the forecast
period. Asia-Pacific region is projected to experience the fastest growth rate
over the forecast period. Factors like high noise pollution levels, an upsurge
in the aging population, and increasing healthcare infrastructure.
Global
Hearing Aids Market: Competitive Landscape
Companies such as Sonova,
William Demant, GN Store Nord, Cochlear, Starkey, Widex, MED-EL, SeboTek
Hearing Systems, Audina Hearing Instruments, RION, Horentek, Microson, Benson
Hearing, ReSound, Siemens Healthcare GmbH, Widex A/S and Arphi Electronics are
the leading players of hearing aids market across the globe.
Browse Detailed Analysis
with TOC, “Global Hearing Aids Market by
Product (Behind the Ear, Receiver in the Ear, In the Ear, Canal Hearing Aids,
and Other), by Types of Hearing Loss (Sensorineural, and Conductive Hearing
loss), by Patient (Adult and Pediatric), by Technology Type (Digital and Analog
Hearing Aid), by Region (North America, Europe, Asia Pacific, Middle East &
Africa and Latin America), Trend Analysis, Competitive Market Share and
Forecast, 2015-2025”
At
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