Hearing aids market

Global Hearing Aids Market Size, by Technology (Digital, Analog), Type (In-The-Ear, Behind-The-Ear, Canal), Sales Channel (Retail, E-commerce), by End Use & Region - Key Manufacturers, Analysis, Growth Trends, and Forecast till 2026

Category: Medical Devices     ID: IRP1810     Date: Sep, 2020
The global hearing aids market was estimated to be valued at USD XX million in 2015 and is projected to reach USD XX million/billion by 2026, at a CAGR of XX% during 2019 to 2026. Scope of global hearing aids market includes by Technology (Digital, Analog), by Type (In-The-Ear, Behind-The-Ear, Canal), by Sales Channel (Retail, E-commerce), by End Use (Hospitals, ENT Clinics, Audiology Centers) and by region (North America- U.S., Canada; Europe- U.K., France, Germany; Asia-Pacific- China, Japan, India; Latin America- Brazil, Mexico; Middle East & Africa- South Africa, Saudi Arabia).
Hearing aids are the small, wearable electronic device which enable a person to hear sounds better and understand speech more clearly, and provide an overall improvement in communication ability. Hearing aids are available in a wide range of type, design, and technical feature, though all of them work in a similar way. Growing incidences of hearing loss due to chronic ear infections, excessive exposure to noise, and complications at the time of birth are the major factors which will boost the market growth over the coming years.
One of the major applications of hearing aids is in the healthcare industry, which is a key factor stimulating the hearing aids market growth over the forecast period. These devices are widely used by geriatric population, in order to overcome difficulties arising from hearing loss. Moreover, increase in the awareness of these devices for the treatment of deafness, due to which the demand of these devices are growing at a significant role across the world. In addition, the government along with local bodies are providing subsidies, grants, funds, and providing free care to patients in order to reduce deafness, which are the key factors in driving the hearing aids market growth all over the world. However, concerns regarding aesthetic appeal in young generation is expected to restrain the product market growth in coming years.
However, the increase awareness regarding the use of these devices, and increase in the adoption of these devices by large population are the major factors driving the market growth across the world. The highly developed countries such as U.S.A., Canada, have significant growth rate of market owing to rapid increase in the construction of hospitals, and the highly populated countries such as India, China are expected to have fastest growth in product market due to high population, and increase in adoption of hearing devices. Other factors like rise in the disposal income of people, and the key players of market have been introducing advanced products to meet all the requirements of consumers, are expected to boost the market growth across the globe.
The global hearing aids market is primarily segmented by technology, type, sales channel, end use and region.

In terms of technology, the market is split into:
* Digital
* Analog

In terms of type, the market is divided into:
* In-The-Ear
* Behind-The-Ear
* Canal

On the sales channel front, the market is segmented into:
* Retail
* E-commerce

In terms of end use, the market is divided into:
* Hospitals
* ENT Clinics
* Audiology Centers

The market is classified across regions and countries as follows:
* North America- U.S., Canada
* Europe- Russia, U.K., France, Germany, Italy
* Asia-Pacific- China, Japan, India, Australia
* Latin America- Brazil, Mexico
* Middle East & Africa- South Africa, Egypt, Saudi Arabia

Key Market Players:
The key players profiled in the market include:
* Benson Medical Instruments
* Cochlear Ltd.
* Nurotron Biotechnology Co. Ltd
* Sonova Holdings
* Sivantos Pte. Ltd..
* Widex USA, Inc
* William Demant
* Sound Life Inc
* Saimo Import & Export
* Hello Digital Hearing Aids Centre.
* GN Store Nord
* Phonak

These enterprises have been focusing on development strategies, such as expansions, new product launches, agreements & partnerships, and acquisitions to expand their business across the globe.
Key Benefits of the Report:
* Global, regional, country, technology, sales channel, end use and type market size and their forecast from 2015-2026
* Identification and detailed analysis and insights on key market dynamics, such as drivers, opportunities, restraints, and challenges influencing the growth of the market
* Detailed analysis and insights on industry outlook with market specific PESTLE analysis, Porter’s Five Forces analysis, and Value Chain analysis, to achieve a better understanding of the market and prepare expansion strategies
* Identification and comprehensive analysis of key market players and their market share, detailed financial positions, key products, core competencies, and unique selling points
* Identification and analysis of Key players’ competitive developments and strategic initiatives, such as mergers, joint ventures, sales contracts, and new product introduction in the market
* Expert interviews and their insights on current and future outlook, market shift, and factors impacting vendors’ short term and long term strategies
* Detailed insights on emerging regions, technology, sales channel, end use and type with qualitative and quantitative information and facts
* Identification of the key patents filed in the field of hearing aids
* Owing to the volatility seen in the market due to the Global COVID-19 pandemic, businesses around the globe wish to know the impact on their market and how this changes the projections for 2020 and the forthcoming years. Orian Research is in talks with seasoned market analysts and key note speakers to understand the impact of COVID 19 on markets and factors that will bring in stability in the foreseeable future

Target Audience:
* Hearing Aids manufacturer & Technology Providers
* Traders, Importers, and Exporters
* Raw Material Suppliers and Distributors
* Research and Consulting Firms
* Government and Research Organizations
* Associations and Industry Bodies

Research Methodology:
The market is derived through extensive use of secondary, primary, in-house research followed by expert validation and third party perspective, such as, analyst reports of investment banks. The secondary research is the primary base of our study wherein we conducted extensive data mining, referring to verified data sources, such as, white papers, government and regulatory published articles, technical journals, trade magazines, and paid data sources.
For forecasting, regional demand & supply factors, recent investments, market dynamics including technical growth scenario, consumer behavior, and end use trends and dynamics, and production capacity were taken into consideration. Different weightages have been assigned to these parameters and quantified their market impacts using the weighted average analysis to derive the market growth rate.

The market estimates and forecasts have been verified through exhaustive primary research with the Key Industry Participants (KIPs), which typically include:
* Manufacturers
* Suppliers
* Distributors
* Raw Material Providers
* Government Body & Associations
* Research Institutes

Project Analysis

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