The Global Hearing Aid Market was valued at USD 10.3 billion in the year 2020. The factors facilitating growth of the hearing aids market include the rising burden of hearing loss, technological advancements in hearing aids, rising awareness and initiatives related to hearing aid devices.
The Hearing Aid Market is also being driven by long-term socio-economic forces. Although population in developing countries are expected to grow the most, even developed countries with stable population will face growing proportion of elderly citizens, who are likely to experience hearing loss. These trends create commercial growth for Hearing Aid Market through a growing demand for hearing care.
The postponement of non-compulsory surgeries due to the surge in COVID-19 patients has resulted in a significant loss for the hearing aids industry. The demand for hearing aids has witnessed significant decline in 2020. Further, the reduced sales and production of hearing aid devices can considerably inhibit the market growth.
Among the different varieties of hearing aid available to the consumers, the market is heavily captured by behind the ear (BTE) type of hearing aids. Considering the economical price of these hearing aids, BTE devices are mostly sold in the developing and under-developed markets.
Key factors such as increasing adoption of Hearing Aid devices, growing awareness about technologically advanced devices for the treatment of deafness, and increasing prevalence of hearing loss due to the growing geriatric population will facilitate the demand of hearing aid devices in the future.
Scope of the Report
- The report presents the analysis of Global Hearing Aid Market for the historical period of 2016-2020 and the forecast period of 2021-2026.
- The report analyses the Hearing Aid Market by Hearing Devices (Behind the Ear, In the Ear (ITE), Receiver in the Ear Canal, In-the-canal (ITC) and completely-in-the-canal (CIC), Others).
- The report analyses the Hearing Aid Market by Type of Hearing Loss (Conductive, Sensorineural).
- The report analyses the Hearing Aid Market by Technology (Analog, Digital).
- The report analyses the Hearing Aid Market by Patient Type (Pediatric, Adult).
- The Global Hearing Aid Market has been analysed By Region (Americas, Europe, APAC, ROW).
- The Global Hearing Aid Market has been analysed By Country (United States, Canada, Brazil, United Kingdom, Germany, India, Japan, China).
- The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by hearing devices, by type of hearing loss, by technology, by patient type and by region.
- Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions, new product development and Policy and Regulatory Landscape. The companies analysed in the report: Sonova Holding AG, GN Store Nord A/S, Amplifon, Demant, Cochlear, WS Audiology A/S, Rion, Eargo, Starkey, Med-El
Key Target Audience
- Hearing Aid Manufacturers
- Healthcare and Pharmaceutical Companies
- Government Bodies & Regulating Authorities
- Consulting and Advisory Firms