Global $10.5Bn Hearing Aid Market Outlook 2019-2024: Industry Trends, Share, Size, Growth & Opportunities - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 18, 2019--
The “Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024” report has been added to ResearchAndMarkets.com’s offering.
Key Questions Answered in this Report
The global hearing aid market size reached a value of US$ 7.4 Billion in 2018. Looking forward, the market is projected to reach a value of US$ 10.5 Billion by 2024, registering a CAGR of around 6% during 2019-2024.
The rising geriatric population across the globe is one of the key factors driving the growth of the market. Old age is often characterized by a gradual hearing loss, which increases the product demand from this section of the population. Furthermore, there has been a significant increase in the incidence of hearing disabilities among the masses. A significant number of cases, especially that of infants, remain untreated, which then results in various psychological and speaking disabilities.
Additionally, the introduction of aesthetically appealing designs, coupled with the launch of innovative product variations such as waterproof hearing aids, is also contributing to the market growth. The implementation of digital technology coupled with the introduction of products that integrate cochlear implant and hearing aid technology to overcome the high-frequency hearing loss is expected to further create a positive outlook for the market.
Other factors such as rising noise pollution levels, growing cases of birth complications and ear infections, increasing disposable income and enhanced focus on research and development (R&D) by manufacturers are also expected to drive the market growth.
Historical, Current and Future Market Trends
Market Breakup by Product Type
The market has been bifurcated on the basis of the type, which includes hearing devices and hearing implants, wherein hearing devices are the most popular product type, which has been further categorized as behind-the-ear (BTE), receiver-in-the ear (RITE), in-the-ear (ITE), canal hearing aids (CHA), and others.
Market Breakup by Hearing Loss
Based on the hearing loss, the market has been segmented into sensorineural and conductive hearing loss.
Market Breakup by Patient Type
On the basis of the patient type, the market has been segregated into adults and pediatrics. Currently, hearing aids are most commonly bought for adult patients.
Market Breakup by Technology Type
The report has analyzed the market according to the technology type, which mainly consists of analog and digital.
Market Breakup by End-User
Based on the end user, the market has been categorized as hospitals, ENT clinics and audiology centers, individual, and others.
Market Breakup by Region
On the geographical front, the market has been divided into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe represents the largest market for hearing aids, holding the majority of the total market share.
The report has also analyzed the competitive landscape of the market with some of the key players being Sonova Holding AG, Starkey, MED-EL, William Demant Holding A/S, Widex A/S, Sivantos Group, GN Store Nord A/S, Cochlear Ltd, SeboTek Hearing Systems LLC, ReSound Group, AGX Hearing, Audina Hearing Instruments, Lisound, Banglijian, Glaxosmithkline, Benson Hearing, etc.
Key Topics Covered
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Hearing Aid Market
5.1 Market Overview
5.2 Market Performance
5.3 Market Breakup by Product Type
5.4 Market Breakup by Hearing Loss
5.5 Market Breakup by Patient Type
5.6 Market Breakup by Technology Type
5.7 Market Breakup by End-User
5.8 Market Breakup by Region
5.9 Market Forecast
6 Market Breakup by Product Type
6.1 Hearing Devices
6.1.1 Market Trends
6.1.2 Major Types
220.127.116.11 Behind-the-Ear (BTE)
18.104.22.168 Receiver-in-the Ear (RITE)
22.214.171.124 In-the-Ear (ITE)
126.96.36.199 Canal Hearing Aids (CHA)
6.1.3 Market Forecast
6.2 Hearing Implants
6.2.1 Market Trends
6.2.2 Major Types
188.8.131.52 Cochlear Implants
184.108.40.206 BAHA Implants
6.2.3 Market Forecast
7 Market Breakup by Hearing Loss
7.1 Sensorineural Hearing Loss
7.2 Conductive Hearing Loss
8 Market Breakup by Patient Type
9 Market Breakup by Technology Type
10 Market Breakup by End-User
10.2 ENT Clinics and Audiology Centres
11 Market Breakup by Region
11.2 North America
11.3 Asia Pacific
11.4 Middle East and Africa
11.5 Latin America
12 SWOT Analysis
13 Value Chain Analysis
14 Porter’s Five Forces Analysis
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Sonova Holding AG
16.3.4 William Demant Holding A/S
16.3.5 Widex A/S
16.3.6 Sivantos Group
16.3.7 GN Store Nord A/S
16.3.8 Cochlear Ltd
16.3.9 SeboTek Hearing Systems LLC
16.3.10 ReSound Group
16.3.11 AGX Hearing
16.3.12 Audina Hearing Instruments
16.3.16 Benson Hearing
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PUB: 11/18/2019 04:57 AM/DISC: 11/18/2019 04:57 AM