Hearing Aids Market to Reach $ 6 Billion By 2025 | Sivantos Pte. Ltd., Sonova Holding AG, William Demant Holdings A/S, Starkey, and GN Store Nord A/S.

A Hearing Aids also widely recognized as deaf aid, is a little electronic gadget that can be worn either inside or behind the ear depending upon the structure of the model. It is an advanced gadget which enhances the hearing capacity of an individual experiencing hearing loss. The hearing aid has three prime parts, namely, an amplifier, a microphone and a speaker. There are various kinds of hearing aids with different shapes, functions and sizes. Currently, there are several options and styles available for the hearing aids suited for every individual according to their comfort and the severity of the deafness.

A Research Study Titled, “Hearing Aids Market by Product Type and Technology – Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the hearing aids market is projected to be around $6 billion by 2025.

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Some of the major companies operating in the hearing aids market include Sivantos Pte. Ltd., Sonova Holding AG, William Demant Holdings A/S, Starkey, and GN Store Nord A/S.
Hearing impairment is the most frequent sensory deficit in humans, affecting more than 250 million individuals worldwide. It is becoming a severe social and health problem in the elderly population. This is leading to impaired exchange of information due to hearing loss, causing loneliness, dependence, and frustration, as well as communication disorders, thus significantly impacting everyday life of the elderly. As per National Institute on Deafness and Other Communication Disorders (NIDCD), around 37.5 million American adults aged 18 years and above suffer from hearing impairment. Hence, growing geriatric population base is propelling the need for hearing aids, as this age group of people is more prone towards developing hearing disorders. The growth of hearing aids market can also be attributed to technological advancements in the hearing aids such as enhanced listening, better connectivity,and miniaturization with high efficiency of the product.

Behind-the-ear hearing aids segment occupied for almost half of the global market in 2016. These hearing aids are used for the treatment of all types of hearing losses ranging from mild to profound and they are available in different styles ranging from Miniature-BTEs to the larger SuperPower instruments. Additionally, these aids provide multiple directional microphones for better understanding of speech in noisy situations.

Digital hearing aids have quickly substituted analog devices while dominating today’s hearing aids market. This segment accounted for more than three-fourth of the overall market in 2016. These hearing aids facilitate more complex processing of sound during the amplification process for improving their performance in certain situations, for instance, background noise.

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Europe held a major share of more than one-third of the overall market in 2016. This is primarily attributed to a number of factors such as the rising incidence of hearing disorders and deafness coupled with the rapidly aging population, increased adoption of technologically advanced hearing solutions, and growing purchasing power of the patients. Asia Pacific is expected to witness lucrative market growth over the forecast period, due to the availability of untapped and unsaturated markets coupled with rising demand for hearing aids. Rapid economic development along with increasing patient awareness levels is a major avenue for the companies in the hearing aids industry.

Hearing Aids Market, By Region:

North America - U.S, Canada, Mexico

Europe - Germany, France, UK, Italy, Spain, Rest of Europe

Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific

Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

Regional Outlook and Trend Analysis:

In 2016, Europe held the major share of the global hearing aids market, due to increasing prevalence of hearing disorders in the region along with rise in geriatric population. Asia-Pacific is expected to be the fastest growing market during the forecast period, due to developing healthcare infrastructure and increasing awareness among the patients.

How it works?

Keeping in mind the end goal to empower the hearing limit with respect to a person with hearing loss, the amplifier empowers a portion of the sounds louder than regular; and subsequently giving the individual a chance to convey and take an interest in the everyday exercises easily. By making use of a hearing aid the person will be able to hear in quiet as well as noisy environments. The microphone assist in receiving and adapting, which at that point changes over from sound waves to electrical signals and transmits them to the amplifier. An amplifier enhances the energy of the electric signals and with the assistance of the speaker then transmits them to the ear.

Hearing Aids Market, ToC:

1. Introduction
2. Executive Summary
3. Market Overview
4. Hearing Aids Market, By Product
5. Hearing Aids Market, By Technology
6. Hearing Aids Market, By Region
7. Company Profiles
...
*You can glance through the list of Tables and Figures when you view the sample copy of Hearing Aids Market.

FEATURES OF THE REPORT:

1. The analysis of Hearing Aids market, their Growth, Demand, position, size and share from different regions are mentioned in detailed.

2. The key players in the market and their share in the global market are discussed.

3. The new strategic plan and suggestions that will help old as well as new market players to maintain the competitiveness are also discussed.

4. The Hearing Aids market report provides some important points related to growth factors, challenges, opportunities, end-user analysis and achievement and so on.

5. The latest trends that are being followed in the market are included along with an example.

6. How technological advancement and research, as well as development activities, are impacting the market is explained in detail.

7. The development plans and policies are discussed as well as manufacturing processes and cost structures too are discussed.

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As the report further, it explains developing plans and policies, making processes, cost structures of Hearing Aids market as well as the leading players. It also concentrates on the aspects like company profile, product images, supply chain relationship, import/export details of Hearing Aids market, market statistics of Hearing Aids market, upcoming development plans, market gains, contact details, consumption ratio. Ultimately, the report includes an in-depth analysis of sub-segments, market dynamics, feasibility study, key strategies used by leading players, market share study and growth prospects of the industry. The report also evaluates the growth established by the market during the forecast period and research conclusions are offered.

TO BE CONTINUED…

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