New Research Study on Digital Hearing Aids Market to Grow at 5.4% CAGR by 2024: Cochlear, GN Store Nord, MED-EL, Sonova Group, Starkey Hearing Technologies, Hansaton Akustik GmbH, Unitron Global, William Demant, Medtronic
The Digital Hearing Aids Market accounted to USD 6.0 billion growing at a CAGR of 5.4% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Key Strategies of leading players
• Enhance productivity and optimizing back end manufacturing processes
• Product enhancement through integrating new strategies involving big data, advanced analytics into traditional manufacturing processes
• Growing businesses through serving into new application areas and identifying pockets of growth in emerging markets
• Focusing on cost effective production of devices with stability and robustness
• Strategies for Product differentiation and adjusting to the life cycle changes
• Strengthening collaboration with suppliers and distributors
• More focused strategies are found in the report
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The hearing aid devices are the medical devices that help the people suffering from disabling hearing impairment. These devices come in various forms which can be worn behind the ear or in the ear. Hearing aids are sound-amplifying devices designed to aid people who have a hearing impairment.
Major Market Competitors: Global Digital Hearing Aids Market
Some of the major players operating in digital hearing aids market are Cochlear Ltd., GN Store Nord A/S, MED-EL, SeboTek Hearing Systems, LLC, Siemens AG, Sonova, Starkey, Hansaton Akustik GmbH, Unitron, William Demant Holding A/S, WIDEX USA, INC., Zounds Hearing, Medtronic, GN Hearing A/S, Benson Medical Instruments, MicroTech, Amplifon, Beltone, COSELGI, Elkon Pvt. Ltd., Audio Controle Inc., General Hearing Instruments, Inc., Interton, Magnatone Hearing Aid Corporation, Puretone Ltd., RION Co., Ltd. and Entific among others.
Major Market Drivers & Restraints:
• Rising initiatives by various governments
• Raise awareness about hearing loss treatments
• Rapid growth in aging population
• Technological advancements in the hearing aid devices
• Social stigma associated with the hearing aid devices
• High price of hearing aids
• Unfavorable reimbursement policies
Market Segmentation: Global Digital Hearing Aids Market
• The digital hearing aids market is segmented by product into Hearing AID Devices and Hearing Implants. Hearing AID Devices is sub segmented into receiver-in-the-ear (RITE) hearing AIDS, behind-the-ear (BTE) hearing AIDS, canal hearing AIDS, in-the-ear (ITE) hearing AIDS and others.
• On the basis of technology type the market is segmented into digital and analog hearing AID.
• On the basis of type of hearing loss the market is segmented into sensorineural and conductive
• By end user the market is segmented into adults and pediatrics.
• On the basis of geography, digital hearing aids market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Company Share Analysis:
The digital hearing aids market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of digital hearing aids market for global, Europe, North America, Asia Pacific and South America.
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This report includes the estimation of market size for value (million US$) and volume (K MT). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Digital Hearing Aids market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
Reasons for Buying this Report
• This report provides pin-point analysis for changing competitive dynamics
• It provides a forward looking perspective on different factors driving or restraining market growth
• It provides a 6 year forecast assessed on the basis of how the market is predicted to grow
• It helps in understanding the key product segments and their future
• It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
• It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
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Customization: We can offer customization in the report and get research data or trends added in the report as per the buyer's specific needs.
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