Hearing Aids Market to 2022 - Dominated by William Demant, Cochlear and Zounds Hearing (Global Forecast, Trends, Opportunity and Industry Analysis)

Study estimates hearing aids market size for 2017 and projects its demand till 2022. The global hearing aids market is projected to reach USD 9.78 Billion by 2022 from USD 6.97 Billion in 2017, at a CAGR of 7.0%. Report segments hearing aids market by product, type of hearing loss, patient type, and region. Based on product, market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment is expected to account for the largest share of the global market in 2017.

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The hearing aids market is segmented into sensor neural hearing loss and conductive hearing loss. The sensor neural hearing loss segment (SNHL) is expected to dominate this market, due to high prevalence of SNHL and increasing initiatives by companies and regulatory authorities to develop hearing aid devices for SNHL treatment.

Target Audience for this Report Hearing aid manufacturers, Healthcare institutions (hospitals and clinics), Hearing aid service providers, Research institutions, Research and consulting firms, and Audiology centers.

Europe is expected to account for the largest share of the market followed by North America. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to high prevalence of hearing loss, availability of technologically advanced hearing aids, growth in the aging population, and increasing initiatives by companies to expand in these emerging economies.

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The hearing aids market is dominated by big players such as Sonova (Switzerland), William Demant (Denmark), and GN Store Nord (Denmark) with the presence of several small players as well. Some of the players operating in this market include Cochlear (Australia), Starkey (US), Widex (Denmark), MED-EL (Austria), SeboTek Hearing Systems (US), Audina Hearing Instruments (US), RION (Japan), Horentek (Italy), Microson (Spain), and Arphi Electronics (India).

Report provides an overview of hearing aids market. It aims at estimating market size and future growth potential of this market across different segments such as product, type of hearing loss, patient type, and region. Furthermore, report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

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Asia is expected to register the highest CAGR during the forecast period. The high growth in this market is attributed to the high prevalence of hearing loss, availability of technologically advanced hearing aids, growth in the aging population, and increasing initiatives by companies to expand in these emerging economies. While the hearing aids market presents significant growth opportunities, market growth may be hindered due to the high cost of hearing aids and the low penetration of these devices.

Key Benefits of Buying the Report:
• The report will help market leaders/new entrants in this market by providing them with the closest approximations of revenues for the overall hearing aids market and its subsegments.
• This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies make suitable go-to-market strategies.
• The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.

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