Press release
Hearing Aids Market To Surpass $6,992.1 million by 2025: Top Key Players Widex, GN Store Nord, William Demant, Sivantos, Starkey, Zounds Hearing, Sebotek Hearing Systems, Benson Hearing, Microteck Systems and others.
Hearing Aids Market
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The hearing aid market is primarily driven by increasing incidences of hearing loss due caused due to increased noise pollution, rising geriatric population, and need for continuous technological advancement of the devices. Moreover, deafness due to ear infections, and birth complications also influence the growth of hearing aids market during the forecast period.
Behind the ear (BTE) hearing aid constitutes a major market share owning to its benefits like high efficiency, easy use, and better connectivity. However, canal hearing aids are estimated to grow at a higher rate due to the increased preference for invisible aids with better functions and connectivity.
Based on the patient type the hearing aids market is segment as adult patients and Pediatric patients. Adult patient hearing aid market anticipated higher growth during the forecast period. This growth is majorly attribute by increasing number of geriatric populations worldwide and increasing incidences of hearing loss.
Technologically, hearing aids market is segmented into digital hearing aids and analog hearing aids. Digital hearing aids holds major market share in hearing aids market and is estimated to grow at a faster rate in the forecast period. The growth of digital hearing aids is primarily driven by continuous technology advancements & innovations that provide wireless connectivity to all types of smartphones with improved listening experience in noisy environments.
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Europe holds a dominating position in the global hearing aids market which is followed by North America and Asia Pacific. The growth in the European hearing aids market is majorly driven by the increasing number of geriatric populations, increased prevalence of hearing loss, and availability of technological advanced hearing aids. However, high cost of the devices can impede the growth of hearing aid market in Europe.
Top Key Players in Global Market:
• Sonova
• Gn Store Nord
• William Demant Holding A/S
• Widex A/S
• Sivantos
• Starkey
• Zounds Hearing
• Sebotek Hearing Systems
• Benson Hearing
• Microteck Systems
• Medtronics
• Microscan.
Key Findings from the study suggest products available in the market are continuously concentrating on the technological advancements. Companies while developing new technology considers the factors such as increasing disposable income and increasing number of geriatric populations globally. Europe is presumed to dominate the global hearing aid market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.
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Key Segments:
Hearing Aid by Product Types
• Key Findings
• Behind-the-ear (BTE) hearing aids
• In-the-ear hearing aids
• Receiver-in-the-ear (RITE) hearing aids.
• Canal Hearing aidss ITC, CIC, and IIC
Hearing Aid by Technology Type
• Key Findings
• Digital Hearing Aid
• Analog Hearing Aid
Regions
• North America [U.S., Canada, Mexico]
• Europe [Germany, UK, France]
• Asia-Pacific [China, India, Japan, Rest of Asia-Pacific]
• Latin America [ Brazil, Mexico]
• Middle East and Africa
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
Contact us
Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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