Press release
Global hearing aid market Industry is Gigantic to Grow at a high CAGR of 7.0 % during 2019-2025
Global hearing aid market to reach USD 12.1 billion by 2025.
Global hearing aid market is valued at approximately USD 7.0 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 7.0 % over the forecast period 2018-2025. Key trends for the global hearing aids market are technological advancements such as noise reduction circuits, wireless and bluetooth technology and feedback reduction, aesthetically appealing miniature devices. Moreover, factors such rising genetic factors, noise pollution levels, birth complications and ear infections are also expected to supplement the growth the hearing aid market across the globe.
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Global hearing aid market is significantly driven by the rising aging population. For instance: according to the Population Reference Bureau, in United States people aged 65 years or above in 2016 were around 46 million which is projected to get double near approx. 98 million by 2060. However, the geriatric population rate will rise from 15 % to nearly around 24 % by 2060. Thus, rapid increase in geriatric population would increase the demand for hearing aid devices owing to gradual hearing loss thereby, supplementing the growth of the hearing aid market over the forecast period. However, low penetration rate of hearing aid is expected to hinder the growth of the market during the forecast period.
The report is filled with statistical presentations, market figures related to revenue, volume, CAGR, and share, and global and regional market forecasts.
Major players profiled in the report:
• Sonova
• Cochlear
• Widex
• Zound Hearing
• Med-EI
• Rion
• Sebotek Hearing systems
• Audina Hearing Systems
• Starkey
• Sivantos
The regional analysis of hearing aid market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America holds the leading position in Hearing aid market owing to the growing number of people suffering from hearing losses along with increasing geriatric population. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share.
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Based on segmentation, the hearing aid market is segmented into product, type of hearing loss and type of patients.
By Product
• Hearing Aid Devices:
• Receiver-In-The-Ear Hearing Aids
• Behind-The-Ear Hearing Aids
• Canal Hearing Aids
• In-The-Ear (ITE) Hearing Aids
• Other Hearing Aid Devices
Hearing Implants:
• Bone-anchored systems
• Cochlear Implants
By Type of hearing loss:
• Conductive Hearing Loss
• Sensorineural Hearing Loss
By Type of Patient:
• Adults
• Pediatrics
By Regions:
• North America
• Europe
• Asia Pacific
• LAMEA
• ROW
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In this study, the years considered to estimate the market size of Global Hearing aid are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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