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Hearing Aids Market Size, Value, Outlook, Growth, Trends and 2024 Forecast Analysis
2019 Research Report on Global Hearing Aids Market is a professional and comprehensive report on the Hearing Aids industry.#Download Free PDF Sample Brochure of report Global Hearing Aids Market 2019 across with 186 Pages and in-depth TOC Analysis @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=432785
Key Players: Sonova (Switzerland), William Demant (Denmark), GN Store Nord (Denmark), Cochlear (Australia), Sivantos (Singapore), Starkey (US), Widex (Denmark), Med-El (Austria), Zounds Hearing (US), Sebotek Hearing Systems (US), Audina Hearing Instruments (US), Rion (Japan), Horentek (Italy), Microson (Spain), Arphi Electronics (India).
“Global hearing aids market projected to grow at a CAGR of 7.0%”
The hearing aids market is expected to reach USD 9.78 billion by 2022 from USD 6.97 billion in 2017, at a CAGR of 7.0%.The high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids are driving the growth of this market. On the other hand, market growth may be hindered due to the high cost of hearing aids and the low penetration of these devices.
“Hearing aid devices to dominate the market during the forecast period”
By product, the hearing aids market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment is expected to hold the largest share of the market in 2017, while the hearing implants segment is projected to register the highest CAGR during the forecast period. Increase in approval from the government agencies for hearing implants is the key factor driving the growth of this segment.
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“Sensor neural hearing loss segment to hold the largest share of the market in 2017”
Based on type of hearing loss, 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.
“Adult patients segment to witness high growth during the forecast period”
Based on patient type, the hearing aids market is segmented into adult patients and pediatric patients. The adult patient segment is expected to account for the largest share and is projected to register the highest CAGR due to the high prevalence of hearing loss in the adult population due to ageing.
“Asia to witness high growth during the forecast period”
In 2017, 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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In the end, the Global Hearing Aids Market report’s conclusion part notes the estimation of the industry veterans.
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