Hearing Aid Market in North America Business Insights By Technological Scope, Demand Overview, Top Players Growth By Product (Receiver-in-Canal, Completely-in-Canal, Behind-the-Ear, In-the-Canal, In-the-Ear, Tinnitus, Single-Sided Hearing, Hearing Amplifi

Hearing Aids have undergone various transformations since the day of its inception. Modern age hearing aids consist of new algorithms that can dramatically improve life for the users and the best combination of futuristic technologies and personal care. Latest hearing aids also feature such as the use of machine learning and artificial intelligence technique to apply user input for efficient optimization of hearing aid parameters.

Vibrating with these innovations, the hearing aids market in the North American region has been witnessing constant rise over the last few years. Factors leading the market include the increasing cases of complications arising during the birth that increases the chances of hearing loss and the growing number of centers for hearing screening and diagnostic.

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Acknowledging the escalating graph of growth, the market is climbing constantly, Market Research Future (MRFR), in its recently published study report asserts that the North America hearing aid market will grow exponentially by 2022, registering a striking CAGR throughout the forecast period (2016 – 2022). The availability of technologically advanced devices coupled with the high per capita healthcare expenses, predominantly foster the growth of the hearing aid market in North America.

The well-spread awareness among people about the hearing impairment and the availability of aids to counter the same contribute to the market growth. Well-defined per capita healthcare expenditure is another key factor, driving the market growth in this region. Furthermore, increasing geriatric population and government initiatives were undertaken to create awareness on the hearing loss and treatments available are fuelling the market growth in the region.



Hearing Aid Market in North America – Segments

The MRFR analysis is segmented into three key dynamics for enhanced understanding.

By Product : Receiver-in-Canal, Behind-the-Ear, Completely-in-Canal, In-the-Canal, Tinnitus, In-the-Ear, Single-Sided Hearing, Hearing Amplifiers, Invisible, Pocket Hearing Aids, Made For iPhone, and Hearing Aid Accessories.

By End-users: Adults and Pediatrics.

By Countries: Countries consisting in the North American region



North America Hearing Aid Market – Regional Analysis

The prevalence of hearing loss/impairment is increasing rapidly among children as well as in adults. Furthermore, rising cases of risks associated with the prevailing incidents such as trauma/accidents, surgeries and medication reaction that could result in temporary or permanent hearing loss are creating the demand for hearing aids.

The US among other North American countries leads the hearing aid market in the region accounting for the significant market share due to the latest technologies in hearing aids and constant research and development activities by market players. Whereas, Canada has been observed to possess the second-largest market share in the region owing to the presence of big players and the growing uptake of technologies.

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North American Hearing Aid Market – Competitive Analysis

The hearing aid market appears to be highly competitive characterized by the presence of several well-established as well as small players. Matured players incorporate strategic initiatives such as acquisition, collaboration, partnership, expansion, and technology launch in order to gain a competitive advantage and thus to maintain their positions in this market.

Well established players ensure to offer a comprehensive portfolio of products, as well as the quality assurance testing of third-party instruments. They develop a range of FDA-licensed products, which they can sell directly to the testing laboratories, hospitals, and independent patient. These players strive to develop additional applications for their existing techniques or methodologies.

Major Players:

Key players leading the hearing aid market in North America include GN Store Nord A/S, Cochlear Ltd, Med-El, Sivantos Pvt. Ltd, Sebotek Hearing Systems LLC, Starkey Hearing Technologies Inc., Sonova, WIDEX A/S, Zounds Hearing, and William Demant Holding A/S among others.

Industry/Innovation/Related News:

January 28, 2019 --- Lively Inc. (the US), also known as Lively Hearing Corporation, a leading global provider of healthcare equipment and devices, complementing its catalogue of connected hearing aids, launched a telehealth service that will allow users to complete an online hearing assessment, conduct a virtual video consultation with an audiologist and have their device remotely tuned.

The remote updates complement the other digital features of company’s hearing aids, all of which are connected via Bluetooth and controlled through an accompanying app. Alongside the launch Lively also confirmed the funding round of USD 16MN.

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January 26, 2019 --- Starkey Hearing Technologies (the US) a leading global manufacturer of hearing aids announced updates of its Livio AI device (launched in 2018). The Livio AI device that had already boasted a host of useful features is now updated with the futuristic technologies such as Alexa voice control and built-in language translation that will completely reimagine the concept of the hearing aid. The Livio AI device now comes with fall detection, heart rate measurement, and a built-in virtual assistant.

January 03, 2019 --- Prodways Group (France), a 3D printer producer and service provider, announced the acquisition of Surdifuse and L’Embout Français (France), a leading global manufacturer of earmolds and custom hearing protectors.

Prodways Group, heading with the acquisition of 100% of the company’s share capital, plans to accelerate production of customized 3D printed medical devices such as customized ear tips for hearing aids.

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