Hearing Aids Market 2021 by Product Type, Type of Hearing Loss (Sensorineural, Conductive), Patient Type, Region and Key Players Sonova Group (Switzerland), Demant A/S (Denmark), GN Store Nord A/S (Denmark)

The global hearing aids market is projected to reach USD 10.2 billion by 2026 from USD 7.5 billion in 2021, at a CAGR of 6.4% during the forecast period. Market growth is driven by factors such as the increasing adoption of smart hearing aids due to the rising incidence of noise-induced hearing loss, the growing prevalence of hearing loss, and technological advancements in hearing aids. On the other hand, the high cost of hearing aids and the requirement of high capital investments are the major factors hampering the growth of this market.

Request for FREE Sample Report: To Know the Impact of COVID-19 on this Industry @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=432785

Lists of Companies Profiled in the Report:

Sonova Group (Switzerland)
Demant A/S (Denmark)
GN Store Nord A/S (Denmark)
Cochlear Ltd. (Australia)
RION Co., Ltd. (Japan)
Starkey (US)
Nurotron Biotechnology Co., Ltd. (China)
MED-EL (Austria)
Audina Hearing Instruments, Inc. (US)
ElkonPvt. Ltd. (India)
WS Audiology A/S (Denmark)
Eargo, Inc. (US)
Horentek (Italy)
ZOUNDS Hearing Inc. (US)
SeboTek Hearing Systems, LLC. (US)
Arphi Electronics Private Limited (India)
IN4 Technology Corporation (China)
BHM-Tech ProduktionsgesellschaftmbH (Austria)
Nano Hearing Aids (US)
LORECas.r.o. (Turkey)
Earlens Corporation (US)
Austar Hearing Science and Technology (Xiamen) Co., Ltd. (China)
Lively Hearing Corporation (US)
audifon GmbH & Co. KG (Germany)
Foshan Vohom Technology Co., Ltd. (China)

“The hearing implants segment accounted for the highest growth rate in the hearing aids market, by product, during the forecast period”

The hearing aids market is segmented into hearing aid devices and hearing implants based on product. In 2020, the hearing implants segment accounted for the highest growth rate in the hearing aids market. The high incidence of hearing disorders, technological advancements in hearing implants, and growth in the geriatric population are the major factors contributing to the growth of this segment. However, the high cost of these implants and the low awareness about hearing implants in emerging countries are some of the major factors that are hindering the growth of this market segment.

“Sensor neural hearing loss segment accounted for the highest CAGR”

Based on the type of hearing loss, the hearing aids market is segmented into sensor neural hearing loss and conductive hearing loss. In 2020, the sensor neural hearing loss segment accounted for the highest growth rate. This can be attributed to the high prevalence of sensor neural hearing loss, coupled with the growing geriatric patient pool.

“Asia Pacific: The fastest-growing region hearing aids market”

The global hearing aids market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Factors such as the increasing prevalence of hearing loss, increasing healthcare spending, growing per capita income, and the presence of several high-growth markets are driving the growth of the hearing aids market in this region. The low labor costs and the favorable regulatory environment in this region are also expected to propel market growth.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 30%,and Tier 3 -30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America -51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%, and the Middle East & Africa – 4%

Research Coverage:

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

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall hearing aids market and its sub-segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.

Get FLAT 20% Discount on this Report at: https://www.reportsnreports.com/purchase.aspx?name=432785

Contact Us:

Corporate Headquarters
Tower B5, office 101,
Magarpatta SEZ,
Hadapsar, Pune-411013, India
+ 1 888 391 5441
sales@reportsandreports.com

About Us:

ReportsnReports.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 95 leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

This release was published on openPR.