Hearing Aid Market Size, Share, Growth, Trends & Report 2021-2026

According to the latest report by IMARC Group, titled “Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” the global hearing aid market reached a value of US$ 8.7 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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A hearing aid represents a small electronic device used to wear in or behind an ear. It enhances hearing so that a person with hearing loss can listen, communicate, and participate more fully in regular work. A hearing aid comprises of several essential components, such as a microphone, amplifier, and speaker. These components aid in magnifying sound vibrations entering the ear, perceiving more significant vibrations, and converting them into neural signals. The hearing devices are widely available in various designs and are customized according to the requirements of the customer.

The growing geriatric population across the globe is increasing the risk of hearing loss, which is primarily driving the hearing aid market. Besides this, a significant rise in the number of cases, especially that of infants, remains untreated, resulting in several psychological and speaking disabilities, thereby augmenting the market growth. In line with this, the introduction of aesthetically appealing products and the launch of innovative product variants, including waterproof hearing aids, are also propelling the product demand. Additionally, the increasing noise pollution levels, rising cases of birth complications and ear infections, and extensive research and development (R&D) activities by manufacturers are anticipated to bolster the hearing aid market in the coming years.

Hearing Aid Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the hearing aid market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Sonova Holding AG (SWX: SOON)
Starkey
MED-EL
William Demant Holding A/S (CPH: DEMANT)
Widex A/S
Sivantos Group
GN Store Nord A/S (CPH: GN)
Cochlear Ltd (ASX: COH)
SeboTek Hearing Systems LLC
ReSound Group
AGX Hearing
Audina Hearing Instruments
Lisound
Banglijian
Glaxosmithkline (LON: GSK)
Benson Hearing

Key Market Segmentation:

The report has segmented the hearing aid market on the basis of product type, hearing loss, patient type, technology type, end-user and region.

Breakup by Product Type:

Hearing Devices
Hearing Implants

Breakup by Hearing Loss:

Sensorineural Hearing Loss
Conductive Hearing Loss

Breakup by Patient Type:

Adults
Pediatrics

Breakup by Technology Type:

Analog
Digital

Breakup by End-User:

Hospitals
ENT Clinics and Audiology Centres
Individual
Others

Breakup by Region:

Europe
North America
Asia Pacific
Middle East and Africa
Latin America

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/hearing-aid-market

Key highlights of the report:            

Market Performance (2015-2020)
Market Outlook (2021-2026)
Industry Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

This release was published on openPR.