Press release
Hearing Aid Market Size to Hit US$ 9.3 Billion by 2028 | IMARC Group
How Big is the Hearing Aid Market?
The global hearing aid market size reached US$ 6.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.35% during 2023-2028.
What is Hearing Aid?
Hearing aids are small, battery-powered electronic devices designed to help individuals with hearing loss improve their ability to hear and communicate effectively. They can be worn in or behind the ear, and their components include an amplifier, microphone, and speaker. Hearing aids offer numerous benefits, including improved communication and participation in daily activities, increased confidence and self-esteem, and reduced social isolation. They can also help prevent cognitive decline and promote overall well-being. When compared to other forms of hearing assistance, such as cochlear implants or assistive listening devices, hearing aids are more affordable and easier to use, with a lower risk of complications.
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Global Hearing Aid Market Trends:
The global hearing aid market is experiencing steady growth due to the burgeoning geriatric population and the rising prevalence of age-related hearing loss. In addition to this, the surging incidence of hearing disabilities and increasing cases of birth complications and ear infections are bolstering the market growth. In line with this, key market manufacturers are launching aesthetically appealing designs with advanced features, such as waterproof hearing aids, to expand their consumer base. They are also integrating cochlear implants and hearing aid technology to overcome high-frequency hearing loss, which, in turn, is propelling the market growth. Other factors, such as rising noise pollution and inflating disposable incomes, are positively contributing to the market growth.
Who are the key players operating in the industry?
The report covers the major market players including:
Sonova Holding AG
Starkey Laboratories
MED-EL GmbH
Demant A/S
WS Audiology A/S
Widex A/S
Sivantos Group
GN Store Nord A/S
Cochlear Limited
SeboTek Hearing Systems LLC
ReSound Group (GN Hearing A/S)
AGX Hearing (Audigy Group)
Audina Hearing Instruments, Inc.
Lisound Hearing Aid (Fuzhou) Co., Ltd.
Banglijian
GlaxoSmithKline plc
Benson Hearing, etc
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
Hearing Devices
Behind-the-Ear (BTE)
Receiver-in-the Ear (RITE)
In-the-Ear (ITE)
Canal Hearing Aids (CHA)
Others
Hearing Implants
Cochlear Implants
BAHA 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
Ask Analyst for Customization and Explore full Report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=1585&flag=C
Key Highlights of the Report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
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.
Contact US
IMARC Group
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Email: sales@imarcgroup.com
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About Us:
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
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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