Press release
The Global Hearing Aids Market to Amount to $11101.1 Million by 2028
HEARING AIDS MARKET
A recent study by Triton Market Research titled 'Global Hearing Aids Market,'covers the Global Analysis and Forecasts by Technology (Digital Hearing Aids, Conventional Hearing Aids), by Product (Hearing Implants [Cochlear Implants, Bone-anchored Systems], Hearing Aid Devices [Behind-the-Ear (BTE), In-the-Canal (ITC) and Completely-in-the-Canal (CIC), In-the-Ear (ITE), Other Hearing Aid Devices]), by Types of Patient (Adults, Pediatrics/Children), by Types of Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss), by Distribution Channel (Audiology and ENT Clinics, Pharmacies, Hospitals), and by Regional Outlook (North America; Europe; Asia-Pacific; Latin America; the Middle East and Africa), and Regional Outlook (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
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Triton Market Research projects that, between 2022 and 2028, the global market for hearing aids will expand at a compound annual growth rate (CAGR) of 6.68%. By 2028, this industry is projected to generate $11101.1 million in sales.
In order to launch the "Hear Well. Stay Vital." campaign in the US in 2019, the Hearing Industries Association (HIA) teamed up with the International Hearing Society (IHS), the Academy of Doctors of Audiology (ADA), the American Academy of Audiology (AAA), and the Hearing Loss Association of America (HLAA). The goals of this campaign were to improve hearing and raise public awareness of hearing loss. A major factor driving the expansion of the hearing aids industry is the increasing number of campaigns to raise public awareness about these devices.
Here's a link to our Country Report Summary: https://www.tritonmarketresearch.com/search-report/HEARING+AIDS+MARKET
However, hearing aids may also face a number of issues, such as inability to work efficiently in noisy situations, inability to restore an individual's hearing to normal, incur high costs, etc. These are some factors that can affect their adoption rate across the globe, consequently restraining the market's growth.
The market for hearing aids is segmented into technology, product, types of patient, types of hearing loss, and distribution channel. Based on technology, it is divided into digital hearing aids and conventional hearing aids.
Based on product, it is bifurcated broadly into hearing implants and hearing aid devices. Hearing implants is further divided into cochlear implants and bone-anchored systems. And hearing aid devices is further divided behind-the-ear (BTE), in-the-canal (ITC) and completely-in-the-canal (CIC), in-the-ear (ITE), and other hearing aid devices.
Whereas, on the basis of types of patient, it is categorized into adults and pediatrics/children. According to types of hearing loss, it is classified into sensorineural hearing loss and conductive hearing loss. And lastly, according to distribution channel, it is classified into audiology and ENT clinics, pharmacies, and hospitals.
The Asia-Pacific is expected to grow the fastest in the global market, over the forecast period. This growth can largely be attributed to the presence of a large pool of patient population with hearing loss in this region. Along with this, increased healthcare spending and the development of the healthcare infrastructure are also contributing to the growth of the hearing aids market in the APAC.
Sonova, Cochlear Ltd, Med El, Siemens AG, Zounds Hearing, Sebotek Hearing Systems LLC, Rion Co Ltd, Demant AS, Starkey, Arphi Electronics Pvt Ltd, Amplifon, Microson, Audina Hearing Instruments Inc, Horentek, and GN Store Nord AS are the well-known players in the hearing aids market.
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Question & Answer: Hearing Aids Market
Question 1: What factors are contributing to the growth of the hearing aids market?
Answer: In 2019, the Hearing Industries Association (HIA) partnered with the International Hearing Society (IHS), the Academy of Doctors of Audiology (ADA), the American Academy of Audiology (AAA), and the Hearing Loss Association of America (HLAA), to launch a campaign called "Hear Well. Stay Vital." in the United States. This initiative was aimed to increase public awareness about hearing loss and promote better hearing. Such growing initiatives to spread awareness about hearing aid devices are largely contributing to the growth of the hearing aids market.
Question 2: What factors can restrain the hearing aids market's growth?
Answer: Hearing aids may also face a number of issues, such as inability to work efficiently in noisy situations, inability to restore an individual's hearing to normal, incur high costs, etc. These are some factors that can affect their adoption rate across the globe, consequently restraining the market's growth.
Question 3: Which region is expected to grow the fastest in the global market for hearing aids?
Answer: The Asia-Pacific is expected to grow the fastest in the global market, over the forecast period. This growth can largely be attributed to the presence of a large pool of patient population with hearing loss in this region. Along with this, increased healthcare spending and the development of the healthcare infrastructure are also contributing to the growth of the hearing aids market in the APAC.
Question 4: Who are the well-known players in the hearing aids market?
Answer: Sonova, Cochlear Ltd, Med El, Siemens AG, Zounds Hearing, Sebotek Hearing Systems LLC, Rion Co Ltd, Demant AS, Starkey, Arphi Electronics Pvt Ltd, Amplifon, Microson, Audina Hearing Instruments Inc, Horentek, and GN Store Nord AS are the well-known players in the hearing aids market.
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