In the last few years, tremendous technological developments in the healthcare sector have helped in rising the life span of people by providing them better and effective health care. The global Hearing Aids market is expected to grow at a significant rate in the forthcoming years. Several factors such as the rise in the incidence of hearing loss due to the ageing population, increased knowledge of technologically sophisticated devices for the treatment of deafness, and large utilization of these devices are boosting the growth of the global Hearing Aids market.
Furthermore, hearing service offices and general healthcare service associations of local governments in both developed and developing economies are emphasizing the distribution of hearing aid and early screening of deafness. Additionally, as the healthcare sector in developing countries is moving towards privatization, healthcare infrastructure in these countries is undergoing rapid development. Also, education and augmented awareness about health among people are playing a crucial role in growing the demand for these devices and their diagnostic services. Each of these factors is anticipated to have a definite impact on the global Hearing Aids market during the forecast period.
Moreover, many countries are focused on reducing deafness and this, in turn, has led to the introduction of several initiatives that aim to promote awareness and provide free care to patients. In addition, subsidies, grants, and funding are offered by governments all across the world to prevent and manage hearing disorders. These key factors are remarkably propelling the growth of the Hearing Aids market.
Covid-19 Impact on Hearing Aids Market
In addition, the current Hearing Aids Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Hearing Aids Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying, and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Hearing Aids Market Segment Overview
According to Product, the Behind-the-ear (BTE) Hearing Aids is the largest segment in the global Hearing Aids market. BTE hearing aids come with a compact curved case that sits just behind the ear suitably. Connecting these devices to external sources of sound, such as auditory training equipment and infrared listening systems allows them to be modified. Additionally, Bluetooth compatibility is available in a variety of BTE models, allowing for enhanced wireless communication. Eventually, such technological innovations are expected to intensify the growth of the global hearing aids market in the coming years.
Hearing Aids Market, By Product Type
· Receiver-in-the-ear Hearing Aids
· Behind-the-ear Hearing Aids
· Canal Hearing Aids
· In-the-ear Hearing Aids
· Bone Anchored Hearing Aids
Hearing Aids Market, By End-User
· Adults
· Pediatrics
Hearing Aids Market Regional Overview
In terms of region, Europe holds a dominant position in the global Hearing Aids market. This is because a large number of customers are capable and can afford hearing aids owing to their high disposable income. Also, continuous support and development of medical technology have augmented the demand for hearing aids in this region. Similarly, North America is also considered one of the major regions for this market. Large numbers of key players are present in the region is the main reason behind the growth of the market in this region. The market in the Asia Pacific region is projected to expand at a healthy pace during the forecast period. Factors such as emerging healthcare infrastructure and growing awareness about health issues and treatment are propelling the growth of the market in this region.
Hearing Aids Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Hearing Aids Market Competitor overview
Some key developments and strategies adopted by manufacturers in Hearing Aids are highlighted below.
. In August 2021, Phonak has revealed the latest hearing aid with rechargeable batteries and waterproofing. The Phonak Audéo Life is called “the world’s first rechargeable hearing aid that is waterproof, showerproof, and sweatproof.”
Hearing Aids Market, Key Players
· GN ReSound
· Widex A/S
· Siemens Healthcare
· Starkey
· the William Demant Holding Group
· Sonova Holding AG
· Benson Hearing
· MED-EL
· Medtronic
· Sivantos Pte LTD.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Hearing Aids Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product Type
- 5.2.1. Receiver-in-the-ear Hearing Aids
- 5.2.2. Behind-the-ear Hearing Aids
- 5.2.3. Canal Hearing Aids
- 5.2.4. In-the-ear Hearing Aids
- 5.2.5. Bone Anchored Hearing Aids
- 5.3. Market Analysis, Insights and Forecast – By End-User
- 5.3.1. Adults
- 5.3.2. Pediatrics
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East and Africa
6. North America Hearing Aids Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product Type
- 6.2.1. Receiver-in-the-ear Hearing Aids
- 6.2.2. Behind-the-ear Hearing Aids
- 6.2.3. Canal Hearing Aids
- 6.2.4. In-the-ear Hearing Aids
- 6.2.5. Bone Anchored Hearing Aids
- 6.3. Market Analysis, Insights and Forecast – By End-User
- 6.3.1. Adults
- 6.3.2. Pediatrics
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Hearing Aids Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product Type
- 7.2.1. Receiver-in-the-ear Hearing Aids
- 7.2.2. Behind-the-ear Hearing Aids
- 7.2.3. Canal Hearing Aids
- 7.2.4. In-the-ear Hearing Aids
- 7.2.5. Bone Anchored Hearing Aids
- 7.3. Market Analysis, Insights and Forecast – By End-User
- 7.3.1. Adults
- 7.3.2. Pediatrics
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Hearing Aids Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product Type
- 8.2.1. Receiver-in-the-ear Hearing Aids
- 8.2.2. Behind-the-ear Hearing Aids
- 8.2.3. Canal Hearing Aids
- 8.2.4. In-the-ear Hearing Aids
- 8.2.5. Bone Anchored Hearing Aids
- 8.3. Market Analysis, Insights and Forecast – By End-User
- 8.3.1. Adults
- 8.3.2. Pediatrics
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Hearing Aids Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product Type
- 9.2.1. Receiver-in-the-ear Hearing Aids
- 9.2.2. Behind-the-ear Hearing Aids
- 9.2.3. Canal Hearing Aids
- 9.2.4. In-the-ear Hearing Aids
- 9.2.5. Bone Anchored Hearing Aids
- 9.3. Market Analysis, Insights and Forecast – By End-User
- 9.3.1. Adults
- 9.3.2. Pediatrics
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. GN ReSound
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Widex A/S
- 10.6. Siemens Healthcare
- 10.7. Starkey
- 10.8. the William Demant Holding Group
- 10.9. Sonova Holding AG
- 10.10. Benson Hearing
- 10.11. MED-EL
- 10.12. Medtronic
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
