DUBLIN, Jan. 30, 2018 /PRNewswire/ --
The "Hearing Aids Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.
The global hearing aids market is expected to cross $9 billion by 2023, growing at a CAGR of around 8% during the forecast period.
The growing awareness in the population about under-diagnosed medical conditions that can cause hearing impairment is driving the growth of the global hearing aids market. The dynamic changes in lifestyles and the increasing demand for hearing aids will boost the sale of these products in the global market.
Introduction of new and innovative products such as digital waterproof hearing aid and implementation of digital technology will propel the growth of the hearing aids market during the forecast period. The introduction of a new product that combines cochlear implant and hearing aid technology to overcome the high-frequency hearing loss in patients will create new opportunities for players in the global hearing aids market. Prominent vendors are investing in advanced technology to launch better products and increase market share in the hearing aids market.
The penetration of internet is helping the development of e-commerce websites that sell hearing aids to end-users. The global hearing aids market is witnessing a surge in demand for these products through online websites. The distribution through online channels will increase the revenue of vendors and reduce the waiting time for patients in hospitals and clinics.
The leading vendors in the global hearing aids market are increasing their promotional and marketing activities to gain a large consumer base and market size. The players in the hearing aids market are focusing on the product development and choosing the correct distribution channel to attract the maximum number of customers and increase their market size.
Companies are leveraging the popularity of various online websites to create awareness about the different products that are available in the market and educate end-users about them. For instance, online retailers such as Amazon and eBay offer a comparative analysis of various types and brands of hearing aids. Such marketing strategies will drive the growth in the global hearing aids market during the forecast period.
The global hearing aids market is moderately fragmented with many international players providing hearing aid products with high functionality and compact designs. With the advancement in technology and product innovation, the competition in the market is intensifying. The increasing demand for digital hearing aids is creating new opportunities for vendors to enter this market.
The prominent players are also focusing on expanding their businesses to fast-developing regions of APAC and Latin America to increase the market share and the consumer base. The introduction of innovative and advanced solutions will drive the growth of the global hearing aids market during the forecast period.
Key Topics Covered:
1 Research Methodology
2 Research objectives
3 Research Process
4 Report Coverage
5 Report Assumptions & Caveats
6 Market at a Glance
9 Market Dynamics
10 Global Hearing Aids Market
11 Hearing Aids Market By Product
12 Market Segmentation by End-Users
13 Geographical Segmentation
- William Demant
- Sivantos Group
Other Prominent Companies
- Audina Hearing Instruments
- Newsound Hearing Aids
- Nurotron Biotechnology
- Gn Hearing
- Sebotek Hearing Systems
- Arphi Electronics
- Zounds Hearing
- In4 Technology
For more information about this report visit https://www.researchandmarkets.com/research/2bh8nc/hearing_aids?w=5
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