PUNE, India, November 9, 2017 /PRNewswire/ --
Hearing Aids Market Size will reach $9.78 billion by 2022 from $6.97 billion in 2017 at a CAGR of 7.0% during (2017-2022) driven by the high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids; while In 2017, Europe is expected to dominate the global market primarily due to the growing aging population and high prevalence of hearing loss in this region.
Browse 146 Market Data Tables and 41 Figures spread through 186 Pages and in-depth TOC on "Hearing Aids Market by Product (Receiver In The Ear, Behind The Ear, In The Ear, In The Canal Hearing Aids, Cochlear Implant, BAHA implant), Types of Hearing Loss (Sensorineural, Conductive Hearing loss) & Patient (Adult, Pediatric) - Forecast to 2022" http://www.rnrmarketresearch.com/hearing-aids-market-by-product-receiver-in-the-ear-behind-the-ear-in-the-ear-canal-hearing-aids-cochlear-implants-bone-anchored-systems-hearing-loss-sensorineural-conductive-end-user-adults-pediatrics-global-forecasts-to-2020-market-report.html
In 2017, Europe is expected to account for the largest share of the hearing aids market followed by North America. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in this segment is attributed to high prevalence of hearing loss, availability of technologically advanced hearing aids, growth in the aging population, and increasing initiatives by companies to expand in these emerging economies.
The hearing aids market is dominated by big players such as Sonova (Switzerland), William Demant (Denmark), and GN Store Nord (Denmark) with the presence of several small players as well. Some of the players operating in this market include Cochlear (Australia), Starkey (US), Widex (Denmark), MED-EL (Austria), SeboTek Hearing Systems (US), Audina Hearing Instruments (US), RION (Japan), Horentek (Italy), Microson (Spain), and Arphi Electronics (India).
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By product, the hearing aids market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment is expected to hold the largest share of the market in 2017, while the hearing implants segment is projected to register the highest CAGR during the forecast period. Increase in approval from the government agencies for hearing implants is the key factor driving the growth of this segment.
The sensor neural hearing loss segment to hold the largest share of the hearing aids market in 2017. Based on type of hearing loss, the hearing aids market is segmented into sensor neural hearing loss and conductive hearing loss. The sensor neural hearing loss segment (SNHL) is expected to dominate this market, due to high prevalence of SNHL and increasing initiatives by companies and regulatory authorities to develop hearing aid devices for SNHL treatment.
Based on patient type, the hearing aids market is segmented into adult patients and pediatric patients. The adult patient segment is expected to account for the largest share and is projected to register the highest CAGR due to the high prevalence of hearing loss in the adult population due to ageing.
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The report provides an overview of the hearing aids market. It aims at estimating the market size and future growth potential of this market across different segments such as product, type of hearing loss, patient type, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 33%; Tier 2 - 45%; Tier 3 - 22%.
- By Designation: C-level - 22%; D-level - 28%; others - 50%.
- By Region: North America - 48%; Europe - 21%; Asia - 26%; RoW - 5%.
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