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Hearing Aids Market, 2028 - Increasing Demand for Custom-made Hearing Aids / Product Launches / Brand Consolidation
DUBLIN, June 6, 2019 /PRNewswire/ -- The "Global Hearing Aids Market: Focus on Products, Distribution Channels and 11 Countries' Data - Analysis and Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global hearing aids market was estimated at $8.37 billion in 2018 and is anticipated to reach $16.34 billion by 2028.
The global hearing aids market is majorly dominated by the U.S. and the European players. However, several emerging countries of Asia-Pacific and Latin America displayed a high potential to witness a robust growth rate during the period. The Australia-based company, Cochlear Limited offering cochlear implants or artificial ear contributed more than 50% of the market value in 2018 to the global hearing implants market.
The increasing aging population is one of the leading factors for market growth. The Middle East and Africa have reported high projection for the hearing loss by 2050 which has been estimated to rise by 3.2% growth rate. The prevalence of hearing loss has been recorded as 8.36% in the Central/East Europe and Central Asia, which is the highest amongst the other regions included in the study. 2018. The prevalence is expected to rise in the coming years fuelling the market demand for hearing aid devices, including devices and implants both. The hearing loss can be prevented with public health measures.
In children under 15 years of age, 60% of hearing loss is attributable to preventable causes. This figure is higher in low- and middle-income countries (75%) as compared to high-income countries (49%). The manufacturers are concentrated toward the introduction of breakthrough technology for the hearing aid devices in recent years. Currently, the market is experiencing increased product launches across the world along with business expansion. Artificial intelligence is the latest innovation introduced in the global hearing aids market, focusing mainly on hearing aid devices.
The answers to the following key questions can be derived from this report:
- What are the key features of hearing aids which make them suitable for the hearing loss patients worldwide?
- What are the advantages of hearing aid devices over hearing implants?
- How did the hearing aids market evolve, and what is its scope in the future?
- What are the major market drivers, challenges, and opportunities in the global hearing aids market?
- What are the key development strategies which are implemented by the key players to stand out in this market?
- Which are the leading companies dominating the global hearing aids market?
- How many types of hearing aid devices are available in the market, and which are the companies offering hearing aid devices?
- Based on product type, which hearing aids type is anticipated to witness a massive rise in the demand in the forecast period and in which region?
- What are the different hearing implants available in the market? Which type of hearing implants is expected to witness high demand in the forecast period?
- What are investors' perceptions about the global hearing aids market? Also, what is the reimbursement scenario of the market?
- What are the key companies which made substantial investments to aid technological advancements in the market?
- What are the regulations pertaining to the global hearing aids market? What are the initiatives implemented by different government bodies to overcome the shortage of hearing aids in the developing economies?
- What was the market value of the leading segments and sub-segments of the global hearing aids market?
- How will each segment of the global hearing aids market grow during the forecast period and what will be the revenue generated by each of the segments by the end of 2028?
- How will the industry evolve during the forecast period 2019-2028?
- Which region carries the potential for the significant expansion of key companies for different hearing aid product types?
The key players who have significant contributions to the global hearing aids market are Cochlear Limited, GN Store Nord A/S, MED-EL, Sonova Holding AG, Starkey Hearing Technologies, Widex A/S, William Demant Holding A/S, Microson, and RION Co. Ltd., among others.
Key Topics Covered:
1 Market Overview
1.1 History of Hearing Aids
1.2 Mechanism of a Hearing Aid
1.3 Factors Propelling the Market Growth
1.3.1 Prevalence of Hearing Loss
1.3.2 Demand for Compact Hearing Aid Devices
1.4 Classification of Hearing Aids Market
1.5 Future Market Potential of Hearing Aids
2 Market Dynamics
2.1 Impact Analysis
2.2 Market Drivers
2.2.1 Increasing Prevalence of Hearing Loss
2.2.2 Growing Incidence of Occupational Hazards
2.2.3 Rising Demand for Compact Hearing Aids
2.2.4 Rise in Self-Reported Cases of Hearing Loss
2.3 Market Restraints and Challenges
2.3.1 Complications Associated with Surgical Procedures
2.3.2 Unauthorized Sales of Hearing Aid Devices
2.3.3 Non-Uniform Reimbursement Scenario
2.4 Market Opportunities
2.4.1 Increasing Demand for Custom-made Hearing Aids
2.4.2 Product Launches
2.4.3 Brand Consolidation
3 Competitive Landscape
3.1 Key Strategies and Development
3.1.1 Product Launch and Enhancements
3.1.2 Collaborations, Partnership, Joint Ventures, and Agreements
3.1.3 Mergers and Acquisitions
3.1.4 Business Expansion
3.2 Market Share Analysis
3.3 Industry Attractiveness
4 Industry Insights
4.1 Regulatory Framework
4.1.1 Regulatory Framework in the U.S.
4.1.2 Regulatory Framework in Europe
4.1.3 Regulatory Framework in Asia-Pacific
4.2 List of Regulatory Bodies
5 Global Hearing Aids Market (by Product)
5.1 Assumptions and Limitations
5.3 Hearing Aid Devices
5.3.1 Global Hearing Aid Devices Market (by Type)
18.104.22.168 Behind-the-Ear (BTE)
22.214.171.124 In-the-Ear (ITE)
126.96.36.199 In-the-canal (ITC) and Completely-in-the-canal (CIC)
5.3.2 Global Hearing Aid Devices Market (by Region)
5.4 Hearing Implants
5.4.1 Global Hearing Implants Market (by Type)
188.8.131.52 Cochlear Implants
184.108.40.206 BAHA Implants
5.4.2 Global Hearing Implants Market (by Region)
6 Global Hearing Aids Market (by Distribution Channel)
6.2 Audiology and ENT Clinics
7 Global Hearing Aids Market (by Region)
7.2 North America
7.2.1 North America Hearing Aids Market (by Country)
220.127.116.11 The U.S.
18.104.22.168.1 Hearing Implants Market in the U.S.
22.214.171.124.1.1 Cochlear Implants Market in the U.S.
126.96.36.199.1.2 BAHA Implants in the U.S.
188.8.131.52.2 Hearing Aid Devices Market in the U.S.
7.3.1 Europe Hearing Aids Market (by Country)
184.108.40.206 The U.K.
7.4.1 Asia-Pacific Hearing Aids Market (by Country)
7.5 Latin America
7.5.1 Latin America Hearing Aids Market (by Country)
8 Company Profiles
- Arphi Electronics Private Limited
- Audina Hearing Instruments Inc.
- Cochlear Limited
- GN Store Nord A/S
- NewSound Hearing Aids
- Nurotron Biotechnology Co. Ltd.
- RION Co. Ltd.
- Sonova Holding AG
- Starkey Hearing Technologies
- Widex A/S
- William Demant Holding A/S
- Zounds Hearing Inc.
For more information about this report visit https://www.researchandmarkets.com/r/3tmqs2
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