Hearing Aid Market PPT: Share, Size, Trends, Growth, Region and Forecast Till 2024

Global Hearing Aid Market Research Report and Forecast 2024

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Global Hearing Aid Market Overview: As per the latest report by IMARC Group, titled “ Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global hearing aid market size reached US$ 7.4 Billion in 2018. Hearing aids are small, batteryoperated electronic devices that are worn in or behind the ear for improving hearing impairment. They help in amplifying the sound, which enables the user to listen, communicate and participate in everyday activities. It has three basic components, namely, a speaker, amplifier and a microphone. The hearing aid receives sound from the microphone, which is converted into electrical signals and sent to the amplifier. The amplifier then enhances the power of the signals and directs them to the ear through the speaker.

Global Hearing Aid Market Trends The growing geriatric population represents one of the major factors impelling the hearing aid market growth. This can be attributed to the association of old age with gradual hearing loss. Apart from this, the significant increase in the prevalence of hearing disabilities among the masses has boosted the sales of hearing aids across the globe. Furthermore, some of the leading players in the industry are introducing hearing aid devices that operate on lithium-ion batteries, which offer enhanced power when compared to conventional batteries.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

It can also be connected to the myPhonak app, which provides information about the battery status and wearing time statistics of the earpiece, as well as offers the ability to control the volume and frequencies. On account of these factors, the market value is projected to reach US$ 10.5 Billion by 2024, expanding at a CAGR of around 6% during 2019-2024.

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They are also investing in research and development (R&D) activities to introduce new product variants.

For instance, Sonova AG, a Switzerland-based provider of hearing solutions, has recently launched Audéo Marvel under its Phonak brand, which is a receiver-in-canal hearing aid that can be paired with Bluetooth-enabled devices for direct audio streaming and making hands-free phone calls.

For more information, click here: https://www.imarcgroup.com/hearing-aid-market Hearing Aid Market Segmentation Market Segmentation by Product Type •

•

Hearing Devices o Behind-the-Ear (BTE) o Receiver-in-the Ear (RITE) o In-the-Ear (ITE) o Canal Hearing Aids (CHA) o Others Hearing Implants o Cochlear Implants

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Report Description o BAHA Implants

Based on the product type, hearing devices represent the most widely utilized product type, followed by hearing implants. Hearing devices are further segmented into behind-the-ear (BTE), receiver-in-theear (RITE), in-the-ear (ITE), canal hearing aids (CHA) and others. Amongst these, BTE hearing aids exhibit a clear dominance in the market. On the other hand, hearing implants include cochlear and bone-anchored hearing aid (BAHA) implants.

Market Segmentation by Technology Type • •

Analog Digital

The market has been analyzed on the basis of the technology type into analog and digital.

Market Segmentation by Patient Type •

Adults

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Report Description •

Pediatrics

Based on the patient type, adults account for the majority of the total market share, followed by pediatrics.

Marker Segmentation by Hearing Loss • •

Sensorineural Hearing Loss Conductive Hearing Loss

On the basis of the hearing loss, the market has been bifurcated into sensorineural and conductive hearing loss.

Market Segmentation by End-Users • • • •

Hospitals ENT Clinics and Audiology Centres Individual Others

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On the basis of the end user, the market has been classified into hospitals, ENT clinics and audiology centers, individuals, and others.

Market Segmentation by Region • • • • •

Europe North America Asia Pacific Middle East and Africa Latin America

Region-wise, Europe represents the largest market. Other major markets include North America, Asia Pacific, Latin America, and Middle East and Africa.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

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Sonova Holding AG Starkey MED-EL William Demant Holding A/S Widex A/S Sivantos Group GN Store Nord A/S Cochlear Ltd SeboTek Hearing Systems LLC ReSound Group AGX Hearing Audina Hearing Instruments Lisound Banglijian Glaxosmithkline Benson Hearing

A partial List of

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Clients world's leading corporates, governments, and ourPartial ClientsList of institutions

A partial List of

We are the trusted business partners to the

of Clients leading corporates, governments, and ourPartial ClientsListworld's institutions

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