Hearing Aids Market Size Worth USD 8,967.7 Million by 2027

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Hearing Aids Market Size Worth USD 8,967.7 Million by 2027 The government’s support for improving the life of hearingimpaired individuals is one of the significant factors influencing the market growth.

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Market Summary

The global hearing aids market is expected to reach USD 8,967.7 Million by 2027, according to a new report by Emergen Research. The hearing aids market is experiencing a rapid growth attributable to the increasing application of behindthe-ear, receiver in-the-ear, in-the-ear, and canal hearing aids, as well as cochlear implants, among others, in the adults and pediatrics. Innovative technological developments in hearing aids are crucial to fuel market demand.

For instance, hearing-impaired individuals are considered to be 300.0% more prone to falling, and the technology, developed by Starkey, on the occurrence of a fall would automatically send alerts to three emergency contact notifying them about the fall, as well the precise location of the hearing-impaired individual. Besides, there are technologies that can detect and generate sound alerts to indicate that the person is on the verge of falling.

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Market Summary Some Key Highlights From the Report • By type, canal hearing aids are estimated to witness the fastest growth rate of 7.8% in the forecast period. Canal hearing aids have a less likely chance to overwhelm listeners with feedback, and blocking of the ear canal is less of a problem, thus mitigating the occlusion effect.

• By hearing loss, sensorineural hearing loss held a substantial market share in 2019. Sensorineural hearing loss (SNHL) occurs post damage to the inner ear. It may also occur owing to nerve pathways problems from the inner ear to the brain. SNHL may cause difficulty in the hearing of soft sound and even louder sounds.Key participants include Illumina, Thermo Fisher Scientific Inc., Fludigim, Bio-Rad, Becton, Dickinson, and Company, Qiagen, F Hoffmann-La Roche Ltd., BGI, 10X Genomics Inc., Oxford Nanopore Technologies, among others.

• Europe, in terms of revenue, held the largest hearing aid market share in 2019 and is likely to grow at a CAGR of 5.8% in the forecast period. The market dominance of the region is owing to the growing geriatric population and increasing occurrences of hearing loss.

• Key participants include Benson Hearing, Starkey, Medtronic, Sivantos Pte. Ltd., MED_EL, WIDEX USA Inc., GN Store Nord A/S, Phonak, William Demat Holding A/S, and Rion, among others.

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Market Summary Emergen Research has segmented the global hearing aids market on the basis of type, hearing loss, application, and region: Type Outlook (Revenue, USD Billion; 2017-2027) Behind-the-ear Hearing Aids Receiver in-the-ear Hearing Aids In-the-ear Hearing Aids Canal Hearing Aids Others Hearing Loss Outlook (Revenue, USD Billion; 2017-2027) Sensorineural Hearing Loss Conductive Hearing Loss Application Outlook (Revenue, USD Billion; 2017-2027) Adults Pediatrics

Read More@ https://www.emergenresearch.com/industry-report/hearing-aids-market

Parameter

Details

Market Size Estimation Period

2020-2028

Base Year Considered

2020

Historical Data

2017-2019

Forecast Period

2021-2028

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Revenue in USD million & CAGR from 2020 to 2028

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Types, Application, End-Users, Regions & more.

Countries Included

The U.S., Germany, U.K., Italy, China, India, Japan, Brazil

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Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends

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North America, Europe, Asia Pacific, Latin America, Middle East and Africa

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