Hearing Aids Market | Europe is expected to Register at Highest CAGR

Posted on 2020-07-24 by MarketsandMarkets in Biotech, Healthcare, Pharmaceuticals // 0 Comments

PUNE, India, 2020-Jul-24 — /EPR Network/ —

Factors such as high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids are driving the global hearing aids market.

According to MarketsandMarkets – [186 Pages Report] the hearing aids market is expected to reach USD 9.78 Billion by 2022 from USD 6.56 Billion in 2016, at a CAGR of 7.0% from 2017 to 2022.

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”
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Target Audience for this Report:

Hearing aid manufacturers
Healthcare institutions (hospitals and clinics)
Hearing aid service providers
Research institutions
Research and consulting firms
Audiology centers

Based on product, the hearing aids market is segmented into hearing aid devices and hearing implants. In 2017, the hearing aid devices segment is expected to account for the largest share of the hearing aids market. Growth in this segment is majorly driven by the rising geriatric population, technological advancements in hearing devices, and the development and introduction of new and advanced products.

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Europe to dominate the hearing aids market

In 2017, Europe is expected to dominate the global market primarily due to factors such as the growing aging population and high prevalence of hearing loss in this region. In 2017, North America is expected to account for the second-largest share of this market. Rising geriatric population and increasing conferences and symposiums help create awareness on market products and the latest technologies in hearing aids are the major factors supporting the growth of hearing aids market in this regional segment.

The objectives of this study are as follows:

To define, describe, and forecast the global market on the basis of product, type of hearing loss, patient type, and region
To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies
To track and analyze competitive developments such as acquisitions, new product launches, expansions, regulatory approvals, and agreements in the market

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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