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Report
Global Hearing Aids Market Report and Forecast 2023-2031
Market Report I 2023-05-08 I 140 Pages I EMR Inc.
Global Hearing Aids Market Report and Forecast 2023-2031
Global Hearing Aids Market Outlook
The global hearing aids market size attained a value of USD 8.7 billion in 2022. The market is anticipated to grow at a CAGR of 5.9% during the forecast period of 2023-2031, likely to attain a value of USD 14.6 billion by 2031.
Hearing Aids: Introduction
Hearing aids are small electronic devices designed to improve hearing and communication abilities for individuals with hearing loss. They consist of a microphone, an amplifier, a speaker, and a power source (typically a battery). Hearing aids can be worn behind the ear, in the ear canal, or as a small device attached to the ear's outer rim, depending on the design and specific needs of the user.
The applications of hearing aids are as follows:
- Amplification of sound: The primary function of a hearing aid is to amplify sound, making it easier for individuals with hearing loss to hear and understand speech and other environmental noises.
- Improved speech comprehension: By increasing the volume of speech sounds relative to background noise, hearing aids can help users better comprehend conversations in various settings, such as at home, work, or social gatherings.
- Enhanced quality of life: Hearing aids can significantly improve the overall quality of life for individuals with hearing loss, enabling them to participate more fully in social activities and maintain better communication with friends and family.
- Tinnitus management: For some individuals, hearing aids can help alleviate the symptoms of tinnitus (ringing or buzzing in the ears) by providing sound amplification, which may mask or reduce the perception of tinnitus.
- Connection to assistive devices: Modern hearing aids often come equipped with wireless connectivity options, allowing users to connect them to smartphones, televisions, and other devices for a more seamless listening experience. This feature can be particularly beneficial for users who rely on assistive listening devices in educational, professional, or recreational settings.
Hearing Aids Market Segmentations
The market can be categorised into product type, technology, type of hearing loss, population type, treatment channel, end user, and region.
Market Breakup by Product Type
- In-the-Ear Hearing Aids
- Receiver-In-the-Ear Hearing Aids
- Behind-the-Ear Hearing Aids
- Canal Hearing Aids
Market Breakup by Technology
- Digital Hearing Aids
- Analog Hearing Aids
Market Breakup by Type of Hearing Loss
- Sensorineural Hearing Loss
- Conductive Hearing Loss
- Mix Hearing Loss
Market Breakup by Population Type
- Child
- Adults
o Male
o Female
- Geriatrics
o Male
o Female
Market Breakup by Treatment Channel
- Public
- Private
Market Breakup by End User
- Hospitals
- Otology Clinics
- Ambulatory Clinics
- Others
Hearing Aids Market Breakup by Region
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Others
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
- Latin America
- Brazil
- Argentina
- Mexico
- Others
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Hearing Aids Market Scenario
The global hearing aids market is experiencing robust growth, driven by factors such as an ageing population, increased prevalence of hearing loss, technological advancements, and rising awareness about the importance of early diagnosis and treatment. The market has witnessed a shift towards more discreet, comfortable, and technologically advanced devices, such as invisible-in-canal hearing aids and devices with wireless connectivity. These innovations have improved user experience and broadened the appeal of hearing aids to a wider range of individuals.
Additionally, the emergence of tele audiology and mobile applications has further enhanced access to hearing care services, particularly in remote and underserved areas. Government initiatives and the expansion of public health programs have also contributed to increased adoption of hearing aids worldwide. Key players in the market are focusing on research and development, strategic partnerships, and mergers and acquisitions to strengthen their product portfolios and expand their global presence. The hearing aids market is expected to continue its upward trajectory, driven by the growing demand for innovative, effective, and accessible solutions for hearing loss.
Key Players in the Global Hearing Aids Market
The report gives an in-depth analysis of the key players involved in the hearing aids market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows:
- Abbott
- WIDEX A/S
- GN Store Nord A/S
- Sonova
- Sivantos
- Microson
- Horentek
- RION CO. Ltd
- Demant A/S
- Amplifon
- Starkey
- MED-EL Medical Electronics
- Cochlear Ltd.
- SeboTek Hearing Systems, LLC.
- Audina Hearing Instruments, Inc.
- Arphi Electronics Private Limited
- Sound One India
- Amplicon
- MED-EL Medical Electronics (Austria)
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Hearing Aids Market Overview
3.1 Global Hearing Aids Market Historical Value (2016-2022)
3.2 Global Hearing Aids Market Forecast Value (2023-2031)
4 Global Hearing Aids Market Landscape
4.1 Global Hearing Aids Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Hearing Aids Product Landscape
4.2.1 Analysis by Product Type
4.2.2 Analysis by Technology
4.2.3 Analysis by End User
5 Global Hearing Aids Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter's Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Hearing Aids Market Segmentation
6.1 Global Hearing Aids Market by Product Type
6.1.1 Market Overview
6.1.2 In-the-Ear Hearing Aids
6.1.3 Receiver-In-the-Ear Hearing Aids
6.1.4 Behind-the-Ear Hearing Aids
6.1.5 Canal Hearing Aids
6.2 Global Hearing Aids Market by Technology
6.2.1 Market Overview
6.2.2 Digital Hearing Aids
6.2.3 Analog Hearing Aids
6.3 Global Hearing Aids Market by Type of Hearing Loss
6.3.1 Market Overview
6.3.2 Sensorineural Hearing Loss
6.3.3 Conductive Hearing Loss
6.3.4 Mix Hearing Loss
6.4 Global Hearing Aids Market by Population Type
6.4.1 Market Overview
6.4.2 Children
6.4.3 Adults
6.4.3.1 Male
6.4.3.2 Female
6.4.4 Geriatrics
6.4.4.1 Male
6.4.4.2 Female
6.5 Global Hearing Aids Market by Treatment Channel
6.5.1 Market Overview
6.5.2 Public
6.5.3 Private
6.6 Global Hearing Aids Market by End User
6.6.1 Market Overview
6.6.2 Hospitals
6.6.3 Otology Clinics
6.6.4 Ambulatory Clinics
6.6.5 Others
6.7 Global Hearing Aids Market by Region
6.7.1 Market Overview
6.7.2 North America
6.7.3 Europe
6.7.4 Asia Pacific
6.7.5 Latin America
6.7.6 Middle East and Africa
7 North America Hearing Aids Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Hearing Aids Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Hearing Aids Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Hearing Aids Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Hearing Aids Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Clinical Trials Analysis
14.1 Analysis by Trial Registration Year
14.2 Analysis by Trial Status
14.3 Analysis by Trial Phase
14.4 Analysis by Therapeutic Area
14.5 Analysis by Geography
15 Funding Analysis
15.1 Analysis by Funding Instances
15.2 Analysis by Type of Funding
15.3 Analysis by Funding Amount
15.4 Analysis by Leading Players
15.5 Analysis by Leading Investors
15.6 Analysis by Geography
16 Partnership and Collaborations Analysis
16.1 Analysis by Partnership Instances
16.2 Analysis by Type of Partnership
16.3 Analysis by Leading Players
16.4 Analysis by Geography
17 Regulatory Framework
17.1 Regulatory Overview
17.1.1 US FDA
17.1.2 EU EMA
17.1.3 INDIA CDSCO
17.1.4 JAPAN PMDA
17.1.5 Others
18 Supplier Landscape
18.1 Abbott
18.1.1 Financial Analysis
18.1.2 Product Portfolio
18.1.3 Demographic Reach and Achievements
18.1.4 Mergers and Acquisitions
18.1.5 Certifications
18.2 WIDEX A/S
18.2.1 Financial Analysis
18.2.2 Product Portfolio
18.2.3 Demographic Reach and Achievements
18.2.4 Mergers and Acquisitions
18.2.5 Certifications
18.3 GN Store Nord A/S
18.3.1 Financial Analysis
18.3.2 Product Portfolio
18.3.3 Demographic Reach and Achievements
18.3.4 Mergers and Acquisitions
18.3.5 Certifications
18.4 Sonova
18.4.1 Financial Analysis
18.4.2 Product Portfolio
18.4.3 Demographic Reach and Achievements
18.4.4 Mergers and Acquisitions
18.4.5 Certifications
18.5 Sivantos
18.5.1 Financial Analysis
18.5.2 Product Portfolio
18.5.3 Demographic Reach and Achievements
18.5.4 Mergers and Acquisitions
18.5.5 Certifications
18.6 Microson
18.6.1 Financial Analysis
18.6.2 Product Portfolio
18.6.3 Demographic Reach and Achievements
18.6.4 Mergers and Acquisitions
18.6.5 Certifications
18.7 Horentek
18.7.1 Financial Analysis
18.7.2 Product Portfolio
18.7.3 Demographic Reach and Achievements
18.7.4 Mergers and Acquisitions
18.7.5 Certifications
18.8 RION CO. Ltd
18.8.1 Financial Analysis
18.8.2 Product Portfolio
18.8.3 Demographic Reach and Achievements
18.8.4 Mergers and Acquisitions
18.8.5 Certifications
18.9 Demant A/S
18.9.1 Financial Analysis
18.9.2 Product Portfolio
18.9.3 Demographic Reach and Achievements
18.9.4 Mergers and Acquisitions
18.9.5 Certifications
18.10 Amplifon
18.10.1 Financial Analysis
18.10.2 Product Portfolio
18.10.3 Demographic Reach and Achievements
18.10.4 Mergers and Acquisitions
18.10.5 Certifications
18.11 Starkey
18.11.1 Financial Analysis
18.11.2 Product Portfolio
18.11.3 Demographic Reach and Achievements
18.11.4 Mergers and Acquisitions
18.11.5 Certifications
18.12 MED-EL Medical Electronics
18.12.1 Financial Analysis
18.12.2 Product Portfolio
18.12.3 Demographic Reach and Achievements
18.12.4 Mergers and Acquisitions
18.12.5 Certifications
18.13 Cochlear Ltd.
18.13.1 Financial Analysis
18.13.2 Product Portfolio
18.13.3 Demographic Reach and Achievements
18.13.4 Mergers and Acquisitions
18.13.5 Certifications
18.14 SeboTek Hearing Systems, LLC.
18.14.1 Financial Analysis
18.14.2 Product Portfolio
18.14.3 Demographic Reach and Achievements
18.14.4 Mergers and Acquisitions
18.14.5 Certifications
18.15 Audina Hearing Instruments, Inc.
18.15.1 Financial Analysis
18.15.2 Product Portfolio
18.15.3 Demographic Reach and Achievements
18.15.4 Mergers and Acquisitions
18.15.5 Certifications
18.16 Arphi Electronics Private Limited
18.16.1 Financial Analysis
18.16.2 Product Portfolio
18.16.3 Demographic Reach and Achievements
18.16.4 Mergers and Acquisitions
18.16.5 Certifications
18.17 Sound One India
18.17.1 Financial Analysis
18.17.2 Product Portfolio
18.17.3 Demographic Reach and Achievements
18.17.4 Mergers and Acquisitions
18.17.5 Certifications
18.18 Amplicon
18.18.1 Financial Analysis
18.18.2 Product Portfolio
18.18.3 Demographic Reach and Achievements
18.18.4 Mergers and Acquisitions
18.18.5 Certifications
18.19 MED-EL Medical Electronics (Austria)
18.19.1 Financial Analysis
18.19.2 Product Portfolio
18.19.3 Demographic Reach and Achievements
18.19.4 Mergers and Acquisitions
18.19.5 Certifications
19 Global Hearing Aids Market- Distribution Model (Additional Insight)
19.1 Overview
19.2 Potential Distributors
19.3 Key Parameters for Distribution Partner Assessment
20 Key Opinion Leaders (KOL) Insights (Additional Insight)
21 Company Competitiveness Analysis (Additional Insight)
21.1 Very Small Companies
21.2 Small Companies
21.3 Mid-Sized Companies
21.4 Large Companies
21.5 Very Large Companies
22 Payment Methods (Additional Insight)
22.1 Government Funded
22.2 Private Insurance
22.3 Out-of-Pocket
23 Pricing Models and Strategies (Additional Insight)
23.1 Overview
23.2 Cost Model
23.3 Pricing Strategies
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