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Hearing Aid Market Report by Product Type (Hearing Devices, Hearing Implants), Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss), Patient Type (Adults, Pediatrics), Technology Type (Analog, Digital), End-User (Hospitals, ENT Clinics and Audiology Centres, Individual, and Others), and Region 2024-2032
Market Report I 2024-03-02 I 142 Pages I IMARC Group
The global hearing aid market size reached US$ 6.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.3 Billion by 2032, exhibiting a growth rate (CAGR) of 5.6% during 2024-2032.
A hearing aid is a small battery-powered electronic device that is used to improve hearing and is worn in or behind the ear. It is used to amplify the sounds to listen, communicate and participate in the daily activities by individuals with low hearing abilities. A hearing aid consists of an amplifier, microphone and a speaker that magnifies sound vibrations entering the ear, perceive larger vibrations and convert them into neural signals that are passed into the brain. The devices are available in a wide range of designs and are customized according to the requirements of the user. For instance, the device may have analog or digital technology for amplification of sound or have earpieces or earmolds to direct the flow of soundwaves and enhance the output quality.
Global Hearing Aid Market Trends:
The rising geriatric population across the globe is one of the key factors driving the growth of the market. Old age is often characterized by a gradual hearing loss, which increases the product demand from this section of the population. Furthermore, there has been a significant increase in the incidence of hearing disabilities among the masses. A significant number of cases, especially that of infants, remain untreated, which then results in various psychological and speaking disabilities. Additionally, the introduction of aesthetically appealing designs, coupled with the launch of innovative product variations such as waterproof hearing aids, is also contributing to the market growth. The implementation of digital technology coupled with the introduction of products that integrate cochlear implant and hearing aid technology to overcome the high-frequency hearing loss is expected to further create a positive outlook for the market. Other factors such as rising noise pollution levels, growing cases of birth complications and ear infections, increasing disposable income and enhanced focus on research and development (R&D) by manufacturers are also expected to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hearing aid market report, along with forecasts at the global and regional level from 2024-2032. Our report has categorized the market based on product type, hearing loss, patient type, technology type and end-user.
Breakup by Product Type:
Hearing Devices
Behind-the-Ear (BTE)
Receiver-in-the Ear (RITE)
In-the-Ear (ITE)
Canal Hearing Aids (CHA)
Others
Hearing Implants
Cochlear Implants
BAHA Implants
The market has been bifurcated on the basis of the product type, which includes hearing devices and hearing implants, wherein hearing devices are the most popular product type, which has been further categorized as behind-the-ear (BTE), receiver-in-the ear (RITE), in-the-ear (ITE), canal hearing aids (CHA), and others.
Breakup by Hearing Loss:
Sensorineural Hearing Loss
Conductive Hearing Loss
Based on the hearing loss, the market has been segmented into sensorineural and conductive hearing loss.
Breakup by Patient Type:
Adults
Pediatrics
On the basis of the patient type, the market has been segregated into adults and pediatrics. Currently, hearing aids are most commonly bought for adult patients.
Breakup by Technology Type:
Analog
Digital
The report has analyzed the market according to the technology type, which mainly consists of analog and digital.
Breakup by End-User:
Hospitals
ENT Clinics and Audiology Centres
Individual
Others
Based on the end user, the market has been categorized as hospitals, ENT clinics and audiology centres, individual, and others.
Breakup by Region:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America
On the geographical front, the market has been divided into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe represents the largest market for hearing aids, holding the majority of the total market share.
Competitive Landscape:
The report has also analyzed the competitive landscape of the market with some of the key players being Sonova Holding AG, Starkey Laboratories, Inc., MED-EL GmbH, Demant A/S, WS Audiology A/S, Widex A/S, Sivantos Group, GN Store Nord A/S, Cochlear Limited, SeboTek Hearing Systems LLC, ReSound Group (GN Hearing A/S), AGX Hearing (Audigy Group), Audina Hearing Instruments, Inc., Lisound Hearing Aid (Fuzhou) Co., Ltd., Banglijian, GlaxoSmithKline plc, Benson Hearing, etc.
Key Questions Answered in This Report
1. What was the size of the global hearing aid market in 2023?
2. What is the expected growth rate of the global hearing aid market during 2024-2032?
3. What are the key factors driving the global hearing aid market?
4. What has been the impact of COVID-19 on the global hearing aid market?
5. What is the breakup of the global hearing aid market based on the product type?
6. What is the breakup of the global hearing aid market based on the hearing loss?
7. What is the breakup of the global hearing aid market based on the patient type?
8. What is the breakup of the global hearing aid market based on the technology type?
9. What is the breakup of the global hearing aid market based on the end-user?
10. What are the key regions in the global hearing aid market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Hearing Aid Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product Type
5.5 Market Breakup by Hearing Loss
5.6 Market Breakup by Patient Type
5.7 Market Breakup by Technology Type
5.8 Market Breakup by End-User
5.9 Market Breakup by Region
5.10 Market Forecast
6 Market Breakup by Product Type
6.1 Hearing Devices
6.1.1 Market Trends
6.1.2 Major Types
6.1.2.1 Behind-the-Ear (BTE)
6.1.2.2 Receiver-in-the Ear (RITE)
6.1.2.3 In-the-Ear (ITE)
6.1.2.4 Canal Hearing Aids (CHA)
6.1.2.5 Others
6.1.3 Market Forecast
6.2 Hearing Implants
6.2.1 Market Trends
6.2.2 Major Types
6.2.2.1 Cochlear Implants
6.2.2.2 BAHA Implants
6.2.3 Market Forecast
7 Market Breakup by Hearing Loss
7.1 Sensorineural Hearing Loss
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Conductive Hearing Loss
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Patient Type
8.1 Adults
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Pediatrics
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Technology Type
9.1 Analog
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Digital
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by End-User
10.1 Hospitals
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 ENT Clinics and Audiology Centres
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 Individual
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Others
10.4.1 Market Trends
10.4.2 Market Forecast
11 Market Breakup by Region
11.1 Europe
11.1.1 Market Trends
11.1.2 Market Forecast
11.2 North America
11.2.1 Market Trends
11.2.2 Market Forecast
11.3 Asia Pacific
11.3.1 Market Trends
11.3.2 Market Forecast
11.4 Middle East and Africa
11.4.1 Market Trends
11.4.2 Market Forecast
11.5 Latin America
11.5.1 Market Trends
11.5.2 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porter's Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Sonova Holding AG
16.3.2 Starkey Laboratories, Inc.
16.3.3 MED-EL GmbH
16.3.4 Demant A/S
16.3.5 WS Audiology A/S
16.3.6 Widex A/S
16.3.7 Sivantos Group
16.3.8 GN Store Nord A/S
16.3.9 Cochlear Limited
16.3.10 SeboTek Hearing Systems LLC
16.3.11 ReSound Group (GN Hearing A/S)
16.3.12 AGX Hearing (Audigy Group)
16.3.13 Audina Hearing Instruments, Inc.
16.3.14 Lisound Hearing Aid (Fuzhou) Co., Ltd.
16.3.15 Banglijian
16.3.16 GlaxoSmithKline plc
16.3.17 Benson Hearing
Figure 1: Global: Hearing Aid Market: Major Drivers and Challenges
Figure 2: Global: Hearing Aid Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Hearing Aid Market: Breakup by Product Type (in %), 2023
Figure 4: Global: Hearing Aid Market: Breakup by Hearing Loss (in %), 2023
Figure 5: Global: Hearing Aid Market: Breakup by Patient Type (in %), 2023
Figure 6: Global: Hearing Aid Market: Breakup by Technology Type (in %), 2023
Figure 7: Global: Hearing Aid Market: Breakup by End-User (in %), 2023
Figure 8: Global: Hearing Aid Market: Breakup by Region (in %), 2023
Figure 9: Global: Hearing Aid Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 10: Global: Hearing Aid Industry: SWOT Analysis
Figure 11: Global: Hearing Aid Industry: Value Chain Analysis
Figure 12: Global: Hearing Aid Industry: Porter's Five Forces Analysis
Figure 13: Global: Hearing Aid (Hearing Devices) Market: Sales Value (in Million US$), 2018 & 2023
Figure 14: Global: Hearing Aid (Hearing Devices) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 15: Global: Hearing Aid (Hearing Implants) Market: Sales Value (in Million US$), 2018 & 2023
Figure 16: Global: Hearing Aid (Hearing Implants) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 17: Global: Hearing Aid (Sensorineural Hearing Loss) Market: Sales Value (in Million US$), 2018 & 2023
Figure 18: Global: Hearing Aid (Sensorineural Hearing Loss) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 19: Global: Hearing Aid (Conductive Hearing Loss) Market: Sales Value (in Million US$), 2018 & 2023
Figure 20: Global: Hearing Aid (Conductive Hearing Loss) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 21: Global: Hearing Aid (Adults) Market: Sales Value (in Million US$), 2018 & 2023
Figure 22: Global: Hearing Aid (Adults) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 23: Global: Hearing Aid (Pediatrics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 24: Global: Hearing Aid (Pediatrics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 25: Global: Hearing Aid (Analog) Market: Sales Value (in Million US$), 2018 & 2023
Figure 26: Global: Hearing Aid (Analog) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 27: Global: Hearing Aid (Digital) Market: Sales Value (in Million US$), 2018 & 2023
Figure 28: Global: Hearing Aid (Digital) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 29: Global: Hearing Aid (Hospitals) Market: Sales Value (in Million US$), 2018 & 2023
Figure 30: Global: Hearing Aid (Hospitals) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 31: Global: Hearing Aid (ENT Clinics and Audiology Centres) Market: Sales Value (in Million US$), 2018 & 2023
Figure 32: Global: Hearing Aid (ENT Clinics and Audiology Centres) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 33: Global: Hearing Aid (Individual) Market: Sales Value (in Million US$), 2018 & 2023
Figure 34: Global: Hearing Aid (Individual) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 35: Global: Hearing Aid (Other End-Users) Market: Sales Value (in Million US$), 2018 & 2023
Figure 36: Global: Hearing Aid (Other End-Users) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 37: Europe: Hearing Aid Market: Sales Value (in Million US$), 2018 & 2023
Figure 38: Europe: Hearing Aid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 39: North America: Hearing Aid Market: Sales Value (in Million US$), 2018 & 2023
Figure 40: North America: Hearing Aid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 41: Asia Pacific: Hearing Aid Market: Sales Value (in Million US$), 2018 & 2023
Figure 42: Asia Pacific: Hearing Aid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 43: Middle East and Africa: Hearing Aid Market: Sales Value (in Million US$), 2018 & 2023
Figure 44: Middle East and Africa: Hearing Aid Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 45: Latin America: Hearing Aid Market: Sales Value (in Million US$), 2018 & 2023
Figure 46: Latin America: Hearing Aid Market Forecast: Sales Value (in Million US$), 2024-2032
Table 1: Global: Hearing Aid Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Hearing Aid Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
Table 3: Global: Hearing Aid Market Forecast: Breakup by Hearing Loss (in Million US$), 2024-2032
Table 4: Global: Hearing Aid Market Forecast: Breakup by Patient Type (in Million US$), 2024-2032
Table 5: Global: Hearing Aid Market Forecast: Breakup by Technology Type (in Million US$), 2024-2032
Table 6: Global: Hearing Aid Market Forecast: Breakup by End-User (in Million US$), 2024-2032
Table 7: Global: Hearing Aid Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: Hearing Aid Market Structure
Table 9: Global: Hearing Aid Market: Key Players
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