Market Overview:
The global Hearing Aids Market was valued at USD 6.34 billion in 2016 and is projected to reach USD 11.53 billion by 2025, growing at a CAGR of 6.87% from 2017 to 2025.
A hearing aid is a device designed to improve hearing by making sound audible to a person with hearing loss. Hearing aids are classified as medical devices in most countries, and regulated by the respective regulations.
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Market Dynamics:
- Market Drivers
1.1 Increasing Geriatric Population
1.2 Growing cases of hearing loss
1.3 Technological developments in hearing aid technology
2. Market Restraints
2.1 Low Penetration of Hearing Aids Owing to Their High Cost and Low Awareness
Market Segmentation:
- Global Hearing Aids Market, by Type of hearing loss:
1.1 Sensorineural Hearing Loss
1.2 Conductive Hearing Loss
2. Global Hearing Aids Market, by Type:
2.1 Adults
2.2 Pediatrics
3. Global Hearing Aids Market, by Extraction Product:
3.1 Hearing Aid Devices
3.2 Receiver-In-The-Ear RITE Hearing Aids
3.3 Behind-The-Ear BTE Hearing Aids
3.4 Canal Hearing Aids
3.5 In-The-Ear ITE Hearing Aids
3.6 Other Hearing Aid Devices
3.7 Hearing Implants
3.8 Cochlear Implants
3.9 Bone-Anchored Systems
4. Global Hearing Aids Market, by Region:
4.1 North America U.S., Canada, Mexico
4.2 Europe Germany, UK, France, Rest of Europe
4.3 Asia Pacific China, India, Japan, Rest of Asia Pacific
4.4 Latin America Brazil, Argentina, Rest of Latin America
4.5 Middle East & Africa
The major players in the market are as follows:
- Sonova
2. William Demant
3. Gn Store Nord
4. Cochlear
5. Sivantos
6. Starkey
7. Widex
8. Med-El
9. Zounds Hearing
10. Sebotek Hearing Systems
11. Audina Hearing Instruments
12. Rion
13. Horentek
14. Microson
15. Arphi Electronics
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Research Methodology of Planet Market Reports
Research study on the Hearing Aids Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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