Global Hearing Aid Market Outlook to 2023: Ken Research

New Delhi, August 31, 2019: The report Titled “Global Hearing Aid Market Outlook to 2023 – By Hearing Aid Devices (By Ear and By Canal) and Hearing Implants (Cochlear implants and Hearing implants), By Region (Americas, Europe, Asia-Pacific and RoW), By Type of Distribution channel (Audiology & ENT clinics, Hospitals and Pharmacies)” provides a comprehensive analysis on Hearing Aid Market at Global level. The report covers various aspects including introduction, pricing analysis, market overview and genesis, trends and developments, Ecosystem, competitive landscape, government regulations and Country Snapshots. The report concludes with future market projection and analyst recommendations highlighting the major opportunities and cautions.

Market Overview

Global Hearing Aid market is at growth stage. Global Hearing Aid industry revenue has increased at a CAGR of 5.1% during the period 2013-2018. The market is gradually surging with more number of hearing loss patients, rising personal disposable income, growing demand for artificial intelligence and design modification in devices. The customers in the market are looking for comfort, convenience and customization at an affordable price. The customers are highly price sensitive with low and high bargaining power with respect to different countries.

The Global Hearing Aid market is being dominated by the Hearing Aid devices due to a reasonable price range and no surgical requirements. Mild to severe hearing loss patients are the hearing aid devices users. However, severe to profound may call for implantation surgery. Increase in hearing loss population and growing attention towards the devices which are not visible has led to an increase in the sales of customized hearing aid devices.

Global Hearing Aid Market Segmentation

By Type of Distribution Channel: Audiology and ENT clinics dominated the Hearing Aid market and contributed a major share in terms of generating revenues in 2018. Audiology and ENT clinics are the most preferable distribution channel as audiologists provide subscriptions and give recommendations according to the type of hearing loss. Hospitals accounted second highest revenue share, whereas Pharmacies accounted a mere revenue share in 2018.

By Region: The major revenue share of hearing aid market is held by Americas due to the purchasing power of individuals to spend on hearing aid devices. This makes the adoption of hearing aids easier. Europe holds the second highest market share, followed by Asia- Pacific and then Middle-East and Africa. APAC and Middle-East and Africa are expected to grow in coming future.

By Hearing Aid Devices Type: The Global Hearing Aid market in 2018 was dominated by Ear segment. People prefer to choose amongst price, comfort, quality and style of hearing aid device according to the recommendations given by their audiologists. By Canal has accounted second highest revenue share as the devices are customized and are available at higher prices.

By Ear Type of Devices: BTE accounted the highest revenue share in 2018 as the prices of BTE devices are lower when compared to the RIC and ITE devices. RIC hearing aid devices has the second highest revenue share. ITE devices had the third largest revenue share in 2018.

By Canal Type of Devices: IIC and CIC had the largest share by revenue in 2018 as they are customizable devices and are fitted in the ear canal. ITC hearing aid devices has accounted second highest revenue share in the year 2018.

By Region (Hearing Aid Devices): The major share of hearing aid devices market is held by Americas due to the purchasing power of individuals to spend on hearing aid devices and introduction of OTC devices. Europe holds the second highest revenue  share due to a higher number of hearing loss patients, which was followed by Asia- Pacific and then Middle-East and Africa. APAC and Middle-East and Africa are expected to grow in coming future.

By Hearing Implants Type: The Global Hearing Implants market in 2018 was dominated by the cochlear implant segment. Cochlear implants are largely preferred by hearing loss patients due to the success rate of implantation process and less surgical complications. BAHA implants has accounted second highest revenue share in hearing implants segment.

By Region (Hearing Implants): Americas dominated the Hearing Implants market and contributed a major share in terms of generating revenues in 2018. Europe holds the second highest revenue share which is followed by Asia-Pacific region. Some of the countries in APAC have tender programs for cochlear implants which can become one of a reason for higher growth in revenue in coming years. Rest of the world (RoW) holds a mere share in the revenue from hearing implants segment in the year 2018.

Competitive Landscape: The Global Hearing Aid market is moderately concentrated. The market has numerous players operating in the market. The major players in the market are Sonova, William Demant, Widex, Siavntos, GN Hearing, Starkey, MED-EL and Cochlear Limited. These players compete on the basis of Price, Brand Value, Product Differentiation, Technological advancements, Geographical Presence

Global Hearing Aid market Future Outlook: Global Hearing Aid market in terms of revenue will increase at a CAGR of 5.4% during the period 2018 – 2023E. The demand for hearing aids will be further augmented with the growth in the Hearing Loss patients. Moreover, rising reimbursement policies, increasing number of hearing aid dispensers and artificial intelligence can become major growth drivers in the coming future. The market is expected to grow in APAC and Middle-East and Africa region due to the higher untapped user base.

Key Segments Covered

By Type of Hearing Aid

Hearing Aid Devices

Hearing Implants

By Region

Americas

Europe

Asia-Pacific

RoW

By Type of Distribution Channel

Audiology and ENT Clinics

Hospitals

Pharmacies

By Type of Hearing Aid Devices

By Ear

By Canal

By Type of Hearing Implants

Cochlear

BAHA

By Hearing Implants in Region

Americas

Europe

Asia-Pacific

RoW

By Ear type of Hearing Device

BTE

RIC

ITE

By Canal type of Hearing Device

IIC and CIC

ITC

By Hearing Aid Devices in Region

Americas

Europe

Asia-Pacific

RoW

Key Target Audience

Hearing Aid Manufacturing Companies

International Manufacturers

Domestic Manufacturers

Private Equity Investors

Hospitals and ENT clinics

Government/ Regulatory Authorities

Time Period Captured in the Report:

Historical Period: 2013 – 2018

Forecast Period: 2019E – 2023E

Companies Covered:

Sonova Holdings

William Demant Holdings

GN Hearing

Widex

Sivantos

Starkey Hearing Technologies

Cochlear Limited

MED-EL

Rion Co. Ltd.

Zounds Hearing Inc.

Audina Hearing instruments

Microson

NewSound Hearing Aids

Key Topics Covered in the Report

Global Hearing Aid Market Overview and Genesis

Global Hearing Aid Market Size, 2013 – 2018

Global Hearing Aid Market Ecosystem

Global Hearing Aid Market Value Chain Analysis

Global Hearing aid devices and Hearing Implants Pricing Analysis

Global Hearing Aid Market Size by Revenue (2013 – 2018)

Global Hearing Aid Market Segmentation (2018)

By Type (Hearing Aid Devices and Hearing Implants)

Global Hearing Aid Devices Market Segmentation by type (By Ear and By Canal).

Global Hearing Aid Devices Market Segmentation by Ear type (ITE, BTE and RIC).

Global Hearing Aid Devices Market Segmentation by Canal type (IIC, CIC and ITC).

Global Hearing Aid Devices Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW)

Global Hearing Implants Market Segmentation by Type (Cochlear and BAHA).

Global Hearing Implants Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW)

Global Hearing Aid Market Segmentation by Distribution Channel (Audiology & ENT clinics, Hospitals and Pharmacies)

Global Hearing Aid Market Trends and Developments

Global Hearing Aid Market Snapshot of Major Countries in, 2013-2018

Global Hearing Aid Market Government Regulations, Certification and Labeling Practices

Global Hearing Aid Market Investment Scenario

Global Hearing Aid Market Mergers and Acquisitions of the companies, 2013-2018

Global Hearing Aid Market Trends and Developments

Global Hearing Aid Industry Porter’s Five Forces

Global Hearing Aid Market Competitive Landscape

Global Hearing Aid Market Company Profile of Major Players

Global Hearing Aid Market Future Outlook and Projections, 2019 – 2023E

Global Hearing Aid Market Future Outlook and Projections,  2019 – 2023E

Analyst Recommendations

For more information on the research report, refer to below link:

Global Hearing Aid Market Research Report

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