San Francisco, 12 March 2019: The Report Hearing Aids Market Analysis By Product Type (In-The Ear, Receiver-In-The-Ear,
Behind-The-Ear, Canal Hearing Aids ITC, CIC, IIC), By Technology Type (Digital
And Analog Hearing Aid), And Segment Forecasts To 2024
The global hearing aids market was valued at USD 4.5 billion in 2015 and is expected to
reach a value of USD 6.5 billion by 2024, according to a new report by Grand
View Research, Inc. Key factors driving the market expansion include the
dramatic increase in aging population of 65 years & above and the
associated loss of hearing and growing demand for new-generation instruments
that are technologically enhanced and enriched equipment with better
aesthetics.
As per the data published by the WHO
(2013), the prevalence of the same disease in adults over age of 65 years is
expected to be five times more than that for the individuals below 65 years of
age. It also estimates that in the developing nations around 20% of the people
with hearing loss require hearing aids and less than 3% of them are expected to
be using it. Other factors leading to the hearing-related problems in
individuals are chronic ear infections, birth defects, exposure to high
decibels of noise, and prolonged listening to loud music through headphones.
Around 90% of the global chronic ear infections prevail in the South-West Asia,
Western Pacific, and African regions.
Education and increased health-related
awareness amongst the population also plays a crucial role in increasing the
demand across the world. The WHO assists the low- and middle-income countries
to develop programs for prevention and management of hearing loss.
Access Research Report of Hearing Aids Market@ www.grandviewresearch.com/industry-analysis/hearing-aids-market
Further Key Findings from the Study Suggest:
· In 2015, the behind-the-ear devices
accounted for the largest market share of about 47.1%. The high growth was
attributed to the high comfort levels, better connectivity, and high efficiency
of the product.
· The digital aids segment occupied the
majority of the share, accounting for about 85% in 2015. The segment continued
to dominate with a CAGR of 4.8% during the forecast period. The key factors for
growth include enhanced listening experience and high connectivity with smart
phones.
· In 2015, Europe held the majority of the
market share of about 38.3%. The major drivers for the growth of this industry
are an increase in the hearing disorders & deafness and the growing demand
for technologically advanced hearing solutions. The increase in the geriatric
population and the growing purchasing power of the patients also contributes to
the growth in the region.
· Asia Pacific is expected to emerge as the
fastest growing region with a CAGR of 5.4% during the forecast period. The
developing economies possess large pool of patients and exhibit high prevalence
of this disease.
· Some key players in the market are GN
ReSound, William Demant Holdings A/S, Sonova Holding AG, Sivantos Pte Ltd.
(Siemens), Widex A/S, and Starkey Hearing Technologies; they focus on
developing unique technically advanced devices that focus on enhanced listening
and miniaturization.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the
hearing aids market by product, technology and region:
Product Outlook (Market Revenue in USD
Million, 2013 - 2024)
·
In-the-ear hearing aid
·
Receiver-in-the-ear hearing aid
·
Behind-the-ear hearing aid
·
Canal hearing aids ITC, CIC and IIC
Technology Outlook (Market Revenue in USD
Million, 2013 - 2024)
·
Digital hearing aid
·
Analog hearing aid
Regional Outlook (Market Revenue in USD
Million, 2013 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East and Africa
Access Press Release of
Hearing Aids Market@ www.grandviewresearch.com/press-release/global-hearing-aids-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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