$7.7 Billion Hearing Aids Markets - Global Forecast to 2023

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Oct 16, 2019, 11:45 ET

DUBLIN, Oct. 16, 2019 /PRNewswire/ -- The "Hearing Aids Market US, 5EU Markets, Japan, and RoW" report has been added to ResearchAndMarkets.com's offering.

Valued at more than $7.7bn in 2018, the Global Hearing Aids Market is growing at a healthy pace - in the upper single-digits, at a compound annual growth rate (CAGR) of nearly 7.5%.

Growth will be driven by the increasing global prevalence of hearing loss. According to the World Health Organization (WHO), approximately 466 million people have disabling hearing loss worldwide, including 34 million who are children, and this number is expected to grow to nearly 630 million by 2030.

Hearing aids have been around for decades; yet, it is a substantially underpenetrated market. A key to market growth is expanding access to those who do not have access or cannot afford hearing aids, in developing and developed markets alike, as well as technological improvements and marketing to younger patients.

Major limiters to growth include high expense/out-of-pocket pay, limited access in emerging markets, stigma, low compliance, technological limitations, inconvenience and requirement for multiple visits to the audiologist.

Overall growth of the hearing aids market will be driven by strong benefits (eg improved quality of life, social/mental health); lowered prices/online/mass retailer accessibility; and steadily improving hearing aid technology or innovations (eg artificial intelligence, improved speech/sound clarity, less interference, directional hearing technology, rechargeability, miniaturization/invisible hearing aid designs, etc.).

Other market drivers include aggressive sales/marketing and education efforts, strong and growing retail/audiologist networks and audiology practice referrals targeting patients with all forms of hearing loss, and expanded access to more regulated/higher-quality yet lower-cost hearing aids (especially in the US market due to the new FDA OTC hearing aids law set to finalize by 2020).

This report provides the following useful information:

Prevalence of hearing loss
Hearing aid portfolios offered by leading manufacturers
New and emerging hearing aid technologies
Key trends, drivers and limiters
Market and competitive analysis (including 5-year market forecast, 2018 market share by region, and corporate growth strategies).

Key Topics Covered:

Executive Summary

Hearing loss prevalence
Hearing aid technology
Hearing aids market
Market drivers and limiters
Competition - market leaders
Methodology
Bibliography

Hearing aids market forecast ($m), 2018-23

Overview of Hearing Loss and Hearing Aids

Ear anatomy and the hearing process
Prevalence
Types of hearing loss
Causes
Diagnosis and treatment
Hearing aid overview
Bibliography

Exhibit 1-1: Human ear anatomy

Examples of hearing aid styles
Differences between hearing aids and cochlear implants
Otofonix's low cost APEX digital hearing amplifier

Hearing Aid Technology

Hearing aid portfolios by major manufacturer
The GN Group/GN Store Nord A/S
Sonova Group
Starkey Hearing Technologies
William Demant Group
WS Audiology A/S (previously Sivantos Group)
FDA Reauthorization Act of 2017 creates new category of OTC hearing aids
Direct-to-consumer/lower-cost hearing aids
Avento
Audicus
Eargo
Miracle-Ear
Ovation Hearing
Emerging technology
Decibel Therapeutics
Earlens Corp
Frequency Therapeutics
Bibliography

Leading hearing aid brands, by manufacturer

The ReSound LiNX 3D and ReSound Smart 3D app
The new Phonak Audo Marvel
The 100% invisible Lync
The Moxi All and Insera in-the-ear hearing aids
Starkey Hearing & Activity Tracking hearing aid
Starkey Invisible-in-Canal Hearing Aid
The Zerena 9 miniRITE rechargeable hearing aid
Selected Opn hearing aids
The new Kaizn Personal AI Assistant
The new Signia Styletto Connect
The low-cost Audicus Clara
The Eargo hearing aid
Images of the cochlea and stereocilia
The Earlens hearing aid

Market Analysis

Hearing aids market
Market forecast: global
Market drivers and limiters
Market forecast: by region
US market
Five major EU markets
Japanese market
Rest of the world market
Competitive analysis
Market share: global
Market share: by region
Hearing aid revenues: by geography
Financials and corporate growth strategies
The GN Group/GN Store Nord A/S
Sonova Group
William Demant Group
WS Audiology (previously Sivantos Group)
Bibliography

Exhibit 3-1: Hearing aids market forecast ($m), 2018-23

Hearing aids market, forecast sales by region ($m), 2018-23
Hearing aids market, global share by supplier ($m), 2018
Hearing aids market, estimated share by supplier and region, 2018
Manufacturers' hearing aid revenues by geography, 2018
The GN Group/GN Store Nord, revenues by segment, FY2018
Sonova, revenues by segment, FY2018
William Demant, revenues by segment, FY2018

Appendix A: company listing

For more information about this report visit https://www.researchandmarkets.com/r/iiqgdy

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