Worldwide Hearing Aids Industry to 2026 - Featuring Sonova Holding, GN Store Nord & Widex Among Others

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Aug 17, 2020, 16:15 ET

DUBLIN, Aug. 17, 2020 /PRNewswire/ -- The "Global Hearing Aids Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and their Market Strategies" report has been added to ResearchAndMarkets.com's offering.

This report is based on a survey conducted to analyze the buying patterns, consumer behavior, and impact of pricing on buying decisions. The report also provides insights into the marketing strategies and steps taken by the companies to retain their market position in the local as well as global market. The study also provides insights into the factors affecting the buying decisions, consumer preferences, and the demographic factors promoting the growth of the products of the global hearing aids market.

Hearing loss is one of the major health issues in the world. The hearing loss problems are more common in countries with low and middle-incomes. A person who is not able to hear and a person with normal hearing are both believed to have hearing loss. Hearing loss greater than 40 dB in the better hearing ear in adults and a hearing loss greater than 30 dB in the better hearing ear in children is considered as disabling hearing loss. Hearing loss is categorized into mild, moderate, severe, or profound depending upon its intensity. People with hearing loss ranging from mild to severe can usually communicate through spoken language and are benefited from hearing aids. Hearing aids are small electronic devices primarily used for improving the hearing and speech comprehension of people who have sensorineural hearing loss. There are different types of hearing aids available in the market such as behind-the-ear (BTE), in-the-ear (ITE), receiver-in-ear (RIE). A hearing aid can improve the lives of people suffering from hearing loss at greater levels.

Growing Geriatric Population Augment the Growth of the Global Hearing Aids Market

According to The author, the global hearing aids market was valued at USD 8.06 billion in 2019 and it is expected to grow with a CAGR of 6.6% over the forecast period of 2020-2026. The rise in the number of old age population suffering from hearing loss is the major driver for the global hearing aids market. The population aged over 65 years and above is majorly affected by hearing loss and is the main consumers of sleep aid products. Moreover, the growing adoption of hearing aids devices by the people suffering from hearing loss is augmenting the demand for them. In addition, increasing awareness regarding technological advances in hearing aids devices is further boosting the growth of the global hearing aids market.

The United States, China, and Germany among Top Markets for Hearing Aids

According to the findings in the report, the United States and China along with the countries in Europe are the top markets for hearing aids. Europe and North America together make more than 63% of the total sales of hearing aids in the world. The US is the leading country in terms of sales in the global hearing aids market followed by China and Germany. The higher awareness regarding hearing aids and the growing geriatric population are the major drivers for the sale of hearing aids devices in western countries. Moreover, a larger part of the population suffering from hearing loss and the availability of various products in the market are the major factors contributing to the growth of the Chinese hearing aids market. On the other hand, the sale of hearing aids in developing countries such as India is anticipated to grow rapidly. Factors including growing awareness regarding hearing aids devices and the number of government initiatives to improve public healthcare are majorly influencing the sale of hearing aids in developing countries.

North America Generated Highest Revenue from Hearing Aids

Based on the geographical regions, North America generated the highest revenue in the global hearing aids market. The growing geriatric population suffering from hearing loss is the major driving factor for the North American hearing aids market. The old-age population is majorly affected by hearing loss problems and it is the major consumer group for hearing aids devices. Moreover, greater awareness regarding hearing aids devices and technological advances in the devices is also supporting the growth of the market in North America. Furthermore, the Asia Pacific region is projected to grow with the fastest rate owing to the growing awareness regarding hearing loss and its treatment. The improving the healthcare sector in the developing nations in the Asia Pacific is offering favorable business opportunities to the major players in the hearing aids market.

Key Topics Covered:

1. Introduction
1.1. Report Description
1.1.1. Segmentation and Research Scope
1.1.2. Definition, Abbreviations, and Assumptions
1.2. Research Methodology
1.2.1. Methodology
1.2.2. Research Methodology: An Outline
1.3. Research Approaches

2. Executive Summary
2.1. Global Trends in Hearing Aids Market
2.2. Top 10 Country Markets and Revenue Pockets
2.3. General Research Findings

3. Market Overview & Competitiveness
3.1. Introduction
3.2. DRO Analysis
3.2.1. Drivers
3.2.1.1. Rise in the geriatric population
3.2.1.2. Higher prevalence of hearing loss
3.2.1.3. Growing awareness about technologically advanced devices for hearing loss
3.2.2. Restraints
3.2.2.1. Low penetration of hearing aids
3.2.3. Opportunities
3.2.3.1. Growing demand for hearing aids from developing economies
3.3. Analysis of COVID-19 impact on the Hearing Aids Market
3.3.1. Impact of COVID-19 on the Sales of Hearing Aids Market 2020-2026
3.3.2. Impact of COVID-19 on the Hearing Aids Market by Region
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. RoW
3.4. Porter's Five Forces Analysis
3.5. Value Chain Analysis of Hearing Aids Market
3.6. Product Placement and Positioning Matrices
3.6.1. Growth Share Matrix
3.6.2. Product Placement Matrix
3.6.3. Product Life Cycle Analysis

4. Company Profiles and Competitive Landscape
4.1. Competitive Landscape and Top Recent Developments
4.2. Leading Company Profiles and Their Products in the Global Hearing Aids
4.2.1. Sonova Holding AG
4.2.1.1. Overview
4.2.1.2. Company Snapshot
4.2.1.3. Financial Snapshot
4.2.1.4. Product Portfolio
4.2.1.5. Recent Developments
4.2.2. GN Store Nord A/S
4.2.2.1. Overview
4.2.2.2. Company Snapshot
4.2.2.3. Financial Snapshot
4.2.2.4. Product Portfolio
4.2.2.5. Recent Developments
4.2.3. Widex A/S
4.2.3.1. Overview
4.2.3.2. Company Snapshot
4.2.3.3. Financial Snapshot
4.2.3.4. Product Portfolio
4.2.3.5. Recent Developments
4.2.4. Starkey Laboratories, Inc.
4.2.4.1. Overview
4.2.4.2. Company Snapshot
4.2.4.3. Financial Snapshot
4.2.4.4. Product Portfolio
4.2.4.5. Recent Developments
4.2.5. Demant A/S
4.2.5.1. Overview
4.2.5.2. Company Snapshot
4.2.5.3. Financial Snapshot
4.2.5.4. Product Portfolio
4.2.5.5. Recent Developments
4.2.6. Sivantos Group
4.2.6.1. Overview
4.2.6.2. Company Snapshot
4.2.6.3. Financial Snapshot
4.2.6.4. Product Portfolio
4.2.6.5. Recent Developments
4.2.7. Cochlear Limited
4.2.7.1. Overview
4.2.7.2. Company Snapshot
4.2.7.3. Financial Snapshot
4.2.7.4. Product Portfolio
4.2.7.5. Recent Developments
4.2.8. MED-EL Elektromedizinische Gerte GmbH
4.2.8.1. Overview
4.2.8.2. Company Snapshot
4.2.8.3. Financial Snapshot
4.2.8.4. Product Portfolio
4.2.8.5. Recent Developments
4.2.9. RION Co., Ltd.
4.2.9.1. Overview
4.2.9.2. Company Snapshot
4.2.9.3. Financial Snapshot
4.2.9.4. Product Portfolio
4.2.9.5. Recent Developments
4.2.10. SeboTek Hearing Systems, LLC
4.2.10.1. Overview
4.2.10.2. Company Snapshot
4.2.10.3. Financial Snapshot
4.2.10.4. Product Portfolio
4.2.10.5. Recent Developments

5. Global Hearing Aids Market, by Segmentation
5.1. Global Hearing Aids Market, By Product
5.1.1. Behind-the-ear
5.1.2. In-the-ear
5.1.3. Receiver-in-ear
5.2. Global Hearing Aids Market, by Technology Type
5.2.1. Digital
5.2.2. Analog

6. Global Hearing Aids Market, by Region
6.1. Overview
6.2. North America Hearing Aids Market
6.3. Europe Hearing Aids Market
6.4. Asia-Pacific Hearing Aids Market
6.5. RoW Hearing Aids Market

For more information about this report visit https://www.researchandmarkets.com/r/7sazrr

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