322-Washington,America - 23
Emergency Call- 24/7 support
Home » Healthcare » Medical Devices » HME-7240817
* For discount/customization and buying a particular chapter click here or write to us at email@example.com
Hearing aid is a small electronic device which is usually helps person with hearing disability to hear better and he can listen, understand, communicate and participates easily in daily activities. Hearing Aids can help people to hear easily both in noisy as well as quiet situations. Hearing aids are basically used for improving the hearing and speech comprehension of people who have problem in hearing that results from damage to small sensory cells in the inner ear which is called hair cells. This type of hearing damage is known as sensorineural hearing loss, this damage can occur due to diseases, injury from noise, aging or from certain side effects of medicines. The global hearing aids market is expected to grow at a CAGR of 6.3% during the forecast period of 2016-2023. The key trends for the global hearing aids market are rise in demand due to technological advancements such as noise reduction circuits, wireless and Bluetooth technology and feedback reduction , aesthetically appealing miniature devices and rising factors such as rising genetic factors, noise pollution levels, birth complications and ear infections. The major drivers which are fuelling the demand for hearing aids are rapid growth in aging population, high prevalence of hearing damage and technological advancements in hearing aids. The key restraining factors for the global hearing aids market are high cost of hearing aids and low penetration rate of hearing aids. Apart from this, the key challenge of the hearing aid market is unfavorable reimbursement scenario, however to overcome this challenge, market also have the opportunity which is growth potential offered by emerging countries.
The key driver for the global hearing aid market have rapid growth in aging population. Rising aging population, also cause various issues such as diseases such as blood pressure, hearing problems, diabetics, heart disease, cancer and strokes among the older people. Investments on healthcare will rise by healthcare problems among the aging population, various technological advancements in the healthcare field and rising awareness regarding health issues. . According to the, Population Reference Bureau in United States people aged 65 years or above in 2016 were around 46 million which is projected to get double near approx. 98 million by 2060. However, the geriatric population rate will rise from 15 % to nearly around 24 % by 2060. Thus, rapid growth of geriatric population will rise the demand of hearing aid devices which will increase the hearing aid market across the globe.
Source: OBRC analysis
The report on global hearing aids market is classified on the basis of products, type of hearing loss and end-users.
Products are classified further into:
Type of hearing loss within market is bifurcated into:
End-user is further sub-segmented as:
The revenue for the above product and end-user segments are specific to the Global Hearing Aids market. However, the total revenue of these product and end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up product, end-user and type of hearing loss segment.
The global Hearing Aids market has been geographically segmented into:
Geographically, Europe dominates the hearing aids market in terms of revenue during the forecast period of 2016-2023, followed by North America. Factors attributed for the growth in Europe are high purchasing power of the patients, rising prevalence of hearing loss and rising geriatric population base. However, rising awareness regarding these healthcare devices accounts to the large share of the region. Moreover, Asia-Pacific is expected to arise as the fastest growing region during the forecast period. Factors that are contributing for the growth of Asia-Pacific Region are rising awareness among the patients, increasing hearing-related problems, surge in the geriatric population and developing healthcare infrastructure and services due to rising government funding.
The global hearing aids market is segmented on the basis of product, type of hearing loss and end-user segment. On the basis of product segment, the market is further classified into hearing AID devices and hearing implants. The hearing aid devices are expected to account for the largest market share. On the basis on end-user segment the market is classified into adults and pediatrics. The adult segment is expected to hold largest share of global hearing aids market. On the basis of type of hearing loss segment the market is classifies as sensorineural hearing loss and conductive hearing loss. The sensorineural segment is expected to account for the largest share.
Some of the leading market players within global hearing aidsmarket are:
Merger & acquisition, partnership, collaboration and product launch are some of the strategies used by companies within global hearing aids market. Of these, collaboration, and merger & acquisition are primary strategies adopted by companies for increasing their market share.
For example: On January 2017,Starkey Hearing Technologies launch Trulink 4, Rechargeable ZPower Muse hearing aid, Surflink Mini Mobile and Acuity OS 2.
Company profiling showcased within global Hearing Aids market offers detailed analysis on company’s product portfolio, strategic initiatives, competitive landscape, market share and SCOT analysis.
Key Reason to buy the report:
How we are different from others:
At OBRC, our reports offer an extensive portfolio through completed market analysis along with market share, market size, and market segmentation. The DROC’s for the markets are well thought out and researched after consulting with industry experts. Global cloud enterprise content management market showcases market analysis through models like investment vs adoption, see saw analysis, and so on. The report also provides overview on product application, adoption and decision support within each segment. The company profiling for each major players within the market is showcased via SCOT analysis.
Key findings of the Global Hearing Aids market:
LIST OF TABLES
LIST OF FIGURES