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
Corporate Comm India (CCI Newswire)
