Hearing Aid Market Report Expects the Market Value of USD 10.6 BN BY 2026
Posted On April 08, 2020
The Global Hearing Aid Market is anticipated to grow at a compound annual growth rate CAGR of 5.50% during 2020-2026 while it was close to USD 7.3 BN in 2019. The market will outgrow to USD 10.6 BN by 2026 as per the research conducted by Value Market Research. The global hearing aids market is anticipated to flourish at a profitable rate. This can be attributed to prime drivers such as ever-increasing adoption of these gadgets, rising awareness among the masses about technologically advanced devices for treating hearing impaired, and growing prevalence of hearing loss due to expanding aged population. Conscious efforts of economies across the globe to combat deafness with awareness programs and offerings grants and subsidies have also contributed to the surged demands of hearing aids.
A hearing aid is a battery-powered electronic gadget devised for hearing-impaired. These gadgets are tiny enough to be worn in or behind the ear. The key purpose of these devices is to promote better hearing abilities by making sounds louder, so that it can be audible clearly. The hearing aid is best suited for those who are struggling with a damaged nerve that links ear with the brain. And, the damage can come from disease, aging, a side-effect of medication or prolonged exposure to loud noises. Based on technology, there are two types of these gadgets are analog and digital. The key components of this gadget are, a microphone, amplifier and, receiver. Typically, the hearing aid candidacy is determined by a physician, who will also fit the aid based on the type and degree of the hearing loss being treated.
"Global Hearing Aid Market Report By Product Type (In-The-Ear Hearing Aids, Receiver-In-The-Ear, Hearing Aids, Behind-The-Ear Hearing Aids And Canal Hearing Aids), Technology Type (Digital Hearing Aids And Analog Hearing Aids) Channel Type (Retail Sales, Government Purchases And E-Commerce) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2019-2026" report begins with the market introduction, market snapshot followed by in-depth regional revenue/volume for the next six years. The report is segmented into chapters analysing all the segments individually and regional bifurcation is also done in detail.
By product type the hearing aid market is segmented into in-the-ear hearing aids, receiver-in-the-ear, hearing aids, behind-the-ear hearing aids and canal hearing aids. On the basis of technology type the hearing aid market is segmented into digital hearing aids and analog hearing aids. By channel type the hearing aid market is segmented into retail sales, government purchases and e-commerce.
Geographically the research study provides data on North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions. Each region is segregated into North America (North America, United State and Rest of North America), Europe (United Kingdom, France, Germany, Rest of Europe), Asia Pacific (China, Japan, India, Rest of Asia Pacific), Latin America (Brazil, Rest of Latin America) and Middle East & Africa This section provides the estimates of market by segment. This section provides the estimates of market by segment thus, providing valuable data to take strategic decisions.
The Report Segments Global Hearing Aid Market -
By Product Type
- In-The-Ear Hearing Aids
- Hearing Aids
- Behind-The-Ear Hearing Aids
- Canal Hearing Aids
By Technology Type
- Digital Hearing Aids
- Analog Hearing Aids
By Channel Type
- Retail Sales
- Government Purchases
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Players Profiled In the Report:
Benson Hearing, GN Store Nord A/S, Medtronic, MED-EL, Phonak, Sivantos Pte. Ltd., Starkey, WIDEX USA, INC. and William Demant Holding A/S among others.
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