DUBLIN--(BUSINESS WIRE)--The "Global Hearing Aids Market: Focus on Products, Distribution Channels and 11 Countries' Data - Analysis and Forecast, 2019-2028" report has been added to ResearchAndMarkets.com's offering.
The global hearing aids market was estimated at $8.37 billion in 2018 and is anticipated to reach $16.34 billion by 2028.
Among the different hearing aids available in the market, hearing aid devices contributed to the highest market share of the global hearing aids market in 2018. However, hearing implants market is expected to witness the highest CAGR during the forecast period between 2019 and 2028. The product launches by the key players in the pipeline have attributed to the highest CAGR of the hearing implants market.
Based on the distribution channel, pharmacies occupied higher market share as compared to hospitals, audiology, and ENT clinics. Pharmacies projected a high CAGR for the forecast period 2019 and 2028, due to the introduction of over-the-counter products and increased awareness about the use of hearing aid devices.
The global hearing aids market is segmented by the geographical regions into North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World (RoW). The RoW region comprises the Middle East and Africa. North America is the leading contributor to the global hearing aids market with a contribution of about 36.09% of the total market share in 2018. The North America market is also expected to grow at a CAGR of 8.96% in the forecast period 2019-2028.
The global hearing aids market is majorly dominated by the U.S. and the European players. However, several emerging countries of Asia-Pacific and Latin America displayed a high potential to witness a robust growth rate during the period. The Australia-based company, Cochlear Limited offering cochlear implants or artificial ear contributed more than 50% of the market value in 2018 to the global hearing implants market.
The key players who have significant contributions to the global hearing aids market are Cochlear Limited, GN Store Nord A/S, MED-EL, Sonova Holding AG, Starkey Hearing Technologies, Widex A/S, William Demant Holding A/S, Microson, and RION Co. Ltd., among others.
Key Topics Covered:
1 Market Overview
1.1 History of Hearing Aids
1.2 Mechanism of a Hearing Aid
1.3 Factors Propelling the Market Growth
1.3.1 Prevalence of Hearing Loss
1.3.2 Demand for Compact Hearing Aid Devices
1.4 Classification of Hearing Aids Market
1.5 Future Market Potential of Hearing Aids
2 Market Dynamics
2.1 Impact Analysis
2.2 Market Drivers
2.2.1 Increasing Prevalence of Hearing Loss
2.2.2 Growing Incidence of Occupational Hazards
2.2.3 Rising Demand for Compact Hearing Aids
2.2.4 Rise in Self-Reported Cases of Hearing Loss
2.3 Market Restraints and Challenges
2.3.1 Complications Associated with Surgical Procedures
2.3.2 Unauthorized Sales of Hearing Aid Devices
2.3.3 Non-Uniform Reimbursement Scenario
2.4 Market Opportunities
2.4.1 Increasing Demand for Custom-made Hearing Aids
2.4.2 Product Launches
2.4.3 Brand Consolidation
3 Competitive Landscape
3.1 Key Strategies and Development
3.1.1 Product Launch and Enhancements
3.1.2 Collaborations, Partnership, Joint Ventures, and Agreements
3.1.3 Mergers and Acquisitions
3.1.4 Business Expansion
3.2 Market Share Analysis
3.3 Industry Attractiveness
4 Industry Insights
4.1 Regulatory Framework
4.1.1 Regulatory Framework in the U.S.
4.1.2 Regulatory Framework in Europe
4.1.3 Regulatory Framework in Asia-Pacific
4.2 List of Regulatory Bodies
5 Global Hearing Aids Market (by Product)
5.1 Assumptions and Limitations
5.3 Hearing Aid Devices
5.3.1 Global Hearing Aid Devices Market (by Type)
184.108.40.206 Behind-the-Ear (BTE)
220.127.116.11 In-the-Ear (ITE)
18.104.22.168 In-the-canal (ITC) and Completely-in-the-canal (CIC)
5.3.2 Global Hearing Aid Devices Market (by Region)
5.4 Hearing Implants
5.4.1 Global Hearing Implants Market (by Type)
22.214.171.124 Cochlear Implants
126.96.36.199 BAHA Implants
5.4.2 Global Hearing Implants Market (by Region)
6 Global Hearing Aids Market (by Distribution Channel)
6.2 Audiology and ENT Clinics
7 Global Hearing Aids Market (by Region)
7.2 North America
7.2.1 North America Hearing Aids Market (by Country)
188.8.131.52 The U.S.
184.108.40.206.1 Hearing Implants Market in the U.S.
220.127.116.11.1.1 Cochlear Implants Market in the U.S.
18.104.22.168.1.2 BAHA Implants in the U.S.
22.214.171.124.2 Hearing Aid Devices Market in the U.S.
7.3.1 Europe Hearing Aids Market (by Country)
126.96.36.199 The U.K.
7.4.1 Asia-Pacific Hearing Aids Market (by Country)
7.5 Latin America
7.5.1 Latin America Hearing Aids Market (by Country)
8 Company Profiles
- Arphi Electronics Private Limited
- Audina Hearing Instruments Inc.
- Cochlear Limited
- GN Store Nord A/S
- NewSound Hearing Aids
- Nurotron Biotechnology Co. Ltd.
- RION Co. Ltd.
- Sonova Holding AG
- Starkey Hearing Technologies
- Widex A/S
- William Demant Holding A/S
- Zounds Hearing Inc.
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