DUBLIN--(BUSINESS WIRE)--The "Hearing Aids Market: US, 5EU Markets, Japan and RoW" report has been added to ResearchAndMarkets.com's offering.
Valued at more than $7.7bn in 2018, the Global Hearing Aids Market is growing at a CAGR) of nearly 7.5%
Growth will be driven by the increasing global prevalence of hearing loss. According to the World Health Organization (WHO), approximately 466 million people have disabling hearing loss worldwide, including 34 million who are children, and this number is expected to grow to nearly 630 million by 2030.
Hearing aids have been around for decades; yet, it is a substantially underpenetrated market. A key to market growth is expanding access to those who do not have access or cannot afford hearing aids, in developing and developed markets alike, as well as technological improvements and marketing to younger patients.
Major limiters to growth include high expense/out-of-pocket pay, limited access in emerging markets, stigma, low compliance, technological limitations, inconvenience and requirement for multiple visits to the audiologist.
Overall growth of the hearing aids market will be driven by strong benefits (eg improved quality of life, social/mental health); lowered prices/online/mass retailer accessibility; and steadily improving hearing aid technology or innovations (eg artificial intelligence, improved speech/sound clarity, less interference, directional hearing technology, rechargeability, miniaturization/invisible hearing aid designs, etc.).
Other market drivers include aggressive sales/marketing and education efforts, strong and growing retail/audiologist networks and audiology practice referrals targeting patients with all forms of hearing loss, and expanded access to more regulated/higher-quality yet lower-cost hearing aids (especially in the US market due to the new FDA OTC hearing aids law set to finalize by 2020).
This report provides the following useful information:
- Prevalence of hearing loss
- Hearing aid portfolios offered by leading manufacturers
- New and emerging hearing aid technologies
- Key trends, drivers and limiters
- Market and competitive analysis (including 5-year market forecast, 2018 market share by region, and corporate growth strategies).
Key Topics Covered:
i. Hearing loss prevalence
ii. Hearing aid technology
iii. Hearing aids market
a. Market drivers and limiters
b. Competition - market leaders
1. Overview of Hearing Loss and Hearing Aids
1.1 Ear anatomy and the hearing process
1.3 Types of hearing loss
1.5 Diagnosis and treatment
1.6 Hearing aid overview
2. Hearing Aid Technology
2.1 Hearing aid portfolios by major manufacturer
2.1.1 The GN Group/GN Store Nord A/S
2.1.2 Sonova Group
2.1.3 Starkey Hearing Technologies
2.1.4 William Demant Group
2.1.5 WS Audiology A/S (previously Sivantos Group)
2.2 FDA Reauthorization Act of 2017 creates new category of OTC hearing aids
2.3 Direct-to-consumer/lower-cost hearing aids
2.3.5 Ovation Hearing
2.4 Emerging technology
2.4.1 Decibel Therapeutics
2.4.2 Earlens Corp.
2.4.3 Frequency Therapeutics
3. Market Analysis
3.1 Hearing aids market
3.1.1 Market forecast: global
3.1.2 Market drivers and limiters
3.1.3 Market forecast: by region
3.1.4 US market
3.1.5 Five major EU markets
3.1.6 Japanese market
3.1.7 Rest of the world market
3.2 Competitive analysis
3.2.1 Market share: global
3.2.2 Market share: by region
3.2.3 Hearing aid revenues: by geography
.3 Financials and corporate growth strategies
3.3.1 The GN Group/GN Store Nord A/S
3.3.2 Sonova Group
3.3.3 William Demant Group
3.3.4 WS Audiology (previously Sivantos Group)
For more information about this report visit https://www.researchandmarkets.com/r/dk5dke