Global $10.5Bn Hearing Aid Market Outlook 2019-2024: Industry Trends, Share, Size, Growth & Opportunities - ResearchAndMarkets.com

DUBLIN--()--The "Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.

Key Questions Answered in this Report

  • How has the global hearing aid market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global hearing aid industry?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the hearing loss?
  • What is the breakup of the market based on the patient type?
  • What is the breakup of the market based on the technology type?
  • What is the breakup of the market based on the end-user?
  • What are the various stages in the value chain of the global hearing aid industry?
  • What are the key driving factors and challenges in the global hearing aid industry?
  • What is the structure of the global hearing aid industry and who are the key players?
  • What is the degree of competition in the global hearing aid industry?

The global hearing aid market size reached a value of US$ 7.4 Billion in 2018. Looking forward, the market is projected to reach a value of US$ 10.5 Billion by 2024, registering a CAGR of around 6% during 2019-2024.

The rising geriatric population across the globe is one of the key factors driving the growth of the market. Old age is often characterized by a gradual hearing loss, which increases the product demand from this section of the population. Furthermore, there has been a significant increase in the incidence of hearing disabilities among the masses. A significant number of cases, especially that of infants, remain untreated, which then results in various psychological and speaking disabilities.

Additionally, the introduction of aesthetically appealing designs, coupled with the launch of innovative product variations such as waterproof hearing aids, is also contributing to the market growth. The implementation of digital technology coupled with the introduction of products that integrate cochlear implant and hearing aid technology to overcome the high-frequency hearing loss is expected to further create a positive outlook for the market.

Other factors such as rising noise pollution levels, growing cases of birth complications and ear infections, increasing disposable income and enhanced focus on research and development (R&D) by manufacturers are also expected to drive the market growth.

Historical, Current and Future Market Trends

Market Breakup by Product Type

  • Hearing Devices
  • Behind-the-Ear (BTE)
  • Receiver-in-the Ear (RITE)
  • In-the-Ear (ITE)
  • Canal Hearing Aids (CHA)
  • Others
  • Hearing Implants
  • Cochlear Implants
  • BAHA Implants

The market has been bifurcated on the basis of the type, which includes hearing devices and hearing implants, wherein hearing devices are the most popular product type, which has been further categorized as behind-the-ear (BTE), receiver-in-the ear (RITE), in-the-ear (ITE), canal hearing aids (CHA), and others.

Market Breakup by Hearing Loss

  • Sensorineural Hearing Loss
  • Conductive Hearing Loss

Based on the hearing loss, the market has been segmented into sensorineural and conductive hearing loss.

Market Breakup by Patient Type

  • Adults
  • Pediatrics

On the basis of the patient type, the market has been segregated into adults and pediatrics. Currently, hearing aids are most commonly bought for adult patients.

Market Breakup by Technology Type

  • Analog
  • Digital

The report has analyzed the market according to the technology type, which mainly consists of analog and digital.

Market Breakup by End-User

  • Hospitals
  • ENT Clinics and Audiology Centres
  • Individual
  • Others

Based on the end user, the market has been categorized as hospitals, ENT clinics and audiology centers, individual, and others.

Market Breakup by Region

  • Europe
  • North America
  • Asia Pacific
  • Middle East and Africa
  • Latin America

On the geographical front, the market has been divided into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe represents the largest market for hearing aids, holding the majority of the total market share.

Competitive Landscape

The report has also analyzed the competitive landscape of the market with some of the key players being Sonova Holding AG, Starkey, MED-EL, William Demant Holding A/S, Widex A/S, Sivantos Group, GN Store Nord A/S, Cochlear Ltd, SeboTek Hearing Systems LLC, ReSound Group, AGX Hearing, Audina Hearing Instruments, Lisound, Banglijian, Glaxosmithkline, Benson Hearing, etc.

Key Topics Covered

1 Preface

2 Scope and Methodology

3 Executive Summary

4 Introduction

4.1 Overview

4.2 Key Industry Trends

5 Global Hearing Aid Market

5.1 Market Overview

5.2 Market Performance

5.3 Market Breakup by Product Type

5.4 Market Breakup by Hearing Loss

5.5 Market Breakup by Patient Type

5.6 Market Breakup by Technology Type

5.7 Market Breakup by End-User

5.8 Market Breakup by Region

5.9 Market Forecast

6 Market Breakup by Product Type

6.1 Hearing Devices

6.1.1 Market Trends

6.1.2 Major Types

6.1.2.1 Behind-the-Ear (BTE)

6.1.2.2 Receiver-in-the Ear (RITE)

6.1.2.3 In-the-Ear (ITE)

6.1.2.4 Canal Hearing Aids (CHA)

6.1.2.5 Others

6.1.3 Market Forecast

6.2 Hearing Implants

6.2.1 Market Trends

6.2.2 Major Types

6.2.2.1 Cochlear Implants

6.2.2.2 BAHA Implants

6.2.3 Market Forecast

7 Market Breakup by Hearing Loss

7.1 Sensorineural Hearing Loss

7.2 Conductive Hearing Loss

8 Market Breakup by Patient Type

8.1 Adults

8.2 Pediatrics

9 Market Breakup by Technology Type

9.1 Analog

9.2 Digital

10 Market Breakup by End-User

10.1 Hospitals

10.2 ENT Clinics and Audiology Centres

10.3 Individual

10.4 Others

11 Market Breakup by Region

11.1 Europe

11.2 North America

11.3 Asia Pacific

11.4 Middle East and Africa

11.5 Latin America

12 SWOT Analysis

12.1 Overview

12.2 Strengths

12.3 Weaknesses

12.4 Opportunities

12.5 Threats

13 Value Chain Analysis

14 Porter's Five Forces Analysis

14.1 Overview

14.2 Bargaining Power of Buyers

14.3 Bargaining Power of Suppliers

14.4 Degree of Competition

14.5 Threat of New Entrants

14.6 Threat of Substitutes

15 Price Analysis

16 Competitive Landscape

16.1 Market Structure

16.2 Key Players

16.3 Profiles of Key Players

16.3.1 Sonova Holding AG

16.3.2 Starkey

16.3.3 MED-EL

16.3.4 William Demant Holding A/S

16.3.5 Widex A/S

16.3.6 Sivantos Group

16.3.7 GN Store Nord A/S

16.3.8 Cochlear Ltd

16.3.9 SeboTek Hearing Systems LLC

16.3.10 ReSound Group

16.3.11 AGX Hearing

16.3.12 Audina Hearing Instruments

16.3.13 Lisound

16.3.14 Banglijian

16.3.15 Glaxosmithkline

16.3.16 Benson Hearing

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900