Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global hearing aid market reached a value of US$ 6.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2027, exhibiting a CAGR of 6.47% during 2022-2027.
A hearing aid is a small, electronic device that helps amplify the sound to improve. It is largely used by individuals suffering from impairment or auditory nerve damage to communicate and participate in daily activities.
Generally worn behind the ear, the hearing aid consists of a microphone, amplifier, and a speaker that magnifies sound vibrations into neural signals, which are then passed to the brain. Currently, aids are available in a wide variety of designs and can be customized as per the requirements of the user.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Hearing Aid Market Trends:
One of the key factors driving the hearing aid market growth is the rising instances of hearing loss due to the growing geriatric population. This is further supported by the increasing occurance of noise-induced disorders, especially in infants, which, in turn, have facilitated the demand for aids.
Additionally, the integration of advanced technologies, such as Bluetooth connectivity, artificial intelligence (AI), tinnitus masking, and rechargeable battery solutions with hearing aids, is acting as another growth-inducing factor.
Besides this, key market players are introducing aesthetically appealing designs with customization options to expand their product portfolio and increase their consumer base, which is further creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hearing aid market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, hearing loss, patient type, technology type and end-user.
Sonova Holding AG, Starkey Laboratories, Inc., MED-EL GmbH, Demant A/S, WS Audiology A/S, Widex A/S, Sivantos Group, GN Store Nord A/S, Cochlear Limited, SeboTek Hearing Systems LLC, ReSound Group (GN Hearing A/S), AGX (Audigy Group), Audina Hearing Instruments, Inc., Lisound Hearing Aid (Fuzhou) Co., Ltd., Banglijian, GlaxoSmithKline plc, Benson Hearing, etc.
Breakup by Product Type:
- Hearing Devices
- Behind-the-Ear (BTE)
- Receiver-in-the Ear (RITE)
- In-the-Ear (ITE)
- Canal Hearing Aids (CHA)
- Hearing Implants
- Cochlear Implants
- BAHA Implants
- Sensorineural Hearing Loss
- Conductive Hearing Loss
- ENT Clinics and Audiology Centres
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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