Listening to Aids Market Value $7 Billion by 2025 – CAGR: 3.9%

Author: Polaris Market Research (i): Contact: polarismarketresearch.com

Published: 2020-10-22

Table of contents and important points:

The report published by Polaris Market Research shows that the global hearing aid market is projected to reach $ 6,992.1 million by 2025.

In 2017, the digital technology segment by technology dominated the market in terms of revenue and held a large market share. In regional terms, Europe had the largest share of the hearing aid market.

Digital hearing aids hold a large share of the hearing aid market and are expected to grow faster over the forecast period.

Main digestion

The hearing aid market is primarily being driven by increased hearing loss resulting from increased noise exposure, a growing geriatric population and the need for continuous technological advancement of the devices. Additionally, deafness due to ear infections and childbirth complications affect the growth of the hearing aid market over the forecast period.

Behind the ear (BTE) hearing aids represent a large market share that is characterized by advantages such as high efficiency, ease of use and better connectivity. However, it is estimated that due to the increased preference for invisible devices with better features and connectivity, canal hearing aids are growing faster.

Hearing Aid Information: Examines some of the hearing aids currently available for the hearing impaired and hard of hearing.

Based on the patient type, the Hearing Aid market is segmented into adult and pediatric patients.

The market for hearing aids for adult patients expected higher growth during the forecast period. This growth is mainly due to the increasing number of geriatric populations worldwide and the increasing incidence of hearing loss.

Data on the current and future hearing aid market.

Digital and analog hearing aids

Technologically, the market for hearing aids is divided into digital and analog hearing aids.

Digital hearing aids hold a large share of the hearing aid market and are expected to grow faster over the forecast period. The growth of digital hearing aids is primarily due to continuous technological advances and innovations that enable wireless connection to all types of smartphones with improved listening experience in noisy environments.

Europe occupies a dominant position in the global hearing aid market, followed by North America and the Asia-Pacific region. The growth in the European hearing aid market is mainly due to the increasing number of geriatric patients, the increasing prevalence of hearing loss and the availability of technologically advanced hearing aids. However, the high cost of the devices can hinder the growth of the hearing aid market in Europe.

Leading companies in this industry include Sonova, Gn Store Nord, William Demant Holding A / S, Widex A / S, Sivantos, Starkey, Zounds Hearing, Sebotek Hearing Systems, Benson Hearing, Microteck Systems, Medtronics and Microscan.

Main results

The results of the study suggest that the products available on the market are continuously focused on technological advancement. When developing new technologies, companies take into account factors such as rising disposable incomes and the growing number of geriatric populations around the world. Europe is believed to dominate the global hearing aid market in the forecast years, and the Asia-Pacific region is showing signs of high growth due to the booming economies of India and China.

Polaris market research

Polaris Market Research is a global market research and advisory company.

The company specializes in providing exceptional market intelligence and comprehensive business research services to our clients spread across various companies.

Rechargeable Hearing Aid Batteries: Thanks to the new rechargeable battery technology, hearing aid wearers never need to remove or touch the hearing aid batteries.

(i) Source / Reference: Polaris Market Research. Disabled World makes no guarantees or warranties in connection therewith. Content may have been edited for style, clarity, or length.

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Page quote:

Journal: Disabled World. Language: English. Author: Polaris Market Research. Electronic publication date: 2020-10-22. Last revised date: 2020-10-22. Reference Title: “Hearing Aid Market Valued At $ 7 Billion By 2025 – CAGR: 3.9%,” Source: Hearing Aid Market Valued At $ 7 Billion By 2025 – CAGR: 3.9%. Summary: The report published by Polaris Market Research shows that the global hearing aid market is projected to reach $ 6,992.1 million by 2025. Retrieved on December 11, 2020 at https://www.disabled-world.com/medical/research/cagr. PHP reference category number: DW # 506-13893.

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