The global hearing aid market is estimated to exhibit a CAGR of over 6.5% during the forecast period. The market growth is attributed to the increasing geriatric population coupled with the rising prevalence of hearing loss impairment. Advances in digital technology have transformeda number of industries and hearing aid market is not lagging behind. Some hearing aids can connect to wireless devices, such as phones and tablets, as well as smart home devices such as doorbells and smoke alarms. For instance, CS10 designed by Sound World Solutions includes Bluetooth features and iPhone as well and is manufactured to enhance sound for non-hearing-impaired users by using its app for customization. This creates opportunity for the growth of the global hearing aid market in the near future.
Government is playing a vital role in contributing towards the growth of the global hearing aids industry.Government across the globe are taking actions for bringing accessibility and affordability of the people to hearing healthcare. For instance, the Over-the-Counter Hearing Aid Act of 2017 in the US is making its way through the FDA process and will soon allow consumers a way to purchase hearing aids over the counter without requiring a prescription. In addition, in November 2018, UK National Health Service (NHS) selected Nuheara Ltd’ IQbuds BOOST to provide hearing solutions to adults and children with mild-to-moderate hearing loss.
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Current Market Trends Covered in the Market Report:
- Increased technological advancements is positively impacting the hearing aids market growth.
- Shifting preferences toward the use of novel and advanced products with the reduced risks of hearing impairments and ensure the safety is expected to provide a growth rate to the hearing aids market
- Digital hearing aids segment will exhibit a significant growth in the market
- Asia-Pacific to witness remarkable growth in hearing aids market during the forecast period.
Hearing Aids Market – Segmentation
By Type
- Behind-the-ear (BTE)
- In-the-ear (ITE)
- In-the-canal (ITC)
By Function
- Analog
- Digital
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Hearing Aids Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- AmplifonSpA
- Audina Hearing Instruments Inc.
- Beurer GmbH
- Cochlear Ltd.
- Demant A/S
- Medtronic, PLC
- Merry Healthcare Co. Ltd.
- GN Hearing A/S
- Oticon, Inc.
- Sivantos Group
- Sonova Holding AG
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