Hearing Aids Market – Insights

Hearing aids are sound amplifying devices that are used to treat hearing impairment. It is an electronic device that comprises various components such as microphone, amplifier circuitry, miniature loudspeaker (receiver), and batteries. It captures, amplifies, and delivers sound into the ear canal. The hearing loss may result due to many reasons such as aging, prolonged exposure to loud noise, trauma or injury to the head, genetic factors, and diseases such as Meniere’s disease.

There are three major types of hearing loss such as sensorineural hearing loss, conductive hearing loss, and mixed hearing loss. Sensorineural hearing loss is the most common type and is a permanent type of hearing loss that is caused due to damage to the inner cells or auditory nerve of the ear.

The global hearing aids market size is estimated to be valued at US$ 8,938.4 million in 2019, and is expected to exhibit a CAGR of 6.6% over the forecast period (2019-2027).

Global Hearing Aids Market Share (%) Analysis, By Technology, 2019

Hearing Aids  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Increasing prevalence of hearing problems and advancement in hearing aids technology is expected to drive growth of the hearing aids market

Hearing aids market is expected to grow over the forecast period, owing to increasing prevalence of hearing problems such as hearing loss, ear infections, and others. For instance, according to the World Health Organization (WHO) in March 2019, around 466 million people worldwide suffered from disabling hearing loss, of which 34 million of these were children. Moreover, as per the same source in 2017, around 1.1 billion people around the globe in the age group of 12-35 years were at the risk of hearing loss due to continuous exposure to noise. Furthermore, around 60% of the childhood hearing loss is preventable by immunizing children against the disease, which results in hearing loss such as meningitis, rubella, and mumps.

Furthermore, continuous product innovation and product development by manufacturers of hearing aids is expected to fuel growth of the hearing aids market over the forecast period. For instance, in August 2018, Starkey Hearing Technologies launched hearing aid, Livio AI. Livio AI is a hearing aid that utilizes integrated sensors and artificial intelligence and it is the first device to track physical activity and cognitive health. Livio AI hearing aid tracks brain and body health and offers natural user interface with tap control, language translation, and advanced environmental detection (surrounding environment of the user).

Hearing Aids Market - Restraints

Factors that are expected to hamper growth of the hearing aids market include high price of devices, poor accessibility of healthcare services, and issues related with the devices such as battery problem, post purchase service, and maintenance problem. For instance, Widex A/S’, a hearing aid manufacturer’s product, Widex BABY hearing aid was recalled by the U.S. FDA on August 2018, owing to mounting of a non-tamper-resistant (ordinary) battery drawer on few BABY440 hearing aids. Whereas, the hearing aid is supposed to have tamper-resistance mounting which is opened with a special tool. The product was terminated on December 2018.  Moreover, the high costs of devices, poor accessibility of healthcare services, issues related with the devices such as battery problem, post purchase service, and maintenance problem is expected to hamper growth of the hearing aids market over the forecast period.

Hearing Aids Market - Regional Insights

On the basis of region, the global hearing aids market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to hold a dominant position in the global hearing aids market during the forecast period, owing to favorable rules and regulations regarding hearing aids to increase the accessibility of hearing aids in this region. For instance, in June 2019, the U.S. Food and Drug Administration, announced that the first public rule-making process for establishing over-the-counter (OTC) hearing aid regulations took place by November 2019. The OTC hearing aids rules is expected to be finalized by August 2020.

Europe is expected to witness significant growth in the hearing aids market over the forecast period, owing to increasing adoption of hearing aid devices. For instance, according to the EuroTrak 2018 survey, around 40% of the population with hearing loss received a hearing test in the past five years in Europe. Furthermore, according to the report released by European Hearing Instrument Manufacturers Association (EHIMA) in April 2019, total units of hearing aids sold in 2018 were 16,035,000 across the Europe.

Global Hearing Aids Market Value (US$ Mn) & Y-o-Y Growth (%), 2017-2027

Hearing Aids  | Coherent Market Insights

 Source: Coherent Market Insights Analysis (2019)

Hearing Aids Market - Competitive Landscape

Key players operating in the global hearing aids market include Sonova Holding AG, Sivantos Inc., Cochlear Ltd., SeboTek Hearing Systems LLC, Oticon A/S, Zounds Hearing Inc., MED-EL, Sonic Innovations Inc., GN Store Nord A/S, Widex A/S, Starkey Hearing Technologies, and William Demant Holding A/S.

The hearing aids are used to improve hearing sensitivity and manage hearing loss problem. There are five types of hearing aids available in market, which includes behind the ear hearing aids, receiver in the ear hearing aids, in the ear hearing aids, completely in the ear hearing aids, and in the canal hearing aids. Amongst all, behind the ear hearing aids type is mostly preferred by the people with hearing issues as it fits comfortably behind the ear.

Among technology, digital hearing aid is expected to hold the largest market share over the forecast period, owing to its benefits compared to conventional hearing aids such as improvement in programmability, greater precision in fitting, management of discomfort related to loudness, and noise reduction. Moreover, the digital hearing aids offers better hearing and have longer life span. Furthermore, the user can change the hearing aid setting by pushing button for different features in advanced hearing aids but in case of conventional hearing aids it is not possible as this aids are based on particular frequency response of audiogram of the user.

Market Dynamics

Increasing number of people with hearing impairment across the globe coupled with rising demand for technologically advanced hearing aids due to increased awareness about managing hearing among people with hearing issues is expected to fuel growth of the hearing aids market over the forecast period.

The continuous advancement in technology is also expected to drive growth of the hearing aids market over the forecast period. Moreover, the manufacturers are focusing on product development to design better hearing aid, in order to improve the performance and durability of the aid. For instance, Sivantos Inc. launched new product brand, Signia Pure Charge & Go X in November 2019. Pure Charge & Go X is a receiver-in-canal (RIC) device which has increased battery life and provides additional features such as Bluetooth connectivity to the T.V. and phone. These technological advancements in the hearing aid devices is expected to drive market growth over the forecast period.

Key features of the study:

  • This report provides in-depth analysis of the hearing aids market, market size (US$ Mn), and compound annual growth rate (CAGR %) for the forecast period: 2019 – 2027, considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by leading players
  • It profiles key players in the global hearing aids market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
  • Key players covered as a part of this study include Sonova Holding AG, Sivantos Inc., Cochlear Ltd., SeboTek Hearing Systems LLC, Oticon A/S, Zounds Hearing Inc., MED-EL, Sonic Innovations Inc., GN Store Nord A/S, Widex A/S, Starkey Hearing Technologies, and William Demant Holding A/S.Insights
  • This report would allow marketers and management authorities of companies to make informed decision with respect to their future product launches, government initiatives, technological upgradation, market expansion, and marketing tactics
  • The global hearing aids market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for hearing aids market, research and consulting firms, new entrants, and financial analysts

Detailed Segmentation:

  • Global Hearing Aids Market, By Technology:
    • Conventional Hearing Aid
    • Digital Hearing Aid
  • Global Hearing Aids Market, By Product Type:
    • Behind the Ear Hearing Aids
    • Receiver in the Ear Hearing Aids
    • In the Ear Hearing Aids
    • Completely In the Ear Hearing Aids
    • In the Canal Hearing Aids
  • Global Hearing Aids Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Technology:
        • Conventional Hearing Aid
        • Digital Hearing Aid     
      • By Product Type:
        • Behind the Ear Hearing Aids
        • Receiver in the Ear Hearing Aids
        • In the Ear Hearing Aids
        • Completely In the Ear Hearing Aids
        • In the Canal Hearing Aids
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Technology:
        • Conventional Hearing Aid
        • Digital Hearing Aid     
      • By Product Type:
        • Behind the Ear Hearing Aids
        • Receiver in the Ear Hearing Aids
        • In the Ear Hearing Aids
        • Completely In the Ear Hearing Aids
        • In the Canal Hearing Aids
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Technology:
        • Conventional Hearing Aid
        • Digital Hearing Aid     
      • By Product Type:
        • Behind the Ear Hearing Aids
        • Receiver in the Ear Hearing Aids
        • In the Ear Hearing Aids
        • Completely In the Ear Hearing Aids
        • In the Canal Hearing Aids
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Technology:
        • Conventional Hearing Aid
        • Digital Hearing Aid     
      • By Product Type:
        • Behind the Ear Hearing Aids
        • Receiver in the Ear Hearing Aids
        • In the Ear Hearing Aids
        • Completely In the Ear Hearing Aids
        • In the Canal Hearing Aids
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Technology:
        • Conventional Hearing Aid
        • Digital Hearing Aid     
      • By Product Type:
        • Behind the Ear Hearing Aids
        • Receiver in the Ear Hearing Aids
        • In the Ear Hearing Aids
        • Completely In the Ear Hearing Aids
        • In the Canal Hearing Aids
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Technology:
        • Conventional Hearing Aid
        • Digital Hearing Aid     
      • By Product Type:
        • Behind the Ear Hearing Aids
        • Receiver in the Ear Hearing Aids
        • In the Ear Hearing Aids
        • Completely In the Ear Hearing Aids
        • In the Canal Hearing Aids
  • Company Profiles
    • Sonova Holding AG*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Sivantos Inc.
    • Cochlear Ltd.
    • SeboTek Hearing Systems LLC
    • Oticon A/S
    • Zounds Hearing Inc.
    • MED-EL
    • Sonic Innovations Inc.
    • GN Store Nord A/S
    • Widex A/S
    • Starkey Hearing Technologies
    • William Demant Holding A/S

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Technology
      • Market Snippet, By Product Type
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Key Developments
    • Regulatory Landscape
    • Product Recall
    • Epidemiology Analysis
    • Technology Overview
    • PEST Analysis
    • Porter’s Five Forces model
  4. Global Hearing Aids Market, By Technology, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Conventional Hearing Aid
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • Digital Hearing Aid
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
  5. Global Hearing Aids Market, By Product Type, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Behind the Ear Hearing Aids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • Receiver in the Ear Hearing Aids
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • In the Ear Hearing Aids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • Completely In the Ear Hearing Aids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
    • In the Canal Hearing Aids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Million)
  6. Global Hearing Aids Market, By Region, 2019 – 2027, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2026
      • Regional Trends
    • North America
      • Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country/Region, 2019 – 2027, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Technology, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Product Type, 2019 – 2027, (US$ Million)
      • Market Size and Forecast, By Country, 2019 – 2027, (US$ Million)
        • GCC
        • Israel
        • Rest of Middle East
  7. Competitive Landscape
    • Company Profiles
      • Sonova Holding AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Sivantos Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Cochlear Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • SeboTek Hearing Systems LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Oticon A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Zounds Hearing Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • MED-EL
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Sonic Innovations Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • GN Store Nord A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Widex A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Starkey Hearing Technologies
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • William Demant Holding A/S
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

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