New York, NY -- (SBWire) -- 05/04/2020 --Hearing aids are devices which amplify sound and assist individuals suffering from hearing impairment. Few of the constituents of these devices include, a microphone, for picking up sound, an amplifying circuit for relaying the sound louder and a miniature speaker which delivers the amplified sound to the ear, and finally, a battery to power the electronic components. The global hearing aids market is driven by increasing incidences and prevalence of hearing loss, focus of market players in introducing new and innovative products and availability of rising geriatric population are some of the major factors driving the market. However, high cost of device is likely to restrain the market to certain extent.
Major Key Players of the Hearing Aids Market are:
Sonova, William Demant Holding A/S, GN Store Nord A/S, Cochlear, Sivantos Pte. Ltd., Starkey, WIDEX A/S, SeboTek Hearing Systems, Audina Hearing Instruments, Inc. and Horentek other prominent players.
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Increasing incidences and prevalence of hearing loss, rising geriatric population has led to focus of market players in introducing new and innovative products and availability of favorable government regulations are some of the growth factors in the hearing aids market. Moreover, various educational and research institutes, organizations and societies are working on treatments of hearing losses to make the entire treatment procedure affordable. For instance, China Southeast University Institute of Life Sciences announced collaboration for joint research project with Boehringer Ingelheim, a leading pharmaceutical company.
The population of geriatric population across the world has grown rapidly over the past several decades. Moreover, this growth has witnessed an unprecedented rate in recent times. In 2016, it was approximated that the population of individuals aged 65 years or older was 8.5% or 617 million of the entire world population. Furthermore, it is projected that the figure will witness an increment to 17% i.e. 1.6 billion by the end of 2050. Such rapid growth of geriatric population is anticipated to present a remunerative growth opportunity for the global hearing aids market in the coming times. Since, growing age brings about several ailments associated with hearing, namely hearing loss, and other hearing problems.
Major Types of Hearing Aids Market covered are:
Hearing Aid Devices (Receiver-In-The-Ear Hearing Aids, Canal Hearing Aids , Behind-The-Ear Hearing Aids , In-The-Ear (ITE) Hearing Aids)
Hearing Implants (Bone-Anchored Systems and Cochlear Implants)
Major Applications of Hearing Aids Market covered are:
Pediatrics, and Adults
Research objectives:-
– To study and analyze the global Hearing Aids consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Hearing Aids market by identifying its various sub-segments.
– Focuses on the key global Hearing Aids manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Hearing Aids with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Content
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered
1.4 Market Analysis by Type
1.5 Market by Application
1.6 Study Objectives
1.7 Years Considered
2 Global Growth Trends
2.1 Hearing Aids Market Size
2.2 Hearing Aids Growth Trends by Regions
2.3 Industry Trends
3 Market Share by Key Players
3.1 Hearing Aids Market Size by Manufacturers
3.2 Hearing Aids Key Players Head office and Area Served
3.3 Key Players Hearing Aids Product/Solution/Service
3.4 Date of Enter into Hearing Aids Market
3.5 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Product
4.1 Global Hearing Aids Sales by Product
4.2 Global Hearing Aids Revenue by Product
4.3 Hearing Aids Price by Product
5 Breakdown Data by End User
5.1 Overview
5.2 Global Hearing Aids Breakdown Data by End User
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In the end, Hearing Aids industry report specifics the major regions, market scenarios with the product price, volume, supply, revenue, production, and market growth rate, demand, forecast and so on. This report also presents SWOT analysis, investment feasibility analysis, and investment return analysis.
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Hearing Aids Market Set for Rapid Growth to Reach CAGR of over 6.6% by 2030 - Sonova, William Demant Holding, GN Store Nord
Hearing aids market is estimated to be over US$ 6.5 Bn in 2017. It is anticipated to grow at a CAGR of 6.6% from 2019 to 2030.