According to the latest report from the IMARC group, entitled “Hearing Aid Market Size: Global Industry Trends, Share, Growth, Opportunities and Forecast 2021-2026âThe global hearing aid market reached a value of US $ 8.7 billion in 2020. Going forward, IMARC Group expects the market to grow at a CAGR of around 6% over the course of the period 2021-2026.
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of related industries. These observations will be incorporated into the report.
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A hearing aid is a small electronic device used to wear in or behind an ear. It improves hearing so that a hearing impaired person can listen, communicate and participate more fully in their regular work. A hearing aid consists of several essential components, such as a microphone, amplifier, and speaker. These components help amplify sound vibrations entering the ear, perceive larger vibrations, and convert them into neural signals. Hearing aids are widely available in various designs and are customized according to customer’s requirements.
Growing geriatric population across the world is increasing the risk of hearing loss which is mainly driving the hearing aid market. In addition, a significant increase in the number of cases, especially of infants, remains untreated leading to several psychological and speech disorders thus increasing the growth of the market. On a related note, the introduction of aesthetic products and the launch of innovative product variants, including waterproof hearing aids, are also driving product demand. In addition, rising noise pollution levels, increasing cases of birth complications and ear infections, and extensive research and development (R&D) by manufacturers are expected to strengthen the hearing aid market in the years to come. to come.
Hearing Aid Market Competitive analysis and segmentation 2021-2026:
Competitive landscape with key players:
The competitive landscape of the Hearing Aid market has been studied in the report along with detailed profiles of the major players operating in the market.
Some of these key players include:
- Sonova Holding AG (SWX: SOON)
- Touch Star
- William Demant Holding A / S (CPH: DEMANT)
- Widex A / S
- Sivantos Group
- GN Store Nord A / S (CPH: GN)
- Cochlear Ltd (ASX: COH)
- SeboTek Hearing Systems LLC
- ReSound Group
- AGX Audience
- Audina hearing aids
- Glaxosmithkline (LON: GSK)
- Benson Audience
Key market segmentation:
The report has segmented the hearing aid market on the basis of product type, hearing loss, patient type, technology type, end user, and region.
Breaking by type of product:
- Hearing aids
- Hearing implants
Breaking by Hearing loss:
- Sensorineural hearing loss
- Transmission hearing loss
Breaking by Patient type:
Breaking by Type of technology:
Breaking by Final user:
- ENT clinics and audiology centers
Breaking by Region:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Explore the full report with table of contents and list of figures: https://www.imarcgroup.com/hearing-aid-market
Highlights of the report:
- Market performance (2015-2020)
- Market Outlook (2021-2026)
- Industry trends
- Market drivers and success factors
- The impact of COVID-19 on the global market
- Value chain analysis
- Global market structure
- Complete 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 part of the customization.
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