According to the latest IMARC group report, entitled “Hearing aid market share: Global Industry Trends, Size, 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 2021-2026.
We regularly monitor the direct effect of COVID-19[female[feminine on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
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Hearing aids are small, battery-powered electronic devices that are worn in or behind the ear to improve hearing loss. They help amplify sound, which allows the user to listen, communicate and participate in daily activities. It has three basic components namely a speaker, amplifier and microphone. The hearing aid receives sound from the microphone, which is converted into electrical signals and sent to the amplifier. The amplifier then improves the strength of the signals and directs them to the ear through the speaker.
Global Hearing Aid Market Trends:
The growth of the geriatric population is one of the major factors driving the growth of the hearing aids market. This can be attributed to the association of old age with progressive hearing loss. Apart from this, the significant increase in the prevalence of hearing disorders among the masses has boosted the sales of hearing aids across the world. In addition, some of the major players in the industry are introducing hearing aids that work with lithium-ion batteries, which offer improved power over conventional batteries. They also invest in research and development (R&D) activities to introduce new product variants. For example, Sonova AG, a Swiss-based hearing solutions provider, recently launched AudÃ©o Marvel under its Phonak brand, which is an in-channel receiver hearing aid that can be paired with Bluetooth enabled devices for direct audio streaming and creating hands-free phone calls. It can also be connected to the myPhonak app, which provides battery status information and headphone wearing time statistics, as well as the ability to control volume and frequencies.
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 the 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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