Global Hearing Aids Market worth USD 13.38 Billion at 8.2% CAGR; GN Hearing Launches Revolutionary New Hearing Aid Named ReSound ONE
Key Prominent Players Covered in the Hearing Aids Market Research Report Are Sonovo, Demant A/S, GN Store Nord A/S, WS Audiology, Starkey, MED-EL, Cochlear Ltd, RION Co., Ltd. and other key market players.
Pune, India, Jan. 05, 2021 (GLOBE NEWSWIRE) -- The global hearing aids market is set to gain impetus from the increasing adoption of telehealth among audiologists to prevent patient traffic. This information is given by Fortune Business Insights™ in a new report. The report further states that the market size was USD 8.99 billion in 2019 and is projected to reach USD 13.38 billion by 2027, exhibiting a CAGR of 8.2% during the forecast period. North America procured USD 3.37 billion in terms of revenue. The increasing adoption of less noticeable devices to surge the aesthetic appeal would aid growth. Europe is projected to witness lucrative growth throughout the forthcoming years on account of the rising research and development activities to create advanced hearing aids. In Asia Pacific, the increasing old age population is expected to drive growth.
*
*
*Request a Sample Copy of the Research Report: *https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/hearing-aids-market-101573
*
*
*Higher Noise Exposure to Boost Growth*
The rising cases of hearing loss in the industrialized countries are set to accelerate the global hearing aids market growth in the near future. The World Health Organization (WHO) declared that by 2050, the number of people living with disabling hearing loss will reach over 900 million. Apart from that, physiological aging of the ear, genetic susceptibility, higher noise exposure, vascular disorder, and chronic inflammation would also contribute to the surging demand for these aids. However, the social stigma associated with hearing loss and devices often result in patients missing their check-ups. It may hamper growth.
*COVID-19 Pandemic to Affect Growth Backed by Postponement of Surgeries*
The COVID-19 pandemic has taken a huge toll on the healthcare sector. Most of the hospitals are falling short of beds for coronavirus positive patients. Also, multiple elective surgeries are either being cancelled or postponed to relocate resources. The Hearing Industries Association (HIA) revealed that during the first half of 2020, the sales of hearing aids in the U.S. is set to decline by 29.7%. Our accurate reports will aid in offering detailed information about the current condition of this industry.
*
*
*To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: *https://www.fortunebusinessinsights.com/industry-reports/hearing-aids-market-101573
*
*
*Hearing Devices Segment to Lead Stoked by Rising Usage of Behind-the-ear Devices*
Based on product, the hearing devices segment is set to hold the largest hearing aids market share and lead in the coming years. This growth is attributable to the rising usage of behind-the-ear devices as they resemble Bluetooth earphones. Also, invisible-in-the-canal and completely in the canal devices are nowadays experiencing high demand because of their ability to provide more confidence in people.
*Increasing Development of Novel Devices to Spur Growth in Europe*
In 2019, North America procured USD 3.37 billion in terms of revenue. The increasing adoption of less noticeable devices to surge the aesthetic appeal would aid growth. Europe is projected to witness lucrative growth throughout the forthcoming years on account of the rising research and development activities to create advanced hearing aids. In Asia Pacific, the increasing old age population is expected to drive growth.
*
*
*Quick Buy - Hearing Aids Market Research Report: *https://www.fortunebusinessinsights.com/checkout-page/101573
*
*
*Key Players Focus on Launching Unique Hearing Aids to Fulfill Unmet Needs*
The global market houses several manufacturers that are mainly aiming to fulfill the unmet demand from people across the globe. To do so, they are developing novel products equipped with innovative technologies for more comfort. Below are the two latest industry developments:
· *August 2020*: GN Hearing launched a revolutionary new hearing aid named ReSound ONE. It has an additional microphone that can be placed inside the ear canal, enabling people to rely on these aids, while gaining the comfort of an open-fit device.
· *April 2020*: Phonak unveiled a new telehealth technology that contains a suit of Phonak eSolutions featuring real-time remote hearing aid fine-tuning, programming, and fitting. It also includes online hearing testing to help patients receive care amid COVID-19.
*
*
*A list of all the renowned manufacturers operating in the global market:*
· Sonovo (Stafa, Switzerland)
· Demant A/S (Denmark)
· GN Store Nord A/S (Ballerup, Denmark)
· WS Audiology (Denmark)
· Starkey (Minnesota, U.S.)
· MED-EL (Medical Electronics) (Innsbruck, Austria)
· Cochlear Ltd (Sydney, Australia)
· RION Co., Ltd. (Tokyo, Japan)
· Other prominent players
*
*
*Have Any Query? Ask Our Experts: *https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/hearing-aids-market-101573
*
*
*Table of Contents:*
· *Introduction*
· Research Scope
· Market Segmentation
· Research Methodology
· Definitions and Assumptions
· *Executive Summary*
· *Market Dynamics*
· Market Drivers
· Market Restraints
· Market Opportunities
· *Key Insights*
· Epidemiology of Hearing Loss – For Key Regions
· Technological Advancements in Hearing Aids Market
· New Product Launches
· Key Industry Developments – Partnerships, Mergers, & Acquisitions
· Impact of COVID-19 Pandemic on Hearing Aids Market
· *Global Hearing Aids Market Analysis, Insights and Forecast, 2016-2027 *
· *Key Findings / Summary*
· *Market Analysis, Insights and Forecast – By Product*
· Hearing Devices
· BTE (Behind the Ear)
· ITE (Inside the Ear)
· RIC (Receiver in the Canal)
· CIC (Completely in the Canal)
· Others (Invisible in the Canal, etc.)
· Hearing Implants
· Cochlear Implants
· Bone Anchored Implants
· *Market Analysis, Insights and Forecast – By Patient Type*
· Adults
· Pediatrics
· *Market Analysis, Insights and Forecast – By Distribution Channel*
· OTC (Over the Counter)
· Medical Channel/ Hospital Pharmacies
· Private Practice/ Retail Pharmacies
· *Market Analysis, Insights and Forecast – By Region*
· North America
· Europe
· Asia Pacific
· Rest of World
TOC Continued….!
*
*
*Get your Customized Research Report:* https://www.fortunebusinessinsights.com/enquiry/customization/hearing-aids-market-101573
*
*
*SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:*
· Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
· Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
· Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
· Number of procedures and average price of procedures
· Replacement rate and pricing of capital equipment
· Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
· Market & technological trends, new product developments, product pipeline.
*
*
*Have a Look at Related Reports:*
Surgical Robots Market Share and Global Trend By Application (General Surgery, Gynecology, Urology, Orthopedics, Others), By End User (Hospitals, Ambulatory Surgery Centers, Others) and Geography Forecast till 2026
Sedation In ICU Setting Market Share and Global Trend By Drug/Drug Class (Propofol, Benzodiazepams (Midazolam, etc.), Dexmedetomidine, Remifentanil), & Geography Forecast till 2026
Acute Bacterial Skin And Skin Structure Infections (ABSSSI) Treatment Market Share and Global Trend By Infection Type (Hospital-acquired ABSSSI, Community-acquired ABSSSI), By Route of Administration (Oral, Parenteral), By Distribution Channel (Hospitals Pharmacy, Retail Pharmacy, Online Pharmacy) and Geography Forecast till 2026
Regenerative Medicine Market Share and Global Trend By By Product (Cell Therapy, Gene Therapy, Tissue Engineering, Platelet Rich Plasma), By Application (Orthopaedics, Wound Care, Oncology), By Distribution Channel (Hospitals, Clinics) & Geography Forecast till 2026
Hyaluronic Acid Based Dermal Fillers Market Share and Global Trend By Crosslinking Type (Monophasic, Biphasic), By Application (Scar Treatment, Wrinkle Correction Treatment, Lip Enhancement, Restoration of Volume/ Fullness), By End User(Specialty & Dermatology Clinics, Hospitals & Clinics) and Geography Forecast till 2026
*
*
*About Us:*
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
*
*
*Contact Us:*
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
*Phone:*
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
*
*
*Press Release: *https://www.fortunebusinessinsights.com/press-release/hearing-aids-market-9313