A research study
titled, “Hearing Aids Market by Product Type and Technology – Global Industry
Analysis and Forecast to 2025” published by Crystal Market Research, states
that the hearing aids market is projected to be around $6 billion by 2025.
Hearing impairment is the most frequent sensory deficit
in humans, affecting more than 250 million individuals worldwide. It is
becoming a severe social and health problem in the elderly population. This is
leading to impaired exchange of information due to hearing loss, causing
loneliness, dependence, and frustration, as well as communication disorders,
thus significantly impacting everyday life of the elderly. As per National
Institute on Deafness and Other Communication Disorders (NIDCD), around 37.5
million American adults aged 18 years and above suffer from hearing impairment.
Hence, growing geriatric population base is propelling the need for hearing
aids, as this age group of people is more prone towards developing hearing disorders.
The growth of hearing aids market can also be attributed to technological
advancements in the hearing aids such as enhanced listening, better
connectivity, and miniaturization with high efficiency of the product.
Browse full research report with TOC on “Hearing Aids
Market by Product Type and Technology – Global Industry Analysis and Forecast
to 2025” at: http://www.crystalmarketresearch.com/report/hearing-aids-market
Behind-the-ear hearing aids segment occupied for almost
half of the global market in 2016. These hearing aids are used for the
treatment of all types of hearing losses ranging from mild to profound and they
are available in different styles ranging from Miniature-BTEs to the larger
Super Power instruments. Additionally, these aids provide multiple directional
microphones for better understanding of speech in noisy situations.
Digital hearing aids have quickly substituted analog
devices while dominating today’s hearing aids market. This segment accounted
for more than three-fourth of the overall market in 2016. These hearing aids
facilitate more complex processing of sound during the amplification process
for improving their performance in certain situations, for instance, background
noise.
Europe held a major share of more than one-third of the
overall market in 2016. This is primarily attributed to a number of factors
such as the rising incidence of hearing disorders and deafness coupled with the
rapidly aging population, increased adoption of technologically advanced hearing
solutions, and growing purchasing power of the patients. Asia Pacific is
expected to witness lucrative market growth over the forecast period, due to
the availability of untapped and unsaturated markets coupled with rising demand
for hearing aids. Rapid economic development along with increasing patient
awareness levels is a major avenue for the companies in the hearing aids
industry.
Request a sample copy of Hearing Aids Market Research
Report @ http://www.crystalmarketresearch.com/report-sample/HC059
Some of the major companies operating in the hearing aids
market include Sivantos Pte. Ltd., Sonova Holding AG, William Demant Holdings
A/S, Starkey, and GN Store Nord A/S.
Key
Findings of the Research Study:
·
Behind-the-ear hearing aids segment accounted
for almost half of the global market in 2016, due to the high efficiency of the
product with high comfort levels and better connectivity.
·
Canal hearing aids market is projected to be
the fastest-growing segment over the forecast period. This high growth rate is
due to increasing number of R&D initiatives towards the improvement of
device performance and rising demand for esthetically appealing hearing aids.
·
Digital hearing aids segment is projected to
dominate the overall market over the forecast period. It accounted for more
than three-fourth of the overall market in 2016. This high market share is
primarily attributed to factors such as the high connectivity with smart phones.
·
Europe held more than one-third share of the
global market in 2016. Rising incidence of hearing disorders and deafness and
increased adoption of technologically advanced hearing aids are set to drive
the market growth in this region.
·
Asia-Pacific is projected is poised to grow
at the highest CAGR during the forecast period, due to presence of high unmet
medical needs, rising disposable income of patients, and the constantly
improving healthcare infrastructure.
Inquire more about this report at: http://www.crystalmarketresearch.com/send-an-enquiry/HC059
Hearing Aids Market Segmentation:
By Product:
- In-The-Ear Hearing Aids
- Behind-The-Ear Hearing Aids
- Receiver-In-The-Ear Hearing Aids
- Canal Hearing Aids
By Technology:
- Analog Hearing Aids
- Digital Hearing Aids
By Region:
- North America
o U.S
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o Japan
o China
o Australia
o India
o South Korea
o Rest of Asia-Pacific
- Rest of the World
o Brazil
o South Africa
o Saudi Arabia
o Turkey
o United Arab Emirates
o Others
Get Customization in the Report At: http://www.crystalmarketresearch.com/customization/HC059
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About Crystal
Market Research
Crystal Market Research is a U.S. based market research
and business intelligence company. Crystal offers one stop solution for market
research, business intelligence, and consulting services to help clients make
more informed decisions. It provides both syndicated as well as customized
research studies for its customers spread across the globe. The company offers
market intelligence reports across a broad range of industries including
healthcare, chemicals & materials, technology, automotive, and energy.
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