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Published Date: 2016-07-21Number of Pages: 94

Hearing Aids Market (Product Type - Hearing Aids (Behind the Ear (BTE), Receiver in the Ear (RITE), In the Ear (ITE), Canal Hearing Aids (ITC), (CIC), & (IIC)), Bone Anchored Hearing Aids (BAHA); End-user (Pediatric, Adult)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Early detection and treatment of hearing loss can mitigate the severity of deafness and could improve the condition of those suffering from the condition. As per World Health Organization, in 2015 the hearing aid production globally, hardly met 10% of the total need and a meager 3% of demand across developing countries. This provides the global hearing aids market with substantial opportunities to gain from in the forthcoming years.

As per Transparency Market Research (TMR), the global hearing aids market is expected to reach US$7.01 bn by 2024, from US$4.7 bn in 2015. Between 2016 and 2024, the global hearing aids market is thus expected to surge at a CAGR of 4.5%.

Increasing Geriatric Population and Awareness to Boost Sales of Hearing Aids

As aged people are more prone to develop hearing impairment, the sales of hearing aids are directly impacted by the current geriatric demographic dynamics in worldwide. In the last of few years, the awareness level among patients and their families regarding hearing impairment has considerably increased. This, combined with the recent advances in the hearing aid technology, is boosting sales of hearing aids worldwide. Furthermore, the advent of rechargeable hearing aids with long lasting and quick charging features will also augment the market’s growth.

Opportunities for the Market in Europe to be Most Lucrative

Regionally, Europe has been exhibiting the most attractive opportunities for companies in the hearing aids market. It emerged dominant with a share of 39% in the global market in 2015. The presence of a large pool of aged people across Western Europe and the increasing willingness among consumers to spend on advanced medical devices have helped Europe attain the lead in the global hearing aids market. The fact that several of the prominent names in the industry are domiciled in the region has also augured well for the market. TMR has pegged the value of the Europe hearing aids market at US$1.8 bn in 2015 and forecasts it to reach US$2.6 bn by the end of 2024, rising at a CAGR 4.1% from 2015 to 2024.

However, the market in Asia Pacific is expected to grow at a fast pace during the forecast period. The prevalence of considerably high unmet medical needs and the rising investment in the health care infrastructure create immense opportunities for sale of hearing aids in Asia Pacific. Besides this, governments across emerging economies are making considerable efforts to educate people about conditions such as health impairments have fuelled demand for hearing aids in the region. As per TMR, the regional market is expected to rise at a CAGR of 5.2% between 2016 and 2024.

hearing-aids-market

 

Increasing Incidence of Hearing Loss in Children to Necessitate Development of New Products

By end user, the global hearing aids market is bifurcated into adult and pediatric. Of these, the adult segment held approximately 94.83% of the market in 2015.The incidence of hearing impairment is higher in developing and under-developed countries because of the high geriatric population in these countries. However, in the forecast period growth exhibited by the pediatric segment is expected to be faster due to the rising prevalence of hearing loss among children.

Key players in this market are Sonova AG (Switzerland), William Demant Holding (Denmark), Siemens Healthcare (Germany), GN ReSound A/S (Denmark), Starkey (U.S.), and Widex A/S (Denmark), among others.

1. Preface
    1.1. Report Description
    1.2. Market Segmentation
    1.3. Research Methodology
    1.4. Assumptions

2. Executive Summary
    2.1. Market Snapshot: Global Hearing Aids Market, 2014 & 2024
    2.2. Global Hearing Aids Revenue, (US$ Mn), 2014–2024 and year-on-year Growth (%)

3. Global Hearing Aid Market – Industry Analysis
    3.1. Overview 
    3.2. Market Definition and Overview
    3.3. Market Dynamics
          3.3.1. Drivers
          3.3.2. Restraints
          3.3.3. Opportunities
    3.4. Market Attractiveness Analysis of Global Hearing Aid Market, by Geography 2015
    3.5. Value Chain Analysis, Hearing Aid Market
    3.6. Porter’s Five Force Analysis : Hearing Aid Market 
          3.6.1. Bargaining Power of Suppliers
          3.6.2. Bargaining Power of Byers
          3.6.3. Threat of Substitutes
          3.6.4. Threat of New Entrants
          3.6.5. Competitive Rivalry
    3.7. Competitive Landscape
          3.7.1. Market Positioning of Key Players, 2015
          3.7.2. Competitive Strategies Adopted by Key Players
          3.7.3. Recommendations 

4. Global Hearing Aid Market Analysis, by Product, (US$ Mn), 2014–2024
    4.1. Overview
          4.1.1. Behind the Ear (BTE)
          4.1.2. Receiver in the Ear (RITE)
          4.1.3. In the Ear (ITE)
          4.1.4. Canal Hearing Aids (ITC),(CIC), & (IIC)
          4.1.5. Bone Anchored Hearing Aids (BAHA)

5. Global Hearing Aid Market Analysis, by End-user
    5.1. Overview
    5.2. Pediatric
    5.3. Adult

6. North America Hearing Aid Market Analysis, (US$ Mn), 2014–2024
    6.1. Overview
    6.2. North America Hearing Aid Market Analysis, by Product, (US$ Mn), 2014–2024
          6.2.1. Behind the Ear (BTE)
          6.2.2. Receiver in the Ear (RITE)
          6.2.3. In the Ear (ITE)
          6.2.4. Canal Hearing Aids (In-the-Canal (ITC),Completely-in-Canal (CIC), & Invisible-in-canal (IIC)
          6.2.5. Bone Anchored Hearing Aids (BAHA)
    6.3. North America Hearing Aid Market Analysis, by End-user, (US$ Mn), 2014–2024
          6.3.1. Pediatric
          6.3.2. Adult

7. Europe Hearing Aid Market Analysis, (US$ Mn), 2014–2024
    7.1. Overview
    7.2. Europe Hearing Aid Market Analysis, by Product, (US$ Mn), 2014–2024
          7.2.1. Behind the Ear (BTE)
          7.2.2. Receiver in the Ear (RITE)
          7.2.3. In the Ear (ITE)
          7.2.4. Canal Hearing Aids (In-the-Canal (ITC),Completely-in-Canal (CIC), & Invisible-in-canal (IIC)
          7.2.5. Bone Anchored Hearing Aids (BAHA)
    7.3. Europe Hearing Aid Market Analysis, by End-user, (US$ Mn), 2014–2024
          7.3.1. Pediatric
          7.3.2. Adult

8. Asia Pacific Hearing Aid Market Analysis, (US$ Mn), 2014–2024
    8.1. Overview
    8.2. Asia Pacific Hearing Aid Market Analysis, by Product, (US$ Mn), 2014–2024
          8.2.1. Behind the Ear (BTE)
          8.2.2. Receiver in the Ear (RITE)
          8.2.3. In the Ear (ITE)
          8.2.4. Canal Hearing Aids (In-the-Canal (ITC),Completely-in-Canal (CIC), & Invisible-in-canal (IIC)
          8.2.5. Bone Anchored Hearing Aids (BAHA)
    8.3. Asia Pacific Hearing Aid Market Analysis, by End-user, (US$ Mn), 2014–2024
          8.3.1. Pediatric
          8.3.2. Adult

9. Latin America Hearing Aid Market Analysis, 2014 – 2024 (US$ Mn)
    9.1. Overview
    9.2. Latin America Hearing Aid Market Analysis, by Product, (US$ Mn), 2014–2024
          9.2.1. Behind the Ear (BTE)
          9.2.2. Receiver in the Ear (RITE)
          9.2.3. In the Ear (ITE)
          9.2.4. Canal Hearing Aids (In-the-Canal (ITC),Completely-in-Canal (CIC), & Invisible-in-canal (IIC)
          9.2.5. Bone Anchored Hearing Aids (BAHA)
    9.3. Latin America Hearing Aid Market Analysis, by End-user, (US$ Mn), 2014–2024
          9.3.1. Pediatric
          9.3.2. Adult

10. Rest of World (ROW) Hearing Aid Market Analysis, (US$ Mn), 2014–2024
    10.1. Overview
    10.2. Rest of World (ROW) Hearing Aid Market Analysis, by Product, (US$ Mn), 2014–2024
          10.2.1. Behind the Ear (BTE)
          10.2.2. Receiver in the Ear (RITE)
          10.2.3. In the Ear (ITE)
          10.2.4. Canal Hearing Aids (In-the-Canal (ITC),Completely-in-Canal (CIC), & Invisible-in-canal (IIC)
          10.2.5. Bone Anchored Hearing Aids (BAHA)
    10.3. Rest of World (ROW) Hearing Aid Market Analysis, by End-user, (US$ Mn), 2014–2024
          10.3.1. Pediatric
          10.3.2. Adult

11. Global Hearing Aid Market, Country Snippets
    11.1. U.S.
    11.2. Canada
    11.3. U.K.
    11.4. Germany
    11.5. France
    11.6. China
    11.7. Japan
    11.8. Brazil

12. Company Profiles
    12.1. Cochlear Limited
          12.1.1. Company Overview
          12.1.2. Product Portfolio
          12.1.3. Financial Overview
          12.1.4. Business Strategies
          12.1.5. Recent Developments
    12.2. GN ReSound Group
          12.2.1. Company Overview
          12.2.2. Product Portfolio
          12.2.3. Financial Overview
          12.2.4. Business Strategies
          12.2.5. Recent Developments
    12.3. GN Otometrics A/S
          12.3.1. Company Overview
          12.3.2. Product Portfolio
          12.3.3. Financial Overview
          12.3.4. Business Strategies
          12.3.5. Recent Developments
    12.4. Siemens Healthcare
          12.4.1. Company Overview
          12.4.2. Product Portfolio
          12.4.3. Financial Overview
          12.4.4. Business Strategies
          12.4.5. Recent Developments
    12.5. Sonova Holding AG
          12.5.1. Company Overview
          12.5.2. Product Portfolio
          12.5.3. Financial Overview
          12.5.4. Business Strategies
          12.5.5. Recent Developments
    12.6. Starkey Hearing Technologies
          12.6.1. Company Overview
          12.6.2. Product Portfolio
          12.6.3. Financial Overview
          12.6.4. Business Strategies
          12.6.5. Recent Developments
    12.7. Widex A/S
          12.7.1. Company Overview
          12.7.2. Product Portfolio
          12.7.3. Financial Overview
          12.7.4. Business Strategies
          12.7.5. Recent Developments
    12.8. SeboTek Hearing Systems, LLC
          12.8.1. Company Overview
          12.8.2. Product Portfolio
          12.8.3. Financial Overview
          12.8.4. Business Strategies
          12.8.5. Recent Developments
    12.9. Audina Hearing Instruments
          12.9.1. Company Overview
          12.9.2. Product Portfolio
          12.9.3. Financial Overview
          12.9.4. Business Strategies
          12.9.5. Recent Developments
    12.10. Amplifon
          12.10.1. Company Overview
          12.10.2. Product Portfolio
          12.10.3. Financial Overview
          12.10.4. Business Strategies
          12.10.5. Recent Developments

List of Figures

FIG. 1 Market Segmentation
FIG. 2 Global Hearing Aid Market Share, by Geography, 2015
FIG. 3 Global Hearing Aid Market Share, by Geography, 2024
FIG. 4 Hearing Aids Market : Global Scenario
FIG. 5 Distribution of Hearing Aid Unit Sales For the Top-18 Dispensing Countries, 2013
FIG. 6 Distribution of People Over 65 Age Across some major Countries
FIG. 7 Prevalence of Disabling Hearing loss in children 0-14 years
FIG. 8 Prevalence of Disabling Hearing loss for adults of 15 years or Older by Selected regions
FIG. 9 Global Distribution of People Suffering with Hearing loss
FIG. 10 Prevalence of disabling hearing loss for all population by selected regions
FIG. 11 Porter’s Five Force Analysis
FIG. 12 Value Chain Analysis
FIG. 13 Market Share Analysis of Major Players in Hearing Aid Market
FIG. 14 Global Hearing Aids Market Revenue, (US$ Mn), 2014–2024
FIG. 15 Global Behind-the-Ear (BTE) Aids Market Revenue, (US$ Mn), 2014–2024
FIG. 16 Global Receiver in the Ear (RITE) Aids Market Revenue, (US$ Mn), 2014–2024
FIG. 17 Global In the Ear (ITE) Aids Market Revenue, (US$ Mn), 2014–2024
FIG. 18 Global Canal Hearing Aids (ITC), (CIC), & (IIC) Market Revenue, (US$ Mn), 2014–2024
FIG. 19 Global Bone Anchored Hearing Aids (BAHA) Market Revenue, (US$ Mn), 2014–2024
FIG. 20 Global Adult Market Revenue, (US$ Mn), 2014–2024
FIG. 21 Global Pediatric Market Revenue, (US$ Mn), 2014–2024
FIG. 22 Cochlear Limited: Annual Revenue, (US$ Mn), 2013–2015
FIG. 23 GN Store Nord A/S: Annual Revenue, (US$ Mn), 2013–2015
FIG. 24 Siemens AG: Annual Revenue, (US$ Mn), 2013–2015
FIG. 25 Sonova Holding: Annual Revenue, (US$ Mn), 2013–2015
FIG. 26 William Demant Holding A/S: Annual Revenue, (US$ Mn), 2013–2015

List of Tables

TABLE 1 Global Hearing Aid Market Snapshot
TABLE 2 Adults over 65 years of both sex suffering from hearing impairment
TABLE 3 Global Hearing Aids Market Revenue, by Product, (US$ Mn), 2014–2024
TABLE 4 Hearing Aid Technology Levels and Pricing
TABLE 5 2013 Reported Average (And Median) Hearing Aid Prices
TABLE 6 Global Hearing Aids Market Revenue, by End-user, (US$ Mn), 2014–2024
TABLE 7 North America Hearing Aids Market Revenue, by Product, (US$ Mn), 2014–2024
TABLE 8 North America Hearing Aids Market Revenue, by End-user, (US$ Mn), 2014–2024
TABLE 9 Europe Hearing Aids Market Revenue, by Product, (US$ Mn), 2014–2024
TABLE 10 Europe Hearing Aids Market Revenue, by End-user, (US$ Mn), 2014–2024
TABLE 11 Asia Pacific Hearing Aids Market Revenue, by Product, (US$ Mn), 2014–2024
TABLE 12 Asia Pacific Hearing Aids Market Revenue, by End-user, (US$ Mn), 2014–2024
TABLE 13 Latin America Hearing Aids Market Revenue, by Product, (US$ Mn), 2014–2024
TABLE 14 Latin America Hearing Aids Market Revenue, by End-user, (US$ Mn), 2014–2024
TABLE 15 Rest of the world Hearing Aids Market Revenue, by Product, (US$ Mn), 2014–2024
TABLE 16 Rest of the world Hearing Aids Market Revenue, by End-user, (US$ Mn), 2014–2024
TABLE 17 North America Hearing Aids Market Revenue, by Country, (US$ Mn), 2014–2024
TABLE 18 Europe Hearing Aids Market Revenue, by Country, (US$ Mn), 2014–2024
TABLE 19 Asia Pacific Hearing Aids Market Revenue, by Country, (US$ Mn), 2014–2024
TABLE 20 Latin America Hearing Aids Market Revenue, by Country, (US$ Mn), 2014–2024

This research study analyzes the hearing aids market in terms of revenue (US$ Mn). The hearing aids market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. The report also includes key market dynamics, such as drivers, restraints, and opportunities, affecting the demand for hearing aids products globally. Comparative analysis has also been included in the executive summary that resembles the percentage market share of each regions in 2015 and 2024, respectively.

This report provides in-depth analysis of the hearing aids market. The stakeholders for this report include companies involved in the manufacturing of hearing aids. For providing a snapshot of this market to the stakeholders, executive summary section is included in this report, which summarizes the market size, trends, and competition in different regions.

The market overview section of this report analyzes market dynamics such as drivers, restraints and opportunities that influence the hearing aids market in the current and future scenario. Market share analysis among the market players is analyzed to signify percentage share of the major players operating in the hearing aids market. All these factors will help the market players to decide about the business strategies and plans to strengthen their positions in the global market.

Based on product type, the hearing aids market has been segmented into behind the ear, receiver in the ear, in the ear, and canal hearing aids. Based on end-user, the market has been categorized into pediatric and adult.

Geographically, the hearing aids market has been differentiated into five major regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. Moreover, analysis for the major countries such as the U.S. Canada, Germany, the U.K., France, Japan, China, and Brazil have also been provided in the report. A detailed qualitative analysis of the factors responsible for driving and restraining the hearing aids market in various regions has been provided in this section.

The report provides market estimation of the hearing aids market in terms of revenue (US$ Mn) for all the segments and sub-segments, with CAGR % for the period from 2016 to 2024, considering 2015 as the base year. Furthermore, the report incorporates market attractiveness analysis, by geography, that depicts the most attractive and significant region in the global market in 2015.

The report concludes with the company profile section, which includes company overview, financial overview, product portfolio, business strategies, and recent developments for market players. Major players profiled in the report include Cochlear Limited, GN ReSound Group, GN Otometrics A/S, Siemens Healthcare, Sonova Holding AG, and Starkey.

The global hearing aids market has been segmented as follows:

  • Global Hearing Aids Market, by Product
    • Hearing Aids
      • Behind the Ear (BTE)
      • Receiver in the Ear (RITE)
      • In the Ear (ITE)
      • Canal Hearing Aids (ITC),(CIC), & (IIC)
    • Bone Anchored Hearing Aids (BAHA)
       
  • Global Hearing Aids Market, by End-user
    • Pediatric
    • Adult
       
  • Global Hearing Aids Market, by Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Rest of Latin America
    • Rest of the World
      • South Africa
      • Russia
      • Rest of Rest of the World


 
 
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