Report ID: CMR963797 | Edition: 7th Global Edition
| The base year for the calculation is 2023 and 2018 to 2023 will be historical period. The year 2023 will be estimated one while the forecasted data will be from year 2023 to 2028. When we deliver the report that time we updated report data till the purchase date. PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access. |
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The global Hearing Aids market was valued at USD 7.81 billion in 2022 and is projected to reach USD 13.10 billion by 2030, registering a CAGR of 6.6 % for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2018-2023 |
Forecast Period | 2023-2030 |
Hearing Aids and Accessories Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
A hearing aid is a tool used to improve hearing by enhancing sound for a person with hearing loss. A hearing aid is a small electronic device that is implanted behind or in the ear. It amplifies some sounds louder so that a person with hearing loss can listen, communicate, and take part in daily activities to a greater extent. People with hearing aids can hear more clearly in both quiet and noisy environments. A hearing aid has three basic components, a microphone, an amplifier, and a speaker. A microphone in the hearing aid picks up sound, transforms it into electrical impulses, and then transmits those signals to an amplifier. The signal's strength is increased by the amplifier, which then transmits it to the ear through a speaker.
An increase in the prevalence of hearing loss is the major factor that drives the demand for hearing aids. Loud noise is one of the most common causes of hearing loss. Over 1 billion people aged 12 to 35 years risk losing their hearing due to prolonged and excessive exposure to loud music and other recreational sounds. Millions of teenagers and young people are at risk of hearing loss due to the unsafe use of personal audio devices and exposure to damaging sound levels at venues such as nightclubs, bars, concerts, and sporting events. In addition, in the Region of the Americas, around 217 million people live with hearing loss, representing 21.52% of the population. It is expected that by 2050, this number could rise to 322 million. These factors contribute to the increase in the demand for hearing aid devices.
Furthermore, the rising geriatric population is the other factor that drives the demand for hearing aids. Hearing loss becomes more common with age, affecting 1/4 of adults in their sixties and nearly 2/3 of Americans aged seventy. This is because cells in the inner ear transmit sounds to the brain can be damaged and lost over time from aging, noise exposure, and other causes. In addition, some common health conditions faced with growing age such as diabetes or high blood pressure are responsible for hearing loss. This will lead to increases in the growth of the hearing aids market.
The high price of hearing aid products is further projected to restrain the growth of the hearing aid market. This is due to the significant amount required for research and development to develop technologically advanced hearing aids. This results in a rise in the cost of production and increases the price for end-user customers. Furthermore, the total expense of devices can increase due to features like artificial intelligence, tinnitus-masking capabilities, wind noise management, directional microphones, noise reduction, and feedback management tools. This is responsible for impeding the growth of the market.
The outbreak of COVID-19 has adversely affected the healthcare industry. The pandemic disrupted global supply chains, leading to shortages of raw materials and components necessary for manufacturing hearing aids. As a result, the diagnosis and treatment of patients with hearing difficulties were disrupted. During the early pandemic, fewer individuals visited hospitals and clinics as a result of the COVID-19 breakout. The Hearing Industries Association (HIA) reports that in the first half of 2020, hearing aid sales decreased by 29.7% in the United States. The pandemic had a negative impact on the overall sales of hearing aid support goods because operations like the cochlear implantation technique, one of the most important therapies to address hearing problems, were delayed. As a result, leading manufacturers' hearing aid sales have declined.
Telehealth services and remote hearing aid fittings were more widely used during the pandemic. Audiologists and hearing healthcare professionals started offering virtual consultations and remote adjustments for existing hearing aid users. This shift allowed individuals to receive necessary support and adjustments for their devices without physical visits to clinics. Telehealth services have made healthcare more convenient and accessible, which has benefited the hearing aid industry. This will lead to an increase in the demand for hearing aid.
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Global Hearing Aids and Accessories Market Report 2023 talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Hearing Aids and Accessories Industry growth. Hearing Aids and Accessories market has been segmented with the help of its Product type, Application Device type, and others. Hearing Aids and Accessories market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The hearing aid devices segment dominated the market with the largest revenue share. This dominance is attributed to hearing aid devices designed to report various levels and types of hearing loss. They utilize advanced technology to amplify sounds, improve speech clarity, and boost general hearing ability. The technology has advanced features like noise reduction, feedback cancellation, and automatic sound modifications made possible by digital signal processing (DSP). Hearing aids devices enable users to better understand conversations, enjoy music, and interact with their surroundings by offering personalized amplification based on their individual hearing needs. This will contribute to an increase in the demand for hearing aids.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Hearing Aids and Accessories Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Hearing Aids and Accessories from 2018 to 2030. This will also help to analyze the demand for Hearing Aids and Accessories across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Application of Hearing Aids and Accessories are:
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Hearing Aids and Accessories market report 2023 Edition by contacting our team.
In 2022, Europe dominated hearing aids with the largest market share of 39.5%. Europe has a rapidly aging population, with a significant proportion of individuals experiencing age-related hearing loss. According to Eurostat, the percentage of the population in Europe over the age of 65 is expected to rise significantly over the next few decades. Due to this demographic trend, Europe is an attractive marketplace for hearing aid suppliers and manufacturers. Furthermore, Europe has developed healthcare systems that have placed a high priority on audiology and hearing health. These countries have an extensive network of medical specialists, such as otolaryngologists and audiologists, who are trained in identifying and treating hearing loss. This robust infrastructure ensures effective hearing aid distribution and accessibility for everyone.
Asia Pacific hearing aids market is projected to witness the fastest growth during the forecast period, from 2023 to 2030. This is due to the Asia Pacific region being home to a significant and rapidly aging population. According to the United Nations, Asia is expected to have the largest number of elderly individuals worldwide. As a result of this demographic change, age-related hearing loss is more common, which increases the need for hearing aids in the region. Furthermore, governments, medical facilities, and campaign organizations are actively promoting hearing health initiatives and encouraging regular hearing tests. As a result, hearing aids are becoming more widely accepted as a treatment for hearing loss. This will lead to an increase in the demand for hearing-aid devices
The current report Scope analyzes Hearing Aids and Accessories Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Hearing Aids and Accessories Market is witnessing significant growth in the near future.
In 2023, the Hearing aid devices segment accounted for noticeable share of global Hearing Aids and Accessories Market and is projected to experience significant growth in the near future.
The Mild hearing loss segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Phonak , GN Store Nord A/S and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Senior Research Associate at Cognitive Market Research
Manjiri Kanhere is an experienced market researcher focused on the Pharma & Healthcare industry. With over 3+ years of experience, She has worked with major pharmaceutical companies and healthcare providers, helping them to understand market trends, identify new business opportunities, and develop effective sales & marketing strategies. Her expertise lies in the ability to analyze complex data sets and deliver insights that drive business decisions. At Cognitive Market Research, she handles the market research related to Pharma and healthcare industry.
Why Hearing aid devices have a significant impact on Hearing Aids and Accessories market? |
What are the key factors affecting the Hearing aid devices and Accessories of Hearing Aids and Accessories Market? |
What is the CAGR/Growth Rate of Mild hearing loss during the forecast period? |
By type, which segment accounted for largest share of the global Hearing Aids and Accessories Market? |
Which region is expected to dominate the global Hearing Aids and Accessories Market within the forecast period? |
Industry segmentation can be altred as per your needs. For example, we can proivde cross slipt between Hearing aid devices with Application, Device type, additional country analysis, volume/consumption data, etc.
Major Product type Analysed |
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Major Application Analysed |
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Major Device type Analysed |
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Major Type of Hearing Loss Analysed |
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Major Technology Analysed |
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Major Patient Type Analysed |
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Major By Distribution Channel Analysed |
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Top Manufacturers Disclosed |
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Global, Regional and Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Hearing Aids and Accessories industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Segmentation Level Customization | |
Global level Data Customization | |
Region level Data Customization | |
Country level Data Customization | |
Company Level | |
Additional Data Analysis | |
Additional Qualitative Data | |
Additional Quantitative Data | |
Service Level Customization | Report Format Alteration |
This chapter helps you to understand the importance of report and how we designed the report scope of Hearing Aids and Accessories market. As per your requirement we can also design the market scope as a customised report.
This chapter provides insights on our data collection and data validation process. It covers detailed information on wide range of sources referred during the study.
At Cognitive Market Research, we have designed questionnaire focused on Hearing Aids and Accessories Market for the statistical study. This questionnaire is the key part of our research methodology which is shared with number of Hearing Aids and Accessories industry experts of entire value chain, located across the globe. This study help us to gather accurate quantitative and qualitative data for the final report.
The executive summary is an overview of a Hearing Aids and Accessories Market Report. In this chapter we have summarized the overall report data in snapshot format.
This chapters incorporated product description overview and regional sales statistics for the year 2018-2030.
This chapter covers a competitive analysis of the global Hearing Aids and Accessories market, and it includes quantitative information such as revenue and market share of the manufacturers. The chapter also includes information regarding the strategies adopted by the manufacturers such as mergers, acquisitions, and new product launches.
ESG analysis is the consideration of all factors in investment including environmental, social, and governance (ESG) factors. ESG integration is key part of the investment process. ESG analysis helps to measure company’s goals and progress when it comes to climate change, social improvement and good governance.
This chapter helps you understand the Market Drivers, Market Restrain, Market Opportunity and Trends by each segment.
This segment of the report provides in-depth and pertinent information on every foremost player in the market through both primary and secondary research. The Company Basic Information, and Sales Area chapter includes ten or more key players, which are dominating the market. Each company profile includes demystifying professional information in a tabular format, which comprises the company’s official website, established year, market position, geographical presence, competitors, and contact information. Further, company profiling includes an in-detailed business overview, COVID-19 impact on the particular firm, product type specifications, revenue & market share, and recent developments done by the company for its inorganic development, such as mergers, strategic acquisitions, partnerships, and others. Besides, profiling includes the company’s investment in research and development activities. The recent innovative product launches, business expansion, investments done by the company in different markets, and other news are also available in the company profiling section. At last, it provides the company’s business strategy and SWOT analysis.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter covers in-detailed insights regarding type segments to understand consumer interests and provide a revenue stream for each type. Type segment analysis help in making a better business decision to maximize profitability by focusing resources on those market type that are relatively favorable to their goals.
This chapter categorizes detailed perceptions into an application segment based on end users’ needs, and preferences to understand their requirements and purchasing patterns effectively. It analyzes the current trends of the market that mainly consists of information related to new product use, trends in consumer demand, and available close substitutes of the product.
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Hearing Aids and Accessories market
Top Companies Market Share in Hearing Aids and Accessories Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables..
Sony Electronics announced the launch of its new OTC (over-the-counter) hearing aid which is the CRE-C10 hearing aid. These hearing aids are packed with intuitive technology to help the consumer not only learn how to use them. In addition, Sony has developed these hearing aids to function as a pair rather than as separate devices with the purpose of a more comfortable and sophisticated listening experience.
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We have listed the discounted pricing including Tax/es. Please kindly note, report pricing and data inclusion depends upon the selection of the report edition + user license. Hence, please kindly choose an appropriate user license depending upon the number of users or employees are going to utilize the report data or the as per the need of the data/consultation services. To know more contact us.
Global Report Edition includes data about 5 major regions and a total of 36 countries. Please refer to the Table of Contents tab. If you require customized data our research team will assist you and provide you with an exclusive report edition delivery. You can also purchase regional and country-level data edition/s. Please get in contact with us prior to making a purchase sales@cognitivemarketresearch.com.
The regional report edition will help you get the data specific to the to selected region from the drop down.
The country specific report edition and the respective table of content will be delivered to you as per your enquiry or you can refer the following link for the same.
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