Digital Hearing Aids Market is Poised to Reach at a CAGR of 5.4% by 2024
The report on “Global Digital Hearing Aids Market” By Product (Hearing AID Devices, Hearing Implants), By Technology Type (Digital and Analog Hearing Aid), By Type of Hearing Loss (Sensorineural and Conductive), By End User (Adults, Pediatrics), By Geography – Industry Trends and Forecast to 2024
Report Analysis and Definition:
The Digital Hearing Aids Market accounted to USD 6.0 billion in 2016 growing at a CAGR of 5.4% during the forecast period of 2017 to 2024.
The hearing aid devices are the medical devices that help the people suffering from disabling hearing impairment. These devices come in various forms which can be worn behind the ear or in the ear. Hearing aids are sound-amplifying devices designed to aid people who have a hearing impairment.
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Summary of Market Drivers and Restraints:
- Rising initiatives by various governments
- Raise awareness about hearing loss treatments
- Rapid growth in aging population
- Technological advancements in the hearing aid devices
- Social stigma associated with the hearing aid devices
- High price of hearing aids
- Unfavorable reimbursement policies
Report Segmentation:
The digital hearing aids market is segmented by product into Hearing AID Devices and Hearing Implants. Hearing AID Devices is sub segmented into receiver-in-the-ear (RITE) hearing AIDS, behind-the-ear (BTE) hearing AIDS, canal hearing AIDS, in-the-ear (ITE) hearing AIDS and others.
On the basis of technology type the market is segmented into digital and analog hearing AID.
On the basis of type of hearing loss the market is segmented into sensorineural and conductive
By end user the market is segmented into adults and pediatrics.
On the basis of geography, digital hearing aids market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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Competitive Analysis:
The digital hearing aids market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of digital hearing aids market for global, Europe, North America, Asia Pacific and South America.
Some of the major players operating in Global Digital Hearing Aids Market Report are:
- Cochlear Ltd.
- GN Store Nord A/S
- MED-EL
- SeboTek Hearing Systems, LLC
- Siemens AG
- Sonova
- Starkey
- Hansaton Akustik GmbH
- Unitron
- William Demant Holding A/S
- WIDEX USA, INC.
- Zounds Hearing
- Medtronic
- GN Hearing A/S
- Benson Medical Instruments
- MicroTech
- Amplifon
- Beltone
- COSELGI
- Elkon Pvt. Ltd.
- Audio Controle Inc.
- General Hearing Instruments, Inc.
- Interton
- Magnatone Hearing Aid Corporation
- Puretone Ltd., RION Co., Ltd. and Entific among others.
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