Hearing aids are electroacoustic medical devices designed to amplify ambient sound to compensate for the auditory deficiency of the wearer. Most hearing aids share several similar electronic components, including a microphone that picks up sound, an amplifier circuitry that makes the sound louder, a miniature loudspeaker (receiver) that delivers the amplified sound into the persons ear canal, and batteries that power the electronic parts. The global hearing aids market in terms of revenue is set to grow by US$ 2 billion during 2021-2027, growing at a compound annual growth rate (CAGR) of 5.2% during the forecast period, according to data and analytics company StrategyHelix. Growth in the geriatric population, rising prevalence of hearing loss, increasing availability of advanced hearing aids are expected to boost the market growth in the coming years.
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The report has profiled some of the key players of the market such as Arphi Electronics Private Limited, Audina Hearing Instruments Inc., Ear Teknik Isitme Cihazlar? A.S., Eargo Inc., GN Store Nord A/S, HORENTEK S.r.l., IntriCon Corporation, RION Co. Ltd., Sonova Holding AG, Starkey Hearing Technologies, William Demant Holding A/S, WS Audiology A/S, Xiamen NewSound Technology Co. Ltd., Zounds Inc..
The report provides up-to-date market size data for period 2017-2020 and forecast to 2027 covering key market aspects like sales value for hearing aids. The global hearing aids market is segmented on the basis of product, technology, distribution channel, region, and patient group. By product, it is categorized into behind-the-ear (BTE), receiver in canal (RIC)/receiver in the ear (RITE), in-the-ear (ITE), in-the-canal (ITC), completely-in-the-canal (CIC), and invisible-in-canal (IIC). The behind-the-ear (BTE) segment held the largest market share in 2020. By technology, the hearing aids market is divided into digital, and analog. The digital segment accounted for the largest market share in 2020. Based on distribution channel, the hearing aids market is divided into audiology and ENT clinics, pharmacies, and others. Hearing aids market by region is divided into North America, Asia Pacific, Europe, and Rest of the World (ROW).
Product: behind-the-ear (BTE), receiver in canal (RIC)/receiver in the ear (RITE), in-the-ear (ITE), in-the-canal (ITC), completely-in-the-canal (CIC), and invisible-in-canal (IIC)
Technology: digital, and analog
Distribution channel: audiology and ENT clinics, pharmacies, and others
Patient group: adult, and pediatric
Region: North America, Asia Pacific, Europe, and Rest of the World (ROW)
Years Considered: this report covers the period 2017 to 2027
Key Benefits for Stakeholders
Get a comprehensive picture of the global hearing aids market
Identify regional strategies and strategic priorities on the basis of local data and analysis
Pinpoint growth sectors and trends for investment
Understand what the future of the global hearing aids market looks like
Identify the competitive landscape and window of opportunity
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