Hearing aid market- Industry Insight and Trends

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Hearing Aids Market
Global Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2025
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Hearing Aids Market Research Report - Global
Forecast till 2025
Market Highlights According to MRFR analysis,
the global hearing aids market is expected to
register a CAGR of 7 during the forecast period
of 2019 to 2025 and was valued at USD 8 billion
in 2018. A hearing aid is an electronic device
which amplifies sound so that a person with
hearing loss can listen, participate in daily
activities, and communicate with others. The
three basic parts of a hearing aid are a speaker,
an amplifier, and a microphone. The growth of
global hearing aids market is driven by various
factors such as increasing incidence of hearing
loss, the launch of new products, increasing
geriatric population, and raising awareness about
hearing loss treatment. However, the low
penetration of hearing aids and product recalls
are expected to curb the growth of the global
hearing aids market. The global hearing aids
market is currently dominated by several market
players. The key players are involved in product
launches and strategic collaborations to
strengthen their market positions.
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Hearing Aids Market Research Report - Global
Forecast till 2025
Segmentation
The global hearing aids market has been segmented
based on product, product type, type of hearing
loss, technology type, and distribution
channel. The market, based on product, has been
divided into devices, implants, and accessories,
out of which implants is the fastest-growing
segment. For instance, the Australia-based
manufacturer Cochlear Ltd reported a profit of
USD 265 to USD 275 million in first quarter of
2019, 8 to 12 more as compared to that in the
first quarter of 2018. The global hearing aids
market has been segmented, on the basis of
product type, into wired and wireless. Wireless
is the fastest-growing segment owing to
technological advancements and product launches.
For instance, Sonova, in November 2018 launched
products based on SWORD (Sonova Wireless One
Radio Digital) chip. The new technology allows
hearing instruments to connect with electronic
devices such as televisions or mobile phones. The
type of hearing loss segments of the market are
sensorineural, conductive, and others. The growth
of the segment is due to the high prevalence of
hearing loss. For instance, in 2018, around 2 to
3 out of 1000, children in the US are born with a
hearing loss in one or both ears. The technology
type segment of the market is segmented as
digital hearing aids and analog hearing aids. The
digital hearing aids segment is expected to be
both, the largest shareholder and the
fastest-growing segment owing to its advantages
over analog counterparts. The distribution
channel segment is classified into retail stores,
E-commerce, and others. The E-commerce segment is
expected to be the fastest-growing segment owing
to ease of access to products for
customers. Request a Sample Report _at_
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t/8364
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Hearing Aids Market Research Report - Global
Forecast till 2025
Regional Outlook
The global healthcare supply chain management
market is geographically distributed across the
following key regions Asia Pacific, North
America, Europe, and the Middle East
Africa. The Americas is projected to lead the
global healthcare supply chain management market
due to an established healthcare sector,
favorable government initiatives, the presence of
a number of leading biotech and pharmaceutical
organizations, growing in demand for medical
devices and increasing technological advancement.
The medical devices exportation and the
generation of a huge sum of revenue is aiding the
supply chain management in the healthcare sector
in the Americas. Europe is said to be the second
largest region in the global healthcare supply
chain management market. According to the
European Commission publication of 2017, Europe
was one of the leading exporters of
pharmaceutical as well as medicinal products. Add
to this, in 2016, European market accounted for
EUR 144 billion, by exporting pharmaceutical
products across the globe. The rising import and
export activities for healthcare related products
is slated to boost the market in this region.
Asia-Pacific is primed to be the fastest growing
region in the market for healthcare supply chain
management. This is due to the increasing
prevalence of chronic disease and a considerable
increase in the demand for pharmaceutical and
medical products. Additionally, the increasing
expenditure in the healthcare industry is
anticipated to accelerate the growth of the
regional market. Lastly, the Middle East Africa
stands with the lowest share of the market. A
major share of this regional market is reported
to be held by Middle East because of a
comparatively developed healthcare sector and
increasing number of government initiatives to
enhance the healthcare sector.
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Hearing Aids Market Research Report - Global
Forecast till 2025
Application Major Players in this Research
Some of the key players in the global hearing
aids market are Sonova (Switzerland), Cochlear
Ltd. (Australia), GN Store Nord A/S (Denmark),
Sivantos Pte. Ltd. (Singapore), Arphi Electronics
Private Limited (India), Demant A/S (Denmark),
Starkey (US), WIDEX INDIA PRIVATE LIMITED
(Denmark), Zounds Hearing (US), SeboTek Hearing
Systems, LLC (US), Audina Hearing Instruments,
Inc. (US), and Microson (Spain). Get Discount _at_
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t/8364
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Hearing Aids Market Research Report - Global
Forecast till 2025
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