The global hearing aids market is projected to grow at a CAGR of over 4%, in value terms, during the forecast period, 2021-2025.
s on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.
The global hearing aids market is projected to grow at a CAGR of over 4%, in value terms, during the forecast period, 2021-2025. Increasing government advisors and funding, high growth opportunities in the market, excessive noise pollution, which is contributing to the increasing number of patients with hearing problems is driving the hearing aids market, globally. Moreover, technological advancements such as integration of hearing aid devices with Bluetooth connectivity, and Wi-Fi enabled devices are positively influencing the growth of the market.
The global hearing aids market is segmented base on product type, end user and region. Based on product type, Behind-the-ear (BTE) segment dominated the market in 2019 and the trend is projected to continue as well. This is due to the fact that they can fit easily behind the ear and are not visible. Additionally, many BTE models are Bluetooth compatible which is projected to drive the market through 2025.
Some of the major players operating in the global hearing aids market are: ReSound, Widex, Oticon, Siemens AG, Starkey Hearing Technologies Inc., Phonak Hearing Systems, Zounds SeboTek Hearing Systems, LLC, Sivantos Pte. Ltd., GN Store Nord A/S, Cochlear Limited Hearing, Inc., etc.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Objective of the Study:
- To analyze and forecast market size of the global Hearing Aids market, in terms of value & Volume.
- To define, classify and forecast the global hearing aids market on the basis of product type, end user and region.
- To scrutinize the detailed market segmentation and forecast the market size, in terms of value, on the basis of region by segmenting global hearing aids market into five regions, namely, North America, South America, Europe, Asia Pacific and MEA.
- To identify tailwinds and headwinds for the global hearing aids market.
- To examine competitive developments such as expansions, new product launches, supply contracts, and mergers & acquisitions in the global hearing aids market.
- To strategically profile the leading players, which are involved in the supply of hearing aids globally.
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TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of hearing aids manufacturers. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include manufactures and suppliers that could not be identified due to the limitations of secondary research. TechSci Research analysed product type, end user and regional presence of all major hearing aids manufacturers across the globe.
TechSci Research calculated the market size for the global hearing aids market using a bottom-up approach, where manufacturers’ value data for different type of (In the Ear Hearing Aids, In the Canal, Completely in the Canal, Behind the Ear and Receiver in the Canal) hearing aids was recorded as well as forecast for the future years was made. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective supplier or manufacturers to arrive at the overall market size. Various secondary sources such as company annual reports, white papers, investor presentations and financial reports were also used by the TechSci Research.
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