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Hearing Aids Market: Forecast until 2022

  • November 2017
  • 188 pages
  • ID: 5196133
In this report:
The hearing aid devices segment is expected to account for the largest share of ##.##% of the global hearing aids market in 2017, while the hearing implants segment is projected to register the highest CAGR of ##.##% during the forecast period.
This segment is expected to account for a share of ##.##% of the hearing aid devices market in 2017; it is projected to reach USD ##.## million by 2022 from USD ##.## million in 2017, at a CAGR of ##.##% during the forecast period.

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"Global hearing aids market forecasted to grow at a CAGR (Compound annual growth rate) of 7.00 percent"

The hearing aids market is forecasted to reach ~$9.8B by 2022 from ~$7.0B in 2017, at a compound annual growth rate (CAGR) of 7.00 percent. The high prevalence of hearing loss, increasing geriatric population, and technological improvements in hearing aids are driving the increase of this market. On the other hand, industry growth may be hindered due to the high cost of hearing aids and the low penetration of these devices.

"Hearing aid devices to lead the industry during the outlook period"

By product, the hearing aids market is split into hearing aid devices and hearing implants. The hearing aid devices segment is forecasted to hold the biggest market share in 2017, while the hearing implants segment is expected to register the highest CAGR (Compound annual growth rate) during the estimate period. Rise in approval from the government agencies for hearing implants is the main factor driving the increase of this segment.

"Sensorineural hearing loss segment to hold the largest market share in 2017"

Established on type of hearing loss, the hearing aids market is divided into sensorineural hearing loss and conductive hearing loss. The sensorineural hearing loss segment is forecasted to dominate this industry, due to high prevalence of SNHL and growing initiatives by corporations and regulatory authorities to expand hearing aid devices for SNHL treatment.

"Adult patients segment to witness high rise during the outlook period"

Established on patient type, the hearing aids market is broken down into adult patients and pediatric patients. The adult patient segment is intended to account for the biggest share and is expected to register the more significant Compound annual growth rate due to the high prevalence of hearing loss in the adult population due to ageing.

"Asia to witness high increase during the estimate period"

In 2017, EU is forecasted to account for the biggest share of the market succeeded by North America (NA). Nevertheless, Asia continent is projected to register the highest compound annual growth rate (CAGR) during the outlook period. The important increase in this industry segment is assigned to high prevalence of hearing loss, availability of technologically advanced hearing aids, increase in the aging population, and rising initiatives by firms to expand in these emerging economies.

The primary interviews conducted for this business report can be categorized as follows:

• By Company category: Tier 1 - 33.0 percent; Tier 2 - 45.0 percent; Tier 3 - 22%.

• By Description: C-suite - 22.0 percent; D-level - 28.0 percent; Others - 50%.

• By Area: North America continent - 48.0 percent; Europe (EU) - 21.0 percent; Asia area - 26.0 percent; RoW - 5%.

Segment Research

The industry report offers an overview of the hearing aids market. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including product, type of hearing loss, patient type, and area. Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate industry top players/new sector entrants in this sector by providing them with the closest approximations of revenues for the global hearing aids market and its sub-segments. This industry report will facilitate partners to comprehend the competitive landscape better and acquire business insights to position their businesses and help firms make suitable go-to-market approaches. The market research also benefits partners comprehend the pulse of the sector and offer them with info concerning main market drivers and alternatives.

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