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Global Hearing-Aid Devices Market, By Device Type, By Type, By Hearing-Aid-Devices Style, By Type of Hearing Loss, By Product Type, By Technology Type, By Patient Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2026

Global Hearing-Aid Devices Market, By Device Type, By Type, By Hearing-Aid-Devices Style, By Type of Hearing Loss, By Product Type, By Technology Type, By Patient Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2026

  • October 2021
  • 473 pages
  • ID: 6067202
  • Format: PDF
  • TechSci Research

Summary

Table of Contents

Global Hearing-Aid Devices Market, By Device Type (Prescription-Based v/s Over-the-Counter), By Type (Hearing-Aid Devices v/s Hearing Implants), By Hearing-Aid-Devices Style (Behind-the-ear-aids, In-the-ear-aids, In-the-canal-aids, On-the-ear-aids), By Type of Hearing Loss (Sensorineural v/s Conductive), By Product Type (Wireless v/s Wired), By Technology Type (Digital v/s Analog), By Patient Type (Adult v/s Pediatric), By Distribution Channel ( Offline v/s Online), By Region, Competition Forecast & Opportunities, 2026

Global hearing-aid devices market stood at USD15.86 billion in value terms in 2020 and is expected to grow at a CAGR of 7.59% during the forecast period. Impressive growth in the market can be ascribed to the growing geriatric population which is susceptible to various kinds of hearing impairments and auditory nerve damage. According to the United Nations Department of Economic and Social Affairs, Population Division, the number of persons aged 65 years or above were 702.9 million in 2019. This number is expected to grow at 120% and reach 1548.9 million by 2050. The changing lifestyle pattern especially among the youth has led to an increase in the use of headphones or earphones. Headphones and earphones are being used for watching movies, listening to music, talking on calls, among others. Additionally, people have also started using Bluetooth devices to talk while driving or doing any other task. This has significantly increased hearing problems among the youth thereby driving the growth of hearing aid-devices market. Furthermore, growing prevalence of noise pollution worldwide is expected to increase the demand for hearing aid-devices. Prolonged exposure to noise can lead to irreversible hearing losses among the population coupled with constant ringing in the ears, which is also known as tinnitus. This in turn, has significantly increased the demand for hearing aid-devices, thereby spurring the market growth through 2026.
Global hearing-aid devices market is categorized by device type, type of hearing loss, product type, technology type, patient type, distribution channel, region, and company.In terms of device type, the global hearing-aid devices market can be split into prescription-based and over the counter.

The prescription-based segment dominated the overall hearing-aid devices market with a share of around 98.41% in 2020 and is expected to continue its dominance through 2026. This can be ascribed to the fact that in most parts of the world almost everywhere hearing-aid devices are being sold through prescription. There are only few countries where over-the-counter hearing aid-devices are being sold. However, in the coming years when over-the-counter hearing-aid devices will be available in market by 2022, the over-the-counter hearing aid-devices will witness significant growth. Over-the-counter hearing-aids are expected to enter the market full-fledged by 2022. At present over-the-counter hearing aids are only available in countries like Japan, China, and South Korea but it is expected that after the formulation of guidelines on over-the-counter hearing-aids by the FDA, the over-the-counter hearing-aids will be available across the globe.
The global hearing aid-devices market is well established and quite consolidated with few major players holding a significant market share.Companies like Demant A/S, WS Audiology A/S, Amplifon SpA, among others are holding a significant share in the market.

Also, there are companies like Cochlear Limited which are market leaders when it comes to hearing implants.Demant A/S holds the position of market leader on account of its wide product portfolio comprising of both hearing-aid devices and hearing implants.

However, it is expected that in the coming years there will be many regional players entering the market space especially after the launch of guidelines and policies for over-the-counter hearing-aids by the FDA and their expected commercialization by 2022.The companies operating in the market are following strategies such as mergers & acquisitions, new product launches, getting into collaborations, among others to stay competitive and having an edge over other players in the market.

For instance, in February 2021, GN Store Nord A/S launched ReSound Key which is a hearing-aid line up which provides a value addition to its existing hearing-aid devices technology, globally.

Years considered for this report:

Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F– 2026F

Objective of the Study:

• To analyze the historical growth in the market size of global hearing-aid devices market from 2016 to 2020.
• To estimate and forecast the market size of global hearing-aid devices market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global hearing-aid devices market based on by device type, by type, type of hearing loss, product type, technology type, patient type, distribution channel, region and company.
• To identify dominant region or segment in the global hearing-aid devices market.
• To identify drivers and challenges for global hearing-aid devices market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global hearing-aid devices market.
• To identify and analyze the profile of leading players operating in global hearing-aid devices market.
• To identify key sustainable strategies adopted by market players in global hearing-aid devices market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers, suppliers, and distributors across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research.
The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.TechSci Research calculated the market size of global hearing-aid devices market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years.

The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and distribution channels for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Hearing-aid devices manufacturers, end users, providers, and other stakeholders
• Distributors and suppliers of hearing-aid devices and other stakeholders
• Organizations, forums, and alliances related to hearing-aid devices
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, global hearing-aid devices market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Hearing-Aid Devices Market, By Device Type:
o Prescription-Based
o Over-the-Counter
• Global Hearing-Aid Devices Market, By Type:
o Hearing-Aid Devices
Behind-the-ear-aids
In-the-ear-aids
In-the-canal-aids
On-the-ear-aids
o Hearing Implants
• Global Hearing-Aid Devices Market, By Type of Hearing Loss:
o Sensorineural
o Conductive
• Global Hearing-Aid Devices Market, By Product Type:
o Wireless
o Wired
• Global Hearing-Aid Devices Market, By Technology Type:
o Digital
o Analog
• Global Hearing-Aid Devices Market, By Patient Type:
o Adult
o Pediatric
• Global Hearing-Aid Devices Market, By Distribution Channel:
o Offline
o Online
• Global Hearing-Aid Devices Market, By Region:
o North America
United States
Canada
Mexico
o Europe
Germany
Italy
United Kingdom
France
Spain
o Asia Pacific
China
India
Japan
South Korea
Australia
Indonesia
Philippines
Vietnam
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
South Africa
UAE
Saudi Arabia
Kuwait

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global Hearing-Aid Devices market.

Available Customizations:

With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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