Market Overview:
The global hearing aids and audiology devices market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids and audiology devices. The global hearing aids and audiology devices market is segmented on the basis of type into hearing aids and audiology devices. Theaudiologydevices segment is further divided into diagnostic equipment, amplification products, cochlear implants, bone anchored systems (BAS), auditory brainstem implants (ABIs), speech processors, earmolds/earplugs/hearing protectors, and other amplification products.On the basis of application, the global Hearing Aids And Audiology Devices Market is segmented into hospitals & clinics and homecare settings.
Product Definition:
Hearing aids and audiology devices are medical devices that help people with hearing loss to hear better. They do this by amplifying sound and helping to direct it into the ear. Audiology devices also include products like noise-cancelling headphones, which can be helpful for people who work in noisy environments or who have trouble focusing due to background noise.
Hearing Aids:
Hearing aids are devices that help people with hearing disorders. They amplify sounds and assist in the identification of speech patterns. The amplification process is based on two technologies: sound amplification and equalization technology (EQ). A hearing aid consists of a microphone, amplifier, speaker, and often a remote control.
Audiology Devices:
Hearing aids and audiology devices market is expected to grow at a significant rate during the forecast period. The factors that propel the growth of this market include growing geriatric population, increasing prevalence of hearing disorders coupled with technological advancements in amplification and directional audio processing are some high impact rendering drivers for this market. Moreover, rising demand for wireless devices supported by rapid adoption rates of Bluetooth enabled hearing aids are also expected to fuel the growth over the forecast period.
Application Insights:
Based on application, the market is segmented into hospitals, homeuse and others. The hospitals segment dominated the overall industry in terms of revenue in 2017. This high share is attributable to factors such as a large patient base with hearing loss and an increasing number of geriatric population with hearing impairment. According to WHO, by 2050, nearly 50 million people are expected to have hearing loss globally which will increase demand for devices like earbuds and headphones among older population groups thereby driving the growth of this segment over forecast period.
The homeuse application segment is anticipated to witness significant growth over forecast period owing to rising awareness about availability of assistive listening devices at affordable prices coupled with growing disposable income levels among consumers across various regions including Latin America and Asia Pacific. In addition, manufacturers¢â‚¬â„¢ efforts regarding introduction of innovative products along with technological advancements are further expected to drive demand for these devices at homes thereby fueling market growth during the study period.
Regional Analysis:
North America dominated the global market in 2017. The presence of well-developed healthcare infrastructure, high awareness levels regarding audiology devices, and favorable reimbursement policies are some of the major factors responsible for this dominance. In addition, an increase in the prevalence of hearing impairment is expected to drive growth during the forecast period.
Asia Pacific region is anticipated to witness lucrative growth over the forecast period owing to increasing disposable income coupled with rising health awareness among people especially geriatric population group.
Growth Factors:
- Increasing geriatric population: The global aging population is increasing at a rapid pace. This will lead to an increase in the prevalence of hearing loss, which in turn will drive the demand for hearing aids and audiology devices.
- Rising awareness about hearing loss and its treatment options: There is a growing awareness among people about the causes and treatment options for hearing loss. This is likely to boost demand for Hearing Aids and Audiology Devices market in the coming years.
- Technological advancements: The Hearing Aids and Audiology Devices market is witnessing rapid technological advancements, with new products being launched regularly into the marketplaces These innovations are helping to improve patient outcomes, which is driving demand for these devices.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hearing Aids and Audiology Devices Market Research Report
By Type
Hearing Aids, Audiology Devices
By Application
Hospitals, Homeuse
By Companies
Phonak, Starkey, Cochlear, Oticon, Sivantos, Rayovac, GN ReSound, MED-EL, Widex, VARTA, Unitron, Advanced Bionics
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
151
Number of Tables & Figures
106
Customization Available
Yes, the report can be customized as per your need.
Global Hearing Aids and Audiology Devices Market Report Segments:
The global Hearing Aids and Audiology Devices market is segmented on the basis of:
Types
Hearing Aids, Audiology Devices
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hospitals, Homeuse
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Phonak
- Starkey
- Cochlear
- Oticon
- Sivantos
- Rayovac
- GN ReSound
- MED-EL
- Widex
- VARTA
- Unitron
- Advanced Bionics
Highlights of The Hearing Aids and Audiology Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hearing Aids
- Audiology Devices
- By Application:
- Hospitals
- Homeuse
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hearing Aids and Audiology Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hearing aids and audiology devices are medical devices that help people with hearing loss to hear better. They can be used in a variety of ways, including to amplify sound, provide subtitles or closed captioning for the deaf or hard-of-hearing, or help people understand speech in noisy environments.
Some of the key players operating in the hearing aids and audiology devices market are Phonak, Starkey, Cochlear, Oticon, Sivantos, Rayovac, GN ReSound, MED-EL, Widex, VARTA, Unitron, Advanced Bionics.
The hearing aids and audiology devices market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hearing Aids and Audiology Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hearing Aids and Audiology Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hearing Aids and Audiology Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hearing Aids and Audiology Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hearing Aids and Audiology Devices Market Size & Forecast, 2018-2028
4.5.1 Hearing Aids and Audiology Devices Market Size and Y-o-Y Growth
4.5.2 Hearing Aids and Audiology Devices Market Absolute $ Opportunity
Chapter 5 Global Hearing Aids and Audiology Devices Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Hearing Aids and Audiology Devices Market Size Forecast by Type
5.2.1 Hearing Aids
5.2.2 Audiology Devices
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hearing Aids and Audiology Devices Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Hearing Aids and Audiology Devices Market Size Forecast by Applications
6.2.1 Hospitals
6.2.2 Homeuse
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hearing Aids and Audiology Devices Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hearing Aids and Audiology Devices Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Hearing Aids and Audiology Devices Analysis and Forecast
9.1 Introduction
9.2 North America Hearing Aids and Audiology Devices Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Hearing Aids and Audiology Devices Market Size Forecast by Type
9.6.1 Hearing Aids
9.6.2 Audiology Devices
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Hearing Aids and Audiology Devices Market Size Forecast by Applications
9.10.1 Hospitals
9.10.2 Homeuse
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Hearing Aids and Audiology Devices Analysis and Forecast
10.1 Introduction
10.2 Europe Hearing Aids and Audiology Devices Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Hearing Aids and Audiology Devices Market Size Forecast by Type
10.6.1 Hearing Aids
10.6.2 Audiology Devices
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Hearing Aids and Audiology Devices Market Size Forecast by Applications
10.10.1 Hospitals
10.10.2 Homeuse
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Hearing Aids and Audiology Devices Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hearing Aids and Audiology Devices Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Hearing Aids and Audiology Devices Market Size Forecast by Type
11.6.1 Hearing Aids
11.6.2 Audiology Devices
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Hearing Aids and Audiology Devices Market Size Forecast by Applications
11.10.1 Hospitals
11.10.2 Homeuse
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Hearing Aids and Audiology Devices Analysis and Forecast
12.1 Introduction
12.2 Latin America Hearing Aids and Audiology Devices Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Hearing Aids and Audiology Devices Market Size Forecast by Type
12.6.1 Hearing Aids
12.6.2 Audiology Devices
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Hearing Aids and Audiology Devices Market Size Forecast by Applications
12.10.1 Hospitals
12.10.2 Homeuse
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Hearing Aids and Audiology Devices Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hearing Aids and Audiology Devices Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Hearing Aids and Audiology Devices Market Size Forecast by Type
13.6.1 Hearing Aids
13.6.2 Audiology Devices
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Hearing Aids and Audiology Devices Market Size Forecast by Applications
13.10.1 Hospitals
13.10.2 Homeuse
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hearing Aids and Audiology Devices Market: Competitive Dashboard
14.2 Global Hearing Aids and Audiology Devices Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Phonak
14.3.2 Starkey
14.3.3 Cochlear
14.3.4 Oticon
14.3.5 Sivantos
14.3.6 Rayovac
14.3.7 GN ReSound
14.3.8 MED-EL
14.3.9 Widex
14.3.10 VARTA
14.3.11 Unitron
14.3.12 Advanced Bionics
