According to the latest study titled ‘Global Hearing Aid Market: World Market Review and Analysis By Technology (Analog, Digital), Product Type, Type of Hearing Loss, End-User, Sales Channel (2019 Edition): Opportunities and Forecast (2014-2024) -- By Product Type (Behind the Ear, In the Ear, Receiver in the Ear, In the Canal, Completely in the Canal, Others), By Hearing Loss (Conductive, Sensorineural), By Distribution Channel (Independent Sellers, Retailers, Wholesale, E- Commerce, Hospital Pharmacy, Others), By End User (Pediatric, Adult)’ available with Market Study Report LLC, the global hearing aid market is estimated to grow with a CAGR of 6.15% through 2024.
Hearing aids are devices that help in amplifying sound to treat hearing impairments. The propelling factors for the growth of the global hearing aid market include the technological advancements in hearing aid production such as appealing miniature devices, increase in prevalence of hearing loss, as well as rise in global geriatric population susceptible to hearing loss.
The study examines the market for revenue shares and growth opportunities by different segments. Moreover, it provides an exhaustive understanding about drivers and challenges, and drivers influencing the market growth.
Based on product type, the hearing aid market is segmented into in the ear, behind the ear, in the canal, receiver in the ear, completely in the canal, and others. As per the report, receiver in the ear hearing aid segment will observe a decent growth through the forecast duration, due to production of natural sound without noise and feedback, availability of wireless and telecoil options associated with the device and automatic nature of adjustment to external environment. Speaking of the hearing loss, the market is bifurcated into sensorineural, and conductive.
Additionally, based on technology, the industry is divided into analog and digital. While based on end-user spectrum, the hearing aid market is split into adult and pediatric. Base on distribution channel, the global hearing aid market is divided into retailers, independent sellers, pharmacy, e- commerce hospital, and others.
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Considering the geographical landscape, the global hearing aid market is fragmented into four major regions, namely, North America, Asia Pacific, Europe, and rest of the world.
Some of the vendors that operate in hearing aid market are Widex A/S, Sivantos Pte Ltd, Sonova Holding AG, Starkey Hearing Technologies, G.N. Store Nord, William Demant Holding A/S, Amplifon SpA, Cochlear Limited, RION Co. ltd., and Med-El.
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