WASHINGTON, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Hearing Aids Market finds that the increasing occurrence of hearing loss expedites market growth. In addition, rising demand for Hearing Aids Market systems due to the increase in the elderly population and rising awareness related to hearing loss treatment is anticipated to augment the growth of the Global Hearing Aids Market during the forecast period.
The Global Hearing Aids Market revenue is expected to reach a value USD 13.0 Billion in 2028.
The Global Market revenue was valued at USD 9.9 Billion in 2021 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period; states Vantage Market Research, in a report, titled “Hearing Aids Market Size, Share & Trends Analysis Report by Product Type (In-the-Ear Hearing Aids, Receiver in-the-Ear Hearing Aids, Behind-the-Ear Hearing Aids, Canal Hearing Aids), by Technology Type (Analog, Digital), by Sales Channel (Retail Sales, Government Purchases, E-Commerce), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
Key Industry Findings & Insights from the report:
- The global Hearing Aids Market was valued USD 9.9 Billion in 2021 and is all set to surpass USD 13.0 Billion by 2028, exhibiting a CAGR of 4.7% during the forecast period 2022-2028.
- In terms of revenue, the application segment held the largest revenue share of in 2021 and is estimated to maintain its dominance for the forecast period.
- In terms of revenue, the product segment held the second largest market share of in 2021 and is estimated to grow rapidly during the forecast period.
- The growth can be attributed to rapid urbanization, technological advancement, an increase in investment by developing countries.
- Europe captured the lion share in 2021 and is projected to retain its position over the forecast period. This can be attributed to the existence of a significant number of Hearing Aids industry companies and the high adoption rate owing to government measures that stimulate this industry in this region. The growth is primarily due to the increasing collaborations.
Get Access to a Free Copy of Our Latest Sample Report @ https://www.vantagemarketresearch.com/hearing-aids-market-1785/request-sample
Market Dynamics:
Driver:
Increasing Noise Pollution and Implementation of Hearing Aids Market to Fuel Market Growth
According to estimates, 17 % of adults between 20-69 years old and 12.5 % of adolescents & children aged between 6-19 years old have irreversible hearing loss due to exposure to loud noises, equaling about 26 million adults and 5.2 million children & adolescents. The damage to inner ear structures or nerve fibers that responds to the sound might be the reason for hearing loss. A single exposure to a mainly loud sound and blast will cause hearing loss and continuously listening to loud sounds for an extended time. About 65 thousand children and around 118 thousand adults had gadgets fixed in the United States. As a result, the market for Hearing Aids Market across the world is likely to be driven by extreme noise pollution and growth in Hearing Aids Market applications.
Rise in Elderly Population Base to Stimulate Market Growth
The high expansion in the elderly population is impacting the market growth drastically because of the growing demand for Hearing Aids Market from older people. Moreover, the senior population is prone to hearing loss owing to the changes in the inner ear and auditory nerve, congenital conditions, chronic exposure to loud noises, and other hearing conditions will stimulate the market expansion during the forecast period. As stated by the report of the World Health Organization, the incidence of deafness increases with age; in those older than 60 years, more than 25 percent are suffering from disabling hearing loss. The aged people who get good treatment for hearing impairment might have fewer co-morbid conditions and incur lower healthcare spending.
Purchase This Premium Report (Price 4500 USD for a single-user license) at @ https://www.vantagemarketresearch.com/buy-now/hearing-aids-market-1785/0
Benefits of Purchasing Hearing Aids Market Reports:
- Customer Satisfaction: Our sales team of experts will available for you 24/7.
- Analyst Support: Speak to our analyst about your questions before or after purchasing the report.
- Assured Quality: Focuses on perfection and quality of reports.
- Incomparable Skills: Our Analysts in-depth insights are beyond comparison.
Segment Analysis:
- Product Type
- In-the-Ear Hearing Aids
- Receiver in-the-Ear Hearing Aids
- Behind-the-Ear Hearing Aids
- Canal Hearing Aids
- Technology Type
- Analog
- Digital
- Sales Channel
- Retail Sales
- Government Purchases
- E-Commerce
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The report on Hearing Aids Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- Historic Data, Estimates, and Forecast
- Company Profiles
- Global and Regional Dynamics
Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/hearing-aids-market-1785
Regional Analysis:
Europe is Dominating the Global Hearing Aids Market
In terms of region, Europe leading the Global Hearing Aids Market owing to the highly favorable government policies regarding the assistive listening tools. Also, the positive government initiatives to develop medical device access are likely to drive Hearing Aids Market sales in the United States market. Furthermore, the United States is majorly contributing to the high prevalence of the aged population, the rise of hearing impairment in children, and developments in the regional distribution network of market players. Also, the high adoption rate of highly developed devices, rising patient awareness of the availability of treatment options for hearing disorders, and a sophisticated healthcare system are other key factors anticipated to boost the regional market growth.
List of Prominent Players in Hearing Aids Market:
- Phonak
- Benson Hearing
- GN Store Nord A/S
- Starkey
- MED-EL
- William Demant Holding A/S
- Medtronic
- Widex USA Inc.
- Sivantos Pte. Ltd.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on "Hearing Aids Market Size, Share & Trends Analysis Report by Product Type (In-the-Ear Hearing Aids, Receiver in-the-Ear Hearing Aids, Behind-the-Ear Hearing Aids, Canal Hearing Aids), by Technology Type (Analog, Digital), by Sales Channel (Retail Sales, Government Purchases, E-Commerce), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
Recent Developments:
May 2021: Bose officially launched SoundControl Hearing Aids Market. The new SoundControl™ Hearing Aids Market is the first FDA-cleared, direct-to-consumer Hearing Aids Market made for patients suffering from mild or moderate hearing loss.
Key Questions Answered in The Report:
- Which region will show the fastest and highest growth in the near future?
- Which are the top five players and their weakness and strength of the Market?
- What will be the future innovation in the upcoming six years?
- Which application and product will lead the largest share of the Market?
- What are the growth drivers, restraints and challenges of the industry?
- What will be the CAGR and size of the Hearing Aids Market for the base year and forecast period?
This market titled “Hearing Aids Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Parameter | Details |
| Market Size Provided for Years | 2016-2028 |
| Base Year | 2021 |
| Historic Years | 2016-2020 |
| Forecast Years | 2022-2028 |
| Segments Covered |
|
| Region & Counties Covered |
|
| Companies Covered |
|
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us on sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
Browse More Related Report:
- Bone Graft Substitutes Market Size, Share & Trends Analysis Report by Material Type (Allograft, Synthetic, Composites, Polymers), by Application (Craniomaxillofacial, Dental, Foot & Ankle, Joint Reconstruction), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
- Assistive Technology Market Size, Share & Trends Analysis Report by Product Type (Mobility Impairment Devices, Visual Impairment Devices, Hearing Impairment Devices, Other Product Types), by End-User (Hospitals, Home Care Settings, Other End-Users), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
- Microplate Systems Market Size, Share & Trends Analysis Report by Product (Microplate Readers, Microplate Pipetting Systems & Dispensers, Microplate Washers, Microplate Accessories & Software), by Application (Drug Discovery, Clinical Diagnostics, Genomics & Proteomics Research, Others), by End User (Biotechnology & Pharmaceutical Companies, Hospitals & Diagnostic Laboratories, Academic & Research Institutes), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
- Road Side Drug Testing Devices Market Size, Share & Trends Analysis Report by Modality (Standalone, Handheld), by Substance (Drugs, Alcohol), by Sample Type (Saliva, Urine, Sweat, Others), by End User (Highway Police, Drug Enforcement Agencies, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).
- Top Companies in Hearing Aid Market | Exclusive Research Report Offering Size & Share, Growth Factors, Opportunities, New Product Launches, Price Analysis.
About Vantage Market Research:
We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research reports. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.
Follow Us on LinkedIn: https://www.linkedin.com/company/vantage-market-research/
Follow Us on Twitter: https://twitter.com/vantagemarketr
Follow Us on Facebook: https://www.facebook.com/vantagemarketresearch
Contact us
Eric Kunz
6218 Georgia Avenue NW Ste 1 - 564
Washington DC 20011-5125
United States Tel: +1 202 380 9727
Email: sales@vantagemarketresearch.com
Website: https://www.vantagemarketresearch.com/
Latest Vantage Market Research Press Releases @https://www.vantagemarketresearch.com/insight/press-releases
Latest Vantage Market Research Blog @ https://www.vantagemarketresearch.com/insight/blogs
Blog:
- https://bwsc.kr/
- https://makitirapide.com/
- https://marketstrades.com/
- https://v-mr.biz/
- https://techwire24.com/
- https://eurooo.fr/
- https://basital.de/
- https://emarketbee.com/
- http://globalresearchwire.com/
- https://www.ourdia-medium.fr/
- https://www.ecofege.fr/
