Seattle, Aug. 19, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global hearing aids market is estimated to be valued at US$ 10,107.8 million in 2022 and is expected to exhibit a CAGR of 6.9% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Hearing Aids Market:
Major players operating in market are focusing on adopting inorganic growth strategies such as partnerships, which is expected to drive the market growth over the forecast period. For instance, in July 2022, Bose Corporation, a Japan-based manufacturer of electronic equipment and Lexie Hearing, a U.S. direct hearing aid supplier, announced a partnership to bring Bose's self-adapting hearing aid technology to the Lexie Hearing product line. The new Lexie B1 hearing aids would be powered by Bose, allowing wearers to fit, program and control their hearing aids with clinically proven audiological quality results, without a doctor visit, hearing test or prescription.
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Key Market Takeaways:
Global hearing aids market is expected to exhibit a CAGR of 6.9% during the forecast period owing to the increase in geriatric population around the world, rising adoption of smart hearing aids, and growth in incidence of noise-induced hearing loss
Among product type, hearing aid devices segment is expected to hold a dominant position over the forecast period, primarily due to the introduction of novel and advanced products by key players in market and the increasing geriatric population.
On the basis of patient type, adult segment is expected to hold a dominant position over the forecast period, as higher liability to hearing loss makes adults a key segment of the overall patient pool
Competitive Landscape:
Key players operating in the global hearing aids market include Sonova, Starkey Laboratories, Inc., GN Hearing, Oticon, Demant A/S, Cochlear Ltd., Eargo Inc., WS Audiology A/S, RION Co., Ltd., MED-EL (Medical Electronics), Amplifon S.p.A, Audina Hearing Instruments, Inc., Sonic Innovations, Inc., and Zounds Hearing
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Market Segmentation:
- Global Hearing Aids Market, By Product Type:
- Hearing Aid Devices
- Behind-The-Ear (BTE) Hearing Aids
- Receiver-In-Canal (RIC) Hearing Aids
- In-The-Ear (ITE) Hearing Aids
- In-The-Canal (ITC) Hearing Aids
- Completely-In-Canal (CIC) Hearing Aids
- Others
- Hearing Implants
- Cochlear Implants
- Bone-anchored System
- Hearing Aid Devices
- Global Hearing Aids Market, By Type of Hearing Loss:
- Conductive Hearing Loss
- Sensorineural Hearing Loss
- Mixed Hearing Loss
- Global Hearing Aids Market, By Patient Type:
- Adults
- Pediatrics
- Global Hearing Aids Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Region/Country
- South Africa
- Central Africa
- North Africa
- By Region/Country
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
