Vancouver, Dec. 19, 2023 (GLOBE NEWSWIRE) -- The global bone conduction hearing systems market size is expected to reach USD 611.7 Million in 2032 and register a revenue CAGR of 12.1% during the forecast period, according to latest analysis by Emergen Research. Growing prevalence of hearing loss among aging population is one of the major factors driving the market revenue growth. Approximately 2.5 billion individuals are expected to have some degree of hearing loss by the year 2050, and at least 700 million of them would require hearing rehabilitation. In recognition of advancements in technology, hearing aids are now more automated and offer a wide range of special features that enable individuals who have hearing loss to interact with their surroundings through vibrating or flashing lights, driving market revenue growth.
Some factors that are expected to restrain market revenue growth include high costs and product constraints. Bone-Anchored Hearing Aids (BAHA) are more expensive than ordinary hearing aids and need extensive surgery to implant, increasing risk of complications, albeit these are frequently minor.
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Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 193.9 Million |
| CAGR (2023-2032) | 12.1% |
| Revenue forecast to 2032 | USD 611.7 Million |
| Base year for estimation | 2022 |
| Historical data | 2019-2021 |
| Forecast period | 2023-2032 |
| Quantitative units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends. |
| Segments covered | Product type, patient type, end-use, region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, U.K., France, Spain, BENELUX, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA |
| Key companies profiled | Cochlear, Oticon Medical, Medtronic, MED-EL Medical Electronics, BHM-Tech Produktionsgesellschaft mbH, WS Audiology A/S, Shokz, Sonova, Starkey Laboratories, Inc., Microson SAU |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global bone conduction hearing systems market is consolidated, with few large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective bone-conduction hearing systems services. Some major players included in the global bone conduction hearing systems market report are:
- Cochlear
- Oticon Medical
- Medtronic
- MED-EL Medical Electronics
- BHM-Tech Produktionsgesellschaft mbH
- WS Audiology A/S
- Shokz
- Sonova
- Starkey Laboratories, Inc.
- Microson SAU
Strategic Development
- On 07 September 2020, the Smart Hearing Alliance, a special partnership between Cochlear and ReSound, which makes it simple to provide patients with a bimodal solution was established. Through their relationship, ReSound hearing aids and cochlear implants may both be connected to the Internet. Customers may stream directly to their cochlear implant and hearing aid at the same time from compatible iOS or Android smartphones, or a variety of wireless accessories, without the need for intermediary devices thanks to ReSound and Cochlear's shared wireless technology.
- In 2021, the new Ponto 5 line of sound processors for bone-anchored hearing systems was introduced by Oticon Medical with the release of the Ponto 5 Mini, the initial model. This new sound processor raises the bar for the open sound experience, which was originally made possible by the ground-breaking OpenSound Navigator.
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Some Key Highlights From the Report
- The bone anchored hearing aids segment is expected to register a high CAGR during the forecast period. The use of Bone Conduction Hearing Aids (BCHDs) as a kind of treatment for young individuals who are deaf is growing rapidly. The functionality and advantages of Bone-Anchored Hearing Aids (BAHA) are advantageous to patients with auditory atresia or persistent ear drainage who are unable to utilize air-conduction hearing aids. Considering it works better than majority of conventional hearing aids in terms of both looks and acoustics, the BAHA is gaining popularity.
- The adults segment is expected to account for a significantly large revenue share during the forecast period. With aging of the global population, hearing loss in adults has been increasing. Bone conduction hearing aids can help adults with conductive or mixed hearing loss, as well as those who are single-sided deaf. Rising demand for hearing aids among those seeking greater hearing abilities can be attributed to both technological advancements and increasing awareness and acceptance of these devices.
- The market in North America is expected to account for largest revenue share during the forecast period owing to rising prevalence of hearing impairments and more awareness of potential treatment alternatives. The field's technology breakthroughs have produced technologies that are more effective and user-friendly, drawing in a wider consumer base. In addition, the market revenue growth is a result of aging population in North America and prevalence of age-related hearing loss.
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Emergen Research has segmented the global bone conduction hearing systems market on the basis of product type, patient type, end-use, and region:
- Product Type Outlook (Revenue, USD Million; 2019–2032)
-
- Bone Anchored Hearing Aids
- Traditional Bone Conduction Hearing Aids
- Patient Type Outlook (Revenue, USD Million; 2019–2032)
-
- Children/Pediatrics
- Adults
- End-Use Outlook (Revenue, USD Million; 2019–2032)
-
- Hospitals
- ENT Clinics
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
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