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The hearing aid market is segmented by Product (Hearing aids and Hearing implants) and Geography (Europe, North America, Asia, and Rest of World (ROW))
NEW YORK, Aug. 23, 2022 /PRNewswire/ — The global hearing aid market is expected to grow by USD 3.72 billion from 2020 to 2025, progressing at a CAGR of 7.73 % according to Technavio’s latest market report. An increase in the development of new products is one of the key hearing aid market trends that is expected to impact the industry positively in the forecast period. Advanced features such as biometrics analysis, smartphone connectivity, RFID sensors, and voice search options have emerged as top trending features across the healthcare industry. Smartphone connectivity provides users with better monitoring capabilities and enhanced connectivity. For instance, an IoT-integrated hearing aid device could easily establish a connection with a smartphone via Bluetooth, which transmits the sound directly to the earpiece. Such features eliminate the need for extra earphones. Furthermore, a few additional features such as noise reduction capability, data capture, and automatic adjustment are preferred by users. All this will further support the market growth in the coming years.
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Technavio report extensively covers hearing aid market segmentation by product (hearing aids and hearing implants) and geography (Europe, North America, Asia, and Rest of World (ROW)).
- Revenue Generating Segment – The hearing aid market share growth in the hearing aids segment will be significant for revenue generation. In the coming years, BTE hearing aids are expected to gain higher popularity in the market than other hearing devices, as they are ideal for most people with hearing problems.
- Regional Analysis – 37% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for hearing aid in Europe. Market growth in this region will be faster than the growth of the market in the Rest of the World (ROW). The rise in the aging population and the prevalence of hearing loss will facilitate the hearing aid market growth in Europe over the forecast period.
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The following factors are expected to drive the growth of the market during the forecast period:
- Global rise in the number of patients with hearing loss
- Growth in the use of binaural hearing aids
- Growing focus on compliance with industrial standards
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The hearing aid market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market. The hearing aid market report also offers information on several market vendors, including Amplifon SpA, Arphi Electronics Pvt. Ltd., Audicus Inc., Audina Hearing Instruments Inc., Cochlear Ltd., Demant AS, Eargo Inc, Elkon Pvt. Ltd., GN Store Nord AS, HORENTEK Srl, Lisound Hearing Aid Fuzhou Co. Ltd., MED-EL Elektromedizinische Gerate GmbH, Medtronic Plc, RION Co. Ltd., SeboTek Hearing Systems LLC, Sonova Holding AG, Soundwave Hearing LLC, Starkey Laboratories Inc., WS Audiology AS, and Zounds Hearing Inc. among others.
- Amplifon SpA – The company offers a wide range of hearing aids such as Invisible hearing aids and behind the ear.
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- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist hearing aid market growth during the next five years
- Estimation of the hearing aid market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the hearing aid market across Europe, North America, APAC, and South America
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of hearing aid market vendors
The competitive scenario provided in the Hearing Aid Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.Don’t wait, Make a strategic approach & boost your business goals with our Hearing Aid Market Forecast Report – Buy Now!
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Hearing Aid Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.73% |
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Market growth 2021-2025 |
USD 3.72 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
5.3 |
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Regional analysis |
Europe, North America, APAC, and South America |
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Performing market contribution |
Europe at 37% |
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Key consumer countries |
US, Germany, France, and Japan |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Amplifon Spa, Audina Hearing Instruments Inc., Cochlear Ltd., Demant AS, GN Store Nord AS, MED-EL Elektromedizinische Geräte GmbH, Rion Co. Ltd., Sonova Holding AG, Starkey Laboratories Inc., and WS Audiology AS |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments. |
Browse for Technavio “Healthcare Market” Research Reports
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Healthcare equipment
3 Market Sizing
- 3.1 Market definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 – 2025
- Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ million)
- Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition – Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product – Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Hearing devices – Market size and forecast 2020-2025
- Exhibit 17: Hearing devices – Market size and forecast 2020-2025 ($ million)
- Exhibit 18: Hearing devices – Year-over-year growth 2020-2025 (%)
- 5.4 Hearing implants – Market size and forecast 2020-2025
- Exhibit 19: Hearing Implants – Market size and forecast 2020-2025 ($ million)
- Exhibit 20: Hearing implants – Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Product
- Exhibit 21: Market opportunity by Product
6 Market Segmentation by End-user
- 6.1 Market segments
7 Customer landscape
8 Geographic Landscape
- 8.1 Geographic segmentation
- 8.2 Geographic comparison
- 8.3 Europe – Market size and forecast 2020-2025
- 8.4 North America – Market size and forecast 2020-2025
- 8.5 Asia – Market size and forecast 2020-2025
- 8.6 ROW – Market size and forecast 2020-2025
- 8.7 Key leading countries
- 8.8 Market opportunity by geography
9 Drivers, Challenges, and Trends
- 9.1 Market drivers
- 9.2 Market challenges
- 9.3 Market trends
10 Vendor Landscape
- 10.1 Overview
- 10.2 Landscape disruption
11 Vendor Analysis
- 11.1 Vendors covered
- 11.2 Market positioning of vendors
- 11.3 Amplifon Ltd
- 11.4 Audina Hearing Instruments Inc.
- 11.5 Cochlear Ltd.
- 11.6 Demant AS
- 11.7 GN Store Nord AS
- 11.8 MED-EL Elektromedizinische Gerate GmbH
- 11.9 RION Co. Ltd.
- 11.10 Sonova Holding AG
- 11.11 Starkey Laboratories Inc.
- 11.12 WS Audiology AS
12 Appendix
- 12.1 Scope of the report
- 12.2 Currency conversion rates for US$
- 12.3 Research methodology
- 12.4 List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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