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Hearing Aids Market worth USD 13.38 Billion at 8.2% CAGR; GN Hearing Launches Revolutionary New Hearing Aid Named ReSound ONE

The global ”hearing aids market” is set to gain impetus from the increasing adoption of telehealth among audiologists to prevent patient traffic. This information is given by Fortune Business Insights™ in a new report, titled, “Hearing Aids Market Size, Share & COVID-19 Impact Analysis, By Product (Hearing Devices (Behind-the-Ear (BTE), In the Ear (ITE), Receiver in the Canal (RIC), Completely in the Canal (CIC), Others (Invisible in the Canal, etc.) and Hearing Implants (Cochlear Implants and Bone Anchored Implants)), By Patient Type (Adults and Pediatrics) By Distribution Channel (Over the Counter (OTC), Medical Channel/ Hospital Pharmacies, Private Practice/ Retail Pharmacies), and Regional Forecast, 2020-2027.” The report further states that the market size was USD 8.99 billion in 2019 and is projected to reach USD 13.38 billion by 2027, exhibiting a CAGR of 8.2% during the forecast period.

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COVID-19 Pandemic to Affect Growth Backed by Postponement of Surgeries

The COVID-19 pandemic has taken a huge toll on the healthcare sector. Most of the hospitals are falling short of beds for coronavirus positive patients. Also, multiple elective surgeries are either being cancelled or postponed to relocate resources. The Hearing Industries Association (HIA) revealed that during the first half of 2020, the sales of hearing aids in the U.S. is set to decline by 29.7%. Our accurate reports will aid in offering detailed information about the current condition of this industry.

Higher Noise Exposure to Boost Growth

The rising cases of hearing loss in the industrialized countries are set to accelerate the global hearing aids market growth in the near future. The World Health Organization (WHO) declared that by 2050, the number of people living with disabling hearing loss will reach over 900 million. Apart from that, physiological aging of the ear, genetic susceptibility, higher noise exposure, vascular disorder, and chronic inflammation would also contribute to the surging demand for these aids. However, the social stigma associated with hearing loss and devices often result in patients missing their check-ups. It may hamper growth.

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Increasing Development of Novel Devices to Spur Growth in Europe

In 2019, North America procured USD 3.37 billion in terms of revenue. The increasing adoption of less noticeable devices to surge the aesthetic appeal would aid growth. Europe is projected to witness lucrative growth throughout the forthcoming years on account of the rising research and development activities to create advanced hearing aids. In Asia Pacific, the increasing old age population is expected to drive growth.

Key Players Focus on Launching Unique Hearing Aids to Fulfill Unmet Needs

The global market houses several manufacturers that are mainly aiming to fulfill the unmet demand from people across the globe. To do so, they are developing novel products equipped with innovative technologies for more comfort. Below are the two latest industry developments:

  • August 2020: GN Hearing launched a revolutionary new hearing aid named ReSound ONE. It has an additional microphone that can be placed inside the ear canal, enabling people to rely on these aids, while gaining the comfort of an open-fit device.
  • April 2020: Phonak unveiled a new telehealth technology that contains a suit of Phonak eSolutions featuring real-time remote hearing aid fine-tuning, programming, and fitting. It also includes online hearing testing to help patients receive care amid COVID-19.

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A list of all the renowned manufacturers operating in the global market:

  • Sonovo (Stafa, Switzerland)
  • Demant A/S (Denmark)
  • GN Store Nord A/S (Ballerup, Denmark)
  • WS Audiology (Denmark)
  • Starkey (Minnesota, U.S.)
  • MED-EL (Medical Electronics) (Innsbruck, Austria)
  • Cochlear Ltd (Sydney, Australia)
  • RION Co., Ltd. (Tokyo, Japan)
  • Other prominent players

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Table of Content:

1 Hearing Aids Market Overview

1.1 Hearing Aids Product Overview

1.2 Hearing Aids Market Segment by Type

1.3 Global Hearing Aids Market Size by Type (2015-2027)

1.3.1 Global Hearing Aids Market Size Overview by Type (2015-2027)

1.3.2 Global Hearing Aids Historic Market Size Review by Type (2015-2021)

1.3.2.1 Global Hearing Aids Sales Market Share Breakdown by Type (2015-2027)

1.3.2.2 Global Hearing Aids Market Share Breakdown by Type (2015-2027)

1.3.2.3 Global Hearing Aids Average Selling Price (ASP) by Type (2015-2027)

1.3.3 Global Hearing Aids Market Size Forecast by Type (2021-2027)

1.3.3.1 Global Hearing Aids Sales Market Share Breakdown by Application (2021-2027)

1.3.3.2 Global Hearing Aids Revenue Market Share Breakdown by Application (2021-2027)

1.3.3.3 Global Hearing Aids Average Selling Price (ASP) by Application (2021-2027)

1.4 Key Regions Market Size Segment by Type (2015-2021)

1.4.1 North America Hearing Aids Sales Breakdown by Type (2015-2027)

1.4.2 Europe Hearing Aids Sales Breakdown by Type (2015-2027)

1.4.3 Asia-Pacific Hearing Aids Sales Breakdown by Type (2015-2027)

1.4.4 Latin America Hearing Aids Sales Breakdown by Type (2015-2027)

1.4.5 Middle East and Africa Hearing Aids Sales Breakdown by Type (2015-2027)

2 Global Hearing Aids Market Competition by Company

2.1 Global Top Players by Hearing Aids Sales (2015-2021)

2.2 Global Top Players by Hearing Aids Revenue (2015-2021)

2.3 Global Top Players Hearing Aids Average Selling Price (ASP) (2015-2021)

2.4 Global Top Company Hearing Aids Manufacturing Base Distribution, Sales Area, Product Type

2.5 Hearing Aids Market Competitive Situation and Trends

2.5.1 Hearing Aids Market Growth Rate (2015-2021)

2.5.2 Global 5 and 10 Largest Company by Hearing Aids Sales and Revenue in 2019

2.6 Global Top Company by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Hearing Aids as of 2019)

2.7 Date of Key Company Enter into Hearing Aids Market

2.8 Key Company Hearing Aids Product Offered

2.9 Mergers and Acquisitions, Expansion

3 Global Hearing Aids Status and Outlook by Region (2015-2027)

3.1 Global Hearing Aids Market Size and CAGR by Region: 2015 VS 2021 VS 2027

3.2 Global Hearing Aids Market Size Market Share by Region (2015-2021)

3.2.1 Global Hearing Aids Sales Market Share by Region (2015-2021)

3.2.2 Global Hearing Aids Revenue Market Share by Region (2015-2021)

3.2.3 Global Hearing Aids Sales, Revenue, Price and Gross Margin (2015-2021)

3.3 Global Hearing Aids Market Size Market Share by Region (2021-2027)

3.3.1 Global Hearing Aids Sales Market Share by Region (2021-2027)

3.3.2 Global Hearing Aids Revenue Market Share by Region (2021-2027)

3.3.3 Global Hearing Aids Sales, Revenue, Price and Gross Margin (2021-2027)

3.4 North America Hearing Aids Market Size By Growth (2015-2027)

3.4.1 North America Hearing Aids Revenue By Growth (2015-2027)

3.4.2 North America Hearing Aids Sales By Growth (2015-2027)

3.5 Asia-Pacific Hearing Aids Market Size By Growth (2015-2027)

3.5.1 Asia-Pacific Hearing Aids Revenue By Growth (2015-2027)

3.5.2 Asia-Pacific Hearing Aids Sales By Growth (2015-2027)

3.6 Europe Hearing Aids Market Size By Growth (2015-2027)

3.6.1 Europe Hearing Aids Revenue By Growth (2015-2027)

3.6.2 Europe Hearing Aids Sales By Growth (2015-2027)

3.7 Latin America Hearing Aids Market Size By Growth (2015-2027)

3.7.1 Latin America Hearing Aids Revenue By Growth (2015-2027)

3.7.2 Latin America Hearing Aids Sales By Growth (2015-2027)

3.8 Middle East and Africa Hearing Aids Market Size By Growth (2015-2027)

3.8.1 Middle East and Africa Hearing Aids Revenue By Growth (2015-2027)

3.8.2 Middle East and Africa Hearing Aids Sales By Growth (2015-2027)

4 Global Hearing Aids by Application

4.1 Hearing Aids Segment by Application

4.1.1 Residential

4.1.2 Commercial

4.2 Global Hearing Aids Sales by Application: 2015 VS 2021 VS 2027

4.3 Global Hearing Aids Historic Sales by Application (2015-2021)

4.4 Global Hearing Aids Forecasted Sales by Application (2021-2027)

4.5 Key Regions Hearing Aids Market Size by Application

4.5.1 North America Hearing Aids by Application

4.5.2 Europe Hearing Aids by Application

4.5.3 Asia-Pacific Hearing Aids by Application

4.5.4 Latin America Hearing Aids by Application

4.5.5 Middle East and Africa Hearing Aids by Application

5 North America Hearing Aids Market Size by Country (2015-2027)

5.1 North America Market Size Market Share by Country (2015-2021)

5.1.1 North America Hearing Aids Sales Market Share by Country (2015-2021)

5.1.2 North America Hearing Aids Revenue Market Share by Country (2015-2021)

5.2 North America Market Size Market Share by Country (2021-2027)

5.2.1 North America Hearing Aids Sales Market Share by Country (2021-2027)

5.2.2 North America Hearing Aids Revenue Market Share by Country (2021-2027)

5.3 North America Market Size By Growth by Country

5.3.1 U.S. Hearing Aids Market Size By Growth (2015-2027)

5.3.2 Canada Hearing Aids Market Size By Growth (2015-2027)

6 Europe Hearing Aids Market Size by Country (2015-2027)

6.1 Europe Market Size Market Share by Country (2015-2021)

6.1.1 Europe Hearing Aids Sales Market Share by Country (2015-2021)

6.1.2 Europe Hearing Aids Revenue Market Share by Country (2015-2021)

6.2 Europe Market Size Market Share by Country (2021-2027)

6.2.1 Europe Hearing Aids Sales Market Share by Country (2021-2027)

6.2.2 Europe Hearing Aids Revenue Market Share by Country (2021-2027)

6.3 Europe Market Size By Growth by Country

6.3.1 Germany Hearing Aids Market Size By Growth (2015-2027)

6.3.2 France Hearing Aids Market Size By Growth (2015-2027)

6.3.3 U.K. Hearing Aids Market Size By Growth (2015-2027)

6.3.4 Italy Hearing Aids Market Size By Growth (2015-2027)

6.3.5 Russia Hearing Aids Market Size By Growth (2015-2027)

7 Asia-Pacific Hearing Aids Market Size by Country (2015-2027)

7.1 Asia-Pacific Market Size Market Share by Country (2015-2021)

7.1.1 Asia-Pacific Hearing Aids Sales Market Share by Country (2015-2021)

7.1.2 Asia-Pacific Hearing Aids Revenue Market Share by Country (2015-2021)

7.2 Asia-Pacific Market Size Market Share by Country (2021-2027)

7.2.1 Asia-Pacific Hearing Aids Sales Market Share by Country (2021-2027)

7.2.2 Asia-Pacific Hearing Aids Revenue Market Share by Country (2021-2027)

7.3 Asia-Pacific Market Size By Growth by Country

7.3.1 China Hearing Aids Market Size By Growth (2015-2027)

7.3.2 Japan Hearing Aids Market Size By Growth (2015-2027)

7.3.3 South Korea Hearing Aids Market Size By Growth (2015-2027)

7.3.4 India Hearing Aids Market Size By Growth (2015-2027)

7.3.5 Australia Hearing Aids Market Size By Growth (2015-2027)

7.3.6 Taiwan Hearing Aids Market Size By Growth (2015-2027)

7.3.7 Indonesia Hearing Aids Market Size By Growth (2015-2027)

7.3.8 Thailand Hearing Aids Market Size By Growth (2015-2027)

7.3.9 Malaysia Hearing Aids Market Size By Growth (2015-2027)

7.3.10 Philippines Hearing Aids Market Size By Growth (2015-2027)

Toc Continue…

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