Healthcare Research

Hearing Aids Market 2019, Global Industry Overview, Growth Rate & Forecast till 2024

hearing aids market report 2019
Press Release

According to the global hearing aids market report by IMARC Group, the market size reached a value of US$ 7.4 Billion in 2018. Looking forward, IMARC Group expects the market to reach a value of US$ 10.5 Billion by 2024, registering a CAGR of around 6% during 2019-2024. A hearing aid is a battery-operated device that is placed inside, outside or behind the ear to facilitate improved hearing. Individuals with low hearing abilities wear the device to amplify sounds for effective and seamless communication with others and performing day-to-day activities. The device consists of a speaker, microphone and an amplifier that enhances sound waves and converts them into neural signals that are received by the brain. The device is available in a variety of digital and analog designs, which can be modified according to the requirements of the user.

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Global Hearing Aids Market Trends

The global hearing aids market is primarily driven by the rising geriatric population suffering from various hearing disabilities. Furthermore, the increasing prevalence of ear infections and complications in newborns and infants is providing a further boost to the product sales. Other factors, including the development of aesthetically appealing designs, the integration of cochlear implants and hearing aid technology, along with the enhanced focus on research and development (R&D), are projected to drive the market further.

Global Hearing Aids Market Segmentation:

Market Breakup by Product Type

1. Hearing Devices
2. Hearing Implants

Market Breakup by Hearing Loss

1. Sensorineural Hearing Loss
2. Conductive Hearing Loss

Market Breakup by Patient Type

1. Adults
2. Pediatrics

Market Breakup by Technology Type

1. Analog
2. Digital

Market Breakup by End-User

1. Hospitals
2. ENT Clinics and Audiology Centres
3. Individual
4. Others

Market Breakup by Region

1. Europe
2. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America

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Some of the major players operating in the industry include:

1. Glaxosmithkline
2. Sonova Holding AG
3. Starkey
5. William Demant Holding A/S
6. Widex A/S
7. Sivantos Group
8. GN Store Nord A/S
9. Cochlear Ltd
10. SeboTek Hearing Systems LLC
11. ReSound Group
12. AGX Hearing
13. Audina Hearing Instruments
14. Lisound
15. Banglijian
16. Benson Hearing

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Email: [email protected]
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This post was originally published on Trading Herald

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IMARC is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.