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Hearing Aids Market To Surge in the End-use Industry During the Forecast Period 2020 – 2026

According to a new report published by Polaris Market Research, the global hearing aids market is anticipated to reach USD 6,992.1 million by 2025. In 2017, by technology, digital technology segment dominated the market in terms of revenue and hold major share in the market. Regionally, Europe accounted for the major share in the hearing aid market.

The hearing aid market is primarily driven by increasing incidences of hearing loss due caused due to increased noise pollution, rising geriatric population, and need for continuous technological advancement of the devices. Moreover, deafness due to ear infections, and birth complications also influence the growth of hearing aids market during the forecast period.

The leading companies operating in this industry include Sonova, Gn Store Nord, William Demant Holding A/S, Widex A/S, Sivantos, Starkey, Zounds Hearing, Sebotek Hearing Systems, Benson Hearing, Microteck Systems, Medtronics, and Microscan.

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 Behind the ear (BTE) hearing aid constitutes a major market share owning to its benefits like high efficiency, easy use, and better connectivity. However, canal hearing aids are estimated to grow at a higher rate due to the increased preference for invisible aids with better functions and connectivity.

Based on the patient type the hearing aids market is segment as adult patients and pediatric patients. Adult patient hearing aid market anticipated higher growth during the forecast period. This growth is majorly attribute by increasing number of geriatric population worldwide and increasing incidences of hearing loss.

Europe holds a dominating position in the global hearing aids market which is followed by North America and Asia Pacific. The growth in the European hearing aids market is majorly driven by the increasing number of geriatric population, increased prevalence of hearing loss, and availability of technological advanced hearing aids. However, high cost of the devices can impede the growth of hearing aid market in Europe.

Key Findings from the study suggest products available in the market are continuously concentrating on the technological advancements. Companies while developing new technology considers the factors such as increasing disposable income and increasing number of geriatric population globally. Europe is presumed to dominate the global hearing aid market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world

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Hearing Aids Market Detail Analysis | Renowned Players Covered as zounds hearing, audina hearing instruments, inc., widex india private limited, sonova. | by 2027

The Insight Partners published a new report, titled, “Hearing Aids Market”. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain a competitive advantage.

The COVID-19 outbreak is currently going the world over, the Hearing Aids market report covers the impact of the corona-virus on top company’s growth. This research report categorizes as the key players in the Hot Hearing Aids market and also gives a comprehensive study of Covid-19 impact analysis of the market by regions like (Americas, Europe APAC, and EMEA).

Hearing aid is a medical device used to amplify the sound so that the person can clearly hear. Various hearing aids products available in the market are bone-anchored systems, canal hearing aids, in-the-ear (ITE) hearing aids, cochlear implants, behind-the-ear (BTE) hearing aids, and receiver-in-the-ear (RITE) hearing aids among others.

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Technological advancements in hearing aids and rising incidences of hearing problems across the global population are the major drivers which are likely to propel the growth of Hearing aid market. Escalating levels of noise pollution globally and growing geriatric population are likely to add new opportunities for this market in the coming years.

Key Players:

1.Zounds Hearing
2. Audina Hearing Instruments, Inc.
3. Widex India Private Limited
4. Sonova
5. Sivantos Pte. Ltd.
6. GN Store Nord A/S
7. MED-EL
8. William Demant Holding A/S
9. Cochlear Ltd.
10. Rion Co., Ltd.

The report analyzes factors affecting market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions.

Hearing aids Market – Global Analysis to 2027 is an expert compiled study which provides a holistic view of the market covering current trends and future scope with respect to product/service, the report also covers competitive analysis to understand the presence of key vendors in the companies by analyzing their product/services, key financial facts, details SWOT analysis and key development in last three years.

Further chapter such as industry landscape and competitive landscape provides the reader with recent company level insights covering mergers and acquisitions, joint ventures, collaborations, new product developments/strategies taking place across the ecosystem. The chapters also evaluate the key vendors by mapping all the relevant products and services to exhibit the ranking/position of top 5 key vendors.

Key Reasons:

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Hearing aids market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global Hearing aids market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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