Tag Archives: Hearing Aids Market

Hearing Aids Market : Strategies & Insights, & Recent Developments

A new research report by Transparency Market Research states that the competition in the global hearing aids market is quite consolidated one. Analysts state that Sonava held a share of 25% in the global market in 2015. According to the research report, the top six companies in the global market held a share of 98% in 2015. “High investments made in setting up production facilities and research and development centers have given these companies an edge over others in the past few years,” states the leading author of this research report. The companies are expected to have several lucrative opportunities in the near future as hearing impairment emerges as a chronic condition.

This 94 page report gives readers a comprehensive overview of the hearing aids market. Browse through 20 data tables and 26 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/hearing-aid-market.html

Unmet Medical Needs of Asia Pacific Strengthen Regional Segment

The research report states that the opportunity in the global hearing aids market will be worth US$7.01 bn by 2024 as compared to US$4.7 bn in 2015. During the forecast period of 2016 and 2024, the global market is expected to progress at a CAGR of 4.5%. The market will be primarily growing demand for adult hearing aids, which held a share of 94.83% in the overall market in 2015. Analysts predict that rising pool of geriatrics will accelerate the demand for adult hearing aids, especially in the developing countries due to rising disposable incomes. In tandem with this emerging trend, Asia Pacific is projected to witness a spectacular consumption of hearing aids during the forecast period. The demand will also be a result of huge unmet medical needs in the region.

Susceptibility to Impaired Hearing Amongst Geriatrics becomes Premise for Market Growth

The global hearing aids market has been thriving due to the growing pool of the aged people who are susceptible to developing hearing impairments. Thus, regions that boast dense geriatric population will augment the demand for hearing aids in the near future. The growing awareness about benefits of using hearing aids and the introduction of a wide range of hearing aids has also propelled the growth of the global market. Technological advancements in improving the quality of hearing and ensuring comfort for the wearer have also resulted in rising sales of hearing aids across the globe over the past few years. The availability of rechargeable hearing aids has also favored market’s growth.

Initiatives and efforts taken by governments in both developing and developed regions to help citizens suffering from hearing loss have resulted in a positive influence on the global market. Favorable regulatory policies along with growing investments to upgrade the overall health status of individuals in developing countries has resulted in surging demand for hearing aids in recent years. In terms of regions, Europe is expected to lead the global hearing aids market in the coming years due to a significant pool of geriatrics in the region, who have the capacity to pay for medical treatments and devices. On the other hand, the ever-increasing population base of Asia Pacific is also projected to fuel the regional growth of the market. Though the demand for adult hearing aids is expected to dominate, the pediatric hearing aids are also anticipated to be an emerging segment in the next few years.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving hearing aids market during 2016 – 2024: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4952

Unaffordability of Hearing Aids Cools Consumer Expenditure

Despite the strong market drivers, the global market is being overshadowed by the high cost of hearing aids, which makes it an unreachable medical device for many. Additionally, the need to replace this device due to wear and tear has also hampered its uptake amongst a sizeable population in several developing and underdeveloped countries, where spending money on healthcare is not feasible. The market is also facing the music as loss of hearing is seldom diagnosed at early stages. Thus, all of the aforementioned factors are likely to dampen the market’s spirit in the coming years.

This review is based on Transparency Market’s research report, titled Hearing Aids Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

 

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Global Hearing Aids Market to reach US$ 7.01 Bn in 2024: Transparency Market Research

As per Transparency Market Research (TMR), the global hearing aids market is expected to reach US$7.01 bn by 2024, from US$4.7 bn in 2015. Between 2016 and 2024, the global hearing aids market is thus expected to surge at a CAGR of 4.5%.

Early detection and treatment of hearing loss can mitigate the severity of deafness and could improve the condition of those suffering from the condition. As per World Health Organization, in 2015 the hearing aid production globally, hardly met 10% of the total need and a meager 3% of demand across developing countries. This provides the global hearing aids market with substantial opportunities to gain from in the forthcoming years.

This 94 page report gives readers a comprehensive overview of the hearing aids market. Browse through 20 data tables and 26 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/hearing-aid-market.html

Increasing Geriatric Population and Awareness to Boost Sales of Hearing Aids

As aged people are more prone to develop hearing impairment, the sales of hearing aids are directly impacted by the current geriatric demographic dynamics in worldwide. In the last of few years, the awareness level among patients and their families regarding hearing impairment has considerably increased. This, combined with the recent advances in the hearing aid technology, is boosting sales of hearing aids worldwide. Furthermore, the advent of rechargeable hearing aids with long lasting and quick charging features will also augment the market’s growth.

Opportunities for the Market in Europe to be Most Lucrative

Regionally, Europe has been exhibiting the most attractive opportunities for companies in the hearing aids market. It emerged dominant with a share of 39% in the global market in 2015. The presence of a large pool of aged people across Western Europe and the increasing willingness among consumers to spend on advanced medical devices have helped Europe attain the lead in the global hearing aids market. The fact that several of the prominent names in the industry are domiciled in the region has also augured well for the market. TMR has pegged the value of the Europe hearing aids market at US$1.8 bn in 2015 and forecasts it to reach US$2.6 bn by the end of 2024, rising at a CAGR 4.1% from 2015 to 2024.

However, the market in Asia Pacific is expected to grow at a fast pace during the forecast period. The prevalence of considerably high unmet medical needs and the rising investment in the health care infrastructure create immense opportunities for sale of hearing aids in Asia Pacific. Besides this, governments across emerging economies are making considerable efforts to educate people about conditions such as health impairments have fuelled demand for hearing aids in the region. As per TMR, the regional market is expected to rise at a CAGR of 5.2% between 2016 and 2024.

Request a sample of this report to know what opportunities will emerge in the rapidly evolving hearing aids market during 2016 – 2024: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4952

Increasing Incidence of Hearing Loss in Children to Necessitate Development of New Products

By end user, the global hearing aids market is bifurcated into adult and pediatric. Of these, the adult segment held approximately 94.83% of the market in 2015.The incidence of hearing impairment is higher in developing and under-developed countries because of the high geriatric population in these countries. However, in the forecast period growth exhibited by the pediatric segment is expected to be faster due to the rising prevalence of hearing loss among children.

Key players in this market are Sonova AG (Switzerland), William Demant Holding (Denmark), Siemens Healthcare (Germany), GN ReSound A/S (Denmark), Starkey (U.S.), and Widex A/S (Denmark), among others.

 

Hearing Aids Market Driven by Increasing Geriatric Population and Awareness

As per Transparency Market Research (TMR), the global hearing aids market is expected to reach US$7.01 bn by 2024, from US$4.7 bn in 2015. Between 2016 and 2024, the global hearing aids market is thus expected to surge at a CAGR of 4.5%.

Early detection and treatment of hearing loss can mitigate the severity of deafness and could improve the condition of those suffering from the condition. As per World Health Organization, in 2015 the hearing aid production globally, hardly met 10% of the total need and a meager 3% of demand across developing countries. This provides the global hearing aids market with substantial opportunities to gain from in the forthcoming years.

Read Full Report: http://www.transparencymarketresearch.com/hearing-aid-market.html

Increasing Geriatric Population and Awareness to Boost Sales of Hearing Aids

As aged people are more prone to develop hearing impairment, the sales of hearing aids are directly impacted by the current geriatric demographic dynamics in worldwide. In the last of few years, the awareness level among patients and their families regarding hearing impairment has considerably increased. This, combined with the recent advances in the hearing aid technology, is boosting sales of hearing aids worldwide. Furthermore, the advent of rechargeable hearing aids with long lasting and quick charging features will also augment the market’s growth.

Opportunities for the Market in Europe to be Most Lucrative

Regionally, Europe has been exhibiting the most attractive opportunities for companies in the hearing aids market. It emerged dominant with a share of 39% in the global market in 2015. The presence of a large pool of aged people across Western Europe and the increasing willingness among consumers to spend on advanced medical devices have helped Europe attain the lead in the global hearing aids market. The fact that several of the prominent names in the industry are domiciled in the region has also augured well for the market. TMR has pegged the value of the Europe hearing aids market at US$1.8 bn in 2015 and forecasts it to reach US$2.6 bn by the end of 2024, rising at a CAGR 4.1% from 2015 to 2024.

However, the market in Asia Pacific is expected to grow at a fast pace during the forecast period. The prevalence of considerably high unmet medical needs and the rising investment in the health care infrastructure create immense opportunities for sale of hearing aids in Asia Pacific. Besides this, governments across emerging economies are making considerable efforts to educate people about conditions such as health impairments have fuelled demand for hearing aids in the region. As per TMR, the regional market is expected to rise at a CAGR of 5.2% between 2016 and 2024.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4952

Increasing Incidence of Hearing Loss in Children to Necessitate Development of New Products

By end user, the global hearing aids market is bifurcated into adult and pediatric. Of these, the adult segment held approximately 94.83% of the market in 2015.The incidence of hearing impairment is higher in developing and under-developed countries because of the high geriatric population in these countries. However, in the forecast period growth exhibited by the pediatric segment is expected to be faster due to the rising prevalence of hearing loss among children.

Key players in this market are Sonova AG (Switzerland), William Demant Holding (Denmark), Siemens Healthcare (Germany), GN ReSound A/S (Denmark), Starkey (U.S.), and Widex A/S (Denmark), among others.

 

Hearing Aids Market: High Prevalence of Hearing Impairment among Adults Fuels Demand

Auditory disorders are a surprisingly underexplored area of modern medicine. 2015 figures from the WHO showed that only about 10% of the global demand for hearing aids is fulfilled by the annual production of hearing aids. The scenario is even worse in developing countries, as only a worrying 3% of the total demand for hearing aids in developing countries is fulfilled, according to the WHO. The rising public awareness about the benefits and convenience of modern hearing aids and their ease of availability has thus been vital to the global hearing aids market’s growth.

Read Full Report: http://www.transparencymarketresearch.com/hearing-aid-market.html

According to Transparency Market Research (TMR), the global market for hearing aids is likely to hold to a steady CAGR of 4.5% between 2016 and 2024. The market, whose value was calculated at US$4.5 bn in 2015, is expected to rise to an overall valuation of US$7.01 bn by the end of 2024.

Growing Prevalence of Auditory Problems Crucial for Hearing Aids Market in Developing Regions

A promising opportunity for the global hearing aids market comes in the form of the rising number of people suffering from auditory problems in developing countries. However, regardless of the future promise exhibited by the market in the developing world, the performance of the hearing aids industry hasn’t been satisfactory in these markets in recent years due primarily to the high prices of modern hearing aids. Despite the growing purchasing power of consumers in developing countries, the latest medical technologies still remain too expensive for many.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4952

Europe to Retain Dominance in the Face of Improving Performance of APAC Hearing Aids Market

Geographically, Europe was the dominant regional market for hearing aids in 2015. The widespread support for medical research in Europe has led to the easy availability of advanced technologies, such as modern hearing aids. While North America followed Europe in the global hearing aids market’s regional hierarchy in 2015, the Asia Pacific market is expected to exhibit a formidable CAGR in the 2016-2024 forecast period and emerge as a key contender due to the rising operations of leading companies in the region and the rising awareness about the availability of modern and sophisticated hearing aids.

 

Hearing Aids Market: Preparing for Commercialization – Timing, Challenges and Solutions

Transparency Market Research has published a new market report titled, “Hearing Aid Market – (Therapeutic – Hearing Aids (Behind the Ear, Receiver in the Ear, In the Ear, and Canal Hearing Aids) and Bone Anchored Hearing Aids; End-user – Pediatric and Adult) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.” According to the report, the hearing aids market is anticipated to expand at a CAGR of 4.5% from 2016 to 2024 to reach US$ 7.01 Bn by 2024.

Hearing aids are used for the treatment of profound hearing loss. Disabling hearing loss refers to hearing loss greater than 40 decibels (dB) in the better hearing ear in adults and a hearing loss greater than 30 dB in the better hearing ear in children. According to WHO estimates, there will be approximately 1.2 billion people over the age of 60 years with hearing disability by 2026. Hearing loss is one of the six leading global disease burden. Majority of people with disabling hearing loss live in low- and middle-income countries. Approximately one-third people over 65 years of age are affected by disabling hearing loss. The prevalence in this age group is highest in South Asia, Asia Pacific, and Sub-Saharan Africa.

Read Full Report: http://www.transparencymarketresearch.com/hearing-aid-market.html

Increasing global geriatric population and rising prevalence of deafness is expected to drive the global hearing aids market in the next few years. Moreover, rapidly increasing usage rate of digital hearing aid technology and patient awareness levels are expected to fuel market growth during the forecast period. Advances in hearing aids technology is expected to boost market growth during the forecast period. Rechargeable hearing aids that have quick charging and long lasting features are expected to offer considerable growth opportunities in the hearing aids market. Phonak Hearing Systems, a member of the Sonova Group, offers rechargeable hearing aids.

According to the U.S. National Center of Health Statistics (NCHS), 12 of 1,000 people in the U.S. suffering from hearing loss belong to the age group of below 18 years. The hearing aids market in the U.S. consists of both the private (approximately 79%) and public sector (approximately 21%), with the public sector dominated by the Veterans Affairs (VA). North America accounted for 29% share of the global hearing aids market in terms of revenue in 2015. According to Audiology World news, 2016, approximately 20% of the population of the U.S. with hearing loss use hearing aids. Increasing prevalence of hearing loss, aging population, and rising insurance coverage in the U.S. are some of the factors driving the hearing aids market in the country.

Europe held the largest share of the global hearing aids market in terms of both revenue and volume in 2015. Europe accounted for 39% share of the global hearing aids market in 2015. Presence of large geriatric population in countries in Western Europe, high purchasing power, and key players domiciled in the region are attributed to the considerable share of the region.

Download exclusive Sample of this Report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4952

The market in Asia Pacific is expected to expand at the highest growth rate during the forecast period. Improving health care infrastructure, high unmet medical needs, and increasing patient disposable income are the factors driving the hearing aids market in Asia Pacific. The market in the region is likely to expand at a CAGR of 5.2% from 2016 to 2024.

Key players in the global hearing aids market include Sonova Holding AG, GN ReSound, Starkey, and Widex A/S.

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