Dublin, June 12, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the 'Global Hearing Aid Market - Drivers, Opportunities, Trends, & Forecasts 2017 - 2023' report to their offering.
Hearing loss is considered as a medical condition, where a person in unable to hear above a threshold value of 25 decibels in at least one of the ears. This hearing loss problems could be administered with the application of hearing aids or hearing implants. A hearing aid device is an instrument typically fitted in or behind a wearer's ear, designed to amplify and modulate sound. A typical hearing aid device includes a microphone, an amplifier, a receiver/speaker, and is powered by battery. Hearing aids can be characterized as monaural and binaural. Previously, hearing aid manufacturers used to introduce new product ranges once in every four years, which is now accelerated to every two years.
The Global Hearing Aid Devices Market is estimated to witness a CAGR of 5.1% during the forecast period 2017-2023. The Hearing Aid Devices market is analyzed based on three segments - types, end users, and regions.
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The market growth can be attributed to the rising initiatives by various governments and NGOs to raise awareness about hearing loss treatments. Moreover, latest technologies, such as IT-enabled hearing aid devices, are revolutionalizing the way hearing loss treatments were performed. However, the battery issues, such as battery life of the advanced and multipurpose hearing aid devices, is one of the major concerns of the hearing aid devices market presently.
The major drivers of the hearing aid devices market include increasing prevalence of hearing loss patients, especially in the emerging economies. Moreover, latest advancements in 3D printing has enabled the procedure of constructing 3D images of defective ear canals to provide the perfect hearing aid device or treatment to the patients. This step is expected to drive the market in the developed countries during the forecast period. The vendors are currently focusing on the technological advancements, new product launches, and mergers and acquisitions lead the market position. These factors are expected to drive the Global Hearing Aid Devices market in the future.
The regions covered in the report are the Americas, Europe, Asia Pacific, and Rest of the World (ROW). The Europe is set to be the leading region for the hearing aid devices market, followed by the Americas. The Asia Pacific is set to be the emerging region. India is considered to be one of the most attractive economies in the emerging regions. Companies, such as Sonova, execute hearing loss treatment awareness programmes in association with leading hospitals and healthcare agencies in developing countries to target more patients.
Scope of the Report
Product Type Analysis: The Global Hearing Aid Devices market can be categorized based on the following position types: Ear and Canal. In the Ear segment, products are further separated into BTE, RITE, and
ITE products. In the Canal segment, product types such a IIC, CIC, and ITC devices are covered. The Ear segment dominates the market and is expected to gain more market share by 2023. The report also talks about the hearing implants segment. In this segment, cochlear implant dominates the market with more than 70% of the market share in 2016. The market is expected to grow at a positive year on year growth rate, as the market is already witnessing increasing number of advanced technology product launches. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the Global Hearing Aid Devices market.
Key Players:
- William Demant Holding A/S
- Sonova Holding AG
- GN Store Nord A/S
- Sivantos Pte. Ltd.
- Widex A/S
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (TAM)
3.3 Related Markets
3.3.1 Ear and Nasal Packing
3.3.2 Auditory Brainstem Implant
3.3.3 Sinus Dilation Devices
4 Market Outlook
5 Market Characteristics
5.1 Evolution
5.2 Roadmap
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Prevalence of Hearing Loss
5.3.1.2 Increase in Online Sales of Hearing Aid Devices
5.3.1.3 Increasing Demand for Binaural Hearing Aids
5.3.1.4 Demand for Invisible and Water Resistance Hearing Aid Devices
5.3.2 Restraints
5.3.2.1 Expensive Pricing of Hearing Aid Products
5.3.2.2 Challenges Related to Hearing Aid Batteries
5.3.2.3 Lack of Awareness Regarding Hearing Loss in Developing Countries
5.3.2.4 Restrictions Related to Reimbursement Policies
5.3.3 Opportunities
5.3.3.1 Introduction of Innovative Hearing Aid Devices
5.3.3.2 3D Printing Technology for the Production of Hearing Aid Devices
5.3.3.3 Internet Connected Hearing Aids
5.3.3.4 Hearing Aids Banks in Australia
5.3.4 DRO - Impact Analysis
6 Trends, Roadmap and Projects
6.1 Market Trends & Impact
6.2 Technology Roadmap
7 Types: Market Size and Analysis
7.1 Overview
7.2 Hearing Aid Market by Hearing Aid Product Segmentation
7.2.1 Hearing Aid Devices Segmentation
7.2.2 Hearing Implants Segmentation
7.3 Hearing Aid Market by End-User segment
8 Regions: Market Size and Analysis
9 Vendor Scenario
10 Vendor Profiles
10.1 Sonova Holding AG
10.2 William Demant Holding A/S
10.3 Sivantos Pte. Ltd.
10.4 GN Store Nord A/S
11 Global Generalist
11.1 Widex A/S
11.2 Starkey Hearing Technologies Inc.
11.3 Amplifon SpA
For more information about this report visit http://www.researchandmarkets.com/research/bs7vrj/global_hearing
Sonova Holding
