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Audiological Devices - Global Market Trajectory & Analytics

  • ID: 338839
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • AUDITDATA A/S
  • Cochlear Limited
  • Natus Medical Inc.
  • Oticon Medical AB
  • Sivantos Pte. Ltd.
  • Sonova Holding AG
Global Audiological Devices Market to Reach $13.3 Billion by 2027

Amid the COVID-19 crisis, the global market for Audiological Devices estimated at US$10 Billion in the year 2020, is projected to reach a revised size of US$13.3 Billion by 2027, growing at a CAGR of 4.2% over the analysis period 2020-2027. Hearing Aids, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach US$8.8 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cochlear Implants segment is readjusted to a revised 4.9% CAGR for the next 7-year period.









The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 7.5% CAGR

The Audiological Devices market in the U.S. is estimated at US$2.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.9 Billion by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.3% and 3.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.

BAHA/BAHS Segment to Record 3.8% CAGR

In the global BAHA/BAHS segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$298.9 Million in the year 2020 will reach a projected size of US$373.9 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.9 Billion by the year 2027, while Latin America will expand at a 4.7% CAGR through the analysis period.

Select Competitors (Total 57 Featured):
  • Advanced Bionics Corporation
  • AUDITDATA A/S
  • Bernafon AG
  • Cochlear Limited
  • GN ReSound A/S
  • Natus Medical Inc.
  • Oticon A/S
  • Oticon Medical AB
  • Phonak AG
  • Sivantos Pte. Ltd.
  • Sonic Innovations Inc.
  • Sonova Holding AG
  • Starkey Hearing Technologies
  • Widex A/S
  • William Demant Holding A/S
Frequently Asked Questions about the Global Market for Audiological Devices

What is the estimated value of the Global Market for Audiological Devices?

The Global Market for Audiological Devices was estimated to be valued at $10.0 Billion in 2020.

What is the growth rate of the Global Market for Audiological Devices?

The growth rate of the Global Market for Audiological Devices is 4.2%, with an estimated value of $13.3 Billion by 2027.

What is the forecasted size of the Global Market for Audiological Devices?

The Global Market for Audiological Devices is estimated to be worth $13.3 Billion by 2027.

Who are the key companies in the Global Market for Audiological Devices?

Key companies in the Global Market for Audiological Devices include Advanced Bionics Corporation, AUDITDATA A/S, Bernafon AG, Cochlear Limited, GN ReSound A/S, Natus Medical Inc., Oticon A/S, Oticon Medical AB and Sivantos Pte. Ltd..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • AUDITDATA A/S
  • Cochlear Limited
  • Natus Medical Inc.
  • Oticon Medical AB
  • Sivantos Pte. Ltd.
  • Sonova Holding AG

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Audiology Devices - A Review
  • Recent Market Activity
  • Growth Drivers and Restraints
  • Growth Drivers
  • Growth Restraints
  • Outlook
  • Hearing Aids Market Review
  • Cochlear Implants - The Fastest Growing Product Segment
  • Developed Markets - Traditional Revenue Contributors
  • Emerging Markets - Underpenetrated with Immense Growth Potential
  • Overcoming Social Stigma - Critical to Boost Penetration
  • Hearing Loss - Global Landscape
  • A Snapshot of Global Hearing Loss Statistics
  • Rising Prevalence of Age-Related Hearing Loss
  • Increasing Hearing Impairment among Younger Population

2. FOCUS ON SELECT PLAYERS
  • AUDITDATA A/S (Denmark)
  • Cochlear Limited (Australia)
  • GN ReSound A/S (Denmark)
  • Med-EL Medical Electronics (Austria)
  • Natus Medical Incorporated (USA)
  • Sivantos Pte. Ltd (Singapore)
  • Sonova Holding AG (Switzerland)
  • Advanced Bionics Corporation (USA)
  • Phonak AG (Switzerland)
  • Starkey Hearing Technologies (USA)
  • Widex A/S (Denmark)
  • William Demant Holding A/S (Denmark)
  • Bernafon AG (Switzerland)
  • Oticon A/S (Denmark)
  • Oticon Medical AB (Sweden)
  • Sonic Innovations, Inc. (USA)

3. MARKET TRENDS & DRIVERS
  • Innovations Drive Penetration of Hearing Aids
  • Next-Generation Hearing Aids to Extend Functionality beyond Hearing
  • Wearables/Hearables - An Emerging Alternative
  • PSAPs Draw Attention
  • Smart Glasses - Heralding a New Revolution
  • RIC/RITE Hearing Aids Gain Share
  • Hearing Aid Suppliers Eye Rechargeable Batteries
  • Market Ramps Up Miniaturization
  • Digital Technology Takes Precedence
  • Binaural Fittings Market to Grow
  • Consumers Demand More Value-Added Features
  • Customization - The Driving Force behind Product Specialization
  • Growing Need to Curb Healthcare Costs to Spur Demand for Audiology Devices
  • E-Commerce Boom to Buoy Growth in Hearing Aids Market
  • Hearing Aids and the World of Connectivity
  • Exciting Possibilities Afforded by Hearing Aid Compatible Smartphones
  • Mobile Hearing Apps Ecosystem Continues to Expand
  • Disposable Hearing Aids

4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
  • UNITED STATES
  • CANADA
  • JAPAN
  • CHINA
  • EUROPE
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • AUSTRALIA
  • INDIA
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA

IV. COMPETITION
  • Total Companies Profiled: 57
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Advanced Bionics Corporation
  • AUDITDATA A/S
  • Bernafon AG
  • Cochlear Limited
  • GN ReSound A/S
  • Natus Medical Inc.
  • Oticon A/S
  • Oticon Medical AB
  • Phonak AG
  • Sivantos Pte. Ltd.
  • Sonic Innovations Inc.
  • Sonova Holding AG
  • Starkey Hearing Technologies
  • Widex A/S
  • William Demant Holding A/S
Note: Product cover images may vary from those shown