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Hearing Care Devices Market By Product, By Type of hearing loss, By End User: Global Opportunity Analysis and Industry Forecast, 2020-2030

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    Report

  • 235 Pages
  • March 2022
  • Region: Global
  • Allied Market Research
  • ID: 5640503
The global Hearing Care Devices market was valued at $7,535.58 million in 2021, and is projected to reach $12,529.2 million by 2030, registering a CAGR of 5.08% from 2021 to 2030. Hearing care devices restore hearing function in patients suffering from hearing impairment. Some of these devices (mainly implants) could even restore hearing function in profoundly deaf individuals. Hearing aids are small yet powerful electronic devices designed to discreetly assist hearing. Powered by batteries, hearing aids include three essential parts: the microphone, amplifier, and speaker. A cochlear implant is a small, complex electronic device that can help to provide a sense of sound to a person who is profoundly deaf or severely hard-of-hearing. The implant consists of an external portion that sits behind the ear and a second portion that is surgically placed under the skin.

High incidence of hearing disorders, new technological advancements in hearing systems, growth in geriatric population, and increase in binaural fitting rate are expected to drive the global hearing care devices market.

In addition, improved healthcare infrastructure and rise in overall healthcare expenditure across different countries around the globe are some of the factors that augment the growth of hearing care devices. Moreover, growth in trend for customized implants is also a major factor that drives the hearing care devices market
.

However, high cost of the devices and rise in drop-out rate of the patients are expected to impede the market growth. The growth opportunities in emerging countries of Asia-Pacific and LAMEA are expected to provide numerous opportunities for market growth during the forecast period.

The global hearing care devices market is highly competitive and is lucrative in nature. The key market players have adopted various developmental strategies, such as product launch &approval, strategic acquisitions, and mergers to strengthen their market position.

The hearing care devices market in this report is studied on the basis of product, type of hearing loss, end user, and region. On the basis of product, the market is divided into hearing aids and hearing implants. Hearing aids is further divided into type and technology. On the basis of type of hearing aids, it is further divided into behind-the-ear (BTE) aids, in-the-ear aids, receiver-in-the-ear (RITE), and canal hearing aids. On the basis of technology of hearing aids, it is further divided into analog hearing aids and digital hearing aids. On the basis of hearing implants, the market is classified into cochlear implants, bone-anchored hearing systems, auditory brainstem implants, and middle ear implants. On the basis of type of hearing loss, the market is bifurcated into sensorineural hearing loss and conductive hearing loss. On the basis of end user, the market is segregated into hospitals &clinics, home setting, and ambulatory surgical centers (ASCs). On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

On the basis of product, the hearing aids segment currently dominates the global hearing care devices market and is expected to continue during the forecast period owing to rising burden of hearing loss, technological advancements in hearing aids, and rising awareness.

On the basis of type of hearing loss, the conductive hearing loss segment dominated the global hearing care devices market in 2020 and is anticipated to be dominant in the market owing to technological developments in the medical treatments like extraction of earwax, antibiotics or surgical procedures.

On the basis of end user, the home-use segment dominated the global hearing care devices market in 2020 and is anticipated to be dominant in the market owing to rise in the demand for home hearing test and hearing aids.

Region wise, North America dominated the market in 2020, owing to rise in prevalence of nasal and hearing disorders, high adoption rate of technologically advanced devices, and presence of highly sophisticated healthcare infrastructure, favorable reimbursement framework, and increased patient awareness about the availability of treatment options for hearing disorders. However, Asia-Pacific is expected to witness considerable market growth during the forecast period, owing to growing demand for sophisticated hearing care devices, large number of healthcare reforms, high prevalence of hearing disorders, and increased focus of key players for developing technologically advanced cost-effective devices.

The major players operating in the global hearing care devices market are American Hearing Aids, Amplifon, Cochlear Ltd., GN Store Nord A/S, Intricon Corporation, Med-El, Sonova, Starkey, William Demant Holding A/S, and WS Audiology. These players have adopted product launch, collaboration, and merger & acquisition as their key developmental strategies.

KEY BENEFITS FOR STAKEHOLDERS

  • The report provides in-depth analysis of the global hearing care devices market size along with the current trends and future estimations to elucidate the imminent investment pockets.
  • It offers market analysis from 2021 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
  • A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
  • The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global hearing care devices market growth.

Key Market Segments


By End User

  • Hospitals Clinics
  • Ambulatory Surgical Centers (ASCs)
  • Home-use

By Product

  • Hearing Aids
  • Hearing Implants

By Type of hearing loss

  • Sensorineural Hearing Loss
  • Conductive Hearing Loss

By Region

  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of LAMEA
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Korea
  • Rest of LAMEA

Key Market Players

  • American Hearing Aids
  • amplifon
  • Cochlear Ltd
  • GN Store Nord A/S
  • IntriCon Corporation
  • med-electronics, inc.
  • SONOVA.
  • William Demant Holding A/S
  • starkey hearing technologies
  • WS Audiology

Frequently Asked Questions about the Global Hearing Care Devices Market

What is the estimated value of the Global Hearing Care Devices Market?

The Global Hearing Care Devices Market was estimated to be valued at $7535.58 million in 2021.

What is the growth rate of the Global Hearing Care Devices Market?

The growth rate of the Global Hearing Care Devices Market is 5.8%, with an estimated value of $12529.2 million by 2030.

What is the forecasted size of the Global Hearing Care Devices Market?

The Global Hearing Care Devices Market is estimated to be worth $12529.2 million by 2030.

Who are the key companies in the Global Hearing Care Devices Market?

Key companies in the Global Hearing Care Devices Market include American Hearing Aids, amplifon, Cochlear Ltd, GN Store Nord A/S, IntriCon Corporation, med, electronics, inc., SONOVA., William Demant Holding A/S and starkey hearing technologies.

Table of Contents

CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
CHAPTER 4: HEARING CARE DEVICES MARKET, BY PRODUCT
4.1 Overview
4.1.1 Market size and forecast
4.2 Hearing Aids
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Hearing Implants
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
CHAPTER 5: HEARING CARE DEVICES MARKET, BY TYPE OF HEARING LOSS
5.1 Overview
5.1.1 Market size and forecast
5.2 Sensorineural Hearing Loss
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Conductive Hearing Loss
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
CHAPTER 6: HEARING CARE DEVICES MARKET, BY END USER
6.1 Overview
6.1.1 Market size and forecast
6.2 Hospitals & Clinics
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Ambulatory Surgical Centers (ASCs)
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 Home-use
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
CHAPTER 7: HEARING CARE DEVICES MARKET, BY REGION
7.1 Overview
7.1.1 Market size and forecast
7.2 North America
7.2.1 Key trends and opportunities
7.2.2 North America Market size and forecast, by Product
7.2.3 North America Market size and forecast, by Type of hearing loss
7.2.4 North America Market size and forecast, by End User
7.2.5 North America Market size and forecast, by country
7.2.5.1 U.S.
7.2.5.1.1 Market size and forecast, by Product
7.2.5.1.2 Market size and forecast, by Type of hearing loss
7.2.5.1.3 Market size and forecast, by End User
7.2.5.2 Canada
7.2.5.2.1 Market size and forecast, by Product
7.2.5.2.2 Market size and forecast, by Type of hearing loss
7.2.5.2.3 Market size and forecast, by End User
7.2.5.3 Mexico
7.2.5.3.1 Market size and forecast, by Product
7.2.5.3.2 Market size and forecast, by Type of hearing loss
7.2.5.3.3 Market size and forecast, by End User
7.3 Europe
7.3.1 Key trends and opportunities
7.3.2 Europe Market size and forecast, by Product
7.3.3 Europe Market size and forecast, by Type of hearing loss
7.3.4 Europe Market size and forecast, by End User
7.3.5 Europe Market size and forecast, by country
7.3.5.1 Germany
7.3.5.1.1 Market size and forecast, by Product
7.3.5.1.2 Market size and forecast, by Type of hearing loss
7.3.5.1.3 Market size and forecast, by End User
7.3.5.2 France
7.3.5.2.1 Market size and forecast, by Product
7.3.5.2.2 Market size and forecast, by Type of hearing loss
7.3.5.2.3 Market size and forecast, by End User
7.3.5.3 U.K.
7.3.5.3.1 Market size and forecast, by Product
7.3.5.3.2 Market size and forecast, by Type of hearing loss
7.3.5.3.3 Market size and forecast, by End User
7.3.5.4 Italy
7.3.5.4.1 Market size and forecast, by Product
7.3.5.4.2 Market size and forecast, by Type of hearing loss
7.3.5.4.3 Market size and forecast, by End User
7.3.5.5 Spain
7.3.5.5.1 Market size and forecast, by Product
7.3.5.5.2 Market size and forecast, by Type of hearing loss
7.3.5.5.3 Market size and forecast, by End User
7.3.5.6 Rest of Europe
7.3.5.6.1 Market size and forecast, by Product
7.3.5.6.2 Market size and forecast, by Type of hearing loss
7.3.5.6.3 Market size and forecast, by End User
7.4 Asia-Pacific
7.4.1 Key trends and opportunities
7.4.2 Asia-Pacific Market size and forecast, by Product
7.4.3 Asia-Pacific Market size and forecast, by Type of hearing loss
7.4.4 Asia-Pacific Market size and forecast, by End User
7.4.5 Asia-Pacific Market size and forecast, by country
7.4.5.1 China
7.4.5.1.1 Market size and forecast, by Product
7.4.5.1.2 Market size and forecast, by Type of hearing loss
7.4.5.1.3 Market size and forecast, by End User
7.4.5.2 Japan
7.4.5.2.1 Market size and forecast, by Product
7.4.5.2.2 Market size and forecast, by Type of hearing loss
7.4.5.2.3 Market size and forecast, by End User
7.4.5.3 India
7.4.5.3.1 Market size and forecast, by Product
7.4.5.3.2 Market size and forecast, by Type of hearing loss
7.4.5.3.3 Market size and forecast, by End User
7.4.5.4 Australia
7.4.5.4.1 Market size and forecast, by Product
7.4.5.4.2 Market size and forecast, by Type of hearing loss
7.4.5.4.3 Market size and forecast, by End User
7.4.5.5 South Korea
7.4.5.5.1 Market size and forecast, by Product
7.4.5.5.2 Market size and forecast, by Type of hearing loss
7.4.5.5.3 Market size and forecast, by End User
7.4.5.6 Rest of LAMEA
7.4.5.6.1 Market size and forecast, by Product
7.4.5.6.2 Market size and forecast, by Type of hearing loss
7.4.5.6.3 Market size and forecast, by End User
7.5 LAMEA
7.5.1 Key trends and opportunities
7.5.2 LAMEA Market size and forecast, by Product
7.5.3 LAMEA Market size and forecast, by Type of hearing loss
7.5.4 LAMEA Market size and forecast, by End User
7.5.5 LAMEA Market size and forecast, by country
7.5.5.1 Brazil
7.5.5.1.1 Market size and forecast, by Product
7.5.5.1.2 Market size and forecast, by Type of hearing loss
7.5.5.1.3 Market size and forecast, by End User
7.5.5.2 Saudi Arabia
7.5.5.2.1 Market size and forecast, by Product
7.5.5.2.2 Market size and forecast, by Type of hearing loss
7.5.5.2.3 Market size and forecast, by End User
7.5.5.3 South Korea
7.5.5.3.1 Market size and forecast, by Product
7.5.5.3.2 Market size and forecast, by Type of hearing loss
7.5.5.3.3 Market size and forecast, by End User
7.5.5.4 Rest of LAMEA
7.5.5.4.1 Market size and forecast, by Product
7.5.5.4.2 Market size and forecast, by Type of hearing loss
7.5.5.4.3 Market size and forecast, by End User
CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments
CHAPTER 9: COMPANY PROFILES
9.1
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
LIST OF TABLES
Table 1. Global Hearing Care Devices Market, by Product, 2021-2030, ($Million)
Table 2. Hearing Care Devices Market Revenue, for Hearing Aids, by Region, 2021-2030, ($Million)
Table 3. Hearing Care Devices Market Hearing Aids by Country, 2021-2030, ($Million)
Table 4. Hearing Care Devices Market Revenue, for Hearing Implants, by Region, 2021-2030, ($Million)
Table 5. Hearing Care Devices Market Hearing Implants by Country, 2021-2030, ($Million)
Table 6. Global Hearing Care Devices Market, by Type of Hearing Loss, 2021-2030, ($Million)
Table 7. Hearing Care Devices Market Revenue, for Sensorineural Hearing Loss, by Region, 2021-2030, ($Million)
Table 8. Hearing Care Devices Market Sensorineural Hearing Loss by Country, 2021-2030, ($Million)
Table 9. Hearing Care Devices Market Revenue, for Conductive Hearing Loss, by Region, 2021-2030, ($Million)
Table 10. Hearing Care Devices Market Conductive Hearing Loss by Country, 2021-2030, ($Million)
Table 11. Global Hearing Care Devices Market, by End-user, 2021-2030, ($Million)
Table 12. Hearing Care Devices Market Revenue, for Hospitals & Clinics, by Region, 2021-2030, ($Million)
Table 13. Hearing Care Devices Market Hospitals & Clinics by Country, 2021-2030, ($Million)
Table 14. Hearing Care Devices Market Revenue, for Ambulatory Surgical Centers (Ascs), by Region, 2021-2030, ($Million)
Table 15. Hearing Care Devices Market Ambulatory Surgical Centers (Ascs) by Country, 2021-2030, ($Million)
Table 16. Hearing Care Devices Market Revenue, for Home-Use, by Region, 2021-2030, ($Million)
Table 17. Hearing Care Devices Market Home-Use by Country, 2021-2030, ($Million)
Table 18. Hearing Care Devices Market, by Region, 2021-2030, ($Million)
Table 19. North America Hearing Care Devices Market, by Product, 2021-2030, ($Million)
Table 20. North America Hearing Care Devices Market, by Type of Hearing Loss, 2021-2030, ($Million)
Table 21. North America Hearing Care Devices Market, by End-user, 2021-2030, ($Million)
Table 22. North America Hearing Care Devices Market, by Country, 2021-2030, ($Million)
Table 23. U.S. Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 24. U.S. Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 25. U.S. Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 26. Canada Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 27. Canada Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 28. Canada Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 29. Mexico Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 30. Mexico Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 31. Mexico Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 32. Europe Hearing Care Devices Market, by Product, 2021-2030, ($Million)
Table 33. Europe Hearing Care Devices Market, by Type of Hearing Loss, 2021-2030, ($Million)
Table 34. Europe Hearing Care Devices Market, by End-user, 2021-2030, ($Million)
Table 35. Europe Hearing Care Devices Market, by Country, 2021-2030, ($Million)
Table 36. Germany Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 37. Germany Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 38. Germany Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 39. France Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 40. France Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 41. France Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 42. U.K. Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 43. U.K. Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 44. U.K. Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 45. Italy Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 46. Italy Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 47. Italy Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 48. Spain Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 49. Spain Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 50. Spain Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 51. Rest of Europe Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 52. Rest of Europe Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 53. Rest of Europe Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 54. Asia-Pacific Hearing Care Devices Market, by Product, 2021-2030, ($Million)
Table 55. Asia-Pacific Hearing Care Devices Market, by Type of Hearing Loss, 2021-2030, ($Million)
Table 56. Asia-Pacific Hearing Care Devices Market, by End-user, 2021-2030, ($Million)
Table 57. Asia-Pacific Hearing Care Devices Market, by Country, 2021-2030, ($Million)
Table 58. China Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 59. China Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 60. China Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 61. Japan Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 62. Japan Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 63. Japan Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 64. India Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 65. India Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 66. India Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 67. Australia Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 68. Australia Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 69. Australia Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 70. South Korea Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 71. South Korea Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 72. South Korea Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 73. Rest of LAMEA Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 74. Rest of LAMEA Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 75. Rest of LAMEA Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 76. LAMEA Hearing Care Devices Market, by Product, 2021-2030, ($Million)
Table 77. LAMEA Hearing Care Devices Market, by Type of Hearing Loss, 2021-2030, ($Million)
Table 78. LAMEA Hearing Care Devices Market, by End-user, 2021-2030, ($Million)
Table 79. LAMEA Hearing Care Devices Market, by Country, 2021-2030, ($Million)
Table 80. Brazil Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 81. Brazil Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 82. Brazil Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 83. Saudi Arabia Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 84. Saudi Arabia Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 85. Saudi Arabia Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 86. South Korea Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 87. South Korea Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 88. South Korea Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 89. Rest of LAMEA Hearing Care Devices Market by Product 2021-2030, ($Million)
Table 90. Rest of LAMEA Hearing Care Devices Market by Type of Hearing Loss 2021-2030, ($Million)
Table 91. Rest of LAMEA Hearing Care Devices Market by End-user 2021-2030, ($Million)
Table 92.: Company Snapshot
Table 93.: Operating Segments
Table 94.: Product Portfolio
Table 95.: Net Sales
Table 96.: Key Stratergies
LIST OF FIGURES
Figure 1. Hearing Care Devices Market Segmentation
Figure 2. Hearing Care Devices Market, 2021-2030
Figure 3. Hearing Care Devices Market, 2021-2030
Figure 4. Top Investment Pockets, by Region
Figure 5. Porter Five-1
Figure 6. Porter Five-2
Figure 7. Porter Five-3
Figure 8. Porter Five-4
Figure 9. Porter Five-5
Figure 10. Top Player Positioning
Figure 11. Hearing Care Devices Market:Drivers, Restraints and Opportunities
Figure 11. Hearing Care Devices Market, by Product, 2021 (%)
Figure 12. Comparative Share Analysis of Hearing Aids Hearing Care Devices Market, 2021-2030 (%)
Figure 13. Comparative Share Analysis of Hearing Implants Hearing Care Devices Market, 2021-2030 (%)
Figure 14. Hearing Care Devices Market, by Type of Hearing Loss, 2021 (%)
Figure 15. Comparative Share Analysis of Sensorineural Hearing Loss Hearing Care Devices Market, 2021-2030 (%)
Figure 16. Comparative Share Analysis of Conductive Hearing Loss Hearing Care Devices Market, 2021-2030 (%)
Figure 17. Hearing Care Devices Market, by End-user, 2021 (%)
Figure 18. Comparative Share Analysis of Hospitals & Clinics Hearing Care Devices Market, 2021-2030 (%)
Figure 19. Comparative Share Analysis of Ambulatory Surgical Centers (Ascs) Hearing Care Devices Market, 2021-2030 (%)
Figure 20. Comparative Share Analysis of Home-Use Hearing Care Devices Market, 2021-2030 (%)
Figure 21. Hearing Care Devices Market by Region, 2021
Figure 22. U.S. Hearing Care Devices Market, 2021-2030 ($Million)
Figure 23. Canada Hearing Care Devices Market, 2021-2030 ($Million)
Figure 24. Mexico Hearing Care Devices Market, 2021-2030 ($Million)
Figure 25. Germany Hearing Care Devices Market, 2021-2030 ($Million)
Figure 26. France Hearing Care Devices Market, 2021-2030 ($Million)
Figure 27. U.K. Hearing Care Devices Market, 2021-2030 ($Million)
Figure 28. Italy Hearing Care Devices Market, 2021-2030 ($Million)
Figure 29. Spain Hearing Care Devices Market, 2021-2030 ($Million)
Figure 30. Rest of Europe Hearing Care Devices Market, 2021-2030 ($Million)
Figure 31. China Hearing Care Devices Market, 2021-2030 ($Million)
Figure 32. Japan Hearing Care Devices Market, 2021-2030 ($Million)
Figure 33. India Hearing Care Devices Market, 2021-2030 ($Million)
Figure 34. Australia Hearing Care Devices Market, 2021-2030 ($Million)
Figure 35. South Korea Hearing Care Devices Market, 2021-2030 ($Million)
Figure 36. Rest of LAMEA Hearing Care Devices Market, 2021-2030 ($Million)
Figure 37. Brazil Hearing Care Devices Market, 2021-2030 ($Million)
Figure 38. Saudi Arabia Hearing Care Devices Market, 2021-2030 ($Million)
Figure 39. South Korea Hearing Care Devices Market, 2021-2030 ($Million)
Figure 40. Rest of LAMEA Hearing Care Devices Market, 2021-2030 ($Million)
Figure 41. Top Winning Strategies, by Year
Figure 42. Top Winning Strategies, by Development
Figure 43. Top Winning Strategies, by Company
Figure 44. Product Mapping of Top 10 Players
Figure 45. Competitive Dashboard
Figure 46. Competitive Heatmap of Top 10 Key Players
Figure 47. Net Sales, ($Million)

Executive Summary

The Hearing Care Devices Market size was valued at $7.5 billion in 2020, and is estimated to reach $12.5 billion by 2030, growing at a CAGR of 5.08% from 2021 to 2030. Hearing care devices restore hearing function in patients suffering from hearing impairment. The market has witnessed significant growth in the recent past due to development of new types of hearing aids and implants.

Growth in geriatric population susceptible to hearing disorders, rise in prevalence of hearing loss, and increase in binaural fitting rate are expected to drive the market growth. Moreover, rise in adoption of technically advanced hearing care devices, such as cochlear implants supplement the market growth. However, high cost of the devices and surge in drop-out rates of the patients are anticipated to hamper the market growth.

The Hearing Care Devices Market growth is projected to dominate the market owing to its rise in demand and prevalence of hearing disorders. High cost of treatment is the major concern for majority of people with hearing loss living in low- or middle-income countries, which leaves them with little or no access to hearing care. Therefore, hearing care device manufacturers have potential growth opportunities in the developing economies of the world. This has led to increased demand for hearing care devices. Therefore, increase in incidence of disorders is expected to drive the growth of hearing care devices market.

Hearing loss has become the most common disorder in patients, especially in industrialized countries. According to the WHO, the number of people living with disabling hearing loss is anticipated to reach over 900 million by 2050. Besides, chronic inflammation, vascular disorder, noise exposure, genetic susceptibility, and physiological aging of the ear may also cause hearing loss among people. This may lead to an increased number of hearing impairment patient populations globally, thereby increasing sales of these devices.

In the past decade, there has been a tremendous advancement in the field of hearing aids. The incorporation of smart technologies and the emergence of digital platforms in the mini device have helped overcome multiple patients' difficulties and have improved their hearing experience. Digital hearing aids are being introduced to the market. Features such as smartphone compatibility, Bluetooth connectivity, high sound processing, AI, rechargeable batteries, and the latest tinnitus masking have leveraged the hearing device's potential to no bounds.

The hearing healthcare devices market in this report is studied on the basis of product, type of hearing loss, end user, and region. On the basis of product, the market is divided into hearing aids and hearing implants. Hearing aids is further divided into type and technology. On the basis of type of hearing aids, it is further divided into behind-the-ear (BTE) aids, in-the-ear aids, receiver-in-the-ear (RITE), and canal hearing aids. On the basis of technology of hearing aids, it is further divided into analog hearing aids, and digital hearing aids. On the basis of hearing implants, the market is classified into cochlear implants, bone-anchored hearing systems, auditory brainstem implants, and middle ear implants.

Among these, the hearing aids segment currently dominates the global hearing care devices industry and is expected to continue during the forecast period owing to the rising burden of hearing loss, technological advancements in hearing aids, and rising awareness.

On the basis of type of hearing loss, sensorineural hearing loss, and conductive hearing loss. The conductive hearing loss segment dominated the global Hearing Care Devices market in 2020 and is anticipated to be dominant in the market owing to technological developments in the medical treatments like extraction of earwax, antibiotics or surgical procedures.

On the basis of end user, the market is segregated into hospitals and clinics, home setting, and ambulatory surgical centers (ASCs). The home-use segment currently dominates the global Hearing Care Devices market and is expected to continue during the forecast period owing to the rise in the demand for home hearing test and hearing aids.

North America accounted for a majority of the global Hearing Care Devices market share in 2020 and is anticipated to rise in prevalence of nasal and hearing disorders, high adoption rate of technologically advanced devices, and presence of highly sophisticated healthcare infrastructure, favorable reimbursement framework, and increased patient awareness about the availability of treatment options for hearing disorders. However, Asia-Pacific region is expected to witness considerable market growth during the forecast period, due to growing demand for sophisticated hearing care devices, large number of healthcare reforms, high prevalence of hearing disorders, and increased focus of key players for developing technologically advanced cost-effective devices. Moreover, India and Japan are expected to grow at high CAGR in the Asia-Pacific Hearing Care Devices market.

According to Onkar Sumant, Manager, Healthcare, 'growth in incidence of hearing disorders, technological advancements, rise in geriatric population, and increase in binaural fitting rate drive the growth of the hearing care devices market'.

KEY FINDINGS OF STUDY

  • By product, the hearing aids segment currently dominates the global Hearing Care Devices market and is expected to continue during the forecast period owing to rising burden of hearing loss, technological advancements in hearing aids, and rising awareness.
  • By type of hearing loss, the conductive hearing loss segment dominated the global Hearing Care Devices market in 2020 and is anticipated to be dominant in the market owing to technological developments in the medical treatments like extraction of earwax, antibiotics or surgical procedures.
  • By end user, the home-use segment currently dominates the global Hearing Care Devices market and is expected to continue during the forecast period owing to demand for home hearing test and hearing aids.
On the basis of region, in 2020, North America dominated the market in 2020, owing to rise in prevalence of nasal and hearing disorders, high adoption rate of technologically advanced devices, and presence of highly sophisticated healthcare infrastructure, favorable reimbursement framework, and increased patient awareness about the availability of treatment options for hearing disorders. However, Asia-Pacific region is expected to witness considerable market growth during the forecast period, due to growing demand for sophisticated hearing care devices, large number of healthcare reforms, high prevalence of hearing disorders, and increased focus of key players for developing technologically advanced cost-effective devices.

Companies Mentioned

  • American Hearing Aids
  • amplifon
  • Cochlear Ltd
  • GN Store Nord A/S
  • IntriCon Corporation
  • med-electronics, inc.
  • SONOVA.
  • William Demant Holding A/S
  • starkey hearing technologies
  • WS Audiology

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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