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The study considers a detailed scenario of the present global hearing aids market and its market dynamics for 2024-2029. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.
KEY HIGHLIGHTS
- The global hearing aids market is expected to reach $8.55 billion by 2029, growing at a CAGR of 4.25%. The market growth can be attributed to the growing incidence/ prevalence of hearing disorders and the rising need for treating such disorders worldwide.
- By Product type, the global hearing aids market by behind-the-ear (BTE) hearing aids segment was valued at $4.64 billion in 2023 and is expected to reach $5.86 billion by 2029, growing at a CAGR of 3.97%. The global rise in the prevalence of hearing loss is a significant factor contributing to the growth of this segment. These are the most commonly used hearing aids compared to other available hearing aids in the market since they are robust, easy-to-use, and appropriate for all types of hearing loss.
- By Hearing Loss type, the sensorineural hearing loss segment was valued at $5.25 billion in 2023 and is expected to reach $6.83 billion by 2029, growing at a CAGR of 4.48%. The segment accounted for the largest share mainly due to the rising incidence of hearing loss, specifically sensorineural hearing loss, in the pediatric and adult population.
- By patient group, the global hearing aids market by the adult segment was valued at $4.92 billion in 2023 and is expected to reach $6.42 billion by 2029, growing at a CAGR of 4.53%. The segment is dominating the market due to the higher incidence and prevalence of hearing loss among the elderly population worldwide.
- Sonova, WS Audiology, Demant A/S, GN Store A/S, and Starkey Corp are some leading players currently dominating the global hearing aids market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the hearing aids market and access commercially launched products.
Vendors List
- Sonova
- WS Audiology
- Demant A/S
- GN Store A/S
- Starkey
- Century Hearing Aids
- Arphi Electronics
- Audina Hearing Instruments
- EarTechnic
- Eargo Hearing Aids
- ExSilent
- Horentek
- IN4 Technology
- InnerScope Hearing Technologies
- Intricon
- Loreca Hearing Aids
- NewSound Hearing Aids
- RION Co., Ltd.
- SeboTek Heraing Aids
- ZOUNDS Hearing
- Cochlear Ltd
- Nurotron Biotech
- MED-EL
- Rexton Hearing Aids
- BHM-Tech
- Earlens
REPORT HIGHLIGHTS
PRODUCT SEGMENTATION & FORECAST
- Product type
- Behind-the-Ear
- In-the-Ear
- Hearing Loss type
- Sensorineural Hearing Loss
- Conductive Hearing Loss
- Mixed Hearing Loss
- Age group
- Adults
- Pediatrics
- Technology type
- Digital Hearing Aids
- Analog Hearing Aids
- Distribution Channel
- Retailers
- Independent Practices
- Buying Groups
- Government Purchases
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Hearing Aids Market
- Key Vendors
- Other Prominent Vendors
APPENDIX
- Research Methodology
- Abbreviations
- About the Analyst
Table of Contents
Methodology
Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.
Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 140 |
| Published | February 2024 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value ( USD | $ 6.66 Billion |
| Forecasted Market Value ( USD | $ 8.55 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 26 |
