Increasing awareness about hearing-aid devices for the impaired hearing loss to drive the Global Hearing-Aid Devices Market towards a steady growth.
According to TechSci Research report, “Global Hearing-Aid Devices Market By Type (Hearing Aid Devices v/s Hearing Implants) By Type of Hearing Loss (Sensorineural v/s Conductive) By Product Type (Wired v/s Wireless) By Technology Type (Digital v/s Analog) By Patient Type (Adult v/s Pediatric) By Distribution Channel (Online v/s Offline) By Region, Competition Forecast & Opportunities, 2026”, the global Hearing-aid devices market is expected to grow at a promising rate during the forecast period. Government is inclined towards early screening and identification of deafness and hearing impairment, raising concerns towards ontological issues among the population worldwide. General healthcare services in association with the governments of developing and developed countries are highlighting the privatization, and emerging healthcare infrastructure, the industry is experiencing rapid development, that can be termed as a major factor that drives the market toward its expected growth in the forecast years. Common population is being educated about the issues and the treatment plans, thus driving them to opt for hearing aid devices and implants.
First quarter of 2020, saw a severe lockdown worldwide, owing to the onset of COVID-19 pandemic. Economies were heavily affected and healthcare industry itself was impacted majorly. As the number of patients requiring urgent attention increased, many hospitals ran out of resources in the mean-time. This negatively affected the medical devices sector. Many major players in the market reported a slowdown in sales, but the market has now recovered from the setback and is promising a decent growth in the upcoming years.
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The global hearing-aid devices market is categorized by type, type of hearing loss, product type, technology type, patient type, distribution channel, and regional distribution. Based on patient type the market offers products for adults as well as pediatric patients. Adult patient segment dominated the market in the historical years and is expected to dominate in the next five years too. With the increasing number of geriatric population and awareness among the adult population about the availability of aids and implants the market is expected to continue to grow. Along with that, pediatric population with sensorineural hearing loss is rapidly increasing and the efficiency of these implants and aids in dealing with this is also influencing the market growth, positively.
Based on regional distribution of the market, Asia Pacific region is expected to dominate the market. It is projected that the highest CAGR will be from APAC region during the forecast period. The growth can be supported by the increasing penetration of hearing implants and the rising geriatric population in the developing countries in the region. According to some reliable resources, over 3.6 million Australians suffer from hearing loss and the figure is projected to reach over 4 million in next 5 years which is poised to surge the growth in the country.
Some of the major competitors in the market are Sonova Holding AG, Demant A/S, GN Store Nord A/S, Cochlear Limited, Starkey Hearing Technologies, Widex A/S, MED-EL, SeboTek Hearing Systems, LLC, Audina Hearing Instruments, Inc., RION CO., LTD., WS Audiology, Medtronic Plc., ReSound (GN Group), Amplifon SpA, Eargo Inc. The companies are focusing on extensive research and development activities to stay competitive in the market. Other competitive strategies include formation of alliances and partnerships.
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“Consumers are inclined towards aesthetically appealing and less noticeable devices. New product launches that provide a look for headphones are much more preferred. Advanced technology coupled with aesthetic appearance of the hearing aids will provide a better opportunity for new players in the market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Hearing-Aid Devices Market By Type (Hearing Aid Devices v/s Hearing Implants) By Type of Hearing Loss (Sensorineural v/s Conductive) By Product Type (Wired v/s Wireless) By Technology Type (Digital v/s Analog) By Patient Type (Adult v/s Pediatric) By Distribution Channel (Online v/s Offline) By Region, Competition Forecast & Opportunities, 2026”, has evaluated the future growth potential of Global Hearing-aid devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Hearing-aid devices market.
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