Chicago, June 02, 2022 (GLOBE NEWSWIRE) -- According to the new market research report "Hearing Aids Market by Product Type [Aids (Receiver,Behind the Ear, In the Canal, In the Ear Aids), Implants (Cochlear, Bone-anchored)], Type of Hearing Loss (Sensorineural, Conductive), Patient Type (Adults, Pediatrics), Region - Global Forecast to 2026", the global Hearing Aids Market is projected to reach USD 10.2 billion by 2026 from USD 7.5 billion in 2021, at a CAGR of 6.4%.
Browse in-depth TOC on "Hearing Aids Market"
243 - Tables
51 - Figures
238 – Pages
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The growth of hearing aids market can be attributed to the technological advancements in hearing aids. The launch of advanced products is generating significant interest among end users and is offering potential growth opportunities to market players. Artificial intelligence (AI) is one of the most crucial technologies that is expected to drive the growth of this industry in the near future. Emerging economies such as China, India, and Japan are providing lucrative opportunities for the players operating in the hearing aids market.
The hearing aid devices segment accounted for the largest share of the hearing aids market, by product segment, in 2020
Based on product, the hearing aids market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment accounted for the largest share of the hearing aids market in 2020. Increasing company initiatives to launch novel hearing aids are an important factor driving the growth of this market segment.
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Sensorineural hearing loss segment to register the highest growth rate during the forecast period
The hearing aids market is segmented into sensorineural hearing loss and conductive hearing loss. In 2020, the sensorineural hearing loss segment accounted for the highest growth rate. Growing awareness regarding the potential benefits of early diagnosis and treatment of sensorineural hearing loss condition is contributing to the growth of this segment.
Scope of the Hearing Aids Market Report
| Report Metrics | Details |
| Market size available for years | 2016–2026 |
| Base year considered | 2020 |
| Largest Market | Europe |
| Forecast Period 2022-2026 CAGR | 6.4% |
| Forecast period | 2022–2026 |
| Estimated Year Market Size | USD 7.5 billion in 2021 |
| Forecast Year Market Size | USD 10.2 billion by 2026 |
| Segments covered | Product, type of hearing loss, patient type, and region |
| Geographies covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Companies covered | Sonova Group (Switzerland), Demant A/S (Denmark), GN Store Nord A/S (Denmark), Cochlear Ltd. (Australia), RION Co., Ltd. (Japan), Starkey (US), Nurotron Biotechnology Co., Ltd. (China), MED-EL (Austria), Audina Hearing Instruments, Inc. (US), Elkon Pvt. Ltd. (India), WS Audiology A/S (Denmark), Eargo, Inc. (US), Horentek (Italy), ZOUNDS Hearing Inc. (US), SeboTek Hearing Systems, LLC. (US), Arphi Electronics Private Limited (India), IN4 Technology Corporation (China), BHM-Tech Produktionsgesellschaft mbH (Austria), Nano Hearing Aids (US), LORECa s.r.o. (Turkey), Earlens Corporation (US), Austar Hearing Science and Technology (Xiamen) Co., Ltd. (China), Lively Hearing Corporation (US), audifon GmbH & Co. KG (Germany), and Foshan Vohom Technology Co., Ltd. (China) |
This report categorizes the Hearing Aids Market into the following segments and subsegments:
Hearing Aids Market, By Product
- Hearing Aid Devices
- Receiver-in-the-ear Hearing Aids
- Behind-the-ear Hearing Aids
- Canal Hearing Aids
- In-the-ear Hearing Aids
- Other Hearing Aid Devices
- Hearing Implants
- Cochlear Implants
- Bone-anchored Systems
Hearing Aids Market, By Type of Hearing Loss
- Sensorineural Hearing Loss
- Conductive Hearing Loss
Hearing Aids Market, By Patient Type
- Adults
- Pediatrics
Hearing Aids Market, By Region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Middle East & Africa
The adult patients segment accounted for the largest share of the hearing aids market, by patient type segment, in 2020
Based on patient type, the hearing aids market is segmented into adults and pediatrics. In 2020, the adult patients segment accounted for the largest share of the hearing aids market. The increasing number of research initiatives that are being undertaken in order to better serve the adult patient population suffering from hearing loss disorders is driving this segment's growth.
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Europe accounted for the largest share of the hearing aids market in 2020
The global hearing aids market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, Europe accounted for the largest share of the hearing aids market. The large share of this region can be attributed to the growth in the healthcare expenditure, the increasing incidence of hearing loss, and the rising R&D expenditure.
List of Major players operating in Hearing Aids Market:
- Sonova Group (Switzerland),
- Demant A/S (Denmark),
- GN Store Nord A/S (Denmark),
- Cochlear Ltd. (Australia),
- RION Co., Ltd. (Japan),
- Starkey (US),
- Nurotron Biotechnology Co., Ltd. (China),
- MED-EL (Austria),
- Audina Hearing Instruments, Inc. (US),
- Elkon Pvt. Ltd. (India),
- WS Audiology A/S (Denmark),
- Eargo, Inc. (US),
- Horentek (Italy),
- ZOUNDS Hearing Inc. (US).
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