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Press Release

Steady Rise in Geriatric Population to Drive Demand from Global Hearing Aids Market

Posted on: 30 Sep 16

Market Research Reports Search Engine (MRRSE) has announced the addition of a report on the global hearing aids market to its growing repository of market intelligence. The report delivers a studied analysis of the historical growth trajectory and present condition of the global hearing aids market, and uses the same to predict the growth of the market in the coming years. The comprehensive analysis covered in the report makes it a must-have accessory for players looking to make a mark in the global hearing aids market. 

The report, authored by Transparency Market Research and titled ‘Hearing Aids Market (Product Type - Hearing Aids (Behind the Ear (BTE), Receiver in the Ear (RITE), In the Ear (ITE), Canal Hearing Aids (ITC), (CIC), & (IIC)), Bone Anchored Hearing Aids (BAHA); End-user (Pediatric, Adult)) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024,’ is available for sale on the official website of MRRSE. 

According to the report, the global hearing aids market is set to exhibit a CAGR of 4.5% between 2016 and 2024. The market’s overall valuation was calculated at US$4.7 bn in 2015 and is estimated to rise to US$7.01 bn by the end of 2024. 

Sample Research Report :

The rising geriatric population is the vital driver for the global hearing aids market. Due to aging-related damage to the ear canal, most people start to experience auditory problems in old age. The increasing attention being paid to improving the living standards across the world has all but ensured the sustained growth of the geriatric demographic, providing a significant boost for the hearing aids market. The increasing awareness about the efficacy and unobtrusive nature of modern hearing aids has helped drive the demand for the same from the geriatric demographic, since the perception of hearing aids is often based on past experience of outdated equipment and technology. 

The increasing prevalence of hearing disorders in emerging regions has created a significant opportunity for players operating in the hearing aids market. However, the high prices of many modern hearing aids are a significant constraint on the hearing aids market in the developing world, where the average patient still may not have sufficient disposable income at present. Nevertheless, the high volume of unmet demand for hearing aids in emerging countries is likely to have a lasting impact on the dynamics of the global hearing aids industry, with key players set to attempt significant expansion of their operations in developing countries in the coming years. 

Geographically, Europe was the largest contributor to the global hearing aids market in 2015 and is likely to retain its dominant position in the coming years in spite of the rising demand from Asia Pacific. North America followed the Europe market for hearing aids in 2015, but the Asia Pacific market is expected to exhibit the highest CAGR in the 2016-2024 forecast period due to the steady rise in healthcare expenditure and the increasing availability of advances in healthcare. 

In terms of competition, the report profiles leading hearing aids manufacturers, including Cochlear Ltd., Sonova Holding AG, Siemens Healthcare, Starkey, and GN ReSound Group, in order to explain the competitive dynamics of the global market. 

Browse Full Global Hearing Aids Market Report with TOC:

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Market Research Reports Search Engine (MRRSE) is an industry-leading database of market intelligence reports. MRRSE is driven by a stellar team of research experts and advisors trained to offer objective advice. Our sophisticated search algorithm returns results based on the report title, geographical region, publisher, or other keywords. 

MRRSE partners exclusively with leading global publishers to provide clients single-point access to top-of-the-line market research. MRRSE’s repository is updated every day to keep its clients ahead of the next new trend in market research, be it competitive intelligence, product or service trends or strategic consulting. 

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Last updated on: 30/09/2016

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