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PR Newswire

NEW YORK, Oct. 18, 2018

NEW YORK, Oct. 18, 2018 /PRNewswire/ -- KEY FINDINGS
The global hearing aid market is expected to rise with a CAGR of 5.42% over the forecast period of 2019-2027. The market is prospering on account of factors like global increase in the elderly population, increased use of binaural fittings and technological advancements in hearing aids.

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The global hearing aid market segmentation is done on the basis of patient types, hearing loss types and products.The patients in this market are generally adults and paediatrics.

The hearing loss can be a sensorineural hearing loss or a conductive hearing loss.The product segment of the market is sub-divided into hearing aid devices and hearing implants.

Opportunities like the incorporation of lithium-ion batteries in hearing aids and high prevalence of hearing loss in emerging countries are propelling this market's growth. However, the market is facing challenges in terms of competition from cochlear implants and reimbursement issues.

North America, Europe, Asia-Pacific and rest of the world are the regions on the basis of which the global hearing aid market has been geographically segmented.By the end of the forecast period, the European hearing aid market is expected to dominate the global scene in terms of market share.

The region is progressing because of technological advancements in the market.However, the North American market is likely to exhibit the highest CAGR by the end of 2027.

The Department of Veteran Affairs, the US government program for military veterans, and the private sector is the main end-user of the hearing aid market in this region.

The leading companies in this market are Amplifon Hearing Health Care, Arphi Electronics Pvt. Ltd, Audina Hearing Instruments, Cochlear Ltd, Gn Store Nord, Horentek, Med-El, Microson, Rion Co., Ltd., Sebotek Hearing Systems, Siemens Ag, Sonova Holding Ag, Starkey Hearing Technologies, William Demant Holding A/S and Zounds Hearing Inc.

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Last Updated: 18-Oct-2018