Global Hearing Aids Market Competition Forecast and Opportunities to 2027 – Prescription Hearing Aids Expected to Hold Largest Revenue Share in Next Five Years – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Hearing Aids Market, By Type (Prescription or Over-the-Counter), By Style, By Hearing Loss Types, By Product Type, By Technology Type, By Patient Type, By Distribution Channel, By Region, Competition Forecast and Opportunities, 2027” report has been added to from ResearchAndMarkets.com offer.

The value of the global hearing aids market could reach USD 29.58 billion by 2027F, growing at a CAGR of 7.7%, during the forecast period 2023-2027.

The market value in 2021 was USD 18.72 billion, the growth of the global hearing aids market can be attributed to the advancement of medical devices and increasing investment in the development of healthcare devices. The increase in demand for hearing aids may also be due to the increasing prevalence of hearing loss. Hearing loss can affect the geriatric population in large numbers, but due to certain environmental factors and genetic mutations, the disorders have also increased in children and young adults. Hence, growing geriatric population globally, increasing population of children born with hearing impairment and increasing cases of ear infection would further drive the growth of the global hearing aids market over the next five years.

Recent trends in the advancement of hearing aids have increased the demand for aesthetic devices which is supporting the growth of the market. Moreover, a thriving healthcare industry and increasing healthcare spending by governments and people across different regions is expected to drive the market growth over the forecast period.

The global hearing aids market is segmented on the basis of device type, type, style, hearing loss type, product type, technology type, patient type, distribution channel, business and regional distribution. Based on device type, the market is divided into prescription and over-the-counter drugs.

Prescription hearing aids are expected to hold the largest market revenue shares and dominate the market segment over the next five years due to increasing cases of hearing loss due to environmental factors and growing geriatric population being more susceptible to hearing loss.

Years considered for this report:

  • Historical years: 2017- 2020

  • Base year: 2021

  • Estimated year: 2022

  • Forecast period: 2023 – 2027

Goal of the study:

  • To analyze the market size of the global hearing aids market from 2017 to 2020.

  • Estimate and forecast the market size of global hearing aids market from 2021 to 2022 and the growth rate till 2027.

  • Classify and forecast the global hearing aids market based on device type, type, style, hearing loss type, product type, technology type, patient type, distribution channel, business and regional distribution.

  • To identify the dominant region or segment in the global hearing aids market.

  • Identify drivers and challenges in the global hearing aids market.

  • Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the global hearing aids market.

  • To identify and analyze the profile of key players operating in the global Hearing Aids Market.

  • To identify the key sustainable strategies adopted by market players in the global Hearing Aids Market.

Report Scope:

Global hearing aid market, by device type:

  • Prescription based

  • Over the counter

Global Hearing Aids Market, By Type:

  • Hearing aids

  • behind the ears

  • In-ear hearing aids

  • Aids in the channel

  • Hearing aids

  • Hearing implants

Global hearing aid market, by type of hearing loss:

Global hearing aids market, by product type:

Global hearing aids market, by type of technology:

Global hearing aids market, by patient type:

Global Hearing Aids Market, By Distribution Channel:

Global Hearing Aids Market, By Region:

  • North America

  • United States

  • Canada

  • Mexico

  • Europe

  • Germany

  • Italy

  • UK

  • France

  • Spain

  • Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Indonesia

  • Philippines

  • Vietnam

  • South America

  • Brazil

  • Argentina

  • Colombia

  • Middle East and Africa

  • South Africa

  • United Arab Emirates

  • Saudi Arabia

  • Kuwait

Companies cited

  • Sonova Holding AG

  • Applicant A/S

  • GN Store North A/S

  • Cochlear Limited

  • Starkey Hearing Technologies

  • Rion Co., Ltd.

  • WS Audiology A/S

  • Medtronic Plc.

  • Amplifon SpA

  • Eargo Inc.

For more information about this report visit https://www.researchandmarkets.com/r/s97k99

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About Alex S. Crone

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