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Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global hearing aid market size reached a value of US$ 7.4 Billion in 2018. A hearing aid is a small battery-powered electronic device that is used to improve hearing and is worn in or behind the ear. It is used to amplify the sounds to listen, communicate and participate in the daily activities by individuals with low hearing abilities. A hearing aid consists of an amplifier, microphone and a speaker that magnifies sound vibrations entering the ear, perceive larger vibrations and convert them into neural signals that are passed into the brain. The devices are available in a wide range of designs and are customized according to the requirements of the user. For instance, the device may have analog or digital technology for amplification of sound or have earpieces or earmolds to direct the flow of soundwaves and enhance the output quality.

Global Hearing Aid Market Report

The rising geriatric population across the globe is one of the key factors driving the growth of the market. Old age is often characterized by a gradual hearing loss, which increases the product demand from this section of the population. Furthermore, there has been a significant increase in the incidence of hearing disabilities among the masses. A significant number of cases, especially that of infants, remain untreated, which then results in various psychological and speaking disabilities. Additionally, the introduction of aesthetically appealing designs, coupled with the launch of innovative product variations such as waterproof hearing aids, is also contributing to the market growth. The implementation of digital technology coupled with the introduction of products that integrate cochlear implant and hearing aid technology to overcome the high-frequency hearing loss is expected to further create a positive outlook for the market. Other factors such as rising noise pollution levels, growing cases of birth complications and ear infections, increasing disposable income and enhanced focus on research and development (R&D) by manufacturers are also expected to drive the market growth. Looking forward, IMARC Group expects the market to reach a value of US$ 10.5 Billion by 2024, registering a CAGR of around 6% during 2019-2024. 

Report Coverage:

Historical, Current and Future Market Trends

Market Breakup by Product Type:

  • Hearing Devices
    • Behind-the-Ear (BTE)
    • Receiver-in-the Ear (RITE)
    • In-the-Ear (ITE)
    • Canal Hearing Aids (CHA)
    • Others
  • Hearing Implants
    • Cochlear Implants
    • BAHA Implants
       

The market has been bifurcated on the basis of the type, which includes hearing devices and hearing implants, wherein hearing devices are the most popular product type, which has been further categorized as behind-the-ear (BTE), receiver-in-the ear (RITE), in-the-ear (ITE), canal hearing aids (CHA), and others.

Market Breakup by Hearing Loss:

  • Sensorineural Hearing Loss
  • Conductive Hearing Loss

 

Based on the hearing loss, the market has been segmented into sensorineural and conductive hearing loss.

Market Breakup by Patient Type:

Hearing Aids Market Report

  • Adults
  • Pediatrics


On the basis of the patient type, the market has been segregated into adults and pediatrics. Currently, hearing aids are most commonly bought for adult patients.

Market Breakup by Technology Type:

  • Analog
  • Digital
     

The report has analyzed the market according to the technology type, which mainly consists of analog and digital.

Market Breakup by End-User:

  • Hospitals
  • ENT Clinics and Audiology Centres
  • Individual
  • Others


Based on the end user, the market has been categorized as hospitals, ENT clinics and audiology centers, individual, and others.

Market Breakup by Region:

  • Europe
  • North America
  • Asia Pacific
  • Middle East and Africa
  • Latin America


On the geographical front, the market has been divided into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe represents the largest market for hearing aids, holding the majority of the total market share.

Competitive Landscape:

The report has also analyzed the competitive landscape of the market with some of the key players being Sonova Holding AG, Starkey, MED-EL, William Demant Holding A/S, Widex A/S, Sivantos Group, GN Store Nord A/S, Cochlear Ltd, SeboTek Hearing Systems LLC, ReSound Group, AGX Hearing, Audina Hearing Instruments, Lisound, Banglijian, Glaxosmithkline, Benson Hearing, etc.

Key Questions Answered in This Report:

  • How has the global hearing aid market performed so far and how will it perform in the coming years?
  • What are the key regional markets in the global hearing aid industry?
  • What is the breakup of the market based on the product type?
  • What is the breakup of the market based on the hearing loss?
  • What is the breakup of the market based on the patient type?
  • What is the breakup of the market based on the technology type?
  • What is the breakup of the market based on the end-user?
  • What are the various stages in the value chain of the global hearing aid industry?
  • What are the key driving factors and challenges in the global hearing aid industry?
  • What is the structure of the global hearing aid industry and who are the key players?
  • What is the degree of competition in the global hearing aid industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Hearing Aid Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Product Type
    5.4    Market Breakup by Hearing Loss
    5.5    Market Breakup by Patient Type
    5.6    Market Breakup by Technology Type
    5.7    Market Breakup by End-User
    5.8    Market Breakup by Region
    5.9    Market Forecast
6    Market Breakup by Product Type
    6.1    Hearing Devices 
        6.1.1    Market Trends 
        6.1.2    Major Types
                 6.1.2.1   Behind-the-Ear (BTE)
                 6.1.2.2   Receiver-in-the Ear (RITE)
                 6.1.2.3   In-the-Ear (ITE)
                 6.1.2.4   Canal Hearing Aids (CHA)
                 6.1.2.5   Others
        6.1.3    Market Forecast 
    6.2    Hearing Implants 
        6.2.1    Market Trends 
        6.2.2    Major Types
                 6.2.2.1   Cochlear Implants
                 6.2.2.2   BAHA Implants
        6.2.3    Market Forecast 
7    Market Breakup by Hearing Loss
    7.1    Sensorineural Hearing Loss
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Conductive Hearing Loss
        7.2.1    Market Trends
        7.2.2    Market Forecast
8    Market Breakup by Patient Type
    8.1    Adults
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Pediatrics
        8.2.1    Market Trends
        8.2.2    Market Forecast
9    Market Breakup by Technology Type
    9.1    Analog
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Digital
        9.2.1    Market Trends
        9.2.2    Market Forecast
10    Market Breakup by End-User
    10.1    Hospitals
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    ENT Clinics and Audiology Centres
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Individual
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Others
        10.4.1    Market Trends
        10.4.2    Market Forecast
11    Market Breakup by Region
    11.1    Europe
        11.1.1    Market Trends
        11.1.2    Market Forecast
    11.2    North America
        11.2.1    Market Trends
        11.2.2    Market Forecast
    11.3    Asia Pacific
        11.3.1    Market Trends
        11.3.2    Market Forecast
    11.4    Middle East and Africa
        11.4.1    Market Trends
        11.4.2    Market Forecast
    11.5    Latin America
        11.5.1    Market Trends
        11.5.2    Market Forecast
12    SWOT Analysis
    12.1    Overview
    12.2    Strengths
    12.3    Weaknesses
    12.4    Opportunities
    12.5    Threats
13    Value Chain Analysis
14    Porter’s Five Forces Analysis

    14.1    Overview
    14.2    Bargaining Power of Buyers
    14.3    Bargaining Power of Suppliers
    14.4    Degree of Competition
    14.5    Threat of New Entrants
    14.6    Threat of Substitutes
15    Price Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Key Players
    16.3    Profiles of Key Players
        16.3.1    Sonova Holding AG
        16.3.2    Starkey
        16.3.3    MED-EL
        16.3.4    William Demant Holding A/S
        16.3.5    Widex A/S
        16.3.6    Sivantos Group
        16.3.7    GN Store Nord A/S
        16.3.8    Cochlear Ltd 
        16.3.9    SeboTek Hearing Systems LLC
        16.3.10    ReSound Group
        16.3.11    AGX Hearing
        16.3.12    Audina Hearing Instruments
        16.3.13    Lisound
        16.3.14    Banglijian
        16.3.15    Glaxosmithkline
        16.3.16    Benson Hearing


List of Figures

Figure 1: Global: Hearing Aid Market: Major Drivers and Challenges
Figure 2: Global: Hearing Aid Market: Sales Value (in Billion US$), 2013-2018
Figure 3: Global: Hearing Aid Market: Breakup by Product Type (in %), 2018
Figure 4: Global: Hearing Aid Market: Breakup by Hearing Loss (in %), 2018
Figure 5: Global: Hearing Aid Market: Breakup by Patient Type (in %), 2018
Figure 6: Global: Hearing Aid Market: Breakup by Technology Type (in %), 2018
Figure 7: Global: Hearing Aid Market: Breakup by End-User (in %), 2018
Figure 8: Global: Hearing Aid Market: Breakup by Region (in %), 2018
Figure 9: Global: Hearing Aid Market Forecast: Sales Value (in Billion US$), 2019-2024
Figure 10: Global: Hearing Aid Industry: SWOT Analysis
Figure 11: Global: Hearing Aid Industry: Value Chain Analysis
Figure 12: Global: Hearing Aid Industry: Porter’s Five Forces Analysis
Figure 13: Global: Hearing Aid (Hearing Devices) Market: Sales Value (in Million US$), 2013 & 2018
Figure 14: Global: Hearing Aid (Hearing Devices) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 15: Global: Hearing Aid (Hearing Implants) Market: Sales Value (in Million US$), 2013 & 2018
Figure 16: Global: Hearing Aid (Hearing Implants) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 17: Global: Hearing Aid (Sensorineural Hearing Loss) Market: Sales Value (in Million US$), 2013 & 2018
Figure 18: Global: Hearing Aid (Sensorineural Hearing Loss) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 19: Global: Hearing Aid (Conductive Hearing Loss) Market: Sales Value (in Million US$), 2013 & 2018
Figure 20: Global: Hearing Aid (Conductive Hearing Loss) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 21: Global: Hearing Aid (Adults) Market: Sales Value (in Million US$), 2013 & 2018
Figure 22: Global: Hearing Aid (Adults) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 23: Global: Hearing Aid (Pediatrics) Market: Sales Value (in Million US$), 2013 & 2018
Figure 24: Global: Hearing Aid (Pediatrics) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 25: Global: Hearing Aid (Analog) Market: Sales Value (in Million US$), 2013 & 2018
Figure 26: Global: Hearing Aid (Analog) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 27: Global: Hearing Aid (Digital) Market: Sales Value (in Million US$), 2013 & 2018
Figure 28: Global: Hearing Aid (Digital) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 29: Global: Hearing Aid (Hospitals) Market: Sales Value (in Million US$), 2013 & 2018
Figure 30: Global: Hearing Aid (Hospitals) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 31: Global: Hearing Aid (ENT Clinics and Audiology Centres) Market: Sales Value (in Million US$), 2013 & 2018
Figure 32: Global: Hearing Aid (ENT Clinics and Audiology Centres) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 33: Global: Hearing Aid (Individual) Market: Sales Value (in Million US$), 2013 & 2018
Figure 34: Global: Hearing Aid (Individual) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 35: Global: Hearing Aid (Other End-Users) Market: Sales Value (in Million US$), 2013 & 2018
Figure 36: Global: Hearing Aid (Other End-Users) Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 37: Europe: Hearing Aid Market: Sales Value (in Million US$), 2013 & 2018
Figure 38: Europe: Hearing Aid Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 39: North America: Hearing Aid Market: Sales Value (in Million US$), 2013 & 2018
Figure 40: North America: Hearing Aid Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 41: Asia Pacific: Hearing Aid Market: Sales Value (in Million US$), 2013 & 2018
Figure 42: Asia Pacific: Hearing Aid Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 43: Middle East and Africa: Hearing Aid Market: Sales Value (in Million US$), 2013 & 2018
Figure 44: Middle East and Africa: Hearing Aid Market Forecast: Sales Value (in Million US$), 2019-2024
Figure 45: Latin America: Hearing Aid Market: Sales Value (in Million US$), 2013 & 2018
Figure 46: Latin America: Hearing Aid Market Forecast: Sales Value (in Million US$), 2019-2024


List of Tables

Table 1: Global: Hearing Aid Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Hearing Aid Market Forecast: Breakup by Product Type (in Million US$), 2019-2024
Table 3: Global: Hearing Aid Market Forecast: Breakup by Hearing Loss (in Million US$), 2019-2024
Table 4: Global: Hearing Aid Market Forecast: Breakup by Patient Type (in Million US$), 2019-2024
Table 5: Global: Hearing Aid Market Forecast: Breakup by Technology Type (in Million US$), 2019-2024
Table 6: Global: Hearing Aid Market Forecast: Breakup by End-User (in Million US$), 2019-2024
Table 7: Global: Hearing Aid Market Forecast: Breakup by Region (in Million US$), 2019-2024
Table 8: Global: Hearing Aid Market Structure
Table 9: Global: Hearing Aid Market: Key Players

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