Global Canal Hearing Aids Market 2017-2021

Global canal hearing aids market forecast

According to the canal hearing aids industry analysis, the global canal hearing aids market will grow steadily at a CAGR of around 5% by 2021. One of the primary drivers for this market is the market penetration of digital technologies for hearing aids. With the use of digital technology, the background noise can be eliminated. In some hearing aids, the background noise can be controlled by using volume controller and noise blocker. Furthermore, smartphones have been integrated with the modern applications for helping hearing impairment patients in leading a normal lifestyle. The digital hearing aids are also equipped more than one listening programs. For instance, Signia Insio Primax 7px IIC is one of the premium, digital technology based canal hearing aid device. Signia has introduced a free mobile application called TouchControl, which is compatible with iPhones and Android devices. With the use of this application, the individual can discreetly control the hearing aids using a smartphone. This technological development in the canal hearing aids market is expected to propel the market growth in the coming years.

In terms of geography, EMEA accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. This growth in the market share is mainly due to the high prevalence of hearing disorders in the region. Also, the availability of reimbursement policies in several countries in the region has played a crucial role in making the device available for the consumer. With government focussing more on the patient care the global canal hearing aids market is expected to grow exponentially.

Competitive landscape and key vendors

The global canal hearing aids market is divided by the presence of large, medium, and small-sized companies. To gain a competitive advantage, vendors in the hearing devices market are constantly focussing on advances in technology and product upgrade. Established vendors hold the major share of the global market. With increasing geographic presence and more product extensions, the competition in the market is expected to intensify in the next four years.

Leading vendors in the market are 

• Sonova
• Sivantos
• Starkey
• Widex

Other prominent vendors in the hearing devices market include Aura Hearing Aid, Beltone, Eartone, GN Hearing, Knowles Electronics, MicroTech, Miracle Hearing Aid Clinic, Persona, Shenzhen Sunsky Technology, and Union Hearing Aid Centre.

Segmentation by product and analysis of the canal hearing aids market

• CIC
• ITC
• IIC

Based on the canal hearing aids industry statistics, completely-in-canal (CIC) hearing aid devices are one of the most commonly used hearing aid devices across the globe. They are efficient because of their improved interior circuit, microphone, and receiver. Further, the availability of product customization will drive growth in this segment over the next four years.

Segmentation by end-user and analysis of the canal hearing aids market

• Hospitals
• Clinics
• Individuals

In this market study, analysts have estimated the hospitals to dominate the hearing devices market during the forecast period. Factors such as the availability of a specialized team of audiologists and reduction in procedure costs are the key contributors to the dominance of this segment in the canal hearing aids market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global canal hearing aids market?
• What are the key market trends impacting the growth of the global canal hearing aids market?
• What are the challenges to market growth?
• Who are the key vendors in the global canal hearing aids market?
• What are the market opportunities and threats faced by the vendors in the global canal hearing aids market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global canal hearing aids market?

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