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Hearing Aid Market by Product, End-user, and Geography - Forecast and Analysis 2023-2027

  • Published: Jan 2023
  • Pages: 155
  • SKU: IRTNTR41078
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The hearing aid market is estimated to grow at a CAGR of 7.24% between 2022 and 2027. The size of the market is forecast to increase by USD 3,652.5 million. The growth of the market depends on serval factors, including the global rise in the number of patients with hearing loss, growth in the use of binaural hearing aids, and a growing focus on compliance with industrial standards. 

This report extensively covers market segmentation by product (hearing devices and hearing implants), end-user (adults and pediatricians), and geography (Europe, North America, Asia, and Rest of World). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.

What will be the size of the Hearing Aid Market During the Forecast Period?

Hearing Aid Market Size

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Parent Market Analysis

Technavio categorizes the global hearing aid market as a part of the global healthcare equipment market. The parent global healthcare equipment market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, implants, accessories, and consumables that are used for the diagnosis, monitoring, and treatment of various diseases.  Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Hearing Aid Market: Key Drivers, Trends, Challenges, and Customer Landscape

The growth in the use of binaural hearing aids is notably driving the market growth, although factors such as the prevalence of substitutes for hearing aids may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Hearing Aid Market Driver

The growth in the use of binaural hearing aids is notably driving the market growth. Binaural hearing aids are mainly used by people who have bilateral hearing loss, which refers to hearing loss in both ears. The use of binaural hearing aids helps an individual with a hearing disability to hear naturally. These hearing aids offer better hearing from all directions and are more efficient than single hearing aids. It aids to facilitate a clear understanding of sounds, even in noisy environments. This device provides a wider hearing range, improved sound identification, and a better understanding of speech by selective listening. It keeps both ears active, resulting in less hearing loss deterioration, besides offering balanced hearing and comfort in cases of loud noise.

Primarily, the aging population suffers from Tinnitus, a symptom of an underlying condition such as age-related hearing loss, a disorder of the circulatory system, or an ear injury. Tinnitus is a perception of a ringing noise in the ear. The use of binaural hearing aids helps in reducing Tinnitus among people. Additionally, in certain cases, users of cochlear implants experience residual hearing in their non-implant ears. Binaural hearing aids can be used as an effective solution to this. Therefore, the rise in the application of binaural hearing aids is expected to fuel the growth of the global market during the forecast period.

Significant Hearing Aid Market Trend

The growth of the internet of things (IoT)-integrated devices with additional features are emerging trends in the market. The global market is witnessing a growing demand for IoT-integrated devices. Advanced features such as biometrics analysis, smartphone connectivity, RFID sensors, and voice search options have emerged as top trending features across the healthcare industry. The growing popularity of smartphones has enabled users from all industries to opt for devices that can be easily connected to their smartphones. Smartphone connectivity provides users with better monitoring capabilities and enhanced connectivity. For instance, an IoT-integrated hearing aid device could easily establish a connection with a smartphone via Bluetooth, which transmits the sound directly to the earpiece. Such features eliminate the need for extra earphones.

Furthermore, a few additional features like noise reduction capability, data capture, and automatic adjustment are preferred by users. Companies are, therefore, focusing on developing devices with such features. For instance, in March 2019, Sonova and Semtech Corporation developed an advanced radio system that features an IC as the main component, enabling support for multiple radio protocols in the 2.4-GHz band. This new chip operates efficiently even at low power. Hence, such factors are expected to drive the growth of the global market during the forecast period.

Major Hearing Aid Market Challenge

The prevalence of substitutes for hearing aids is a major challenge impeding market growth. Hearing aids can be substituted by devices such as smart earbuds. These are wireless in-ear smart devices that provide additional features beyond the transmission of sound. Smart earbuds are equipped with integrated microphones and a power source and include smart ambient noise control. These devices are operated based on digital signal processing (DSP) and offer a variety of benefits over traditional hearing aids.

These earbuds are widely used by consumers for noise cancellation, workout monitoring, ensuring audio quality during phone calls, and other applications. They also use Bluetooth for synchronizing with tablets, PCs, smartphones, and smart home systems. By synchronizing smart earbuds with these devices, users can listen to the news, stream music, listen to messages, and other applications. Some vendors are also offering smart earbuds with gesture recognition. Therefore, the availability of such devices with advanced technologies might reduce the demand for hearing aids during the forecast period, thereby affecting the growth of the global market.

Key Hearing Aid Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Hearing Aid Market Share by Geography

Global Hearing Aid Market Customer Landscape

Who are the Major Hearing Aid Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Advin Health Care - The company operates under one segment. The company under this segment focuses on manufacturing products such as medical equipment, hospital supplies, and surgical instruments. The key offerings of the company include hearing aid. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Amplifon SpA
  • Arphi Electronics Pvt. Ltd.
  • Audicus Inc.
  • Audina Hearing Instruments Inc.
  • Beltone
  • Bernafon AG
  • Cochlear Ltd.
  • Demant AS
  • GN Store Nord AS
  • Lisound Hearing Aid Fuzhou Co. Ltd.
  • MED EL Elektromedizinische Gerate GmbH
  • Oticon Inc.
  • RION Co. Ltd.
  • SeboTek Hearing Systems LLC
  • Sonova AG

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, robust, tentative, and weak.

What is the Fastest-Growing Segment in the Hearing Aid Market?

The market share growth by the hearing devices segment will be significant during the forecast period. Hearing devices are of various types, such as receiver-in-the-ear (RITE), behind-the-ear (BTE), in-the-ear (ITE), and canal hearing aids. 

Hearing Aid Market Size

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The hearing devices segment was valued at USD 5,509.18 million in 2017 and continued to grow until 2021During the forecast period, BTE hearing aids are likely to gain higher popularity in the market than other hearing devices, as they are ideal for most people with hearing problems. These reduce the problem of feedback due to the greater distance between the receiver and the microphone. BTE is also widely used for children, as it fits easily into their ears. It can also accommodate various earmold types, which need to be replaced as the child grows. This is expected to increase the demand for BTE hearing aids during the forecast period. One of the major problems with the use of hearing devices is the need for the replacement of earmolds or earbuds every 2-4 years to preserve the acoustic seal on the earmolds. In certain types of hearing devices, earmolds need regular re-tubbing to maintain optimum sound quality. This is likely to incur additional costs for end-users of hearing devices. Hence, such factors are expected to drive the growth of the hearing devices segment of the global market during the forecast period.

Which are the Key Regions for the Hearing Aid Market?

Hearing Aid Market Share by Geography

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Europe is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

In terms of revenue, Europe is expected to witness significant growth in the global market during the forecast period. Market growth is driven by factors such as the rise in the aging population and the prevalence of hearing loss in the region. Age-related changes in the peripheral and central auditory systems lead to hearing impairment.

The risk of developing problems related to hearing loss is more prevalent among the geriatric population in countries across Europe. Therefore, the rise in the geriatric population in Europe will increase the demand for all kinds of hearing aids, including hearing implants and hearing devices, which will consequently fuel market growth. The rise in the prevalence of hearing loss across the region is also attributed to higher levels of noise pollution. These factors have led to an increase in the use of hearing aids among people with self-reported hearing loss in Europe. 

Furthermore, several new products are being launched in the market, which includes SONNET 2 and fitting software named MAESTRO 8 by MED-EL. The increase in the availability of such devices is expected to fuel the market's growth in Europe. Additionally, a rise in collaborations by vendors of hearing aids with various technology providers to produce advanced hearing aids has been witnessed in the region. For instance, in January 2020, an Australia-based company named Attune Hearing Pty Ltd was acquired by a Spanish firm named Amplifon SpA. Europe also witnesses the high adoption of binaural hearing aids due to the increasing prevalence of people suffering from hearing loss in both ears. The rise in the adoption of binaural hearing aids is expected to fuel market growth. Hence, these factors will boost the market growth in Europe during the forecast period.

The market in the region witnessed slow growth in 2020 due to the outbreak of the COVID-19 pandemic. However, in 2021, due to the introduction of various COVID-19 vaccines and large-scale vaccination drives, manufacturers globally resumed the production of hearing aids with stringent social distancing norms. The increasing availability of a wide variety of hearing aids, the increasing acceptance of cochlear implants and bone-anchored hearing aids among consumers, and the growing focus of vendors on manufacturing technologically advanced hearing aids are the major factors that are expected to lead to the recovery and stabilization of the market in Europe during the forecast period.

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2017 to 2027. 

  • Product Outlook (USD Million, 2017 - 2027)
    • Hearing devices
    • Hearing implants
  • End-user Outlook (USD Million, 2017 - 2027)
    • Adults
    • Pediatricians
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia
      • China
      • India
      • Vietnam
      • Others
    • Rest of World
      • Saudi Arabia
      • South Africa
      • Brazil
      • Others

Hearing Aid Market Scope

Report Coverage

Details

Page number

155

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.24%

Market growth 2023-2027

USD 3,652.5 million

Market structure

Fragmented

YoY growth 2022-2023(%)

5.46

Regional analysis

Europe, North America, Asia, and Rest of World (ROW)

Performing market contribution

Europe at 35%

Key countries

US, Germany, France, UK, and Japan

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Advin Health Care, Amplifon SpA, Arphi Electronics Pvt. Ltd., Audicus Inc., Audina Hearing Instruments Inc., Beltone, Bernafon AG, Cochlear Ltd., Demant AS, GN Store Nord AS, Lisound Hearing Aid Fuzhou Co. Ltd., MED EL Elektromedizinische Gerate GmbH, Oticon Inc., RION Co. Ltd., SeboTek Hearing Systems LLC, Sonova AG, Starkey Laboratories Inc., Widex AS, WS Audiology AS, and Zounds Hearing Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Hearing Aid Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the hearing aid market between 2023 and 2027
  • Precise estimation of the hearing aid market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across Europe, North America, Asia, and Rest of World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of hearing aid market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global hearing aid market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global hearing aid market 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 End-user Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Hearing devices - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Hearing devices - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Hearing devices - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Hearing devices - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Hearing devices - Year-over-year growth 2022-2027 (%)
    • 6.4 Hearing implants - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Hearing implants - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Hearing implants - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Hearing implants - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Hearing implants - Year-over-year growth 2022-2027 (%)
    • 6.5 Market opportunity by Product
      • Exhibit 42: Market opportunity by Product ($ million)

    7 Market Segmentation by End-user

    • 7.1 Market segments
      • Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
      • Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)
    • 7.2 Comparison by End-user
      • Exhibit 45: Chart on Comparison by End-user
      • Exhibit 46: Data Table on Comparison by End-user
    • 7.3 Adults - Market size and forecast 2022-2027
      • Exhibit 47: Chart on Adults - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Data Table on Adults - Market size and forecast 2022-2027 ($ million)
      • Exhibit 49: Chart on Adults - Year-over-year growth 2022-2027 (%)
      • Exhibit 50: Data Table on Adults - Year-over-year growth 2022-2027 (%)
    • 7.4 Pediatricians - Market size and forecast 2022-2027
      • Exhibit 51: Chart on Pediatricians - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Data Table on Pediatricians - Market size and forecast 2022-2027 ($ million)
      • Exhibit 53: Chart on Pediatricians - Year-over-year growth 2022-2027 (%)
      • Exhibit 54: Data Table on Pediatricians - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by End-user
      • Exhibit 55: Market opportunity by End-user ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 57: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 59: Chart on Geographic comparison
      • Exhibit 60: Data Table on Geographic comparison
    • 9.3 Europe - Market size and forecast 2022-2027
      • Exhibit 61: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 62: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 63: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 64: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Asia - Market size and forecast 2022-2027
      • Exhibit 69: Chart on Asia - Market size and forecast 2022-2027 ($ million)
      • Exhibit 70: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
      • Exhibit 71: Chart on Asia - Year-over-year growth 2022-2027 (%)
      • Exhibit 72: Data Table on Asia - Year-over-year growth 2022-2027 (%)
    • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • 9.7 US - Market size and forecast 2022-2027
      • Exhibit 77: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.8 Germany - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.9 France - Market size and forecast 2022-2027
      • Exhibit 85: Chart on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on France - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on France - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on France - Year-over-year growth 2022-2027 (%)
    • 9.10 UK - Market size and forecast 2022-2027
      • Exhibit 89: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.11 Japan - Market size and forecast 2022-2027
      • Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.12 Market opportunity by geography
      • Exhibit 97: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 98: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 99: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 100: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 101: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 102: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 103: Matrix on vendor position and classification
            • 12.3 Advin Health Care
              • Exhibit 104: Advin Health Care - Overview
              • Exhibit 105: Advin Health Care - Product / Service
              • Exhibit 106: Advin Health Care - Key offerings
            • 12.4 Amplifon SpA
              • Exhibit 107: Amplifon SpA - Overview
              • Exhibit 108: Amplifon SpA - Business segments
              • Exhibit 109: Amplifon SpA - Key news
              • Exhibit 110: Amplifon SpA - Key offerings
              • Exhibit 111: Amplifon SpA - Segment focus
            • 12.5 Arphi Electronics Pvt. Ltd.
              • Exhibit 112: Arphi Electronics Pvt. Ltd. - Overview
              • Exhibit 113: Arphi Electronics Pvt. Ltd. - Product / Service
              • Exhibit 114: Arphi Electronics Pvt. Ltd. - Key offerings
            • 12.6 Audicus Inc.
              • Exhibit 115: Audicus Inc. - Overview
              • Exhibit 116: Audicus Inc. - Product / Service
              • Exhibit 117: Audicus Inc. - Key offerings
            • 12.7 Audina Hearing Instruments Inc.
              • Exhibit 118: Audina Hearing Instruments Inc. - Overview
              • Exhibit 119: Audina Hearing Instruments Inc. - Product / Service
              • Exhibit 120: Audina Hearing Instruments Inc. - Key offerings
            • 12.8 Beltone
              • Exhibit 121: Beltone - Overview
              • Exhibit 122: Beltone - Product / Service
              • Exhibit 123: Beltone - Key offerings
            • 12.9 Cochlear Ltd.
              • Exhibit 124: Cochlear Ltd. - Overview
              • Exhibit 125: Cochlear Ltd. - Business segments
              • Exhibit 126: Cochlear Ltd. - Key offerings
              • Exhibit 127: Cochlear Ltd. - Segment focus
            • 12.10 Demant AS
              • Exhibit 128: Demant AS - Overview
              • Exhibit 129: Demant AS - Business segments
              • Exhibit 130: Demant AS - Key offerings
              • Exhibit 131: Demant AS - Segment focus
            • 12.11 GN Store Nord AS
              • Exhibit 132: GN Store Nord AS - Overview
              • Exhibit 133: GN Store Nord AS - Business segments
              • Exhibit 134: GN Store Nord AS - Key offerings
              • Exhibit 135: GN Store Nord AS - Segment focus
            • 12.12 Lisound Hearing Aid Fuzhou Co. Ltd.
              • Exhibit 136: Lisound Hearing Aid Fuzhou Co. Ltd. - Overview
              • Exhibit 137: Lisound Hearing Aid Fuzhou Co. Ltd. - Product / Service
              • Exhibit 138: Lisound Hearing Aid Fuzhou Co. Ltd. - Key offerings
            • 12.13 MED EL Elektromedizinische Gerate GmbH
              • Exhibit 139: MED EL Elektromedizinische Gerate GmbH - Overview
              • Exhibit 140: MED EL Elektromedizinische Gerate GmbH - Product / Service
              • Exhibit 141: MED EL Elektromedizinische Gerate GmbH - Key offerings
            • 12.14 RION Co. Ltd.
              • Exhibit 142: RION Co. Ltd. - Overview
              • Exhibit 143: RION Co. Ltd. - Product / Service
              • Exhibit 144: RION Co. Ltd. - Key offerings
            • 12.15 Sonova AG
              • Exhibit 145: Sonova AG - Overview
              • Exhibit 146: Sonova AG - Business segments
              • Exhibit 147: Sonova AG - Key offerings
              • Exhibit 148: Sonova AG - Segment focus
            • 12.16 Starkey Laboratories Inc.
              • Exhibit 149: Starkey Laboratories Inc. - Overview
              • Exhibit 150: Starkey Laboratories Inc. - Product / Service
              • Exhibit 151: Starkey Laboratories Inc. - Key offerings
            • 12.17 WS Audiology AS
              • Exhibit 152: WS Audiology AS - Overview
              • Exhibit 153: WS Audiology AS - Product / Service
              • Exhibit 154: WS Audiology AS - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 155: Inclusions checklist
                • Exhibit 156: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 157: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 158: Research methodology
                • Exhibit 159: Validation techniques employed for market sizing
                • Exhibit 160: Information sources
              • 13.5 List of abbreviations
                • Exhibit 161: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Hearing Aid market growth will increase by $3652.5 million during 2023-2027.
              The hearing aid market is expected to grow at a CAGR of 7.24% during 2023-2027.
              Technavio has segmented the hearing aid market by product (Hearing devices and Hearing implants) ,end-user (Adults, Pediatricians, APAC, South America, and MEA) , and geography (Europe, North America, Asia, and Rest of World (ROW)).
              Advin Health Care, Amplifon SpA, Arphi Electronics Pvt. Ltd., Audicus Inc., Audina Hearing Instruments Inc., Beltone, Bernafon AG, Cochlear Ltd., Demant AS, GN Store Nord AS, Lisound Hearing Aid Fuzhou Co. Ltd., MED EL Elektromedizinische Gerate GmbH, Oticon Inc., RION Co. Ltd., SeboTek Hearing Systems LLC, Sonova AG, Starkey Laboratories Inc., Widex AS, WS Audiology AS, Zounds Hearing Inc. are a few of the key vendors in the hearing aid market.
              Europe will register the highest growth rate of 35.44% among the other regions. Therefore, the hearing aid market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Germany
              • France
              • UK
              • Japan
              The key factors driving the hearing aid market growth are:
              • Global rise in number of patients with hearing loss
              • Increase in development of new products
              The hearing aid market vendors should focus on grabbing business opportunities from the hearing devices segment as it accounted for the largest market share in the base year.
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