The global hearing aid market is poised to grow by USD 2.85 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Hearing Aid Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Hearing Aid Market Analysis Report by Product (Hearing devices and Hearing implants), End-user (Adults and Pediatrics), Geographic segmentation (APAC, Europe, MEA, North America, and South America), and the Segment Forecasts, 2020-2024".
https://www.technavio.com/report/hearing-aid-market-industry-analysis
The market is driven by the growth in use of binaural hearing aids. In addition, the growing adoption of hearing aids with rechargeable batteries is anticipated to boost the growth of the hearing aid market.
People suffering from bilateral hearing loss, lose their hearing capacity on both the ears. Binaural hearing aids used by these individuals are more efficient in comparison to single hearing aids as they enable better hearing from all directions. These hearing aids provide a better understanding of speech by selective listening, facilitate clear understanding of sounds in noisy environments, and provide improved sound identification. Aging population suffering from Tinnitus are also recommended to use binaural hearing aids. Thus, the growth in use of binaural hearing aids is expected to drive market growth during the forecast period.
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Major Five Hearing Aid Market Companies:
Amplifon Spa
Amplifon Spa operates the business under various segments such as EMEA, Americas, APAC, and Corporate. The company offers hearing aid solutions such as Behind-The-Ear hearing aids Receiver In-The-Ear Canal, and In-The-Ear.
Audina Hearing Instruments Inc.
Audina Hearing Instruments Inc. offers products through the following business units: Hearing Aids and Ear Molds. The company offers hearing aid devices and ear molds. It also provides custom linear hearing instruments, pre-wire kits, InstaFIT devices, and other products.
Cochlear Ltd.
Cochlear Ltd. operates under various business segments, namely Cochlear implants, Services, and Acoustics. The company offers Cochlear True Wireless, Middle-ear implants, bone conduction implants, and cochlear implants.
Demant AS
Demant AS offers products through the following business segments: EMEA, Americas, APAC, and Corporate. The company offers hearing aid solutions such as Receiver In-The-Ear Canal, In-The-Ear, and Behind-The-Ear hearing aids.
GN Store Nord AS
GN Store Nord AS offers products through the following business segments: GN Hearing and GN Audio. The company offers hearing aid solutions such as ReSound Enya, ReSound Up Smart, ReSound LiNX Quattro, Beltone Amaze, ReSound Vea, and more.
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Hearing Aid Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Hearing devices
- Hearing implants
Hearing Aid Market End-user Outlook (Revenue, USD Billion, 2020-2024)
- Adults
- Pediatrics
Hearing Aid Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- Europe
- MEA
- North America
- South America
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