LAS VEGAS, October 17, 2017 /PRNewswire/ --
Market Description
The Global Hearing Aids Market was evaluated over USD 4.17 billion in 2016 and is anticipated to
reach approximately USD 6 billion by
2025, while registering a compound annual growth rate (CAGR) of
4.13% over the forecast period. Hearing disability is the most
common sensory discrepancy in humans, striking over 250 million
people globally. It is turning out to be a terrible health and
social issue, especially in the geriatric population. This is
directing to troubled change of information due to deafness,
inducing dependence, loneliness, and ultimately frustration, plus
communication troubles, hence significantly affecting day-to-day
life of the aged people. Hence hearing aids, are devices intended
to enhance the hearing ability. Hearing aids are segmented as
medical devices in the majority countries and governed by the
particular policies. Hearing aids are unable to actually rectify a
hearing loss, in fact they render support or assistance to make
sounds accessible. Some of the common type of hearing aids are;
Behind-the-ear (BTE), In-the-canal (ITC), Completely-in-the-canal
(CIC), etc. Modern hearing aids need configuration to go with the
lifestyle of the wearer and physical features. Also, these aids
need to be configured according to the hearing disability. This
procedure is referred as fitting and is executed by specialist
i.e., audiologists. The number of benefits hearing aids render
depends hugely on their fitting quality. Nearly all hearing aids
which are used in the United
States are digital. Latest technology introduced by NHS
surgeons in this field is the new 'Carina' device. It has a
battery-powered motor, processor and microphone which are implanted
within the skull and underneath the skin near the ear in a
complicated surgical procedure. Six to eight weeks following the
surgery, the device is turned on and the patient gains the hearing
ability again.
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Global Market Research Report Overview on Hearing Aids Market @
http://www.crystalmarketresearch.com/report/hearing-aids-market.
Driver and Restraints of Hearing Aids
Market
According to National Institute on Deafness and Other Communication
Disorders (NIDCD), over 37.5 million American people who
are more than 18 years old have hearing disabilities.
Therefore, increasing prevalence along with rising geriatric
population is driving the requirement for hearing aids, as people
with this age group are more vulnerable to developing hearing
disabilities. The expansion of hearing aids market can also be
assigned to technological innovations in the hearing aids like
miniaturization, superior connectivity, improved listening and
elevated product efficiency. In 2016, Europe region held a significant i.e., around
one-third of the global market share. This is mainly owing to a
variety of factors like the growing occurrence of deafness and
hearing disabilities along with the rapidly rising elderly
population, augmented acceptance of technologically innovative
hearing solutions, and increased buying ability of the patients.
Asia Pacific region is expected to
show lucrative market growth during the projected period, owing to
the accessibility of unsaturated and untapped markets along with
rising hearing aids demand. Speedy monetary development combined
with rising awareness levels among patients, is a key opportunity
for the players in the hearing aids market.
A sample of this report is available upon request@
http://www.crystalmarketresearch.com/report-sample/HC059.
Competitors and Market Classification
The major market players in the global hearing aids market are;
Sonova Holding AG, Sivantos Pte Ltd, William Demant Holdings A/S,
GN Store Nord A/S, and Starkey Hearing Technologies. According to
products types, the global market is divided into; In-The-Ear
Hearing Aids, Behind-The-Ear Hearing Aids, Receiver-In-The-Ear
Hearing Aids and Canal Hearing Aids. On the basis of Technology,
the market industry is split as; Aquaculture: Analog Hearing Aids
and Digital Hearing Aids. Geographically, the global hearing aids
market is segmented in regions which are; Europe (Germany, Spain, Italy,
France, UK and Rest of
Europe), Asia-Pacific (Japan, China,
India, Australia, South
Korea and Rest of Asia
Pacific), North America
(the United States, Mexico and Canada) and Rest of the World (Brazil, Saudi
Arabia, South Africa,
United Arab Emirates and
Others).
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