Adult Hearing Aids Market Projected to Register 7% CAGR to 2023 - PMLiVE

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Market Study Report adds 2018-2023 Global Adult Hearing Aids market report that offers an exhaustive coverage of the industry with brief analysis, data charts, figures, statistics that help take business decisions, company profiles and more.

Globally, the Adult Hearing Aids market has witnessed a rapid expansion over the last few years and had reached a valuation of about USD 6,760 billion in 2017, according to a report published by Global Info Research. The industry grew at an average rate of 7.11% from 2013 to 2017, mainly affected by the rising prices of the products, and registered a sale of nearly 13,500 K Units in 2017. With the average cost of these devices increasing from USD 482 per Unit in 2013 to USD 508 per Unit in 2017, the changing economic status worldwide is expected to drive the prices higher in the next five years.

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The adult hearing aids market has been segmented into In-the-ear (ITE), Behind-the-ear (BTE), In-The-Canal (ITC) and Completely-In-Canal (CIC) hearing aids. The proportion of BTE hearing aids in the overall industry revenue was observed to be growing over the last five years and held around 75% share in 2017.

A hearing aid or deaf aid is an electroacoustic device which is designed to amplify sound for the wearer, usually with the aim of making speech more intelligible, and to correct impaired hearing as measured by audiometry. Different types of hearing aids are made to accommodate different types of hearing loss.

The global average price of Adult Hearing Aids is in the increasing trend, from 482 USD/Unit in 2013 to 508 USD/Unit in 2017. With the situation of global economy, prices will be in increasing trend in the following five years.

The classification of Adult Hearing Aids includes Behind-the-ear (BTE) Hearing Aids, In-the-ear (ITE) Hearing Aids, In-The-Canal (ITC) Hearing Aids and Completely-In-Canal (CIC) Hearing Aids, and the proportion of Behind-the-ear (BTE) Hearing Aids in 2017 is about 75%, and the proportion is in increasing trend from 2013 to 2017.

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Adult Hearing Aids is widely used for congenital hearing loss, age-related hearing loss and acquired trauma hearing loss. The most proportion of Adult Hearing Aids is used for age-related hearing loss, and the proportion in 2017 is 82%.

North America and Europe are the two largest consumption place, with a similar consumption market share nearly 34% in 2017.

The worldwide market for Adult Hearing Aids is expected to grow at a CAGR of roughly 7.0% over the next five years, will reach 10100 million US$ in 2023, from 6760 million US$ in 2017, according to a new study.

In terms of application, the Adult Hearing Aids market is extensively used by patients suffering from age-related hearing loss, congenital hearing loss, and acquired trauma hearing loss. Hearing aids used for age-related hearing loss had garnered the highest returns in 2017 with 82% proportion of the global market. The regional landscape was hugely dominated by North America and Europe in 2017 as both held almost 34% of the consumption market share.

Market Segment by Manufacturers, this report covers

  • William Demant
  • Sonova
  • Starkey
  • Sivantos
  • GN ReSound
  • Widex
  • Rion
  • Sebotek Hearing Systems
  • Audina Hearing Instruments
  • Microso
  • Audicus
  • Horentek
  • Arphi Electronics

Industry leaders like GN ReSound, Sivantos, Sonova, Starkey, William Demant and Widex have achieved significant developments in terms of technology and innovations. They have been able to establish a strong foothold in the market owing to lesser competition.

For More Details about this report: https://www.marketstudyreport.com/reports/global-adult-hearing-aids-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023

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