Behind-the-ear hearing aids dominated the overall market in terms of share in 2013 at over 55.0%. These hearing aids are used for the treatment of profound hearing loss and are a device of preference when it pertains to the treatment of hearing loss in children. Moreover, high prevalence of hearing loss in children is expected to serve this segment as a high impact rendering driver. According to the U.S. National Center of Health Statistics (NCHS) 12 out of every 1,000 American suffering from hearing loss belong to the age group of below 18 years.
Growing global base of geriatric population coupled with increasing prevalence of deafness is expected to serve this market as a primary growth driver. In addition, rapidly increasing usage rates of 100% digital hearing aid technology and patient awareness levels are expected to drive market growth during the forecast period.
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Further key findings from the study suggest:
Canal hearing aids demand is expected to grow at the highest CAGR of over 4.5% during the forecast period. This segment comprises in-the-canal, invisible-in-canal and completely-in-canal aids. Growing number of R&D initiatives aimed at performance enhancement and the increasing demand for invisible and aesthetically appealing hearing aids as a result of changing patient lifestyle habits are some of the factors accounting for its lucrative CAGR.
Digital hearing aid technology held the largest share of the technology market in 2013 at over 90.0% in 2013 majorly owing to its relatively higher efficiency and its ability to enable the use of technological advancements such as wireless and Bluetooth technologies.
Europe accounted for the largest share of the overall hearing aids market in 2013 at over 40.0% in 2013. Presence of large bases of geriatric population in developed Western European countries with patients holding relatively higher purchasing powers is one of the primary factors attributing to its large share.
Asia Pacific on account of the presence of a constantly improving healthcare infrastructure, high unmet medical needs and increasing patient disposable incomes, is expected to grow at the highest CAGR of over 4.5% from 2014 to 2020.
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Key market players include Sonova Holding AG, William Demant Holding A/S, GN Resound, Widex A/S, and Siemens AG.
For the purpose of this study, Grand View Research has segmented the hearing aids market on the basis of product, technology and region:
Hearing Aids Product Outlook
In-The-Ear Aids (ITE)
Receiver-In-The-Ear Aids (RITE)
Behind-The-Ear Aids (BTE)
Canal Hearing Aids: In-The-Canal (ITC), Invisible-In-Canal (IIC), Completely-In-Canal (CIC)
Hearing Aids Technology Outlook
Digital Hearing Aids
Analog Hearing Aids
Hearing Aids Regional Outlook
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Table of Contents
Chapter 1. Executive Summary
1.1. Hearing Aids – Industry Summary and Critical Success Factors (CSFs)
Chapter 2. Hearing Aids Industry Outlook
2.1. Market Segmentation
2.2. Market Size and Growth Prospects
2.3. Hearing Aid devices Market Dynamics
2.3.1. Market Driver Analysis
2.3.2. Market Restraint Analysis
2.4. Key Opportunities Prioritized
2.5. Industry Analysis – Porter’s
2.6. Hearing Aids Market PESTEL Analysis, 2012
Chapter 3. Hearing Aids Product Outlook
3.1. In-The-Ear-Aids( ITE)
3.1.1.In-The-Ear Aids (ITE)Market Estimates and Forecasts, 2012 – 2020 (USD Million)
3.2. Receiver-In-The-Ear Aids (RITE)
3.2.1.Receiver-In-The-Ear Aids (RITE) Market Estimates and Forecasts, 2012 – 2020 (USD Million)
3.3. Behind-The-Ear Aids (BTE)
3.3.1.Behind-The-Ear Aids (BTE)Market Estimates and Forecasts, 2012 – 2020 (USD Million)
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