Audiological Devices Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3200/- USD | Published Date: May 21, 2020 |
The global audiological devices market size was valued at more than USD 10 billion in 2019 and expected to register a significant CAGR of 5.6% during the forecast period 2020 to 2027. The market is contributed by factors such as the high prevalence of hearing problems, increasing geriatric population and rising cases of hearing disorder. Moreover technology advancement and cost-effective devices are projected to boost the market over the forecast. One study found 360 million people are suffering from hearing disability which is 5% of the world population. Around 50% of adults over 65 years are facing some degree of hearing problems. In America 48 million people are suffering from some degree of hearing loss which is around 20% of the American population.
The market is segmented by product, by technology, by distribution channel, and region. On the basis of product, the market is classified into hearing implants, hearing aids, diagnostic devices, and bone-anchored hearing aid. The hearing aid segment held the largest share of the global audiological devices market share in 2019 with more than 40% and expected to grow at a significant growth rate over the forecast period. In addition, the hearing implants segment is accounted for the fastest-growing segment over the forecast period due to the rising demand for invisible and complete-in-canal hearing aid.
By distribution channel, the market is segmented into retail, e-commerce, and other channels. The retail channel dominated the market and projected to grow at the same trend during the forecast period due to increasing number of retail stores. In addition, the e-commerce segment is expected to at the highest CAGR over the forecast period. According to a recent study, 3.6 million hearing aids were sold in the United States in 2016 and 75% sold through the private market.
The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The report titled "Audiological Devices Market: Global Industry Size, Share, Market Trends, Competitive Analysis and Forecast - 2020-2027", recently published by Research Corridor covering global market size for audiological devices market for the key segments and further cross-regional segmentation of these segments for the period 2020 to 2027.
According to Research Corridor, this study will provide in-depth analysis of segments on the basis of current trends, market dynamics and country level analysis of audiological devices industry. This report provides market estimates and forecast for the period 2018-2027, along with respective CAGRs for each segment and regional distribution for the period 2020-2027. In depth analysis of competitive landscape, porter's five forces model, value chain analysis, and pricing strategies are also covered in the report scope.
Historical & Forecast Period
- 2018 - Historical Year for Audiological Devices Market
- 2019 - Base Year for Audiological Devices Market
- 2020-2027 - Forecast Period for Audiological Devices Market
The audiological devices market report offers a primary overview of the audiological devices industry covering different product definitions, classifications, and participants in the industry chain structure. The quantitative and qualitative analysis is provided for the global market considering competitive landscape, development trends, and key critical success factors (CSFs) prevailing in the audiological devices industry.
Audiological Devices Market Segmentation:
- Hearing Aid
- Hearing Implants
- Diagnostic Instruments
- Bone Anchored Hearing Aid
By Distribution Channel:
List of Key Companies:
- William Demant Holdings A/S
- Starkey Hearing Technologies
- Widex A/S
- GN ReSound Group
- Sonova Holdings AG
- Amplifon SpA
- Cochlear Limited
- Siemens Healthcare
- North America Market Revenue and/or Volume
- Europe Market Revenue and/or Volume
- Asia Pacific Market Revenue and/or Volume
- Middle-East and Africa Market Revenue and/or Volume
- Latin America Market Revenue and/or Volume
Key Questions Answered by Audiological Devices Market Report
- Which segments (product type/applications/end-use/technology, etc) were most attractive for investments in 2019? How are these segments expected to fare during the forecast period 2020-2027?
- What will be the CAGR (Compound Annual Growth Rate) of audiological devices market during the forecast period?
- What was the audiological devices market size in 2018 and 2019; what are the estimated growth trends and market forecast for 2020-2027?
- Which manufacturer/vendor/provider in the audiological devices industry was the market leader in 2019? Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market?
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