Report Highlights
The global market for hearing aids is estimated to increase from $6.1 billion in 2022 to reach $8.5 billion by 2027, at a compound annual growth rate (CAGR) of 6.8% from 2022 through 2027.
Report Includes
- 71 data tables and 27 additional tables
- A detailed overview of the global markets for hearing aid devices within the MedTech industry
- Analyses of the global market trends, with historic market revenue data from 2019 to 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for hearing aids, and areas of focus to forecast this market into various segments and sub-segments
- Estimation of the actual market size and revenue forecast for hearing aid devices market in USD million values, and corresponding market share analysis by product, patient type, type of hearing loss, and region
- Country specific data and market value analysis for the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China and India
- In-depth information (facts and figures) concerning market drivers, opportunities and challenges, and other macroeconomic forces affecting the global market outlook of hearing aid devices
- Review of the international regulatory landscape for hearing aids with emphasis on recently approved products as well as products under development or in different stages of clinical trials
- Identification of the companies best positioned to meet the demand owing to their proprietary technologies, product launches, mergers and acquisitions, and other market strategic advantages
- Profile descriptions of the leading market participants, including Sonova Holding AG, Demant A/S, WS Audiology, GN Store Nord A/S, and Starkey Hearing Technologies
Report Scope
This report provides a detailed analysis of the hearing aid market. This report highlights the current and future market potential of hearing aids, along with a discussion of the drivers, restraints and challenges in the market. The report also covers market projections through 2027 and market rankings for key market players. It covers the competitive landscape and regulatory scenario. The report details the market share of hearing aids based on product, patient type and type of hearing loss.
The market is segmented into behind-the-ear (BTE) aids, in-the-ear (ITE) aids, receiver-in-the-ear (RITE) hearing aids and canal hearing aids, based on product. The study does not cover hearing implants and Personal Sound Amplification Products (PSAP) under the scope of this study.
The market is segmented into pediatric, adult and geriatric patients and into sensorineural and conductive hearing loss types. The report includes the company profiles of key players with detailed information about business segments, financials, product portfolios and recent developments. The report explains the impact of the COVID-19 pandemic on this market.
By geography, the market is segmented into North America, Europe, Asia-Pacific and RoW. The North American region includes the U.S., Canada and Mexico; Europe includes Germany, U.K., Italy, France, Spain and the Rest of Europe; Asia-Pacific includes China, India, Japan and the Rest of Asia-Pacific segment. Market estimate data has been provided for 2019 as the historic year, 2021 as the base year and forecast out to 2027.
Report Synopsis
| Report Metrics | Details | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2021 | ||||||||||||
| Forecast period considered | 2022-2027 | ||||||||||||
| Base year market size | $5.8 billion | ||||||||||||
| Market size forecast | $8.5 billion | ||||||||||||
| Growth rate | CAGR of 6.8% from 2022 to 2027 | ||||||||||||
| Units considered | $ Millions | ||||||||||||
| Segments covered | Product, Patient Type, Type of Hearing Loss, and Region | ||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) | ||||||||||||
| Countries covered | U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China and India | ||||||||||||
| Key Market Drivers |
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| Companies studied |
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BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
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