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Press Release

Oct 16, 2019 09:56 UTC

Hearing Aids Markets, 2023: Focus on US, 5EU Markets, Japan, and RoW - ResearchAndMarkets.com

DUBLIN--(Business Wire)--The "Hearing Aids Market US, 5EU Markets, Japan, and RoW" report has been added to ResearchAndMarkets.com's offering.

Valued at more than $7.7bn in 2018, the Global Hearing Aids Market is growing at a healthy pace - in the upper single-digits, at a compound annual growth rate (CAGR) of nearly 7.5%.

Growth will be driven by the increasing global prevalence of hearing loss. According to the World Health Organization (WHO), approximately 466 million people have disabling hearing loss worldwide, including 34 million who are children, and this number is expected to grow to nearly 630 million by 2030.

Hearing aids have been around for decades; yet, it is a substantially underpenetrated market. A key to market growth is expanding access to those who do not have access or cannot afford hearing aids, in developing and developed markets alike, as well as technological improvements and marketing to younger patients.

Major limiters to growth include high expense/out-of-pocket pay, limited access in emerging markets, stigma, low compliance, technological limitations, inconvenience and requirement for multiple visits to the audiologist.

Overall growth of the hearing aids market will be driven by strong benefits (eg improved quality of life, social/mental health); lowered prices/online/mass retailer accessibility; and steadily improving hearing aid technology or innovations (eg artificial intelligence, improved speech/sound clarity, less interference, directional hearing technology, rechargeability, miniaturization/invisible hearing aid designs, etc.).

Other market drivers include aggressive sales/marketing and education efforts, strong and growing retail/audiologist networks and audiology practice referrals targeting patients with all forms of hearing loss, and expanded access to more regulated/higher-quality yet lower-cost hearing aids (especially in the US market due to the new FDA OTC hearing aids law set to finalize by 2020).

This report provides the following useful information:

  • Prevalence of hearing loss
  • Hearing aid portfolios offered by leading manufacturers
  • New and emerging hearing aid technologies
  • Key trends, drivers and limiters
  • Market and competitive analysis (including 5-year market forecast, 2018 market share by region, and corporate growth strategies).

Key Topics Covered:

Executive Summary

  • Hearing loss prevalence
  • Hearing aid technology
  • Hearing aids market
  • Market drivers and limiters
  • Competition - market leaders
  • Methodology
  • Bibliography

Hearing aids market forecast ($m), 2018-23

Overview of Hearing Loss and Hearing Aids

  • Ear anatomy and the hearing process
  • Prevalence
  • Types of hearing loss
  • Causes
  • Diagnosis and treatment
  • Hearing aid overview
  • Bibliography

Exhibit 1-1: Human ear anatomy

  • Examples of hearing aid styles
  • Differences between hearing aids and cochlear implants
  • Otofonix's low cost APEX digital hearing amplifier

Hearing Aid Technology

  • Hearing aid portfolios by major manufacturer
  • The GN Group/GN Store Nord A/S
  • Sonova Group
  • Starkey Hearing Technologies
  • William Demant Group
  • WS Audiology A/S (previously Sivantos Group)
  • FDA Reauthorization Act of 2017 creates new category of OTC hearing aids
  • Direct-to-consumer/lower-cost hearing aids
  • Avento
  • Audicus
  • Eargo
  • Miracle-Ear
  • Ovation Hearing
  • Emerging technology
  • Decibel Therapeutics
  • Earlens Corp
  • Frequency Therapeutics
  • Bibliography

Leading hearing aid brands, by manufacturer

  • The ReSound LiNX 3D and ReSound Smart 3D app
  • The new Phonak Audo Marvel
  • The 100% invisible Lync
  • The Moxi All and Insera in-the-ear hearing aids
  • Starkey Hearing & Activity Tracking hearing aid
  • Starkey Invisible-in-Canal Hearing Aid
  • The Zerena 9 miniRITE rechargeable hearing aid
  • Selected Opn hearing aids
  • The new Kaizn Personal AI Assistant
  • The new Signia Styletto Connect
  • The low-cost Audicus Clara
  • The Eargo hearing aid
  • Images of the cochlea and stereocilia
  • The Earlens hearing aid

Market Analysis

  • Hearing aids market
  • Market forecast: global
  • Market drivers and limiters
  • Market forecast: by region
  • US market
  • Five major EU markets
  • Japanese market
  • Rest of the world market
  • Competitive analysis
  • Market share: global
  • Market share: by region
  • Hearing aid revenues: by geography
  • Financials and corporate growth strategies
  • The GN Group/GN Store Nord A/S
  • Sonova Group
  • William Demant Group
  • WS Audiology (previously Sivantos Group)
  • Bibliography

Exhibit 3-1: Hearing aids market forecast ($m), 2018-23

  • Hearing aids market, forecast sales by region ($m), 2018-23
  • Hearing aids market, global share by supplier ($m), 2018
  • Hearing aids market, estimated share by supplier and region, 2018
  • Manufacturers' hearing aid revenues by geography, 2018
  • The GN Group/GN Store Nord, revenues by segment, FY2018
  • Sonova, revenues by segment, FY2018
  • William Demant, revenues by segment, FY2018

Appendix A: company listing

For more information about this report visit https://www.researchandmarkets.com/r/gxe2hr

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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