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Global Hearing Aid Market - Drivers, Opportunities, Trends, & Forecasts 2017 - 2023

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Global Hearing Aid Market - Drivers, Opportunities, Trends, & Forecasts 2017 - 2023


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Global Hearing Aid Market - Drivers, Opportunities, Trends, & Forecasts 2017 - 2023

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Global Hearing Aid Market - Drivers, Opportunities, Trends, & Forecasts 2017 - 2023



Executive Summary

Worldwide Hearing Aid Devices Market-Drivers, Opportunities, Trends, and Forecasts: 2017-2023

Overview: Hearing loss is considered as a medical condition, where a person in unable to hear above a threshold value of 25 decibels in at least one of the ears. This hearing loss problems could be administered with the application of hearing aids or hearing implants. A hearing aid device is an instrument typically fitted in or behind a wearer's ear, designed to amplify and modulate sound. A typical hearing aid device includes a microphone, an amplifier, a receiver/speaker, and is powered by battery. Hearing aids can be characterized as monaural and binaural. Previously, hearing aid manufacturers used to introduce new product ranges once in every four years, which is now accelerated to every two years.

The market growth can be attributed to the rising initiatives by various governments and NGOs to raise awareness about hearing loss treatments. Moreover, latest technologies, such as IT-enabled hearing aid devices, are revolutionalizing the way hearing loss treatments were performed. However, the battery issues, such as battery life of the advanced and multipurpose hearing aid devices, is one of the major concerns of the hearing aid devices market presently.

The major drivers of the hearing aid devices market include increasing prevalence of hearing loss patients, especially in the emerging economies. Moreover, latest advancements in 3D printing has enabled the procedure of constructing 3D images of defective ear canals to provide the perfect hearing aid device or treatment to the patients. This step is expected to drive the market in the developed countries during the forecast period. The vendors are currently focusing on the technological advancements, new product launches, and mergers and acquisitions lead the market position. These factors are expected to drive the Global Hearing Aid Devices market in the future.

Market Analysis: The Global Hearing Aid Devices Market is estimated to witness a CAGR of 5.1% during the forecast period 2017-2023. The Hearing Aid Devices market is analyzed based on three segments-types, end users, and regions.

Regional Analysis: The regions covered in the report are the Americas, Europe, Asia Pacific, and Rest of the World (ROW). The Europe is set to be the leading region for the hearing aid devices market, followed by the Americas. The Asia Pacific is set to be the emerging region. India is considered to be one of the most attractive economies in the emerging regions. Companies, such as Sonova, execute hearing loss treatment awareness programmes in association with leading hospitals and healthcare agencies in developing countries to target more patients.

Product Type Analysis: The Global Hearing Aid Devices market can be categorized based on the following position types: Ear and Canal. In the Ear segment, products are further separated into BTE, RITE, and ITE products. In the Canal segment, product types such a IIC, CIC, and ITC devices are covered. The Ear segment dominates the market and is expected to gain more market share by 2023. The report also talks about the hearing implants segment. In this segment, cochlear implant dominates the market with more than 70% of the market share in 2016. The market is expected to grow at a positive year on year growth rate, as the market is already witnessing increasing number of advanced technology product launches. The market is also witnessing various mergers, acquisitions, and collaborations among the top players, which is defining the future of the Global Hearing Aid Devices market.

Key Players: William Demant Holding A/S, Sonova Holding AG, GN Store Nord A/S, Sivantos Pte. Ltd., Widex A/S and other predominate & niche players.

Competitive Analysis: The Global Hearing Aid Devices market is highly fragmented with the presence of large as well as small and medium vendors. The advances in technology and product upgradation will increase the competition among vendors. The market is highly dynamic with the presence of few big players accounting for more than half of the revenue generated worldwide.

Benefits: The report provides complete details about the usage and adoption rate of hearing aid devices in the end users and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player's initiatives, government initiatives towards the hearing aids treatment adoption in the upcoming years along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market.

Table of Contents

1 Industry Outlook 8

1.1 Industry Overview 8

1.2 Industry Trends 9

1.3 PEST Analysis 10

2 Report Outline 10

2.1 Report Scope 10

2.2 Report Summary 11

2.3 Research Methodology 12

2.4 Report Assumptions 12

3 Market Snapshot 13

3.1 Total Addressable Market (TAM) 13

3.2 Segmented Addressable Market (TAM) 14

3.3 Related Markets 15

3.3.1 Ear and Nasal Packing 15

3.3.2 Auditory Brainstem Implant 15

3.3.3 Sinus Dilation Devices 15

4 Market Outlook 16

4.1 Overview 16

4.2 Regulatory Bodies & Standards 16

4.3 Porter 5 (Five) Forces 17

5 Market Characteristics 18

5.1 Evolution 18

5.2 Roadmap 21

5.3 Market Dynamics 21

5.3.1 Drivers 22

5.3.1.1 Increasing Prevalence of Hearing Loss 22

5.3.1.2 Increase in Online Sales of Hearing Aid Devices 23

5.3.1.3 Increasing Demand for Binaural Hearing Aids 23

5.3.1.4 Demand for Invisible and Water Resistance Hearing Aid Devices 23

5.3.2 Restraints 24

5.3.2.1 Expensive Pricing of Hearing Aid Products 24

5.3.2.2 Challenges Related to Hearing Aid Batteries 25

5.3.2.3 Lack of Awareness Regarding Hearing Loss in Developing Countries 26

5.3.2.4 Restrictions Related to Reimbursement Policies 26

5.3.3 Opportunities 26

5.3.3.1 Introduction of Innovative Hearing Aid Devices 26

5.3.3.2 3D Printing Technology for the Production of Hearing Aid Devices 27

5.3.3.3 Internet Connected Hearing Aids 28

5.3.3.4 Hearing Aids Banks in Australia 28

5.3.4 DRO-Impact Analysis 29

6 Trends, Roadmap and Projects 29

6.1 Market Trends & Impact 29

6.2 Technology Roadmap 29

7 Types: Market Size and Analysis 31

7.1 Overview 31

7.2 Hearing Aid Market by Hearing Aid Product Segmentation 32

7.2.1 Hearing Aid Devices Segmentation 33

7.2.2 Hearing Implants Segmentation 35

7.3 Hearing Aid Market by End-User segment 37

8 Regions: Market Size and Analysis 38

8.1 Overview 38

9 Vendor Scenario 40

10 Vendor Profiles 46

10.1 Sonova Holding AG 46

10.1.1 Overview 46

10.1.2 Business Unit 48

10.1.3 Geographic Revenue 49

10.1.4 Recent Developments 50

10.1.5 SWOT Analysis 51

10.1.6 Business Strategies 52

10.2 William Demant Holding A/S 52

10.2.1 Overview 52

10.2.2 Business Unit 53

10.2.3 Geographic Revenue 55

10.2.4 Recent Developments 56

10.2.5 SWOT Analysis 57

10.2.6 Business Strategies 57

10.3 Sivantos Pte. Ltd. 58

10.3.1 Overview 58

10.3.2 Recent Developments 59

10.3.3 SWOT Analysis 59

10.3.4 Business Strategies 60

10.4 GN Store Nord A/S 60

10.4.1 Overview 60

10.4.2 Business Unit 61

10.4.3 Geographic Revenue 63

10.4.4 Recent Developments 64

10.4.5 SWOT Analysis 65

10.4.6 Business Strategies 66

11 Global Generalist 66

11.1 Widex A/S 66

11.1.1 Overview 66

11.1.2 Recent Developments 68

11.1.3 Widex A/S in 2015 68

11.2 Starkey Hearing Technologies Inc. 69

11.2.1 Overview 69

11.2.2 Recent Developments 70

11.3 Amplifon SpA 71

11.3.1 Overview 71

11.3.2 Geographic Revenue 72

11.3.3 Recent Developments 73

11.3.4 SWOT Analysis 73

Annexure 75

Abbreviations 75

To know more information on Purchase by Section, please send a mail to sales@kenresearch.com

Charts

CHART 1 PEST ANALYSIS OF HEARING AID MARKET 10

CHART 2 RESEARCH METHODOLOGY OF GLOBAL HEARING AID DEVICES MARKET 12

CHART 3 GLOBAL HEARING AID MARKET REVENUE, 2016-2023 (USD BILLION) 14

CHART 4 PORTER 5 FORCES ON GLOBAL HEARING AID DEVICES MARKET 17

CHART 5 REGIMEN ROADMAP OF HEARING AID 21

CHART 6 MARKET DYNAMICS-DRIVERS, RESTRAINTS & OPPORTUNITIES 21

CHART 7 TYPICAL HEARING AID PRICING MODEL (IN DOLLARS) 24

CHART 8 DRO-IMPACT ANALYSIS OF HEARING AID MARKET 29

CHART 9 TECHNOLOGY ROADMAP FOR HEARING AID MARKET 29

CHART 10 HEARING AID MARKET SEGMENTATION 31

CHART 11 GLOBAL HEARING AID MARKET SEGMENTATION BY HEARING AID PRODUCT, 2016 31

CHART 12 HEARING AID DEVICES MARKET SEGMENTATION 32

CHART 13 GLOBAL HEARING AID DEVICES MARKET REVENUE, 2016-2023 (USD BILLION) 32

CHART 14 GLOBAL HEARING AID DEVICES MARKET SEGMENTATION, 2016 34

CHART 15 HEARING IMPLANT MARKET SEGMENTATION 34

CHART 16 GLOBAL HEARING IMPLANT MARKET REVENUE, 2016-2023 (USD BILLION) 35

CHART 17 GLOBAL HEARING IMPLANT MARKET SEGMENTATION, 2016 36

CHART 18 GLOBAL HEARING AID MARKET BY END-USER SEGMENTATION, 2016 37

CHART 19 SONOVA HOLDING AG: OVERVIEW SNAPSHOT 47

CHART 20 SONOVA HOLDING AG: BUSINESS UNITS 48

CHART 21 SONOVA HOLDING AG: GEOGRAPHIC REVENUE (IN %) 49

CHART 22 SONOVA HOLDING AG: GEOGRAPHIC REVENUE (IN %) IN 2015 50

CHART 23 SONOVA HOLDING AG: SWOT ANALYSIS 51

CHART 24 WILLIAM DEMANT HOLDING A/S: OVERVIEW SNAPSHOT 53

CHART 25 WILLIAM DEMANT HOLDING A/S: BUSINESS UNITS 53

CHART 26 WILLIAM DEMANT HOLDING A/S: GEOGRAPHIC REVENUE 55

CHART 27 WILLIAM DEMANT HOLDING A/S: GEOGRAPHIC REVENUE (IN %) IN 2015 55

CHART 28 WILLIAM DEMANT HOLDING A/S: SWOT ANALYSIS 57

CHART 29 SIVANTOS PTE. LTD.: OVERVIEW SNAPSHOT 58

CHART 30 SIVANTOS PTE. LTD.: SWOT ANALYSIS 59

CHART 31 GN STORE NORD A/S: OVERVIEW SNAPSHOT 61

CHART 32 GN STORE NORD A/S: BUSINESS UNITS 61

CHART 33 GN STORE NORD A/S: GEOGRAPHIC REVENUE 63

CHART 34 GN STORE NORD A/S: SWOT ANALYSIS 65

CHART 35 WIDEX A/S: OVERVIEW SNAPSHOT 67

CHART 36 STARKEY HEARING TECHNOLOGIES INC.: OVERVIEW SNAPSHOT 69

CHART 37 AMPLIFON SPA: OVERVIEW SNAPSHOT 72

CHART 38 AMPLIFON SPA: GEOGRAPHIC REVENUE 72

CHART 39 AMPLIFON SPA: SWOT ANALYSIS 73

Tables

TABLE 1 KEY VENDORS IN THE GLOBAL HEARING AIDS MARKET 41

TABLE 2 BRANDS AND OFFERINGS 42

TABLE 3 SONOVA HOLDING AG: RECENT DEVELOPMENTS 50

TABLE 4 WILLIAM DEMANT HOLDING A/S: RECENT DEVELOPMENTS 56

TABLE 5 SIVANTOS PTE. LTD.: RECENT DEVELOPMENTS 59

TABLE 6 GN STORE NORD A/S: RECENT DEVELOPMENTS 64

TABLE 7 WIDEX A/S: RECENT DEVELOPMENTS 68

TABLE 8 STARKEY HEARING TECHNOLOGIES INC.: RECENT DEVELOPMENTS 70

TABLE 9 AMPLIFON SPA: RECENT DEVELOPMENTS 73

Sonova Holding AG,William Demant Holding A/S,Sivantos Pte Ltd,GN Store Nord A/S,

Widex A/S,Starkey Hearing Technologies Inc and Amplifon SpA.


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