LAS VEGAS, October 17, 2017 /PRNewswire/ --
Market Description The Global Hearing Aids Market was evaluatedover USD 4.17 billion in 2016 and is anticipated to reach approximately USD 6 billion by 2025, while registering a compound annual growth rate (CAGR) of 4.13% over the forecast period. Hearing
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Global Market Research Report Overview on Hearing Aids Market @ http://www.crystalmarketresearch.com/report/hearing-aids-market.
Driver and Restraints of Hearing Aids Market According to National Institute on Deafness and Other Communication Disorders (NIDCD), over 37.5 million American people who are more than 18 years old have hearing disabilities. Therefore, increasing prevalence along with rising geriatric population is driving the requirement for hearing aids, as people with this age group are more vulnerable to developing hearing disabilities. The expansion of hearing aids market can also be assigned to technological innovations in the hearing aids like miniaturization, superior connectivity, improved listening and elevated product efficiency. In 2016, Europe region held a significant i.e., around one-third of the global market share. This is mainly owing to a variety of factors like the growing occurrence of deafness and hearing disabilities along with the rapidly rising elderly population, augmented acceptance of technologically innovative hearing solutions, and increased buying ability of the patients. Asia Pacific region is expected to show lucrative market growth during the projected period, owing to the accessibility of unsaturated and untapped markets along with rising hearing aids demand. Speedy monetary development combined with rising awareness levels among patients, is a key opportunity for the players in the hearing aids market.
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Competitors and Market Classification The major market players in the global hearing aids market are; Sonova Holding AG, Sivantos Pte Ltd, William Demant Holdings A/S, GN Store Nord A/S, and Starkey Hearing Technologies. According to products types, the global market is divided into; In-The-Ear Hearing Aids, Behind-The-Ear Hearing Aids, Receiver-In-The-Ear Hearing Aids and Canal Hearing Aids. On the basis of Technology, the market industry is split as; Aquaculture: Analog Hearing Aids and Digital Hearing Aids. Geographically, the global hearing aids market is segmented in regions which are; Europe (Germany, Spain, Italy, France, UK and Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), North America (the United States, Mexico and Canada) and Rest of the World (Brazil, Saudi Arabia, South Africa, United Arab Emirates and Others).
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SOURCE Crystal Market Research
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