Hearing Aids Market Expected to Reach USD 9.07 Billion by 2022 - Scalar Market Research
CHICAGO, November 28, 2016 /PRNewswire/ --
According to the latest market research report, "Hearing Aids Market, by Products (Hearing AID Devices and Hearing Implants), End-Users (Adults and Pediatrics) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", published by Scalar Market Research, the global hearing aids market is expected to reach USD 9.07 billion by the year 2022, growing at a CAGR of 6.20% from 2016 to 2022. The hearing aids market is expected to be worth USD 6.33 billion in the year 2016.
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The global hearing aids market report offers in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key players, premium insights, technology trends and forecast to 2022. It also focuses on the key drivers and opportunities in this market.
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Key findings of the report:
- The hearing aids market is expected to grow at a healthy rate with a strong rise in demand and the rapid technological advancements.
- Introduction of the innovative devices such as the hearing aids with wireless technologies are expected to create major growth opportunities for the key market players.
- The increasing incidences of hearing loss and the consistent growth in the geriatric population are also expected to be some of the most significant growth drivers for the global hearing aids market during the forecast period.
Behind-the-ear hearing aids expected to hold the largest market share
According to the report, the behind-the-ear hearing aids are expected to dominate the types segment of the global hearing aids market based on the overall market share. The receiver-in-the-ear hearing aids are expected to grow at the fastest rate during the forecast period. Growth in demand for the technologically advanced hearing aids is expected to be one of the major drivers for these products in the global market.
Europe is expected to be the largest market based on overall share
According to the hearing aids market report, the Europe region is expected to hold the largest share in the global market. The Asia-Pacific region, on the other hand, is expected to grow at the fastest growth rate in the years to come. The rapid rise in demand, growth in the cases of hearing loss, and the rising number of geriatric populations are some of the major drivers for this market.
Key Benefits of the Report:
- The report provides quantitative analysis of the current and future growth estimations to highlight the revenue trends in the hearing aids market
- The report provides clear understanding of the roles of the key players and stakeholders involved in the market growth during the forecast period
- The report focuses on the in-depth analysis of the major drivers, restraints, challenges, and opportunities for the global hearing aids market
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The hearing aids market report provides analysis of the key players, including:
- Cochlear Ltd.
- GN Store Nord A/S
- Siemens AG
- Savants Pte. Ltd.
- Sonova Holding AG
- Starkey Hearing Technologies
- Widex A/S
- William Demant Holding A/S.
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