Analysts at Ken Research in their latest publication “Global
Hearing Aid Market
Outlook to 2023 - By Hearing Aid Devices (By Ear and By Canal) and Hearing
Implants (Cochlear implants and Hearing implants), By Region (Americas, Europe,
Asia-Pacific and RoW), By Type of Distribution channel (Audiology & ENT
clinics, Hospitals and Pharmacies)”believed that the Global
Hearing Aid market will increase due to rising number of hearing loss patients,
increasing personal disposable income, growing demand for artificial
intelligence coupled with increasing technological up-gradations in the hearing
aid devices.
Key
Findings
In Future, it is anticipated that revenue
share of Cochlear Implants will reach to 85.0% by 2023E from 80.5% in 2018.
This is largely due to the increasing number of reimbursement policies and
tender programs by the Government.
Per Capita health expenditure in US has
been rising over the years and is anticipated to reach from USD 10,708 in 2018
to USD 12,449 by 2023E. The rising health expenditure would lead to the higher
adoption among the hearing loss patients.
The rising awareness about hearing aid devices and implants,
increasing government reimbursement policies, growing demand for Artificial
Intelligence and Rising number of hearing loss patients are the major favorable
factors driving hearing aid sales.
Rising demand for Artificial
Intelligence: Artificial Intelligence
in hearing aid market at global level is rising. Global Hearing Aid
market is a technology driven market wherein Artificial Intelligence in Hearing
Aid Devices and Hearing Implants is expected to take larger share in the coming
future. AI employs machine learning that moves beyond simple decision-making to
assist the individual by using data from around the world to benefit to
optimize the users hearing experience. Artificial Intelligence in hearing
implants has been employed in such a way that it can predict language
development in deaf children using cochlear implants. A machine-learning
algorithm used pre-cochlear implant surgery MRI scans to detect abnormal brain
development with a high degree of accuracy, specificity and sensitivity.
Product
Launches and Technological Advancements: Technological developments in
hearing aid devices and advancements in implants have driven the hearing aid
market over the years. Technologies such as build-in sensors, wherein the
device have more healthcare features with better chances of higher performance
due to multiple build-in sensors and micro-electronic device that include the smaller
devices equipped powerfully with more features such as longer battery stand
time, rechargeable batteries and connectivity. For instance, Livio AI by
Starkey Hearing Technologies.
Increasing
Number of Private Insurers and Dispensers: Increasing number of dispensers
would enhance convenience to hearing loss patients and increasing number of
private insurers through partnerships and acquisitions would increase the
revenue of hearing aid market in near future. For instance, the organization
such as Japan Hearing Aid Dispensers Association has helped in the adoption of
hearing aid devices among hearing impaired individuals.
The market is expected to register a positive CAGR of 5.4% in
terms of revenue during the forecast period2018-2023E.
Key
Segments Covered
By
Type of Hearing Aid
Hearing Aid Devices
Hearing Implants
By
Region
Americas
Europe
Asia-Pacific
RoW
By
Type of Distribution Channel
Audiology and ENT Clinics
Hospitals
Pharmacies
By
Type of Hearing Aid Devices
By Ear
By Canal
By
Type of Hearing Implants
Cochlear
BAHA
By
Hearing Implants in Region
Americas
Europe
Asia-Pacific
RoW
By
Ear type of Hearing Device
BTE
RIC
ITE
By
Canal type of Hearing Device
IIC and CIC
ITC
By
Hearing Aid Devices in Region
Americas
Europe
Asia-Pacific
RoW
Key
Target Audience
Hearing Aid Manufacturing Companies
International Manufacturers
Domestic Manufacturers
Private Equity Investors
Hospitals and ENT clinics
Government/ Regulatory Authorities
Time
Period Captured in the Report:
Historical
Period: 2013-2018
Forecast
Period: 2019E -2023E
Companies
Covered:
Sonova Holdings
William Demant Holdings
GN Hearing
Widex
Sivantos
Starkey Hearing Technologies
Cochlear Limited
MED-EL
Rion Co. Ltd.
Zounds Hearing Inc.
Audina Hearing instruments
Microson
NewSound Hearing Aids
Key Topics Covered in the
Report
Global Hearing Aid Market
Overview and Genesis
Global Hearing Aid Market
Size, 2013-2018
Global Hearing Aid Market
Ecosystem
Global Hearing Aid Market
Value Chain Analysis
Global Hearing aid
devices and Hearing Implants Pricing Analysis
Global Hearing Aid Market
Size by Revenue (2013-2018)
Global Hearing AidMarket
Segmentation (2018)
Global Hearing Aid Market
Segmentation by Type (Hearing Aid Devices and Hearing Implants)
Global Hearing AidDevices Market Segmentation by type (By
Ear and By Canal).
Global Hearing Aid
Devices Market Segmentation by Ear type (ITE, BTE and RIC).
Global Hearing Aid
Devices Market Segmentation by Canal type (IIC, CIC and ITC).
Global Hearing Aid
Devices Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW).
Global Hearing Implants Market
Segmentation by Type (Cochlear and BAHA).
Global Hearing Implants Market
Segmentation by Region (Americas, Europe, Asia-Pacific, RoW).
Global Hearing Aid Market
Segmentation by Distribution Channel (Audiology & ENT clinics, Hospitals
and Pharmacies)
Global Hearing Aid Market
Trends and Developments
Global Hearing Aid Market
Snapshot of Major Countries in, 2013-2018
Global Hearing Aid Market
Government Regulations, Certification and Labeling Practices
Global Hearing Aid Market
Investment Scenario
Global Hearing Aid Market
Mergers and Acquisitions of the companies, 2013-2018
Global Hearing Aid Market
Trends and Developments
Global Hearing Aid
Industry Porter’s Five Forces
Global Hearing Aid Market
Competitive Landscape
Global Hearing Aid Market
Company Profile of Major Players
Global Hearing Aid Market
Future Outlook and Projections, 2018-2023E
Global Hearing Aid Market
Future Outlook and Projections,2018-2023E
Analyst Recommendations
The report provides
information on medical device market segment (by type of medical device, by
type of medical consumables, by end user and by procurement), competitive
landscape of major medical device manufacturers and distributors including Indo
Health Medical, PT Andini Sarana, PT Trimitra Garmedindo Interbuana, PT Mega
Andalan Kalasan, GE Healthcare, Siemens, Indonesia, Philips, Indonesia,
Samsung, Hitachi, PT Mensa Bina Sukses, PT Transmedic Indonesia, PT Surgika
Alkesindo, PT Daya Inti Kurnia Abadi, and Citra Medika Lestari. The report
concludes with market projection for future highlighting the major
opportunities and cautions.
The growing number of hospitals or other health centers in Indonesia has
led to the rising demand for medical equipment. Indonesia medical device market
is highly regulated with stringent import regulations even though it heavily
relies on imports. This is due to lack of established local manufacturer. The
demand has increased majorly for diagnostic imaging, medical consumables,
aesthetic, orthopedic and dental products. This is driven by increased
healthcare spending and rising awareness about different treatment methods.
Philippines Medical Devices Market
Outlook to 2023 - Surge in Demand for Used/Refurbished Medical Equipments and
New Healthcare Infrastructure Projects to Maintain Healthy Growth
The report provides a
comprehensive analysis on the medical devices market in Philippines. The report
covers a brief introduction of the medical devices market in the country, value
chain analysis of the market, the overall size of the market in terms of
revenue; market segmentation on the basis of business activity, mode of sales,
type of medical devices, end users and regions; decision making process and
pain points encountered by end users in the industry, trends and developments,
issues and challenges, porter’s forces analysis, regulatory environment of the
industry; competitive landscape including competition stage, competition
parameters and company profiles of major players. The report concludes with
market projections and analyst recommendations highlighting the major
opportunities and cautions for existing players and new entrants in the
industry.
Philippines Medical Device
market is at the growing stage. Philippines Medical Device market in terms of
revenue has increased at a positive CAGR during the period 2013-2018.
Philippines heavily rely on imports for medical devices and local production is
limited to prototype units and disposables such as surgical gloves, syringes,
and needles. The market is price-sensitive and major factors impacting demand
are population growth, increase in geriatric population, steady economic growth
at 6.7% (2017), and hospital expansion and up-gradation.
Vietnam
Medical Devices Market Outlook to 2022 - By Equipments (Consumables, Diagnostic
Imaging, Dental Products, Orthopedics and Prosthetics, Patient Aids and Other
Medical Devices)
The report provides a
comprehensive analysis of Vietnam Medical Devices Market Overview and Size,
growth drivers and restraints. The report also provides data points on Vietnam
Medical Devices market by Application (Orthopedic and Prosthetic Applications,
Diagnostic Imaging Equipment, Paraclinical Equipment, Emergency Medical
Equipment, Operation Room Equipment and Others), by Material (Textile Products,
Electronic Products, Plastic Products, Rubber Products and Other Products), by
Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopaedics and
Prosthetics, Patient Aids and Other Medical Devices) and by End Users
(Government Funded Hospitals, Local Private Hospitals, Foreign Owned Hospitals
and Medical Education, Research Institution and Others) along with company
profiles of Japan Vietnam Medical, Danameco, Armephaco, B Braun, Shimadzu,
General Electric, Terumo BCT and Phillips. The report also covers SWOT
Analysis, Roadmap for Tender Application for Medical Device Company in Vietnam,
Regulatory Process, import by value and destination, Vietnam Medical devices
competitive landscape, Analyst Recommendations and future outlook.
Singapore
Medical Devices Market Outlook to 2022 - by Type of Medical Device
(Consumables, Diagnostic Imaging, Patient Aids, Orthopedic & Prosthetics,
Dental Products and Others)
The report covers aspects
such as medical device market segment (by type of medical device, and by end
users), competitive landscape of major players in the Singapore medical device
market, and covering competitive landscape of major medical device
manufacturers and distributors including QT Vascular, Biosensors International,
Becton Dickinson, Optimal Medical Products Pte Ltd, B. Braun Singapore Pte Ltd,
Alcare Pharmaceuticals, and Kingston Medical Supplies Pte Ltd. The report
concludes with market projection for future highlighting the major
opportunities and cautions.
Singapore Medical device
revenue increased at a double digit CAGR during 2012-2017. The market is in the
growing stage with rise in number of foreign players. This was driven by
expansion of healthcare institutions and increased demand for home care devices
such as Elderly Care -Monitoring Systems (sensors at home, applications, and
wearable devices). Singaporeans’ strong demand for better healthcare creates an
excellent market for foreign medical device companies, who supply more than 85%
of the country’s devices. Leading importers include the US, Germany and Japan.
At present, more than 60% of products imported into Singapore are subsequently
re-exported.
Kuwait Medical
Device Market Outlook to 2022 - By Type (Diagnostic Imaging Products, Medical
Disposables, Auxiliary Devices, Orthopedic Devices, Dental Products, Aesthetic
Devices, Diabetic Products and Others)
The report covers
various aspects including introduction, market size, competition, market
segmentation by end user (Public Sector and Private Sector), by type of medical
devices (Diagnostic Imaging Products, Medical Disposables, Auxiliary Devices,
Orthopedic Devices, Dental Products, Aesthetic Devices, Diabetic Products and
Others), growth drivers, restraints, key regulations future outlook and analyst
recommendation. The report is useful for manufacturers, AI companies,
distributors, system integrators, hospitals, diagnostic labs, doctors, end
users, government, pharmacies and potential entrants and other stakeholders to
align their market centric strategies according to ongoing and expected trends
in the future.
Kuwait medical device
market is in its late growth stage (based on distributor model) and has a
limited number of large players dominating the market. The medical devices
market in Kuwait is completely import driven dominated by international brands.
The medical devices market in Kuwait has witnessed growth owing to the
increased participation of private players in healthcare sector. Technological
innovations and increased focus on infrastructure development has also resulted
in increased demand of medical devices in Kuwait. Heavy investments in
infrastructure projects are driving the growth in Kuwait. Increase in number of
chronic diseases has resulted in increase in demand of healthcare facilities in
the country. The end users of medical devices are government as well as private
sector hospitals, clinics and primary care centers.
For more
information, refer to below link:
Related Reports
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Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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