According to a study by WHO, more than 5% of
the global population suffers from hearing impairment, about 15% of the global
population suffers from a kind of hearing loss. The report shows that most of
this population belongs to the developing nations. More than a third of the
elderly population suffers from hearing disability. Hearing disabilities leads
to mental distress and agony, loneliness and frustration especially among the
older population.
The global market for hearing aids is growing
due to the unmet needs of the population. Technological development in the
market has led to innovation in the market by embedding the device in the year
and making them invisible. This has been developed to remove the social stigma
revolved around hearing aids. Further, digital signal processing has been
introduced in the market along with digital noise reduction and speech
enhancement technology.
The report “Global Hearing Aid Market-Technologies, Market Share And
Industry Forecast to 2024”
gives a detailed report on the global market of hearing aids. The report
includes Hearing Aids market, market research report, market share, market
analysis, market trends and market forecast 2017-2024. The top players in the global market are Arphi
Electronics (India), Audina Hearing Instruments (U.S.), Cochlear Limited
(Australia), Gn Store Nord (Denmark), Horentek (Italy), Med-Ei (Denmark),
Microson (Spain), Rion (Japan), Sebotek Hearing Systems, Inc (U.S.), Siemens
(Germany), Sonova (Switzerland), Starkey Hearing Technologies. Inc (U.S.),
Widex (Denmark), William Demant (Denmark) And Zounds Hearings Inc, (U.S.). This
report will help in making strategic business decisions through competitors’
analysis for the new entrants.
The companies use multiple channels to market
their aids like company – owned stores, hearing aids clinic, Big Box retailers
and government agencies, with the big retailers more profitable owning to their
purchasing power and wide spread presence across the cities. Many of the new entrants in the market offer
the consumer with low costs, accessibility whenever their
situation and needs warrant it. But if the market is disrupted, these entities
can provide comprehensive case history and review of systems, the photocopy,
speech – in – noise testing, aural rehabilitation and hands – on – hearing aid
fitting. Disruptive entities can and will soon offer these features in their
products.
The global hearing aid market
is expected to grow at a CAGR of 6.3% during the forecast period of 2017-2024. Geographically,
Europe dominated the market due to high purchasing power and rising greying
population.
For more information on the research
report, refer to below link:- https://www.kenresearch.com/healthcare/medical-devices/global-hearing-aid-market/171808-91.html
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