Global Hearing aids market is expected to reach a healthy CAGR of 10.3% in the forecast period of 2019 to 2026.
The hearing aids report encompasses market definition, currency and pricing, market segmentation, market overview, premium insights, key insights and company profile of the key market players. It provides the supreme base for the competitor analysis, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market and ENT device industry. This hearing aids market report offers a profound overview of product specification, technology, product type and production analysis by taking into account most important factors such as Revenue, Cost, Gross and Gross Margin. Hearing aids market research report provides myriad of benefits for a prosperous business.
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Competitive Analysis: Global Hearing Aids Market
Some of the major players operating in this market are WIDEX A/S, GN Store Nord A/S, Sonova, Sivantos Pte. Ltd, Microson, Horentek, RION CO. Ltd, William Demant Holding A/S, Amplifon, Starkey, MED-EL Medical Electronics, Cochlear Ltd., SeboTek Hearing Systems, LLC., Audina Hearing Instruments, Inc., Arphi Electronics Private Limited, Zounds Hearing and many others.
Drivers : Global Hearing Aids Market
Rising cases of hearing loss and disorders
Continuous development of the digital hearing aids
High cost of hearing aids
Uncomfortable buzzing and amplification issues in hearing aid products
Growing demand of the cochlear implants
Investments and business expansion to develop advanced innovative hearing aids
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Segmentation: Global Hearing Aids Market
Global hearing aids market is segmented into five notable segments which are product, device types, type of hearing loss, patient type and distribution channel.
On the basis of product, the market is segmented into hearing aid devices and hearing implants.
In February 2018, In February, SONOVA and the brands of the company together Phonak and Advanced Bionics announced the introduction of new MultiBeam Technology a microphone technology used in the hearing aid and provides the better hearing capability in the noise and provides better speech recognization
On the basis of device types, the market is segmented into digital hearing aids and analog hearing aids.
In August 2018, William Demant Holding A/S and Koninklijke Philips N.V. (Netherlands) entered into a partnership in hearing healthcare. This strategy would help the company to expand their company and enhance the customer base
On the basis of type of hearing loss, the market is segmented into sensorineural hearing loss and conductive hearing loss.
In December 2018, Sivantos Pte. Ltd announced the strategic partnership with Clearwater Clinical Limited (Canada). The partnership will expand the audiologists with innovative audiometer improves customer experience
On the basis of patient type, the market is segmented into adults and pediatrics.
In January 2019, GN STORE NORD A S (Denmark), announced the launch of hearing solution which can adapt the hearing aid users and their preferences in any sound environment. GN’s artificial intelligence (AI) solution provides virtual assistance. The launch of the solution assures the safety and helps customers to meet their challenges and need
On the basis of distribution channel, the market is segmented into large retail chains, manufacturer owned retail chains, public and others.
In January 2019, Starkey Hearing Technologies unveiled three new revolutionary advancements within the Livio AI technology such as Fall Detection & Alerts, Thrive Virtual Assistant and Heart Rate Measurement. This strategy helped in the expansion of product portfolio and in the product development of the company.
In June 2018, Cochlear Limited announced the launch of nucleus smart app for android smartphone users in order to provide greater connectivity to the people along with a nucleus 7 sound processor. This strategy would help in the product development and would also help in increasing the customer base.
Arphi Electronics Private Limited launched G4 hearing systems with automatic functions that can be optimized audiologically depending on the hearing situation. This strategy would help in the expansion of the product portfolio of the company.
Audina introduced the all new Arro Family products of Receiver in Canal devices which offer next generation hearing technologies in a compact-case design. This would help in the expansion of the product portfolio of the company.
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