Global Hearing aids market is expected to reach a healthy CAGR of 10.3% in the forecast period of 2019 to 2026.
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The rising hearing disabilities among adults and paediatrics are one of the leading concerns in the healthcare industry. Thus, the need for developed hearing aid devices are increasing as many remains untreated, mainly among infants, which would further lead to psychological disabilities and speaking impairment among them
Global Hearing Aids Market By Product (Hearing Aid Devices, Hearing Implants), Device type (Digital Hearing Aids, Analog Hearing Aids), Type of Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss), Patient Type (Adults, Pediatrics), Distribution Channel (Large Retail Chains, Manufacturer Owned Retail Chains, Public, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa – Industry Trends and Forecast to 2026
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.
- 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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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.
The company was founded in 1947, headquarter in Switzerland. The company is involved in innovating and manufacturing of hearing solutions. The main business segments of the company are Hearing instrument segment and cochlear implants segment. The revenue of the company is USD 2799.2 Million. Number of employees is 14238. The company has global presence in EMEA, Americas, and Asia Pacific
- In January 2018, 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 recognition.
WILLIAM DEMANT HOLDING A/S
The company was founded in 1904, headquarter in Denmark. Company is involved in providing. The company is involved in offering various products for the optimal solution of the users. The main business segments of the company are as hearing devices, diagnostic instruments, hearing implants and personal communication. The revenue of the company is USD 2215.30 Million. Number of employees is 13280. The company has global presence in Americas, Europe, Asia-Pacific, other countries
- 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.
Sivantos PTE Ltd. was founded in 1878 and headquartered in Singapore, The Company provides the hearing aids of different brands such as Signia, A&M, Audio Service and Rexton, The main business segments of the company is hearing aids. The revenue of the company is USD 1299.1 Million. The company has global presence in France, Germany, U.S., Canada, Brazil, South Africa, India, China, Netherlands, Poland, UK and others.
- 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.
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