Hearing Aids Market Analysis, Growth Trends, And Segment Forecasts, 2012 To 2020

The market for hearing aids can be segmented on the basis of the type of hearing loss they are used to treat which are: Conducive, Sensorineural and Mixed hearing loss.For the conducivehearing losses, the treatments offered are bone conduction and bone anchored hearing implants while for Sensorineural hearing loss there is a separate range of products in the market consisting of inner canal and cochlear hearing implants. For Mixed hearing losses there is another segment which combines the use of hearing aids and surgical implants. Apart from application the market can also be divided as: Behind the ear, In the canal, In the ear, Receiver-in-canal, Invisible in canal segments based on the position of end use.

The global market for hearing aids has witnessed an increasein market potential as a consequence of expanding ageing population. The recent growth response in the industry has been due to the technological innovation which incorporated Bluetooth integration with hearing aids applications. Further technological advancement in the designs integrating with greater functionality will steer industry growth as more numbers of users will also get attracted.

Besides some significant market drivers for the hearing aids’ industry; there are still some restraining forces for the industry players which pose challenges to the current scenario. The major challenge includes significant amount of consolidation has taken place for the manufacturing capabilities. There has been a high consolidation rearrangement in this market which has led: Sonova, William Demant Holding, Siemens, GN ReSound and StarKey to be the major competitors for hearing aid manufactures across the world.

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