Hearing Aids Market

Hearing Aids Market Share & Analysis – Industry Overview

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-13582
  • Published Date: Aug, 2024
  • Pages: 236
  • Category: Healthcare
  • Format: PDF
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Segment Analysis

Regional segmentation analysis

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe emerged as the largest market for the global hearing aids market, with a 38.3% share of the market revenue in 2023.

Europe region will account for the largest market share with revenue growth. This factor is due to the surge in Europe's ageing population and growing incidences of hearing loss in the region. Based on age, changes in the peripheral and central auditory systems have led to hearing impairment. Also, there are favourable reimbursement policies in the region. Some countries, such as the UK and Denmark, cover the cost of hearing aids and related services. There are many reimbursement rates for end users, like accessories, hearing aid, examination, fitting of the hearing aid, and follow-up, among others. Also, Germany, UK and France are considered some of the largest markets in Europe.

Europe Region Hearing Aids Market Share in 2023 - 38.3%

 

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  • For instance, in 2018, around 90% of the hearing aid sales in Switzerland were BTE (Behind-The-Ear) or mini BTE hearing aids. Around 30 different brands and 2,700 models of hearing aids that were approved in the Swiss market. These are sold at pharmacies, hearing aid specialists and drug stores.

Product Segment Analysis

The product segment is divided into hearing aid devices and hearing implants. The hearing aid devices segment dominated the market, with a market share of 78.7% in 2023. It is because, conventionally, behind-the-ear (BTE) hearing aid has been the largest used hearing aid. Its new mini designs are also available in the market. Many hearing aid devices are also on the market, like in-the-canal hearing aid etc. In-the-canal is not much visible. Similarly, completely in the canal, a hearing aid is the smallest and least visible type. It uses small batteries.

Patient Type Segment Analysis

The patient type segment is divided into adults and pediatrics. The adults segment dominated the market, with a market share of 82.6% in 2023. This factor is due to the growing demand for over-the-counter hearing aids as they are more accessible and affordable to people. These are more useful for people aged 18 and above who generally suffer from mild to moderate hearing impairment. The severe hearing impairment that generally is the case with the pediatric population is still the prescription devices, which are expensives. 

Distribution Channel Segment Analysis

The distribution channel segment is divided into Audiology and ENT Clinics, hospitals and pharmacies. The Audiology and ENT Clinics segment dominated the market, with a market share of 51.3% in 2023. Audiologists and ENT clinics evaluate and tackle hearing problems. Audiologists have lots of training and experience in this field. Audiologists and ENT clinics assess the hearing and based on that, advise people on their options. However, audiologists could perform more range of tests and treatments and then recommend hearing aid and other options.

1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product
          4.3.2. Market Attractiveness Analysis By Patient Type
          4.3.3. Market Attractiveness Analysis By Distribution Channel
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Demand for hearing aid products
    5.3. Restraints
          5.3.1. High Price
    5.4. Opportunities
          5.4.1. The surge in the aging population
    5.5. Challenges
          5.5.1. Economic slowdown

6. Global Hearing Aids Market Analysis and Forecast, By Product
    6.1. Segment Overview
    6.2. Hearing Aid Devices
    6.3. Hearing Implants

7. Global Hearing Aids Market Analysis and Forecast, By Patient Type
    7.1. Segment Overview
    7.2. Adults
    7.3. Pediatrics

8. Global Hearing Aids Market Analysis and Forecast, By Distribution Channel
    8.1. Segment Overview
    8.2. Audiology and ENT Clinics
    8.3. Hospitals
    8.4. Pharmacies

9. Global Hearing Aids Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Hearing Aids Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Hearing Aids Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Sonova
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Demant A/S
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Phonak
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. GN Store Nord A/S
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Widex USA, Inc.
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Benson Hearing
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. WS Audiology
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Starkey
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. MED-EL (Medical Electronics)
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Cochlear Ltd
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. RION Co., Ltd.
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Sivantos Pte LTD
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis

List of Table

1. Global Hearing Aids Market, By Product, 2020-2033 (USD Billion)

2. Global Hearing Aid Devices, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

3. Global Hearing Implants, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

4. Global Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion) 

5. Global Adults, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

6. Global Pediatrics, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

7. Global Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion) 

8. Global Audiology and ENT Clinics, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

9. Global Hospitals, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

10. Global Pharmacies, Hearing Aids Market, By Region, 2020-2033 (USD Billion) 

11. North America Hearing Aids Market, By Product, 2020-2033 (USD Billion)

12. North America Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

13. North America Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

14. U.S. Hearing Aids Market, By Product, 2020-2033 (USD Billion)

15. U.S. Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

16. U.S. Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

17. Canada Hearing Aids Market, By Product, 2020-2033 (USD Billion)

18. Canada Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

19. Canada Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

20. Mexico Hearing Aids Market, By Product, 2020-2033 (USD Billion)

21. Mexico Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

22. Mexico Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

23. Europe Hearing Aids Market, By Product, 2020-2033 (USD Billion)

24. Europe Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

25. Europe Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

26. Germany Hearing Aids Market, By Product, 2020-2033 (USD Billion)

27. Germany Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

28. Germany Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

29. France Hearing Aids Market, By Product, 2020-2033 (USD Billion)

30. France Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

31. France Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

32. U.K. Hearing Aids Market, By Product, 2020-2033 (USD Billion)

33. U.K. Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

34. U.K. Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

35. Italy Hearing Aids Market, By Product, 2020-2033 (USD Billion)

36. Italy Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

37. Italy Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

38. Spain Hearing Aids Market, By Product, 2020-2033 (USD Billion)

39. Spain Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

40. Spain Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

41. Asia Pacific Hearing Aids Market, By Product, 2020-2033 (USD Billion)

42. Asia Pacific Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

43. Asia Pacific Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

44. Japan Hearing Aids Market, By Product, 2020-2033 (USD Billion)

45. Japan Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

46. Japan Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

47. China Hearing Aids Market, By Product, 2020-2033 (USD Billion)

48. China Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

49. China Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

50. India Hearing Aids Market, By Product, 2020-2033 (USD Billion)

51. India Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

52. India Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

53. South America Hearing Aids Market, By Product, 2020-2033 (USD Billion)

54. South America Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

55. South America Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

56. Brazil Hearing Aids Market, By Product, 2020-2033 (USD Billion)

57. Brazil Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

58. Brazil Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

59. Middle East and Africa Hearing Aids Market, By Product, 2020-2033 (USD Billion)

60. Middle East and Africa Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

61. Middle East and Africa Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

62. UAE Hearing Aids Market, By Product, 2020-2033 (USD Billion)

63. UAE Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

64. UAE Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

65. South Africa Hearing Aids Market, By Product, 2020-2033 (USD Billion)

66. South Africa Hearing Aids Market, By Patient Type, 2020-2033 (USD Billion)

67. South Africa Hearing Aids Market, By Distribution Channel, 2020-2033 (USD Billion)

List of Figures 

1. Global Hearing Aids Market Segmentation

2. Global Hearing Aids Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Hearing Aids Market Attractiveness Analysis By Product  

9. Global Hearing Aids Market Attractiveness Analysis By Patient Type

10. Global Hearing Aids Market Attractiveness Analysis By Distribution Channel 

11. Global Hearing Aids Market Attractiveness Analysis By Region

12. Global Hearing Aids Market: Dynamics

13. Global Hearing Aids Market Share By Product (2023 & 2033)

14. Global Hearing Aids Market Share By Patient Type (2023 & 2033)

15. Global Hearing Aids Market Share By Distribution Channel (2023 & 2033)

16. Global Hearing Aids Market Share By Regions (2023 & 2033)

17. Global Hearing Aids Market Share By Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global hearing aids market based on below mentioned segments:

Global Hearing Aids Market by Product:

  • Hearing Aid Devices
  • Hearing Implants

Global Hearing Aids Market by Patient Type:

  • Adults
  • Pediatrics

Global Hearing Aids Market by Distribution Channel:

  • Audiology and ENT Clinics
  • Hospitals
  • Pharmacies

Global Hearing Aids by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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