The Global Hearing Aid Market consists of different international, regional, and local vendors. The market competition is foreseen to grow higher with the rise in technological innovation and M&A activities in the future. Moreover, many local and regional vendors are offering specific application products for varied end-users. The new vendor entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
Hearing loss, also known as hearing impairment, is a medical condition in which a person becomes partially or totally unable to hear sounds. It can occur in both or one ear of a person and can be temporary or permanent. Normal hearing ability of a person ranges from 0 dB to 20 dB in all frequencies but when a person is suffering from hearing loss, the range of hearing varies from 16 dB to more than 90 dB.
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Hearing aid, also known as deaf aid, is a device used for improving the hearing capability of person suffering with hearing loss. It is a small sound amplifying electronic device which is placed around or inside the ear of the user. It is the most common treatment for hearing loss and consists of three components that include microphone, amplifier and speaker. Microphone converts the received sound waves into electronic signals and then transmits these electric signals to the amplifier. Once the amplifier receives the signals, it intensifies these signals and sends them to the speaker which converts these electric signals into audible acoustic waves.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
EMEA region is a major contributor to the global hearing aid market, supported by increased cases of hearing disorders. North America is likely to experience further growth of hearing aid market with increasing awareness and adoption of hearing aids among people and rising technological advancements.
The report Global Hearing Aid Market: Industry Analysis & Outlook (2017-2021) by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering the U.S., and Europe region along with the global market. The report profiles the key players of the market including Johnson & Johnson, Medtronic plc, Abbott Laboratories and DexCom Inc.
The global market is expected to grow in future due to rising prevalence of hearing loss, increasing ageing population and life expectancy, rising disposable income and healthcare expenditure. Key trends of this market include increasing usage of headphones, growing adoption of hearing aids and binaural fittings. However, there are some factors which can hinder growth of the market including decreasing average selling price of hearing aid and lack of hearing health professional.
The report Global Hearing Aid Market: Industry Analysis & Outlook (2017-2021) by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering North America, EMEA and APAC along with the global market. The report profiles the key players of the market including Sonova, GN Store Nord, William Demant and Amplifon.
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