Home / Healthcare-IT / Audiological Devices Market By Product (Hearing Aid, Hearing Implants, Diagnostic Instruments, Bone Anchored Hearing Aid (BAHA)), By Technology (Digital, Analog), By Sales Channel (Retail, E-commerce, Others (Private & Public)) - Growth, Share, Opportunities & Competitive Analysis, 2019 - 2027

Audiological Devices Market By Product (Hearing Aid, Hearing Implants, Diagnostic Instruments, Bone Anchored Hearing Aid (BAHA)), By Technology (Digital, Analog), By Sales Channel (Retail, E-commerce, Others (Private & Public)) - Growth, Share, Opportunities & Competitive Analysis, 2019 - 2027

Published: Feb 2020 | Report Code: 60181-02-20

Key Market Insights

"Increase in life expectancy will spur the market revenue growth" 

The global audiological devices market accounted for US$ 9,934.9 Mn in 2018 and is anticipated to grow to US$ 16,007.8 Mn growing at a CAGR of 5.5% throughout the forecast period from 2019 to 2027. In 2018, in terms of volume market register sales of 15.80 Mn units and anticipated to reach 25.95 Mn Units expanding at a CAGR of 5.7%. 

The audiological devices market is driven majorly by the increasing aging population and rising number of hearing disorders globally. The growth in the market is proliferated by increasing research and development activities in both developing and developed economies coupled with rapid technological advancements in the market. The rising appeal of cosmetic appeal of modern devices and rising incidence of deafness, effective devices, and cost-effectiveness of the hearing devices are further boosting the market growth. Additionally increasing sales from high–quality care with modern and innovative hearing aids are further boosting the demand of the market. According to the statistics generated by Hearing Industry Association net unit sales in the United States grew by 3.7% with 4.0% growth in private sector and 0.92% for Department of Veteran Affairs. 

In addition, hearing impairment is very prevalent, according to a report by World Health Organization (WHO), in 2012, 360 million people had hearing impairment which is more than 5% of world population, and out of these 32 million are children. According to WHO in 2017, 1/3rd of the adults above the age of 65 years have a disabling hearing impairment. The main causes of hearing impairment in adults include ageing, exposure to excessive noise, and use of particular drugs. The market size is set to increase due to demographic trends such as increasing life expectancy. This trend is especially noticeable in low and middle income countries such as South Asia and sub-Saharan Africa region where the prevalence of hearing impairment is higher than other world regions.

Market Synopsis

Audiological Devices Market

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Product Analysis

"Hearing aid to dominate the market throughout the forecast period" 

Based on product, the audiological devices market is classified into hearing aid, hearing implants, diagnostic instruments and bone anchored hearing aid (BAHA) segments. Hearing aid segment dominated the global audiological devices market and accounted for more than 40% of revenue generated. This is due to rapid technological advancements, rising prevalence of hearing loss and increasing geriatric population among others.

In contrast, hearing implants segment anticipated to register fastest growth throughout the forecast period. According to a report by world health organization (WHO) in 2019, more than 460 million people have disabling hearing loss and out of 134 million babies born every year more than 150,000 are candidates for cochlear implants. This has created the demand for audiological devices and boosting the market growth in the segment. 

Audiological Devices Market

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Sales Channel Analysis

"E-commerce segment expected to witness highest growth during the forecast period"

On the basis of sales channel, the global audiological devices market is classified into retail, e-commerce and others. The retail segment dominated the market and is expected to remain dominant throughout the forecast period. This can be associated to the penetration of big retail stores coupled with consumers preference to buy devices from retail stores especially in countries such as the US, and China among others. According to a recent study, in 2016, in the US, more than 3 million units were sold out of which more than 75% were sold through private market.

On the flip side, e-commerce segment expected to expand with highest growth rate during the forecast period in the global audiological devices market. Owing to rising adoption of e-commerce medium to sell hearing aid products by manufacturers coupled with online support services and consultation. This in turn is propelling the market growth of the segment in global audiological devices market. 

Audiological Devices Market

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Regional Analysis

"Rising environmental concerns to bolster the growth in Asia Pacific region" 

In 2018, North America region dominated the audiological devices market and accounted for around 40% of revenue generated globally followed by Europe. This is due to, rising number of incidence of hearing impairment and advancement in audiology systems. According to research study by American Hearing Research Foundation, in the US, approximately 0.2% of the population is suffering from hearing impairment and every year more than 45,000 new cases are diagnosed.

In contrast, Asia Pacific region expected to expand at a significant growth rate. Owing to the presence of large geriatric population especially in China, increasing research and development activities and government initiatives among others. According to report by WHO, in 2019, the prevalence of hearing loss in adults over the age 65 is highest          in the Asia Pacific region. Thus the demand for global audiological devices is propelled.

Audiological Devices Market

List of Companies Covered:

  • William Demant Holdings A/S
  • Starkey Hearing Technologies
  • Widex A/S
  • GN ReSound Group
  • Sonova Holdings AG
  • Amplifon SpA
  • Cochlear Limited
  • GN Store Nord
  • Siemens Healthcare
  • MedRx

Audiological Devices Market

Key Industry Development: 

  • In January 2019, Prodways group announced the acquisition of Surdifuse-L. This in turn will help the companies to develop new product and increase their product portfolio in the market. 

Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027

Market Segmentation

 

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Billion
Segmentation

 Product Type Segment (2017–2027; US$ Bn)
 • Hearing Aid
 • Hearing Implants
 • Diagnostic Instruments
 • Bone Anchored Hearing Aid (BAHA)

 Technology Segment (2017–2027; US$ Bn)
 • Digital
 • Analog

 Sales Channel Segment (2017-2027; US Mn)
 • Retail
 • E-commerce
 • Others (Private & Public Initiatives, National Health Programs)

 Geography Segment (2017–2027; US$ Mn)
 • North America (U.S. and Rest of North America)
 • Europe (U.K., Germany, Russia, and Rest of Europe)
 • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
 • Rest of World (Middle East & Africa (MEA), Latin America)

The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall audiological devices market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.

Key questions answered in this report

  • What are the current market trends and dynamics in the audiological devices market and valuable opportunities for emerging players?
  • Estimated forecast and market projections up to 2027
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which technology segment holds a larger market share and why?
  • Are low and middle-income economies investing in the audiological devices market?
  • Which is largest regional market for audiological devices?
  • What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
  • Worldwide market value of the audiological devices market in 2017 and 2018
  • Which are the key trends driving the global audiological devices market growth?
  • Who are the leading service providers in the audiological devices market worldwide?

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Product
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Audiological Devices (AD) Market
2.2. Global AD Market, by Product, 2018 (US$ Mn)
2.3. Global AD Market, by Technology, 2018 (US$ Mn)
2.4. Global AD Market, by Sales Channel, 2018 (US$ Mn)
2.5. Global AD Market, by Geography, 2018 (US$ Mn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global AD Market Value, 2017-2027, (US$ Mn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Audiological Devices (AD) Market, by Product , 2017-2027 (US$ Mn)
4.1. Overview
4.2. Hearing Aid
4.3. Hearing Implants
4.4. Diagnostic Instruments
4.5. Bone Anchored Hearing Aid (BAHA)

5. Global Audiological Devices (AD) Market, by Technology, 2017-2027 (US$ Mn)
5.1. Overview
5.2. Digital
5.3. Analog

6. Global Audiological Devices (AD) Market, by Sales Channel, 2017-2027 (US$ Mn)
6.1. Overview
6.2. Retail
6.3. E-commerce
6.4. Others (Private & Public Initiatives, National Health Programs)

7. North America Audiological Devices (AD) Market Analysis, 2017-2027 (US$ Mn)
7.1. Overview
7.1.1. North America AD Market Value and Growth, 2017-2027, (US$ Mn)
7.2. North America AD Market Value, By Product, 2017-2027 (US$ Mn)
7.2.1. Market Analysis
7.3. North America AD Market Value, By Technology, 2017-2027 (US$ Mn)
7.3.1. Market Analysis
7.4. North America AD Market Value, By Sales Channel, 2017-2027 (US$ Mn)
7.4.1. Market Analysis
7.5. North America AD Market Value, By Region/Country, 2017-2027 (US$ Mn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Audiological Devices (AD) Market Analysis, 2017-2027 (US$ Mn)
8.1. Overview
8.1.1. Europe AD Market Value and Growth, 2017-2027, (US$ Mn)
8.2. Europe AD Market Value, By Product, 2017-2027 (US$ Mn)
8.2.1. Market Analysis
8.3. Europe AD Market Value, By Technology, 2017-2027 (US$ Mn)
8.3.1. Market Analysis
8.4. Europe AD Market Value, By Sales Channel, 2017-2027 (US$ Mn)
8.4.1. Market Analysis
8.5. Europe AD Market Value, By Region/Country, 2017-2027 (US$ Mn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Audiological Devices (AD) Market Analysis, 2017-2027 (US$ Mn)
9.1. Overview
9.1.1. Asia Pacific AD Market Value and Growth, 2017-2027, (US$ Mn)
9.2. Asia Pacific AD Market Value, By Product, 2017-2027 (US$ Mn)
9.2.1. Market Analysis
9.3. Asia Pacific AD Market Value, By Technology, 2017-2027 (US$ Mn)
9.3.1. Market Analysis
9.4. Asia Pacific AD Market Value, By Sales Channel, 2017-2027 (US$ Mn)
9.4.1. Market Analysis
9.5. Asia Pacific AD Market Value, By Region/Country, 2017-2027 (US$ Mn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Audiological Devices (AD) Market Analysis, 2017-2027 (US$ Mn)
10.1. Overview
10.1.1. Rest of the World AD Market Value and Growth, 2017-2027, (US$ Mn)
10.2. Rest of the World AD Market Value, By Product, 2017-2027 (US$ Mn)
10.2.1. Market Analysis
10.3. Rest of the World AD Market Value, By Technology, 2017-2027 (US$ Mn)
10.3.1. Market Analysis
10.4. Rest of the World AD Market Value, By Sales Channel, 2017-2027 (US$ Mn)
10.4.1. Market Analysis
10.5. Rest of the World AD Market Value, By Region, 2017-2027 (US$ Mn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. William Demant Holdings A/S
11.2. Starkey Hearing Technologies
11.3. Widex A/S
11.4. GN ReSound Group
11.5. Sonova Holdings AG
11.6. Amplifon SpA
11.7. Cochlear Limited
11.8. GN Store Nord
11.9. Siemens Healthcare
11.10. MedRx

* AD - Audiological Devices

FIG. 1 Global Audiological Devices (AD) Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global AD Market Segmentation
FIG. 4 Global AD Market, by Product, 2018 (US$ Mn)
FIG. 5 Global AD Market, by Technology, 2018 (US$ Mn)
FIG. 6 Global AD Market, by Sales Channel, 2018 (US$ Mn)
FIG. 7 Global AD Market, by Geography, 2018 (US$ Mn)
FIG. 8 Attractive Investment Proposition, by Geography, 2018
FIG. 9 Global Market Positioning of Key AD Market Vendors, 2018
FIG. 10 Global AD Market, by Product, 2017–2027 (US$ Mn)
FIG. 11 Global AD Market, by Hearing Aid, Value, 2017–2027 (US$ Mn)
FIG. 12 Global AD Market, by Hearing Implants, Value, 2017–2027 (US$ Mn)
FIG. 13 Global AD Market, by Diagnostic Instruments, Value, 2017–2027 (US$ Mn)
FIG. 14 Global AD Market, by Bone Anchored Hearing Aid (BAHA), Value, 2017–2027 (US$ Mn)
FIG. 15 Global AD Market, by Technology, 2017–2027 (US$ Mn)
FIG. 16 Global AD Market, by Digital, Value, 2017–2027 (US$ Mn)
FIG. 17 Global AD Market, by Analog, Value, 2017–2027 (US$ Mn)
FIG. 18 Global AD Market, by Sales Channel, 2017–2027 (US$ Mn)
FIG. 19 Global AD Market, by Retail, Value, 2017–2027 (US$ Mn)
FIG. 20 Global AD Market, by E-commerce, Value, 2017–2027 (US$ Mn)
FIG. 21 Global AD Market, by Others, Value, 2017–2027 (US$ Mn)
FIG. 22 U.S. AD Market, 2017–2027 (US$ Mn)
FIG. 23 Rest of North America AD Market, 2017–2027 (US$ Mn)
FIG. 24 U.K. AD Market, 2017–2027 (US$ Mn)
FIG. 25 Germany AD Market, 2017–2027 (US$ Mn)
FIG. 26 France AD Market, 2017–2027 (US$ Mn)
FIG. 27 Italy AD Market, 2017–2027 (US$ Mn)
FIG. 28 Rest of Europe AD Market, 2017–2027 (US$ Mn)
FIG. 29 Japan AD Market, 2017–2027 (US$ Mn)
FIG. 30 China AD Market, 2017–2027 (US$ Mn)
FIG. 31 India AD Market, 2017–2027 (US$ Mn)
FIG. 32 Rest of Asia Pacific AD Market, 2017–2027 (US$ Mn)
FIG. 33 Middle East & Africa AD Market, 2017–2027 (US$ Mn)
FIG. 34 Latin America AD Market, 2017–2027 (US$ Mn)

TABLE 1 Market Snapshot: Global Audiological Devices (AD) Market
TABLE 2 Global AD Market, by Product, 2017–2027 (US$ Mn)
TABLE 3 Global AD Market, by Technology, 2017–2027 (US$ Mn)
TABLE 4 Global AD Market, by Sales Channel, 2017–2027 (US$ Mn)
TABLE 5 Global AD Market, by Geography, 2017–2027 (US$ Mn)
TABLE 6 North America AD Market, by Product, 2017–2027 (US$ Mn)
TABLE 7 North America AD Market, by Technology, 2017–2027 (US$ Mn)
TABLE 8 North America AD Market, by Sales Channel, 2017–2027 (US$ Mn)
TABLE 9 North America AD Market, by Country, 2017–2027 (US$ Mn)
TABLE 10 Europe AD Market, by Product, 2017–2027 (US$ Mn)
TABLE 11 Europe AD Market, by Technology, 2017–2027 (US$ Mn)
TABLE 12 Europe AD Market, by Sales Channel, 2017–2027 (US$ Mn)
TABLE 13 Europe AD Market, by Country, 2017–2027 (US$ Mn)
TABLE 14 Asia Pacific AD Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 15 Asia Pacific AD Market, by Product, 2017–2027 (US$ Mn)
TABLE 16 Asia Pacific AD Market, by Technology, 2017–2027 (US$ Mn)
TABLE 17 Asia Pacific AD Market, by Sales Channel, 2017–2027 (US$ Mn)
TABLE 18 Asia Pacific AD Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 19 RoW AD Market, by Product, 2017–2027 (US$ Mn)
TABLE 20 RoW AD Market, by Technology, 2017–2027 (US$ Mn)
TABLE 21 RoW AD Market, by Sales Channel, 2017–2027 (US$ Mn)
TABLE 22 RoW AD Market, by Country/Region, 2017–2027 (US$ Mn)
TABLE 23 William Demant Holdings A/S.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 24 Starkey Hearing Technologies: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 25 Widex A/S.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 26 GN ReSound Group.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 27 Sonova Holdings AG: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 28 Amplifon SpA.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 29 Cochlear Limited.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 30 GN Store Nord.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 31 Siemens Healthcare.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)
TABLE 32 MedRx.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Developments)

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