Audiological Devices Market

An 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 at a CAGR of 5.5% throughout the forecast period from 2019 to 2027. In 2018, in terms of volume, the market registered sales of 15.80 Mn units and is 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. In addition, 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. Furthermore, the rising appeal of the cosmetic appeal of modern devices and the rising incidence of deafness, practical devices, and cost-effectiveness of 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 market’s demand. According to the statistics generated by Hearing Industry Association, net unit sales in the United States grew by 3.7%, with a 4.0% growth in the private sector and 0.92% for the 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 the world population, and out of these, 32 million are children. According to WHO, in 2017, 1/3rd of adults over 65 had a disabling hearing impairment. The main causes of hearing impairment in adults include ageing, exposure to excessive noise, and the 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, where the prevalence of hearing impairment is higher than in other regions.

Market Synopsis

Hearing aid to dominate the market throughout the forecast period.

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

In contrast, the hearing implants segment is anticipated to register the fastest growth throughout the forecast period. According to a report by the 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 boosted the market growth in the segment.

Sales Channel Analysis

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

On the basis of sales channels, 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 with the penetration of big retail stores and consumers’ preference to buy devices from retail stores, especially in countries such as the U.S. and China. According to a recent study, in 2016, in the U.S., more than 3 million units were sold, out of which more than 75% were sold through the private market.

On the flip side, the e-commerce segment is expected to expand with the highest growth rate in the global audiological devices market during the forecast period. Owing to the 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 global audiological devices market segment.

Regional Analysis

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

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

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

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
• G.N. Store Nord
• Siemens Healthcare
• MedRx

Key Industry Development: 

• In January 2019, Prodways group announced the acquisition of Surdifuse-L. This, in turn, will help the companies to develop new products 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.

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; U.S. 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 give a better market understanding of the overall audiological devices market. In addition, the global report also represents the competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.

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

List of Figures

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)

List of Tables

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)