Electric and Acoustic Hearing System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
- Transparency Market Research
- Medical Equipments
Hearing loss is a major public health issue and is the third utmost common physical complaint after heart disease and arthritis. Hearing loss can be genetic in nature or it may be caused by factors such as ageing, trauma, birth-related complications, exposure to excessive noise and infection. Depending on the cause, the degree of hearing loss can be mild, moderate, severe or profound. Most of the cases with mild hearing loss can be treated by taking primary prevention like use of ear plugs or noise blocking earmuffs, whenever required. However, for severe or profound hearing loss, hearing aids, hearing implants or combined electric and acoustic devices are used. In September 2016, FDA has approved MED-EL Electric and Acoustic hearing system implant; which is expected to gain highest market share in the forecast period of 2016-2024. Electric and acoustic hearing system utilizes cochlear implant and acoustic amplification technology, and is used in patients with mild to severe hearing loss. In Electric and acoustic hearing hybrid system, a cochlear electrode array is implanted into cochlea and is coupled with a hearing aid, which transmits low-frequency information to user via acoustic stimulation. According to WHO, there are over 360 Mn people suffering from hearing loss, of which 328 Mn are adults and 32 Mn are children. Increasing consumer awareness about hearing impairment and availability of various types of advanced hearing aids are some of the factors expected to drive growth of the global electric and acoustic system market over the forecast period.
Increasing incidence of hearing loss, expanding global geriatric population and rising consumer awareness regarding hearing aids are some of the factors expected to drive growth of the global electric and acoustic hearing system market over the forecast period. According to WHO, it is estimated that by 2025, there will be over 1.2 billion people above 60 years of age. Increasing adoption of digital hearing technology and demand for aesthetically appealing hearing aids is expected to fuel growth of the global electric and acoustic hearing system market over the forecast period. However, high product cost is the only factor that could hamper growth of the market.
EAS hearing system devices are sold through specialized hearing-aid clinics, bigbox retailers, company-owned stores, government agencies and hospitals. The trade margin for EAS devices is high, which increases market profitability for the manufacturers. Hospital segment is expected to account for major market share in the global electric and acoustic hearing system market.
On the basis of region, the global electric and acoustic hearing system
market is segmented into North America, Europe, Asia Pacific, Latin America
and Middle East & Africa. Europe dominates the electric and acoustic
hearing system market, followed by North America. Europe accounts for
highest market share of the electric and acoustic hearing system market, as
majority of the key players are located in this region. Growth of the
electric and acoustic hearing system market in North America is driven by
factors such as increasing aging population, high prevalence of hearing
loss and technological advancements. According to the Hearing Loss
Association of America (HLAA), about 20% of Americans, 50 Mn, report some
degree of hearing loss. Also, at age of 65, one out of three people is
suffering from hearing loss.
The global electric and acoustic hearing system market in Asia Pacific is expected to grow significantly during the forecast period. The rising investments in healthcare infrastructure and development of digital and new technology are some of the factors driving growth of the market in this region. Asia Pacific market is expected to account for largest market share by 2026, due to robust distribution network and increasing prevalence of hearing loss, especially in the geriatric population.
Some of the key players in the global electric and acoustic hearing system market include MED-EL, Cochlear Ltd., Beltone and Sonova.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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