Published on : Nov 07, 2016
ALBANY, NY, Nov 07, 2016: The 89-page research study, titled “Global Hearing Aid Market (Devices & Cochlear Implants): Industry Analysis & Outlook (2016-2020),” offers a thorough analysis of the market, emphasizing the primary dynamics that are estimated to determine the growth of the overall market. To provide a strong understanding of the global hearing aid market, the report has highlighted the latest trends, key drivers, limitations, and opportunities in the market.
The growing healthcare expenditure, a rapidly rising diabetic population, and the increased use of headphones and earphones are some of the primary factors boosting the demand for hearing aid devices. In addition, a significant rise in chronic kidney diseases and a growing geriatric population are expected to accelerate the growth of the global hearing aids market in the coming years. Key players in the market are focusing on expanding their distribution channels in order to enhance their market penetration and augment their businesses. Technological advancements in hearing aid devices are also expected to encourage the growth of the overall market in the coming years.
On the other hand, issues related to legal regulations, a low average selling price, and the threat from new players are some of the key factors estimated to restrict the growth of the hearing aid market across the globe. Nevertheless, the rising popularity of cochlear implants, the development of wireless hearing aids, and the emergence of next-generation rechargeable hearing aids are projected to offer lucrative opportunities for market players. Moreover, the untapped markets in developing countries are anticipated to offer potential opportunities for the key players operating in the global hearing aid market.
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On the basis of geography, the global hearing aid market has been divided into France, Europe, Germany, the U.S., and the U.K. Among these, Europe is expected to lead the global hearing aid market throughout the forecast period, owing to the rising geriatric population in this region. In addition, with the purchasing power of consumers being high, the hearing aid market in Europe is expected to witness significant growth in the next few years. On the other hand, the U.S. is projected to grow at a robust pace during the forecast period.
The leading players operating in the hearing aid market across the globe include GN Re Sound, William Demant Holding, and Sonova. As per the research study, this market is extremely consolidated in nature, with a few players collectively holding a massive share in the market. These players are focusing on research and development activities to introduce new devices with enhanced features to attract a large number of consumers. To offer a clear picture, the research report has provided an in-depth analysis of the prominent players in the market.
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