Global Hearing Aids Market 2016-2020
About Hearing Aids
Technological advancements have led to the introduction of certain innovative products in the market. Battery-operated conventional devices have been replaced with advanced wireless hearing aid devices. The rise in prevalent cases of hearing loss and the transition in demographics have contributed to the increased use of hearing aids.
Technavio’s analysts forecast the global hearing aids market to grow at a CAGR of 5.50% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global hearing aids market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales hearing aids that are used to provide assistance with hearing and other related problems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Hearing Aids Market 2016-2020
Technavio recognizes the following companies as the key players in the global hearing aids market: William Demant, Sonova, Cochlear, and MED-EL.
Other Prominent Vendors in the market are: Beltone, Eartone, GN ReSound, Medtechnica Orthophone, Miracle Hearing Aid Clinic, Persona, Shenzhen Sunsky Technology, Siemens Healthcare, Starkey Hearing Aids, and Union Hearing Aid Centre.
Commenting on the report, an analyst from Technavio’s team said: “With the advancement in the technology, the market of hearing aid devices has seen a transformation. The new technologies have been helpful in diagnosis and treatment, and can help in improving the quality of life and communication in the patients. The hearing aid devices are developed and modified to keep the patients in sync with the latest IT powered world.”
According to the report, patients who suffer from bilateral hearing loss (i.e., suffering from hearing loss in both the ears) are recommended the use of binaural fittings. These binaural hearing aids result in natural hearing for the individual. These devices are associated with numerous advantages in comparison with single hearing aid devices. These binaural devices help with better sound hearing from all directions. These devices help in speech recognition in noisy environments.
Further, the report states that some technical and consumer challenges have been reported according to studies. With these electronic hearing aid devices, the battery has been one of the major points of concern in most brands.
William Demant, Sonova, Cochlear, MED-EL, Beltone, Eartone, GN ReSound, Medtechnica Orthophone, Miracle Hearing Aid Clinic, Persona, Shenzhen Sunsky Technology, Siemens Healthcare, Starkey Hearing Aids, Union Hearing Aid Centre.