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Global Hearing Aid Market Revenue is expected to Reach over USD 13 Billion by the year ending 2023E: Ken Research
September 2019

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Analysts at Ken Research in their latest publication Global Hearing Aid Market Outlook to 2023 - By Hearing Aid Devices (By Ear and By Canal) and Hearing Implants (Cochlear implants and Hearing implants), By Region (Americas, Europe, Asia-Pacific and RoW), By Type of Distribution channel (Audiology & ENT clinics, Hospitals and Pharmacies)believed that the Global Hearing Aid market will increase due to rising number of hearing loss patients, increasing personal disposable income, growing demand for artificial intelligence coupled with increasing technological up-gradations in the hearing aid devices.

Key Findings

In Future, it is anticipated that revenue share of Cochlear Implants will reach to 85.0% by 2023E from 80.5% in 2018. This is largely due to the increasing number of reimbursement policies and tender programs by the Government.

Per Capita health expenditure in US has been rising over the years and is anticipated to reach from USD 10,708 in 2018 to USD 12,449 by 2023E. The rising health expenditure would lead to the higher adoption among the hearing loss patients.

The rising awareness about hearing aid devices and implants, increasing government reimbursement policies, growing demand for Artificial Intelligence and Rising number of hearing loss patients are the major favorable factors driving hearing aid sales.

Rising demand for Artificial Intelligence: Artificial Intelligence in hearing aid market at global level is rising. Global Hearing Aid market is a technology driven market wherein Artificial Intelligence in Hearing Aid Devices and Hearing Implants is expected to take larger share in the coming future. AI employs machine learning that moves beyond simple decision-making to assist the individual by using data from around the world to benefit to optimize the users hearing experience. Artificial Intelligence in hearing implants has been employed in such a way that it can predict language development in deaf children using cochlear implants. A machine-learning algorithm used pre-cochlear implant surgery MRI scans to detect abnormal brain development with a high degree of accuracy, specificity and sensitivity.

Product Launches and Technological Advancements: Technological developments in hearing aid devices and advancements in implants have driven the hearing aid market over the years. Technologies such as build-in sensors, wherein the device have more healthcare features with better chances of higher performance due to multiple build-in sensors and micro-electronic device that include the smaller devices equipped powerfully with more features such as longer battery stand time, rechargeable batteries and connectivity. For instance, Livio AI by Starkey Hearing Technologies.

Increasing Number of Private Insurers and Dispensers: Increasing number of dispensers would enhance convenience to hearing loss patients and increasing number of private insurers through partnerships and acquisitions would increase the revenue of hearing aid market in near future. For instance, the organization such as Japan Hearing Aid Dispensers Association has helped in the adoption of hearing aid devices among hearing impaired individuals.

The market is expected to register a positive CAGR of 5.4% in terms of revenue during the forecast period2018-2023E.

Key Segments Covered

By Type of Hearing Aid

Hearing Aid Devices

Hearing Implants

By Region

Americas

Europe

Asia-Pacific

RoW

By Type of Distribution Channel

Audiology and ENT Clinics

Hospitals

Pharmacies

By Type of Hearing Aid Devices

By Ear

By Canal

By Type of Hearing Implants

Cochlear

BAHA

By Hearing Implants in Region

Americas

Europe

Asia-Pacific

RoW

By Ear type of Hearing Device

BTE

RIC

ITE

By Canal type of Hearing Device

IIC and CIC

ITC

By Hearing Aid Devices in Region

Americas

Europe

Asia-Pacific

RoW

Key Target Audience

Hearing Aid Manufacturing Companies

International Manufacturers

Domestic Manufacturers

Private Equity Investors

Hospitals and ENT clinics

Government/ Regulatory Authorities

Time Period Captured in the Report:

Historical Period: 2013-2018

Forecast Period: 2019E -2023E

Companies Covered:

Sonova Holdings

William Demant Holdings

GN Hearing

Widex

Sivantos

Starkey Hearing Technologies

Cochlear Limited

MED-EL

Rion Co. Ltd.

Zounds Hearing Inc.

Audina Hearing instruments

Microson

NewSound Hearing Aids

Key Topics Covered in the Report

Global Hearing Aid Market Overview and Genesis

Global Hearing Aid Market Size, 2013-2018

Global Hearing Aid Market Ecosystem

Global Hearing Aid Market Value Chain Analysis

Global Hearing aid devices and Hearing Implants Pricing Analysis

Global Hearing Aid Market Size by Revenue (2013-2018)

Global Hearing AidMarket Segmentation (2018)

Global Hearing Aid Market Segmentation by Type (Hearing Aid Devices and Hearing Implants)

Global Hearing AidDevices Market Segmentation by type (By Ear and By Canal).

Global Hearing Aid Devices Market Segmentation by Ear type (ITE, BTE and RIC).

Global Hearing Aid Devices Market Segmentation by Canal type (IIC, CIC and ITC).

Global Hearing Aid Devices Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW).

Global Hearing Implants Market Segmentation by Type (Cochlear and BAHA).

Global Hearing Implants Market Segmentation by Region (Americas, Europe, Asia-Pacific, RoW).

Global Hearing Aid Market Segmentation by Distribution Channel (Audiology & ENT clinics, Hospitals and Pharmacies)

Global Hearing Aid Market Trends and Developments

Global Hearing Aid Market Snapshot of Major Countries in, 2013-2018

Global Hearing Aid Market Government Regulations, Certification and Labeling Practices

Global Hearing Aid Market Investment Scenario

Global Hearing Aid Market Mergers and Acquisitions of the companies, 2013-2018

Global Hearing Aid Market Trends and Developments

Global Hearing Aid Industry Porter’s Five Forces

Global Hearing Aid Market Competitive Landscape

Global Hearing Aid Market Company Profile of Major Players

Global Hearing Aid Market Future Outlook and Projections, 2018-2023E

Global Hearing Aid Market Future Outlook and Projections,2018-2023E

Analyst Recommendations

The report provides information on medical device market segment (by type of medical device, by type of medical consumables, by end user and by procurement), competitive landscape of major medical device manufacturers and distributors including Indo Health Medical, PT Andini Sarana, PT Trimitra Garmedindo Interbuana, PT Mega Andalan Kalasan, GE Healthcare, Siemens, Indonesia, Philips, Indonesia, Samsung, Hitachi, PT Mensa Bina Sukses, PT Transmedic Indonesia, PT Surgika Alkesindo, PT Daya Inti Kurnia Abadi, and Citra Medika Lestari. The report concludes with market projection for future highlighting the major opportunities and cautions.

The growing number of hospitals or other health centers in Indonesia has led to the rising demand for medical equipment. Indonesia medical device market is highly regulated with stringent import regulations even though it heavily relies on imports. This is due to lack of established local manufacturer. The demand has increased majorly for diagnostic imaging, medical consumables, aesthetic, orthopedic and dental products. This is driven by increased healthcare spending and rising awareness about different treatment methods.

Philippines Medical Devices Market Outlook to 2023 - Surge in Demand for Used/Refurbished Medical Equipments and New Healthcare Infrastructure Projects to Maintain Healthy Growth

The report provides a comprehensive analysis on the medical devices market in Philippines. The report covers a brief introduction of the medical devices market in the country, value chain analysis of the market, the overall size of the market in terms of revenue; market segmentation on the basis of business activity, mode of sales, type of medical devices, end users and regions; decision making process and pain points encountered by end users in the industry, trends and developments, issues and challenges, porter’s forces analysis, regulatory environment of the industry; competitive landscape including competition stage, competition parameters and company profiles of major players. The report concludes with market projections and analyst recommendations highlighting the major opportunities and cautions for existing players and new entrants in the industry.

Philippines Medical Device market is at the growing stage. Philippines Medical Device market in terms of revenue has increased at a positive CAGR during the period 2013-2018. Philippines heavily rely on imports for medical devices and local production is limited to prototype units and disposables such as surgical gloves, syringes, and needles. The market is price-sensitive and major factors impacting demand are population growth, increase in geriatric population, steady economic growth at 6.7% (2017), and hospital expansion and up-gradation.

Vietnam Medical Devices Market Outlook to 2022 - By Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopedics and Prosthetics, Patient Aids and Other Medical Devices)

The report provides a comprehensive analysis of Vietnam Medical Devices Market Overview and Size, growth drivers and restraints. The report also provides data points on Vietnam Medical Devices market by Application (Orthopedic and Prosthetic Applications, Diagnostic Imaging Equipment, Paraclinical Equipment, Emergency Medical Equipment, Operation Room Equipment and Others), by Material (Textile Products, Electronic Products, Plastic Products, Rubber Products and Other Products), by Equipments (Consumables, Diagnostic Imaging, Dental Products, Orthopaedics and Prosthetics, Patient Aids and Other Medical Devices) and by End Users (Government Funded Hospitals, Local Private Hospitals, Foreign Owned Hospitals and Medical Education, Research Institution and Others) along with company profiles of Japan Vietnam Medical, Danameco, Armephaco, B Braun, Shimadzu, General Electric, Terumo BCT and Phillips. The report also covers SWOT Analysis, Roadmap for Tender Application for Medical Device Company in Vietnam, Regulatory Process, import by value and destination, Vietnam Medical devices competitive landscape, Analyst Recommendations and future outlook.

Singapore Medical Devices Market Outlook to 2022 - by Type of Medical Device (Consumables, Diagnostic Imaging, Patient Aids, Orthopedic & Prosthetics, Dental Products and Others)

The report covers aspects such as medical device market segment (by type of medical device, and by end users), competitive landscape of major players in the Singapore medical device market, and covering competitive landscape of major medical device manufacturers and distributors including QT Vascular, Biosensors International, Becton Dickinson, Optimal Medical Products Pte Ltd, B. Braun Singapore Pte Ltd, Alcare Pharmaceuticals, and Kingston Medical Supplies Pte Ltd. The report concludes with market projection for future highlighting the major opportunities and cautions.

Singapore Medical device revenue increased at a double digit CAGR during 2012-2017. The market is in the growing stage with rise in number of foreign players. This was driven by expansion of healthcare institutions and increased demand for home care devices such as Elderly Care -Monitoring Systems (sensors at home, applications, and wearable devices). Singaporeans’ strong demand for better healthcare creates an excellent market for foreign medical device companies, who supply more than 85% of the country’s devices. Leading importers include the US, Germany and Japan. At present, more than 60% of products imported into Singapore are subsequently re-exported.

Kuwait Medical Device Market Outlook to 2022 - By Type (Diagnostic Imaging Products, Medical Disposables, Auxiliary Devices, Orthopedic Devices, Dental Products, Aesthetic Devices, Diabetic Products and Others)

The report covers various aspects including introduction, market size, competition, market segmentation by end user (Public Sector and Private Sector), by type of medical devices (Diagnostic Imaging Products, Medical Disposables, Auxiliary Devices, Orthopedic Devices, Dental Products, Aesthetic Devices, Diabetic Products and Others), growth drivers, restraints, key regulations future outlook and analyst recommendation. The report is useful for manufacturers, AI companies, distributors, system integrators, hospitals, diagnostic labs, doctors, end users, government, pharmacies and potential entrants and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Kuwait medical device market is in its late growth stage (based on distributor model) and has a limited number of large players dominating the market. The medical devices market in Kuwait is completely import driven dominated by international brands. The medical devices market in Kuwait has witnessed growth owing to the increased participation of private players in healthcare sector. Technological innovations and increased focus on infrastructure development has also resulted in increased demand of medical devices in Kuwait. Heavy investments in infrastructure projects are driving the growth in Kuwait. Increase in number of chronic diseases has resulted in increase in demand of healthcare facilities in the country. The end users of medical devices are government as well as private sector hospitals, clinics and primary care centers.

For more information, refer to below link:

Global Hearing Aid Market

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