Hearing Aid Devices: Global Market Snapshot by 2021

Hearing aid are essentially sound amplifying devices that assist individuals with hearing impairment. Although hearing aid devices cannot restore normal hearing, these devices can greatly improve clarity and volume for the patients. Hearing aid devices market can be segmented into device types that include in the canal, completely in the canal, invisible in the canal, receiver in canal, behind the ear, and in the ear hearing aid devices.

Completely in the canal devices are smallest hearing aid devices, and are less sensitive to wind noise. However these devices are vulnerable to moisture and wax that may damage the speaker. Completely in the canal devices are incorporated with a smaller battery, hence have a shorter battery life. Behind the ear hearing aid devices are apt for patients with moderate to severe hearing loss. These devices also accommodate larger batteries. Behind the ear hearing aid devices market accounts for more than 60% of the market share. New technology hearing aid devices can be connected with smart phones to experience better control over the device. ReSound LiNX is one such device that can be connected to a smart phone to remotely adjust settings. The app can automatically adjust settings depending on specific locations. Halo hearing aid is a similar device by Starkey that can be connected through TruLink app to an iPhone. Another important evolution in the global hearing aid market includes the application of 3D printing technology. Sonova was a pioneer in applying 3D printing in manufacturing customized hearing aid devices. Widex is another company that excels in manufacturing 3D printed hearing aid devices. These technological advancements have helped in overcoming some of the significant unmet needs including comfort and flexibility in device management.

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Hearing aid devices market is experiencing healthy growth worldwide and is expected to be dominated by the U.S. and Europe. Aging population and high percentage of global population with hearing loss is a major driver for the hearing aid devices market. According to the World Health Organization (WHO), more than 350 million persons globally suffer from disabling hearing loss. The organization also states that the prevalence of disabling hearing loss in children is higher in Asia Pacific and Sub-Saharan Africa. Another statistics published by the National Institute of Deafness and Other Communication Disorders states that 37 million individuals aged 18 years and above report difficulty in hearing. The prevalence of hearing loss is expected to increase substantially in the near future due to aging population, and increasing life expectancy.

Key players in the hearing aid devices market include Amplifon, Starkey, Costco, Savants/Siemens, William Demant and others.

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NOTE: This report is currently under research and will be made available to clients on request.

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