Europe Hearing Aids Market, By Product (Hearing Aid Devices, Hearing Implants), Device type (Digital Hearing Aids, Analog Hearing Aids), Type of Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss), Patient Type (Adults, Pediatrics), Distribution Channel (Large Retail Chains, Manufacturer Owned Retail Chains, Public, Others), By Country (Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Turkey, Switzerland, Rest of Europe) Industry Trends and Forecast to 2028
Market Analysis and Insights: Europe Hearing Aids Market
Europe hearing aids market is expected to reach USD 4,802.93 million by 2028 from USD 2,886.00 million in 2020, growing at a CAGR of 6.5% in the forecast period of 2021 to 2028.
The hearing aids are referred as sound-amplifying devices as it helps treat the hearing impairment & the hearing aid. It is a device that is designed to improve hearing by making sound audible to a person with hearing loss. These are classified as medical devices in most countries and regulated by the respective regulations. Small audio amplifiers such as PSAPs or other plain sound reinforcing systems cannot be sold as "hearing aids.
Hearing technology now – a day is offering various hearing aids with developed functionality and features. The reduction of wind noise is a major feature that is provided in hearing aid devices by manufacturers. In addition, the companies are also launching several hearing aids with advanced software for helping the user program as per their need.
The rise in hearing loss and disorders, continuous development of digital hearing aids, and increased cases of aged hearing impairment are the main drivers for the Europe hearing aids market. Whereasm, the high cost of hearing aids and uncomfortable buzzing & amplification issues in hearing aid products are expected to hamper the overall growth of the Europe hearing aids market.
For instance,
- In January 2019, GN Store Nord A/S launched the hearing solution which can adapt to hearing aid users and their preferences in any sound environment. This artificial intelligence (AI) solution provides virtual assistance. The launch of this product ensures safety and helps customers to meet their challenges and requirement
This hearing aids market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Hearing Aids Market Scope and Market Size
Europe hearing aids market is segmented into five notable segments based on product, device type, type of hearing loss, patient type, and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, the hearing aids market is segmented into hearing aid devices and hearing implants. In 2021, the hearing aid devices segment is expected to dominate the market due to increased noise pollution by birth complication, resulting in more demand for hearing aids to have a good hearing experience.
- On the basis of device type, the hearing aids market is segmented into digital hearing aids and analog hearing aids. In 2021, the digital hearing aids segment is expected to dominate the market due to an increase in digitalization, growth in new and innovative technologies in the digital hearing aids segment.
- On the basis of type of hearing loss, the hearing aids market is segmented into sensorineural hearing loss and conductive hearing loss. In 2021, sensorineural hearing loss is expected to dominate the market due to increased patients with sensorineural hearing loss in Europe.
- On the basis of patient type, the hearing aids market is segmented into adults and pediatrics. In 2021, adults segment is expected to dominate the market as most hearing loss disorders are age-related and increase as the age increases.
- On the basis of distribution channel, the hearing aids market is segmented into large retail chains, manufacturer owned retail chains, public and others. In 2021, large retail chain segment is expected to dominate the market due to growing market of over the counter (OTC) hearing aid network of retail chains.
Europe Hearing Aids Market: Country Level Analysis
Europe hearing aids market is analysed and market size information is provided by country, product, device types, type of hearing loss, patient type, and distribution channel.
The countries covered in the Europe hearing aids market report is Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Turkey, Switzerland, and Rest of Europe.
Germany is expected to dominate the market due to high per capita income and higher healthcare expenditure. Furthermore, France is dominating due to growing awareness of hearing aids in the country. Moreover, U.K. is expected to growth exponentially, due to growing old age population.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Hearing aids
Europe hearing aids market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in hearing aids and changes in regulatory scenarios with their support for the Europe hearing aids market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Europe Hearing Aids Market Share Analysis
Europe hearing aids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Europe hearing aids market.
Some of the major players operating in this market are Sonova, Demant A/S, GN Store Nord A/S, Starkey, Amplifon, Audina Hearing Instruments, Inc., Arphi Electronics Private Limited, Cochlear Ltd., Horentek Hearing Diagnostics, WS Audiology, MED-EL Medical Electronics, Microson, RION CO., LTD., SeboTek Hearing Systems, LLC, Eargo Inc., and Zounds Hearing among others.
For instance,
- In January 2019, GN Store Nord A/S launched the hearing solution which can adapt to hearing aid users and their preferences in any sound environment. This artificial intelligence (AI) solution provides virtual assistance. The launch of this product ensures safety and helps customers to meet their challenges and requirement
- In February 2018, Sonova and its brands together Phonak and Advanced Bionics, introduced new MultiBeam Technology, a microphone technology used in the hearing aid and provides better hearing capability in the noise and provides better speech recognition
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for data center cooling market through expanded product range.
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