- Increasing the time period of voters has been a key objective for governments, that has semiconductor diode to a big extension in average lifespans in varied countries thanks to The consistent development of the care sector and sweetening in living conditions
- The geriatric demographic is especially liable to hearing problems thanks to age-related degeneration issues relating to the ears further because of the overall sensory system.
- This often seem to stay the very important driver for the worldwide hearing aids market within the returning years
- Hearing aids are sound-amplifying devices that are used to treat hearing loss. It is an electronic device containing different elements such as amplifier circuitry, microphone, miniature batteries, and loudspeaker. It captures, amplifies and delivers sound into the ear canal.
- The hearing impairment may occur due to many reasons such as due to prolonged exposure to loud noise, aging, genetic factor and due to the disease such as Meniere’s disease and trauma or injury to the head
- As per the Report (in 2015) of the Royal National Institute for Deaf People, 11 million people suffered from hearing impairment in the United Kingdom. and the number is predicted grow to 15.6 million by 2035.
- as per the report of Centers for Disease Control and Prevention (CDC) in 2014, around 97% newborns were screened for hearing impairment and in between 2005 to 2014 approximately 45,000 hearing-impaired children were born in the U.S.
- According to WHO in 2012, approx 360 million people were suffering from hearing impairment. Furthermore, as of 2017, around 1.1 billion people around the globe in the age group of 12-35 years are at the risk of hearing impairment due noise.
- Around 60% of kids hearing impairment is preventable by immunizing kids against the disease which causes for hearing impairment for example rubella, mumps, and meningitis.
Global hearing aids market:
The global hearing aids market was valued 7584.8 million US$ in 2016 and is expected to witness a robust CAGR of 4.6% during the forecast period (2017 – 2025)
- North America operates the major market share, followed by Europe in the global hearing aids market. This is mainly due to large geriatric population and high confirmation rate of devices in this region.
- Some important players hold the biggest business share of the hearing aids market are Sonova Holding AG, Sivantos Inc., Cochlear Ltd., SeboTek Hearing Systems, LLC, Oticon A/S, Zounds Hearing Inc, MED-EL, Sonic Innovations Inc., GN Hearing and William Demant Holding A/S.
- It is expected that the hearing aids market rate can increase in Asia Pacific region throughout the forecast amount owing to the continual increase in population within the rising economies like China and Republic of India.
- As per World Health Organization (WHO), in 2012, overall production of hearing aids meet only 10% demand around the globe and only 3% demand in emerging economies.
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Top Companies In The Market Are:
- Starkey Hearing Technologies
- William Demant
Other Leading Companies Are:
- Cochlear Implants
- Rayovac MicroPower Batteries
- Starkey Technologies