Kenneth Research recently added a report on ‘Hearing Aid Market’ in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Hearing Aid Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Hearing Aid Market products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
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Receiver in the Ear hearing aid has been witnessing growth at a noteworthy rate over the past few years backed by production of natural sound without noise and feedback, automatic nature of adjustment to external environment and availability of wireless and telecoil options associated with it. Amongst the regions, Europe accounts for the largest regional share, by value in the global hearing aid market in 2018. Key factors driving the robust growth rate of Europe include rising geriatric population, larger uptake of ototoxic medications and wide presence of hearing aid companies in the region.
The report titled “Global Hearing Aid Market : World Market Review and Analysis By Technology (Analog, Digital), Product Type(Behind the Ear, In the Ear, Receiver in the Ear, In the Canal, Completely in the Canal, Others), Type of Hearing Loss (Conductive, Sensorineural), End-User (Pediatric, Adult), Sales Channel (Independent Sellers, Retailers, Wholesale, E-Commerce, Hospital Pharmacy, Others) – 2019 Edition:
Opportunities and Forecast (2014-2024) – By Region (North America, Europe, Asia Pacific, ROW), By Country (US, Canada, UK, Germany, China, Japan, India, Brazil)”, has covered and analyzed the potential of Global Hearing Aid market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global Hearing Aid market. Additionally, the report also highlights market entry strategies for various companies across the globe.
Scope of the Report
Global Hearing Aid Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
>> Global Hearing Aid Market – Size, Growth, Forecast
>> By Product Type (Behind the Ear, In the Ear, Receiver in the Ear, In the Canal, Completely in the Canal, Others)
>> By Type of Hearing Loss (Conductive, Sensorineural)
>> By Technology (Analog, Digital)
>> By Distribution Channel (Independent Sellers, Retailers, Wholesale, E- Commerce Hospital Pharmacy Others)
>> By End User (Pediatric, Adult)
Regional Markets – North America, Europe, APAC, Rest of the World (Actual Period: 2014-2018, Forecast Period: 2019-2024)
>> Regional Hearing Aid Market – Size, Growth, Forecast
>> By Product Type (Behind the Ear, In the Ear, Receiver in the Ear, In the Canal, Completely in the Canal, Others)
>> By Type of Hearing Loss (Conductive, Sensorineural)
>> By Technology (Analog, Digital)
>> By Distribution Channel (Independent Sellers, Retailers, Wholesale, E- Commerce Hospital Pharmacy Others)
The Final Report will cover the impact analysis of COVID-19 on this industry:
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>> By End User (Pediatric, Adult)
- Other Report Highlights
- Market Dynamics – Drivers and Restraints
- Market Trends
- Porter Five Force Analysis
- Policy and Regulatory Landscape
- Company Analysis –Sonova Holding AG, Sivantos Pte Ltd, G.N. Store Nord, Starkey Hearing Technologies, William Demant Holding A/S, Widex A/S, Cochlear Limited,Amplifon SpA, Med-El, RION Co. Ltd.
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