Europe Hearing Aid Market, By Product Type (Behind the Ear (BTE), Receiver in the Ear (RITE), In the Ear (ITE), Canal Hearing Aids (CHA), Other Hearing Aid Devices) Type of Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss), Technology (Conventional Hearing Aids, Digital Hearing Aids), Patient Type (Adults, Pediatrics) Country (Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, and Rest of Europe) Market Trends and Forecast to 2027
Market Analysis and Insights: Europe Hearing Aid Market
Europe hearing aid market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses the market to account to USD 4.40 billion by 2027 growing at a CAGR of 6.10% in the above-mentioned forecast period. This growth in the market is a result of increased hearing loss and technological developments in hearing aids.
Hearing aid is a tiny electronic device you carry inside or behind your ear. This renders certain sounds louder so, that a hearing loss patient can understand, communicate and participate more actively in daily operations. Hearing support can help people learn more in both quiet and noisy situations. The hearing aid includes three basic components: A microphone, an amplifier and a projector. The microphone transforms the sound system into electrical signals and transmits them to the amplifier. The amplification increases the power of the outputs and passes them to the ear through the microphone.
The increased incidence of hearing loss fuels market growth, technical advances in hearing aid drive market growth, elderly Population boosts market growth, and rising production of improved devices leads to market growth, which is driving the growth of the market in the forecast period to 2027.
This hearing aid 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, geographical 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 Aid Market Scope and Market Size
Europe Hearing aid market is segmented on the basis of product type, type of hearing loss, technology, patient type. The development between the segments allows you to evaluate niche development pockets and business response approaches to recognize the main use areas and variations in your target markets.
- In October 2019, Philips announced that Demant has launched hearing solutions from the Philips brand. At the 2019 Congress of the European Union of Listening Aid Acousticians, Philips Hearing Solutions visitors (410 in Hall 3A) can discuss the unique possibility of adding hearing aids from Philips HearLink to their portfolios with key representatives. By unveiling the audio solution, Philip enters the market and provides advertised audio aids that immediately integrate performance, consistency and cost to their clients.
- On the basis of product type, the hearing aid market is segmented into receiver in the ear (RITE), in the ear (ITE), canal hearing aids (CHA), and other hearing aid devices. In August 2019 Oticon announced the launch of the two new hearing aids named Oticon Xceed play and Oticon Xceed. These devices are designed for the severe-to-profound hearing loss patient. The new device Improves 10 per cent speech clarity decreases the listening effort that power users are handling with in most cases by 10 per cent every day, and raises the quick-term attentive by 15 per cent, with this launch the company extends the hearing aids product portfolio and increased its market share in the Hearing Aid Market
- On the basis of type of hearing loss the Europe hearing aid market, is segmented into sensorineural hearing loss, conductive hearing loss.
- On the basis of technology, the hearing aids market is segmented into conventional hearing aids, digital hearing aids.
- Depend on patient type the hearing aid market is segmented into adults, pediatrics.
Europe Hearing Aid Market Country Level Analysis
Europe hearing aid market is analyses and market size information is provided by country by technology and application as referenced above.
The countries covered in the Europe hearing aid market report are Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, and Rest of Europe in Europe.
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, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global 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.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Europe hearing aid market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for hearing aid market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the hearing aid market. The data is available for historic period of 2010 to 2018
Competitive Landscape and Europe Hearing Aid Market Share Analysis
Europe hearing aid 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, clinical trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Europe hearing aid market.
The major players covered in the Europe hearing aid market are Sonova, Demant A/S, GN Store Nord A/S, Cochlear Ltd, Siemens AG, Starkey, Widex A/S, MED-EL, Rion Co., Ltd., Horentek, Microson, Tondi Electronics AS, Sonion, Bernafon, Oticon A/S, among other domestic players. Market share data is available for Europe. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
In October 2019, Demant's Hearing Aid major corporation has confirmed the suspected ransomware attack on its IT system. The attack cost the company about USD 95 million. The company assured the Investor that any information that could be identified as a result of this incident has been accessed or extracted from our systems.
Customization Available : Europe Hearing Aid Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. we can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.