North America 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), Country (U.S., Canada, Mexico) – Industry Trends and Forecast to 2026
The rising hearing disabilities among adults and pediatrics are one of the leading concerns in the healthcare industry. Thus, the need for developed hearing aid devices are increasing as many remains untreated, mainly among infants, which would further lead to psychological disabilities and speaking impairment among them. Moreover, the technological advancements related to the products which combine hearing aid technology and cochlear implants for overcoming the high frequency hearing loss is creating various opportunities for the market players in the hearing aid industry.
Hearing technology today is offering various hearing aids with developed functionality and features. Reduction of the wind noise is a major feature provided in the hearing aid devices by manufacturers. The companies are also launching several hearing aids with advanced software for helping the user program as per their need. The hearing aids are referred to as sound amplifying devices that help in treating the hearing impairment & the hearing aid market is also anticipated to grow steadily with the rising prevalence of hearing-loss and growing demand for technologically developed products.
Earlier the analog devices were used widely. But this technology stayed the same till the 1980s, as later the digital hearing aid model was introduced in 1996. The digital aids are more convenient as compared to analog devices, so now the demand for digital aid devices are more as compared to analog devices.
North America hearing aids market is projected to register a healthy CAGR in the forecast period 2019 to 2026.
Segmentation: North America Hearing Aids Market
North America hearing aids market is categorized into five segments which are product, device type, type of hearing loss, patient type and distribution channel.
- On the basis of product, the market is segmented into hearing aid devices and hearing implants.
- In February 2018, In February, SONOVA and the brands of the company together Phonak and Advanced Bionics announced the introduction of new MultiBeam Technology a microphone technology used in the hearing aid and provides the better hearing capability in the noise and provides better speech recognization.
- On the basis of device types, the market is segmented into digital hearing aids and analog hearing aids.
- On the basis of type of hearing loss, the market is segmented into sensorineural hearing loss and conductive hearing loss.
- In December 2018, Sivantos Pte. Ltd announced the strategic partnership with Clearwater Clinical Limited (Canada). The partnership will expand the audiologists with innovative audiometer improves customer experience.
- On the basis of patient type, the market is segmented into adults and pediatrics.
- On the basis of distribution channel, the market is segmented into large retail chains, manufacturer owned retail chains, public and others.
- In January 2019, Starkey Hearing Technologies unveiled three new revolutionary advancements within the Livio AI technology such as Fall Detection & Alerts, Thrive Virtual Assistant and Heart Rate Measurement. This strategy helped in the expansion of product portfolio and in the product development of the company.
Competitive Analysis: North America Hearing Aids Market
Some of the major players operating in this market are WIDEX A/S, GN Store Nord A/S, Sonova, Sivantos Pte. Ltd, Microson, Horentek, RION CO. Ltd, William Demant Holding A/S, Amplifon, Starkey, MED-EL Medical Electronics, Cochlear Ltd., SeboTek Hearing Systems, LLC., Audina Hearing Instruments, Inc., Arphi Electronics Private Limited, Zounds Hearing and others.
- Arphi Electronics Private Limited launched G4 hearing systems with automatic functions that can be optimized audiologically depending on the hearing situation. This strategy would help in the expansion of the product portfolio of the company.
- Audina introduced the all new Arro Family products of Receiver in Canal devices which offer next generation hearing technologies in a compact-case design. This would help in the expansion of the product portfolio of the company.
Research Methodology: North America Hearing Aids Market
Key Opinion Leaders (KOL’s): Manufacturer, Healthcare Professionals, Doctors, Nurses, Medical practitioners. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.