Global Digital Hearing Aids Market Research Report: Forecast (2023-2028)

Name: Global Digital Hearing Aids Market Research Report: Forecast (2023-2028)
Creator: MarkNtel Advisors
License: https://www.marknteladvisors.com/privacy-policy

By Product Hearing Aid Devices (Receiver-in-the-Ear (RITE), Behind-the-Ear (BTE), In-the-Canal (ITC), In-the-Ear (ITE), Others), Hearing Implants (Cochlear, Bone-Conduction)), By T......ype of Hearing loss (Sensorineural, Conductive, Mixed), By Patient Type (Adults, Pediatrics), By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific), By Company (Audina Hearing Instruments Inc., Cochlear Ltd., Demant A/S, Elkon Pvt. Ltd., GN Store Nord A/S, MED-EL, Nurotron Biotechnology Co. Ltd., Rion Co. Ltd., Sanova Group, Starkey, Unitron, WS Audiology A/S, Others) Read more

Healthcare
May 2023
Pages 189
Report Format: PDF, Excel, PPT

Market Definition

A hearing aid is a small battery-operated device that helps improve the hearing abilities of patients with hearing loss. It consists of an amplifier, microphone, & speaker, which aid in amplifying the sound vibrations entering the ear and converting them into neural signals passed into the brain. Extensively available in numerous designs, these devices can be well-customized according to individual requirements.

Global Digital Hearing Aids Market (2023-28): Market Insights & Projections

The Global Digital Hearing Aids Market projected to grow at a CAGR of around 5.2% during the forecast period, i.e., 2023-28. The market's growth is likely driven mainly by the rapidly increasing incidence of hearing impairments due to the growing geriatric population worldwide, coupled with significant advancements in hearing aid technology over the years. Besides, substantial R&D investments by prominent companies in developing advanced hearing aid with better sound quality, improved performance & efficiency, & wireless connectivity, alongside AI integration and rechargeable batteries, are also creating profitable prospects for the market in the coming years.

Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	5.2%
Regions Covered	North America: USA, Canada, Mexico
	South America: Brazil, Argentina, Rest of South America
	Europe: The UK, Germany, France, Spain, Italy, Rest of Europe
	Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
	Middle East & Africa: GCC, South Africa, Rest of Middle East & Africa
Key Companies Profiled	Audina Hearing Instruments Inc., Cochlear Ltd., Demant A/S, Elkon Pvt. Ltd., GN Store Nord A/S, MED-EL, Nurotron Biotechnology Co. Ltd., Rion Co. Ltd., Sanova Group, Starkey, Unitron, WS Audiology A/S, Others
Unit Denominations	USD Million/Billion

The advent of innovative products equipped with both cochlear implants & hearing aid technologies to overcome high-frequency hearing loss is also boding well for the growth of the digital hearing aids market.

Moreover, aspects like chronic inflammation, vascular disorder, excessive noise exposure, genetic susceptibility, & physiological aging of the ear that may result in hearing impairments among people shall also promote the market expansion over the coming years. Furthermore, the increasing cases of birth complications & ear infections worldwide and the integration of smart technologies into these devices also indicate remunerative opportunities for the global digital hearing aids market over the coming years.

Global Digital Hearing Aids Market Research Report: Forecast (2023-2028)

Global Digital Hearing Aids Market Drivers: Increasing Prevalence of Hearing Loss Due to Upscaling Noise Pollution Worldwide

The globally increasing noise pollution levels are leading people to lose their optimum hearing capabilities. For instance, according to WHO, over 1.5 billion people, nearly 1/5th of the global population, live with hearing loss; 430 million have disabling hearing loss. There could be over 700 million people with disabling hearing loss by 2050. Citing the anticipated dramatic increase in the number of hearing loss patients, the demand for hearing aids is likely to surge in the coming years, fueling market growth.

Global Digital Hearing Aids Market Trends:

Integration of Digital Hearing Aids with Smartphones - Unlike conventional products, digital hearing aids offer enhanced sound quality due to selective amplification of sound, reduced feedback, comfortable listening experience, and automated adaptation to different listening situations without manually adjusting the volume. Most of today's digital hearing aid devices have smartphone integration, allowing individuals to make volume adjustments, monitor battery life, and contact their healthcare provider. While some can convert speech into text & translate different languages, the more advanced ones can even act like assistive listening devices by routing phone calls or other sound sources directly to the device and have tinnitus masking features. With rigorous R&D, they are becoming more automatic & innovative to help individuals communicate in challenging listening environments, resulting in broader adoption of such products, making the market proliferate in the coming years.

Global Digital Hearing Aids Market (2023-28): Segmentation Analysis

The Global Digital Hearing Aids Market study from MarkNtel Advisors analyses the major trends in each sub-segment and includes predictions for the period 2023–2028 at the global, regional, and country levels. The market has been segmented in our analysis based on product, type of hearing loss and patient type.

Based on Product:

Hearing Aid Devices

Receiver-in-the-Ear (RITE)
Behind-the-Ear (BTE)
In-the-Canal (ITC)
In-the-Ear (ITE)
Others

Hearing Implants

Cochlear
Bone-Conduction

Among other hearing aid devices, Behind-the-Ear (BTE) hearing aid devices hold the largest share in the Global Digital Hearing Aids Market, as they are readily available, easy to replace, & inexpensive, and offer better connectivity. They have more amplification power than their counterparts, are equipped with a directional microphone that enhances their efficiency, and are suitable for people of all age groups & any hearing impairment.

Moreover, with extensive availability in various sizes, high efficiency, & easy operation, more & more users prefer BTE hearing aids. Massive investments by the leading manufacturers in introducing advanced features to their product offerings are also contributing notably to the market growth.

For instance:

In November 2021, Widex A/S (now WS Audiology) announced the launch of its first-ever rechargeable BTE hearing aids, Widex MOMENT BTE R D, which features PureSound™, LED indicator, telecoil, and direct streaming to iPhone & Android. On a single charge, it can run for up to 37 hours and 24 hours in total when used for roughly 8 hours of streaming.

Likewise, on 13th October 2021, Unitron extended its Blu line of hearing devices by announcing the launch of its Stride™ Blu BTE (Behind-The-Ear) hearing aids to enhance the wearers' listening experience. The two new form factors— Stride B-PR & Stride B-UP BTE, provide easy personalization & performance and have a smaller & sleeker design than previous devices. The Stride B-PR is rechargeable and offers tap control & a full day of listening on a single charge. It allows wearers to remain engaged in their daily activities without having to recharge the device. On the other hand, Stride B-UP, with an easy-to-find multi-function button for easier control, is the company’s first Ultra Power device to offer 'Made-for-All' direct connectivity.

Based on Type of Hearing Loss:

Sensorineural
Conductive
Mixed

Here, SNHL (Sensorineural Hearing Loss) accounts for the majority share in the Global Digital Hearing Aids Market. It occurs when the inner ear, the cochlea in the inner ear, or the nerve pathways between the ear & the brain get damaged, generally by exposure to loud noises, genetic factors, or the natural aging process. The rapidly rising geriatric population, i.e., highly prone to hearing loss, is the prime factor driving the demand for digital hearing aids to help patients overcome mild-to-moderate SNHL for both ears. With the mounting prevalence of hearing loss in the US, where around 4,000 cases of acute SNHL get diagnosed each year, the demand for digital hearing aids for treating either unilateral or bilateral SNHL is projected to rise significantly in the coming years.

Global Digital Hearing Aids Market (2023-28): Regional Analysis

Geographically, the Global Digital Hearing Aids Market expands across:

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Europe is projected to attain a significant share of the Digital Hearing Aids Market through 2028. It owes to the mounting prevalence of auditory loss, immense government support & increased investments toward bringing technological advancements to hearing aid devices, and the rising geriatric population levels across the region. In Europe, Germany is the leading market for digital hearing aids, with numerous qualified healthcare professionals and the extensive presence of prominent manufacturers across the country. The active participation of these players in implementing innovative hearing aid products, which are being adopted widely by audiologists, ENT specialists, and hearing care specialists, is another prominent aspect expected to contribute to the regional market expansion over the forecast years.

Gain a Competitive Edge with Markntel Advisors’ Global Digital Hearing Aids Market Report

Global Digital Hearing Aids Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
Global Digital Hearing Aids Market report aids in assessing and mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.

Frequently Asked Questions

A. The Global Digital Hearing Aids Market is projected to grow at a CAGR of around 5.2% during 2023-28.

A. The mounting prevalence of hearing loss, especially among the elderly population, i.e., rising at a significant pace worldwide, coupled with remarkable technological advancements in hearing aid devices, are the prime aspects projected to drive the Digital Hearing Aids Market during 2023-28.

A. Audina Hearing Instruments Inc., Cochlear Ltd., Demant A/S, Elkon Pvt. Ltd., GN Store Nord A/S, MED-EL, Nurotron Biotechnology Co, Ltd., Rion Co. Ltd., Sanova Group, Starkey, Unitron, and WS Audiology A/S are the key companies operating in the Digital Hearing Aids Market.

A. SNHL (Sensorineural Hearing Loss) would generate profitable opportunities for the leading players in the Digital Hearing Aids Market during 2023-28.

A. Globally, Europe would provide lucrative prospects for the Global Digital Hearing Aids Market in the years ahead.

A. Integration of digital hearing aids with smartphones is the significant trend projected to shape the Global Digital Hearing Aids Market through 2028.

Global Digital Hearing Aids Market Research Report (2023-2028) - Table of Contents

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Global Digital Hearing Aids Market Porters Five Forces Analysis
Global Digital Hearing Aids Market Trends & Insights
Global Digital Hearing Aids Market Dynamics
1. Drivers
2. Challenges
Global Digital Hearing Aids Market Growth Opportunities & Hotspots
Global Digital Hearing Aids Market Policy & Regulations
Global Digital Hearing Aids Market Analysis, 2018-2028F
1. Market Size & Outlook
  1. Revenues (USD Million)
2. Market Share & Outlook
  1. By Product
    1. Hearing Aid Devices
      1. Receiver-in-the-Ear (RITE)
      2. Behind-the-Ear (BTE)
      3. In-the-Canal (ITC)
      4. In-the-Ear (ITE)
      5. Others
    2. Hearing Implants
      1. Cochlear
      2. Bone-Conduction
  2. By Type of Hearing loss
    1. Sensorineural
    2. Conductive
    3. Mixed
  3. By Patient Type
    1. Adults
    2. Pediatrics
  4. By Region
    1. North America
    2. South America
    3. Europe
    4. Middle East & Africa
    5. Asia-Pacific
  5. By Company
    1. Market Share
    2. Competition Characteristics
North America Digital Hearing Aids Market Analysis, 2018-2028F
1. Market Size & Outlook
  1. Revenues (USD Million)
2. Market Share & Outlook
  1. By Product
  2. By Type of Hearing Loss
  3. By Patient Type
  4. By Country
    1. The US
    2. Canada
    3. Mexico
3. The US Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
4. Canada Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
5. Mexico Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
South America Digital Hearing Aids Market Analysis, 2018-2028F
1. Market Size & Outlook
  1. Revenues (USD Million)
2. Market Share & Outlook
  1. By Product
  2. By Type of Hearing Loss
  3. By Patient Type
  4. By Country
    1. Brazil
    2. Argentina
    3. Rest of South America
3. Brazil Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
4. Argentina Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
Europe Digital Hearing Aids Market Analysis, 2018-2028F
1. Market Size & Outlook
  1. Revenues (USD Million)
2. Market Share & Outlook
  1. By Product
  2. By Type of Hearing Loss
  3. By Patient Type
  4. By Country
    1. The UK
    2. Germany
    3. Italy
    4. France
    5. Spain
    6. Rest of Europe
3. The UK Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
4. Germany Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
5. Italy Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
6. France Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
7. Spain Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
The Middle East & Africa Digital Hearing Aids Market Analysis, 2018-2028F
1. Market Size & Outlook
  1. Revenues (USD Million)
2. Market Share & Outlook
  1. By Product
  2. By Type of Hearing Loss
  3. By Patient Type
  4. By Country
    1. GCC
    2. South Africa
    3. Rest of the Middle East & Africa
3. GCC Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
4. South Africa Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
Asia-Pacific Digital Hearing Aids Market Analysis, 2018-2028F
1. Market Size & Outlook
  1. Revenues (USD Million)
2. Market Share & Outlook
  1. By Product
  2. By Type of Hearing Loss
  3. By Patient Type
  4. By Country
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Australia
    6. Rest of Asia-Pacific
3. China Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
4. India Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
5. Japan Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
6. South Korea Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
7. Australia Digital Hearing Aids Market Analysis, 2018-2028F
  1. Market Size & Outlook
    1. Revenues (USD Million)
  2. Market Share & Outlook
    1. By Product
    2. By Type of Hearing Loss
    3. By Patient Type
Global Digital Hearing Aids Market Key Strategic Imperatives for Success & Growth
Competitive Benchmarking
1. Competition Matrix
  1. Product Portfolio
  2. Target Markets
  3. Target End Users
  4. Research & Development
  5. Strategic Alliances
  6. Strategic Initiatives
2. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
  1. Audina Hearing Instruments Inc.
  2. Cochlear Ltd.
  3. Demant A/S
  4. Elkon Pvt. Ltd.
  5. GN Store Nord A/S
  6. MED-EL
  7. Nurotron Biotechnology Co. Ltd.
  8. Rion Co. Ltd.
  9. Sanova Group
  10. Starkey
  11. Unitron
  12. WS Audiology A/S
  13. Others
Disclaimer

Digital Hearing Aids Market Segmentation Slide

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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