Hearing Care Devices Market to Reach $12.5 Bn, Globally, by 2030 at 5.8% CAGR: Allied Market Research

Surge in geriatric population that is susceptible to hearing disorders, rise in prevalence of hearing loss, and increase in binaural fitting rate drive the growth of the global hearing care devices market.

PORTLAND, Ore., April 27, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Hearing Care Devices Market by Product (Hearing Aids, Hearing Implants), by Type of hearing loss (Sensorineural Hearing Loss, Conductive Hearing Loss), by End User (Hospitals & Clinics, Ambulatory Surgical Centers (ASCs), Home-use): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global hearing care devices industry was estimated at $7.53 billion in 2021, and is anticipated to hit $12.5 billion by 2030, registering a CAGR of 5.8% from 2021 to 2030.

Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/2130

Drivers, restraints, and opportunities-

Surge in geriatric population that is susceptible to hearing disorders, rise in prevalence of hearing loss, and increase in binaural fitting rate drive the growth of the global hearing care devices market. On the other hand, high cost of the devices and increase in drop-out rates of the patients from the treatment of hearing loss impede the growth to some extent. However, rise in adoption of technically advanced hearing care devices, such as cochlear implants is expected to create lucrative opportunities in the industry.

Covid-19 Scenario-

• Millions of elective surgeries were either postponed or canceled so to reallocate the resources to manage COVID-19 patients. This, in turn, decreased the demand for hearing care devices market, thereby impacting the market negatively.
• However, the market has already started recovering and is anticipated to get back on track soon.

The hearing aids segment to dominate by 2030-

On the basis of product, the hearing aids segment accounted for the highest market share in 2021, generating more than two-thirds of the global hearing care devices market. Growing awareness, rising burden of hearing loss, and technological advancements in hearing aids drive the segment growth. The hearing implants segment, on the other hand, is anticipated to cite the fastest CAGR of 8.13% from 2021 to 2030.

Specific Requirement on COVID-19? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/2130

The home-use segment to lead the trail-

On the basis of end user, the home-use segment generated the highest share in 2020, holding more than two-thirds of the global hearing care devices market. This is due to rise in demand for home hearing test and hearing aids across the world. The Ambulatory Surgical Centers (ASCs) segment, however, is expected to cite the fastest CAGR of 9.29% from 2021 to 2030.

North America, garnered the highest share in 2020-

On the basis of region, North America contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global hearing care devices market. The Asia-Pacific region, simultaneously, is projected to cite the fastest CAGR of 6.01% from 2021 to 2030. This is owing to growing demand for sophisticated hearing care devices, large number of healthcare reforms, high prevalence of hearing disorders, and increased focus of key players for developing technologically advanced cost-effective devices.

Prominent market players-

• American Hearing Aids
• Cochlear Ltd
• IntriCon Corporation
• GN Store Nord A/S
• amplifon
• SONOVA.
• WS Audiology
• med-electronics, inc.
• William Demant Holding A/S
• starkey hearing technologies

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter

"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

Trending Reports in Healthcare Industry (Book Now with 10% Discount):

mHealth Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Oncology/Cancer Drugs Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Healthcare IT Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

COPD and Asthma Devices Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

3D Printing Healthcare Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Advanced Wound Care Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

In Vitro Diagnostics (IVD) Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Sleep Aids Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Surgical Robotics Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

Medical Spa Market - Global Opportunity Analysis and Industry Forecast, 2020–2028

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg