The latest industry report on U.S. Hearing Aids Market provides comprehensive valuable insights on the market development activities demonstrated by industry players, growth opportunities and market sizing for Telehealth, complete with analysis by key segments, leading and emerging players, and geographies. The report is titled “U.S. Hearing Aids Market Size, Share & COVID-19 Impact Analysis, By Product (Hearing Devices (BTE, ITE, RIC, CIC, Others) and Hearing Implants (Cochlear Implants, Bone Anchored Implants)), By Age (Adult and Pediatric), By Distribution Channel (Government Services, Manufacturer Owned Retail Networks, National Retailers, Independent Retailers/Small Chains, and Online Retailers), and Forecast, 2022-2029”
The U.S. hearing aids market size was USD 2.53 billion in 2020.The market is projected to grow from USD 2.65 billion in 2021 to USD 4.48 billion in 2028 at a CAGR of 7.8% in the 2021-2028 period. The sudden fall in CAGR is attributable to a decrease in demand and growth, returning to pre-pandemic levels once the pandemic is over.
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The report on U.S. Hearing Aids Market size analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period.
Drivers & Restraints
Hearing aid devices are designed to wear behind or in the ear to enhance the hearing capacity of patients suffering from hearing loss. This market is witnessing significant growth rate due to a surge in the number of patients suffering from hearing loss.
- According to the National Institute on Deafness and Other Communicable Disorders (NIDCD), approximately 15% of the total adult population in America, equating to an estimated 37.5 million people, have trouble hearing. Also, around 13% of people above 12 years of age in the U.S. suffer from some degree of hearing loss in both ears.
The growing focus on the restoration of hearing capacity, technological advancements in the hearing loss industry, and favorable regulatory policies are the key factors augmenting the growth of the market. Moreover, the increasing insurance coverage, coupled with new product launches by key players, would support market growth during the forecast period.
One of the key drivers for the market in the forecast period is the growing demand for cost-effective devices to manage hearing loss. The growing cases of hearing loss in the U.S. is projected to lead to a rise in the demand for hearing aids.
- According to the World Health Organization (WHO), hearing loss is a common disorder among the population, especially in industrialized countries. In the U.S., nearly 14-15% of the total population, or 48 million citizens, suffer from some degree of hearing loss.
These devices are commonly used for the management of hearing loss in adult and pediatric patients. Therefore, the increasing number of patients suffering from hearing loss is anticipated to support the market growth during the forecast period.
This report features an extensive study of the current market landscape and the likely future potential; associated with the U.S. Hearing Aids Market, over the next decade. The study also includes a detailed analysis of key drivers and trends within this evolving market.
Key players covered in the global U.S. Hearing Aids Market research report:
- Sonova (Stäfa, Switzerland)
- Demant A/S (Copenhagen, Denmark)
- GN Store Nord A/S (Ballerup, Denmark)
- Cochlear Ltd (Sydney, Australia)
- WS Audiology (Lynge, Denmark)
- RION Co., Ltd.(Tokyo, Japan)
- Starkey (Minnesota, U.S.)
- MED-EL (Medical Electronics) (Innsbruck, Austria)
- Other Prominent Players
Why choose our report?
- Latest Technical Advancements
- Comprehensive Report
- Historical and Current Scenario
- Potential Market Opportunities
- Extensive Product Offering
- Strong Industry Focus
- Growth Dynamics
- Value Chain Analysis
- Robust Research Methodology
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U.S. Hearing Aids Market Report covers the top key player’s data, including trades volume, price, revenue, gross profit, interview record, and business distribution, etc., these data help the buyer to know about the opponents better. This report also covers all the regions and top countries of the world, which shows a regional development position, including Industry size, volume, and value, as well as price data.
What U.S. Hearing Aids Market Report Provides:
- The report provides key statistics on the market status of the U.S. Hearing Aids Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
- The report provides a basic overview of the industry including its definition, applications, and manufacturing technology.
- The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
- The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
- The report estimates the market development trends of the U.S. Hearing Aids Market in 2022.
This report focuses on U.S. Hearing Aids Market Size, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application. Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets.
Key Points from TOC:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Global Statistics — Key Countries
- New Product Launches
- Pipeline Analysis
- Regulatory Scenario — Key Countries
- Recent Industry Developments — Partnerships, Mergers and Acquisitions
- Global U.S. Hearing Aids Market Analysis, Insights and Forecast
- Key Findings/ Summary
- Market Analysis — By Product Type
- Market Analysis — By Distribution Channel
- Market Analysis — By Countries/Sub-regions
- Competitive Analysis
- Key Industry Developments
- Global Market Share Analysis
- Competition Dashboard
- Comparative Analysis — Major Players
- Company Profiles
- Products and Services
- SWOT Analysis
- Recent developments
- Major Investments
- Regional Market Size and Demand
- Strategic Recommendations
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