LATIN AMERICA HEARING AIDS MARKET 2022-2028

Lifesciences | Medical Devices & Consumables

LATIN AMERICA HEARING AIDS MARKET 2022-2028

Market by Product, Technology, Types of Hearing Loss, Patient Type, Distribution Channel, and Country Outlook | Forecast 2022-2028

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According to Triton, the market for hearing aids in Latin America is set to grow with a 6.23% CAGR over the forecast years from 2022-2028.


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The countries reviewed in this region are:

•         Brazil

•         Mexico

•         Rest of Latin America

The Rest of Latin America region constitutes countries like Argentina, Costa Rica, Chile, Venezuela, Uruguay, and Peru. These are predominantly low-income nations, with their cumulative healthcare expenditure being much lower than Brazil’s. In 2018, Chile’s Ministry of Health highlighted the importance of increasing public awareness on hearing disabilities, highlighting the need for diagnosis in a timely manner and the adequate treatment required.

In the last decade, the Government of Ecuador formulated a new state policy concerning disability, called Ecuador Sin Barreras, to support people with disability. It also developed two main programs, Mision Manuela Espejo and Mision Joaquin Gallegos, collaborating with 14 government institutions and forming an agreement with the Government of Cuba.

Besides, in July 2018, in Purmamarca, in Argentina’s Jujuy Province, the local government, Samsung Electronics Argentina, and uSound signed an agreement to help residents detect potential hearing loss and also provide steps to help them minimize its impact. This project is called uSound for Samsung, and has provided people in the area access to a simple three-step preliminary diagnosis, which can be done through a smartphone. Such growing awareness and technological developments are expected to positively impact the market for hearing aids, and eventually boost its growth over the forthcoming period.

Starkey is engaged in designing and developing comprehensive hearing systems. The company develops these products following an evidence-based design approach. The company has three brands, NuEar, Starkey, and Audibel, through which it develops, manufactures, and distributes hearing aid products. It has a business presence in more than 100 markets around the world, with 22 operations centers. Founded in 1967, the company has a highly skilled and trained workforce of more than 5,000 employees, who help Starkey in advancing its product portfolio.

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Table of Content

1. LATIN AMERICA HEARING AIDS MARKET – SUMMARY

2. INDUSTRY OUTLOOK

2.1. IMPACT OF COVID-19 ON THE HEARING AIDS MARKET

2.2. KEY INSIGHTS

2.3. PORTER’S FIVE FORCES MODEL

2.3.1. THREAT OF NEW ENTRANTS

2.3.2. THREAT OF SUBSTITUTE

2.3.3. BARGAINING POWER OF BUYER

2.3.4. BARGAINING POWER OF SUPPLIER

2.3.5. INTENSITY OF COMPETITIVE RIVALRY

2.4. SUPPLY CHAIN ANALYSIS

2.5. KEY BUYING CRITERIA

2.6. MARKET ATTRACTIVENESS INDEX

2.7. VENDOR SCORECARD

2.8. KEY STRATEGIC DEVELOPMENTS

2.8.1. CONTRACTS AND PARTNERSHIPS

2.8.2. BUSINESS EXPANSIONS, ANNOUNCEMENTS, AND DIVESTITURES

2.8.3. ACQUISITIONS & MERGERS

2.8.4. NEW PRODUCT LAUNCHES & DEVELOPMENTS

2.9. MARKET DRIVERS

2.9.1. INCREASING OCCURRENCE OF HEARING LOSS WORLDWIDE

2.9.2. RISING INITIATIVES AND AWARENESS ABOUT HEARING AID DEVICES

2.10. MARKET CHALLENGES

2.10.1. LOW PENETRATION AND ADOPTION OF HEARING AIDS

2.10.2. HIGH COST OF DEVICES ASSOCIATED WITH HEARING AIDS

2.10.3. PRESENCE OF COST-EFFECTIVE ALTERNATIVES TO HEARING AID DEVICES

2.11. MARKET OPPORTUNITIES

2.11.1. POTENTIAL FOR HEARING AIDS IN EMERGING ECONOMIES

2.11.2. ADVANCEMENT IN TECHNOLOGY

3. LATIN AMERICA HEARING AIDS MARKET – BY PRODUCT

3.1. HEARING AID DEVICES

3.1.1. BEHIND-THE-EAR (BTE)

3.1.2. IN-THE-CANAL (ITC) AND COMPLETELY-IN-THE-CANAL (CIC)

3.1.3. IN-THE-EAR (ITE)

3.1.4. OTHER HEARING AID DEVICES

3.2. HEARING IMPLANTS

3.2.1. COCHLEAR IMPLANTS

3.2.2. BONE-ANCHORED SYSTEMS

4. LATIN AMERICA HEARING AIDS MARKET – BY TECHNOLOGY

4.1. DIGITAL HEARING AIDS

4.2. CONVENTIONAL HEARING AIDS

5. LATIN AMERICA HEARING AIDS MARKET – BY TYPES OF HEARING LOSS

5.1. SENSORINEURAL HEARING LOSS

5.2. CONDUCTIVE HEARING LOSS

6. LATIN AMERICA HEARING AIDS MARKET – BY PATIENT TYPE

6.1. ADULTS

6.2. PEDIATRICS/CHILDREN

7. LATIN AMERICA HEARING AIDS MARKET – BY DISTRIBUTION CHANNEL

7.1. AUDIOLOGY AND ENT CLINICS

7.2. PHARMACIES

7.3. HOSPITALS

8. LATIN AMERICA HEARING AIDS MARKET – COUNTRY OUTLOOK

8.1. BRAZIL

8.2. MEXICO

8.3. REST OF LATIN AMERICA

9. COMPANY PROFILES

9.1. AMPLIFON

9.2. ARPHI ELECTRONICS PVT LTD

9.3. AUDINA HEARING INSTRUMENTS INC

9.4. COCHLEAR LTD

9.5. GN STORE NORD AS

9.6. HORENTEK

9.7. MED EL

9.8. MICROSON

9.9. RION CO LTD

9.10. SEBOTEK HEARING SYSTEMS LLC

9.11. SIEMENS AG

9.12. SONOVA

9.13. STARKEY

9.14. DEMANT AS

9.15. ZOUNDS HEARING

10. RESEARCH METHODOLOGY & SCOPE

10.1. RESEARCH SCOPE & DELIVERABLES

10.1.1. OBJECTIVES OF STUDY

10.1.2. SCOPE OF STUDY

10.2. SOURCES OF DATA

10.2.1. PRIMARY DATA SOURCES

10.2.2. SECONDARY DATA SOURCES

10.3. RESEARCH METHODOLOGY

10.3.1. EVALUATION OF PROPOSED MARKET

10.3.2. IDENTIFICATION OF DATA SOURCES

10.3.3. ASSESSMENT OF MARKET DETERMINANTS

10.3.4. DATA COLLECTION

10.3.5. DATA VALIDATION & ANALYSIS

List of Tables

TABLE 1: LATIN AMERICA HEARING AIDS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

TABLE 2: VENDOR SCORECARD

TABLE 3: LIST OF CONTRACTS AND PARTNERSHIPS

TABLE 4: LIST OF BUSINESS EXPANSIONS, ANNOUNCEMENTS & DIVESTITURES

TABLE 5: LIST OF ACQUISITIONS & MERGERS

TABLE 6: LIST OF NEW PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 7: LATIN AMERICA HEARING AIDS MARKET, BY PRODUCT, 2022-2028 (IN $ MILLION)

TABLE 8: LATIN AMERICA HEARING AID DEVICES MARKET, BY TYPES, 2022-2028 (IN $ MILLION)

TABLE 9: LATIN AMERICA HEARING IMPLANTS MARKET, BY TYPES, 2022-2028 (IN $ MILLION)

TABLE 10: LATIN AMERICA HEARING AIDS MARKET, BY TECHNOLOGY, 2022-2028 (IN $ MILLION)

TABLE 11: LATIN AMERICA HEARING AIDS MARKET, BY TYPES OF HEARING LOSS, 2022-2028 (IN $ MILLION)

TABLE 12: LATIN AMERICA HEARING AIDS MARKET, BY PATIENT TYPE, 2022-2028 (IN $ MILLION)

TABLE 13: LATIN AMERICA HEARING AIDS MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $ MILLION)

TABLE 14: LATIN AMERICA HEARING AIDS MARKET, COUNTRY OUTLOOK, 2022-2028 (IN $ MILLION)

List of Figures

FIGURE 1: SUPPLY CHAIN ANALYSIS IN THE HEARING AIDS INDUSTRY

FIGURE 2: LATIN AMERICA HEARING AIDS MARKET, BY PRODUCT, 2021 & 2028 (IN %)

FIGURE 3: LATIN AMERICA HEARING AIDS MARKET, BY HEARING AID DEVICES, 2022-2028 (IN $ MILLION)

FIGURE 4: LATIN AMERICA HEARING AID DEVICES MARKET, BY BEHIND-THE-EAR (BTE), 2022-2028 (IN $ MILLION)

FIGURE 5: LATIN AMERICA HEARING AID DEVICES MARKET, BY IN-THE-CANAL (ITC) AND COMPLETELY-IN-THE-CANAL (CIC), 2022-2028 (IN $ MILLION)

FIGURE 6: LATIN AMERICA HEARING AID DEVICES MARKET, BY IN-THE-EAR (ITE), 2022-2028 (IN $ MILLION)

FIGURE 7: LATIN AMERICA HEARING AID DEVICES MARKET, BY OTHER HEARING AID DEVICES, 2022-2028 (IN $ MILLION)

FIGURE 8: LATIN AMERICA HEARING AIDS MARKET, BY HEARING IMPLANTS, 2022-2028 (IN $ MILLION)

FIGURE 9: LATIN AMERICA HEARING IMPLANTS MARKET, BY COCHLEAR IMPLANTS, 2022-2028 (IN $ MILLION)

FIGURE 10: LATIN AMERICA HEARING IMPLANTS MARKET, BY BONE-ANCHORED SYSTEMS, 2022-2028 (IN $ MILLION)

FIGURE 11: LATIN AMERICA HEARING AIDS MARKET, BY TECHNOLOGY, 2021 & 2028 (IN %)

FIGURE 12: LATIN AMERICA HEARING AIDS MARKET, BY DIGITAL HEARING AIDS, 2022-2028 (IN $ MILLION)

FIGURE 13: LATIN AMERICA HEARING AIDS MARKET, BY CONVENTIONAL HEARING AIDS, 2022-2028 (IN $ MILLION)

FIGURE 14: LATIN AMERICA HEARING AIDS MARKET, BY TYPES OF HEARING LOSS, 2021 & 2028 (IN %)

FIGURE 15: LATIN AMERICA HEARING AIDS MARKET, BY SENSORINEURAL HEARING LOSS, 2022-2028 (IN $ MILLION)

FIGURE 16: LATIN AMERICA HEARING AIDS MARKET, BY CONDUCTIVE HEARING LOSS, 2022-2028 (IN $ MILLION)

FIGURE 17: LATIN AMERICA HEARING AIDS MARKET, BY PATIENT TYPE, 2021 & 2028 (IN %)

FIGURE 18: LATIN AMERICA HEARING AIDS MARKET, BY ADULTS, 2022-2028 (IN $ MILLION)

FIGURE 19: LATIN AMERICA HEARING AIDS MARKET, BY PEDIATRICS/CHILDREN, 2022-2028 (IN $ MILLION)

FIGURE 20: LATIN AMERICA HEARING AIDS MARKET, BY DISTRIBUTION CHANNEL, 2021 & 2028 (IN %)

FIGURE 21: LATIN AMERICA HEARING AIDS MARKET, BY AUDIOLOGY AND ENT CLINICS, 2022-2028 (IN $ MILLION)

FIGURE 22: LATIN AMERICA HEARING AIDS MARKET, BY PHARMACIES, 2022-2028 (IN $ MILLION)

FIGURE 23: LATIN AMERICA HEARING AIDS MARKET, BY HOSPITALS, 2022-2028 (IN $ MILLION)

FIGURE 24: BRAZIL HEARING AIDS MARKET 2022-2028 (IN $ MILLION)

FIGURE 25: MEXICO HEARING AIDS MARKET 2022-2028 (IN $ MILLION)

FIGURE 26: REST OF LATIN AMERICA HEARING AIDS MARKET 2022-2028 (IN $ MILLION)

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