LATIN AMERICA HEARING AIDS MARKET 2020-2028

Lifesciences | Medical Devices & Consumables

LATIN AMERICA HEARING AIDS MARKET 2020-2028

Market By Types Of Hearing Loss, Types Of Patient, Product, And Geography | Forecast 2020-2028

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According to Triton Market Research, the hearing aids market in Latin America is set to flourish with 6.68% CAGR over the forecasting period 2020-2028.



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The countries reviewed in the Latin American hearing aids market are:

           Brazil

           Mexico

           Rest of Latin America

Latin America’s aging population has been on the surging trend over the past few years, which is primarily driving the hearing aids market growth in the region. The elderly population forms a large consumer base for hearing aids as they use these devices to support their hearing functionality. Thus, the rising geriatric populace is helping the Latin American market’s growth. According to the CIA, the fertility rate among Brazilians has been rapidly declining, since the 1960s, which, in turn, is slowing the rate of population growth. This has resulted in a substantial increase in the country’s aged population.

Moreover, a large number of people in Latin America suffer from hearing loss. According to the WHO, pneumococcal meningitis is one of the primary factors that lead to hearing loss. The rise in the occurrence of pneumococcal or bacterial meningitis has been estimated to increase the occurrence of hearing loss, thereby driving the adoption of hearing aids.

The Center for Disease Control and Prevention states that pneumococcal meningitis is highly prevalent in Brazil, with approx. 45.8 cases per 1, 00,000 individuals annually. In New Mexico, nearly 20.8% of adults were reported to be suffering from hearing loss between 2014 and 2016. This is expected to enhance the adoption of hearing aids in Latin America, driving the regional market growth, in turn.

Founded in 1967, Starkey designs, distributes, and develops comprehensive hearing systems. NuEar, Starkey, and Audibel are the brands under which the company sells its products. Starkey has 22 operation centers and conducts its business in over a hundred countries across the world.

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Table of Content

1.    LATIN AMERICA HEARING AIDS MARKET - SUMMARY

2.    INDUSTRY OUTLOOK

2.1. PORTER’S FIVE FORCES MODEL

2.1.1.   THREAT OF NEW ENTRANTS

2.1.2.   THREAT OF SUBSTITUTE

2.1.3.   BARGAINING POWER OF BUYER

2.1.4.   BARGAINING POWER OF SUPPLIER

2.1.5.   INTENSITY OF COMPETITIVE RIVALRY

2.2. SUPPLY CHAIN ANALYSIS

2.3. KEY INSIGHT

2.4. KEY BUYING CRITERIA

2.5. REGULATORY FRAMEWORK

2.6. MARKET ATTRACTIVENESS INDEX

2.7. MARKET DRIVERS

2.7.1.   POTENTIAL FOR HEARING AIDS IN EMERGING ECONOMIES

2.7.2.   ADVANCEMENT IN TECHNOLOGY

2.7.3.   INCREASING GERIATRIC POPULATION

2.8. MARKET RESTRAINTS

2.8.1.   LOW PENETRATION AND ADOPTION OF HEARING AIDS

2.8.2.   HIGH COST OF DEVICES ASSOCIATED WITH HEARING AIDS

2.9. MARKET OPPORTUNITIES

2.9.1.   ADOPTION OF LITHIUM-ION BATTERIES

2.9.2.   GROWING OCCURRENCE OF HEARING LOSS

2.10.  MARKET CHALLENGES

2.10.1. LACK OF REIMBURSEMENT

2.10.2. LACK OF AWARENESS

3.    HEARING AIDS MARKET OUTLOOK - BY TYPES OF HEARING LOSS

3.1. SENSORINEURAL HEARING LOSS

3.2. CONDUCTIVE HEARING LOSS

4.    HEARING AIDS MARKET OUTLOOK - BY TYPES OF PATIENT

4.1. ADULTS

4.2. PEDIATRICS

5.    HEARING AIDS MARKET OUTLOOK - BY PRODUCT

5.1. HEARING AIDS DEVICES

5.2. HEARING IMPLANTS

6.    HEARING AIDS MARKET – LATIN AMERICA

6.1. COUNTRY ANALYSIS

6.1.1.   BRAZIL

6.1.2.   MEXICO

6.1.3.   REST OF LATIN AMERICA

7.    COMPANY PROFILES

7.1. AMPLIFON

7.2. ARPHI ELECTRONICS PVT LTD

7.3. AUDINA HEARING INSTRUMENTS INC

7.4. COCHLEAR LTD

7.5. GN STORE NORD A/S

7.6. HORENTEK

7.7. MED-EL

7.8. MICROSON

7.9. RION CO LTD

7.10. SEBOTEK HEARING SYSTEMS LLC

7.11.  SIEMENS AG

7.12.  SONOVA

7.13.  STARKEY

7.14.  DEMANT A/S

7.15.  ZOUNDS HEARING

8.    RESEARCH METHODOLOGY & SCOPE

8.1. RESEARCH SCOPE & DELIVERABLES

8.1.1.   OBJECTIVES OF STUDY

8.1.2.   SCOPE OF STUDY

8.2. SOURCES OF DATA

8.2.1.   PRIMARY DATA SOURCES

8.2.2.   SECONDARY DATA SOURCES

8.3. RESEARCH METHODOLOGY

8.3.1.   EVALUATION OF PROPOSED MARKET

8.3.2.   IDENTIFICATION OF DATA SOURCES

8.3.3.   ASSESSMENT OF MARKET DETERMINANTS

8.3.4.   DATA COLLECTION

8.3.5.   DATA VALIDATION & ANALYSIS

List of table

TABLE 1        LATIN AMERICA HEARING AIDS MARKET 2020-2028 ($ MILLION)

TABLE 2        LATIN AMERICA HEARING AIDS MARKET, BY TYPES OF HEARING LOSS, 2020-2028 ($ MILLION)

TABLE 3        LATIN AMERICA HEARING AIDS MARKET, BY TYPES OF PATIENT, 2020-2028 ($ MILLION)

TABLE 4        LATIN AMERICA HEARING AIDS MARKET, BY PRODUCTS, 2020-2028 ($ MILLION)

TABLE 5        LATIN AMERICA HEARING AIDS MARKET, BY COUNTRY, 2020-2028 ($ MILLION)

List of Figures

FIGURE 1      LATIN AMERICA HEARING AIDS MARKET 2020-2028 ($ MILLION)

FIGURE 2      SUPPLY CHAIN ANALYSIS IN HEARING AIDS INDUSTRY

FIGURE 3      KEY BUYING CRITERIA

FIGURE 4      NUMBER OF PEOPLE WITH HEARING LOSS (MILLION)

FIGURE 5    LATIN AMERICA HEARING AIDS MARKET, BY SENSORINEURAL HEARING LOSS, 2020-2028 ($ MILLION)

FIGURE 6     LATIN AMERICA HEARING AIDS MARKET, BY CONDUCTIVE HEARING LOSS, 2020-2028 ($ MILLION)

FIGURE 7      LATIN AMERICA HEARING AIDS MARKET, BY ADULTS, 2020-2028 ($ MILLION)

FIGURE 8      LATIN AMERICA HEARING AIDS MARKET, BY PEDIATRICS, 2020-2028 ($ MILLION)

FIGURE 9      LATIN AMERICA HEARING AIDS MARKET, BY HEARING AID DEVICES, 2020-2028 ($ MILLION)

FIGURE 10   LATIN AMERICA HEARING AIDS MARKET, BY HEARING IMPLANTS, 2020-2028 ($ MILLION)

FIGURE 11   BRAZIL HEARING AIDS MARKET 2020-2028 ($ MILLION)

FIGURE 12   MEXICO HEARING AIDS MARKET 2020-2028 ($ MILLION)

FIGURE 13   REST OF LATIN AMERICA HEARING AIDS MARKET 2020-2028 ($ MILLION)

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