NORTH AMERICA HEARING AIDS MARKET 2020-2028

Lifesciences | Medical Devices & Consumables

NORTH 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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Triton Market Research concludes the hearing aids market in North America to grow at a CAGR of 6.94% in the estimated years 2020-2028.



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The countries scrutinized in this market are:

           The United States

           Canada

The hearing aids market in the North American region is expected to surge due to the ongoing research for developing hearing aid technologies and the high occurrence of hearing loss, coupled with the rapidly aging populace. Furthermore, the supportive programs and investments to promote the adoption of hearing aid devices are also expected to push the growth of the North American hearing aids market. Statistics from the Hearing Loss Association of America suggest that approx. 48 million Americans were suffering from some degree of hearing loss in 2017. Also, 2 or 3 out of every 1000 children in the country develop this condition congenitally, with problems in either one or both the ears.

The high prevalence of hearing impairment in the United States has compelled the government to promote research in this field. The NICCD, acknowledging the needs of the majority of the people with hearing impairment, has developed new digital technology to aid in the treatment of hearing loss. With the help of this technology, it has developed new devices containing microelectronic components that have replaced conventional hearing aids based on analog circuits. The scientists at the institute have also developed a novel microphone to enhance the quality of hearing aid devices. The adoption of new, innovative technologically advanced devices would propel the growth of the US market for hearing aids.

SeboTek Hearing Systems LLC is engaged in developing, designing, manufacturing, and distributing integrated receiver-in-the-canal hearing aid devices across the world. The company offers hearing aids, moisture protection systems (MPS), ear tips, and fitting software. It works in collaboration with several medical professionals, general practitioners, universities, and research institutes to expand their product scope. The company’s hearing instruments widely use innovative digital technology that can monitor the user’s environment. Founded in 1984, SeboTek has its headquarters in Tulsa, Oklahoma (the United States).

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Table of Content

1.    NORTH 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.   ADVANCEMENT IN TECHNOLOGY

2.7.2.   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 – NORTH AMERICA

6.1. COUNTRY ANALYSIS

6.1.1.   THE UNITED STATES

6.1.2.   CANADA

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        NORTH AMERICA HEARING AIDS MARKET 2020-2028 ($ MILLION)

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

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

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

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

List of Figures

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

FIGURE 2      SUPPLY CHAIN ANALYSIS IN HEARING AIDS INDUSTRY

FIGURE 3      KEY BUYING CRITERIA

FIGURE 4      PERSON AGED 60 YEARS OR ABOVE (MILLION)

FIGURE 5      NUMBER OF PEOPLE WITH HEARING LOSS (MILLION)

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

FIGURE 7      NORTH AMERICA HEARING AIDS MARKET, BY CONDUCTIVE HEARING LOSS, 2020-2028 ($ MILLION)

FIGURE 8      NORTH AMERICA HEARING AIDS MARKET, BY ADULTS, 2020-2028 ($ MILLION)

FIGURE 9      NORTH AMERICA HEARING AIDS MARKET, BY PEDIATRICS, 2020-2028 ($ MILLION)

FIGURE 10   NORTH AMERICA HEARING AIDS MARKET, BY HEARING AIDS DEVICES, 2020-2028 ($ MILLION)

FIGURE 11   NORTH AMERICA HEARING AIDS MARKET, BY HEARING IMPLANTS, 2020-2028 ($ MILLION)

FIGURE 12   THE UNITED STATES HEARING AIDS MARKET 2020-2028 ($ MILLION)

FIGURE 13   CANADA HEARING AIDS MARKET 2020-2028 ($ MILLION)

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