A recent report published by Infinium Global Research on the canal hearing aids market provides in-depth analysis of segments and sub-segments in global as well as regional canal hearing aids market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional canal hearing aids market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of global canal hearing aid market According to report the global canal hearing aids market is projected to grow at a CAGR of 6.3% over the forecast period of 2018-2024.
Hearing loss may also result from genetic causes, complications at birth, certain infectious diseases, chronic ear infections, the use of particular drugs, use of the modern sound system and ultra-high definition technologies related music system, exposure to excessive noise, and aging. Canal in the ear is a tube running from the outer ear to the middle ear. New technology has developed small miniature hearing devices that are virtually unrecognizable or undetectable by normal observation.
One of the primary drivers for this market is the rising use of digital technologies for hearing aids. With the use of digital technology, the background noise can be eliminated. In some hearing aids, the background noise can be controlled by using volume controller and noise blocker. Furthermore, smartphones have been integrated with the hearing devices that help hearing impairment patients in leading a normal lifestyle. The digital hearing aids are also equipped with more than one listening programs.
According to the World Health Organization (WHO), over 5% of the world’s population suffers from disabling hearing loss totals over 360 million people across the globe. The majority of these people live in low and middle-income countries, where the access to healthcare facilities and quality of health organizations is lower than that of the United States.
On the basis of region, the canal hearing aids market is divided into North America, Europe, ASAP, and the Rest of the World (RoW). Europe is the dominant player among other regions in canal hearing market. The rapid rise in geriatric population, growing incidence prevalence of hearing loss, and high purchasing power of patients is projected to augment the market in the region. Asia Pacific is expected to grow at the highest CAGR during the forecast period, on account of improving healthcare infrastructure
The report on global canal hearing aids market covers segments such as product, type of hearing loss and patient type. On the basis of the product, the global canal hearing aids market is categorized into hearing aid devices and hearing implants. On the basis of the type of hearing loss the global canal hearing aids market is categorized into sensorineural hearing loss and conductive hearing loss. On the basis of patient type, the global canal hearing aids market is categorized into adults and pediatrics.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of XX% over the period of 2018-2024.
The report provides profiles of the companies in the global canal hearing aids market such as Zounds Hearing, Sebotek Hearing Systems, Audina Hearing Instruments, Rion, Horentek, Microson, Arphi Electronics, Sonova, William Demant, Gn Store Nord and Cochlear.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global canal hearing aids market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of canal hearing aids market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the canal hearing aids market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the canal hearing aids market to understand the present and future trends in this market and formulate their strategies accordingly.
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