A Hearing Aid is used to improve hearing, improving the hearing by amplifying soft sounds. Many hearing aids are digital and are powered with a hearing aid battery. Growing aging population and accelerated number of natural and accidental hearing loss incidences are some of the reasons the North American Hearing Aid Market is booming. The demand for hearing aids has increased due to rise in the level of geriatric population who have developed hearing related problems owing to age. Increase in the level of noise pollution has led has also been one of the leading factors contributing to market growth. As it has been witnessed that the noise levels, especially in urban areas have risen owing to increased traffic and other sound sources. Additionally, use of electronic music devices and prolonged exposure to such devices has elevated the risks of developing hearing disorders.
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North America Hearing Aid Market – Key Players
Some of the key players in this market are:
- Cochlear Ltd
- GN Store Nord A/S
- Med-El
- Sebotek Hearing Systems LLC
- Sivantos Pvt. Ltd
- Sonova
- Starkey Hearing Technologies Inc.
- WIDEX A/S
- William Demant Holding A/S
- Zounds Hearing
North America Hearing Aid Market – Segments
The North America Hearing Aid Market is segmented on the basis of products and end-users.
The products segment comprises receiver-in-canal, completely-in-canal, behind-the-ear, in-the-canal, in-the-ear, tinnitus, single-sided hearing, hearing amplifiers, invisible, pocket hearing aids, made for iPhone and hearing aid accessories. The behind-the-ear hearing aids segment experiences immense growth on account of high comfort levels, better connectivity, and high efficiency of the product. As the name suggests, invisible hearing aids are popular among a large number of patients as they are unseen, are compact and are apt for mild to moderately severe hearing loss. Moreover, presence of established brands also influences the market size for invisible hearing aids. Some of the brands are Siemens, Widex Menu IIC and Starkey Soundlens Synergy and many others.
The end users in the global hearing aids market are adults and pediatrics. A large percentage of adult population around the world is affected by hearing impairment, particularly in less developed economies. The inability to communicate due to this affliction leads to feeling of social exclusion, loneliness, and frustration, factors that are indirectly leading to the market growth.
North America Hearing Aid Market – Detailed Regional Analysis
While considering the regional analysis of the industry, the United States is the biggest Hearing Aid Market in the North American region. The United States market for hearing aid is expected to grow at a motivating CAGR percent and is anticipated to earn high revenues by the end of the forecasted period. Canada is the second major market for hearing aid which is expected to grow at an optimistic CAGR.
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