Europe Hearing Aids Market size was around USD 2.12 billion in 2018. It is expected to grow at a CAGR of 7.1% to reach USD 2.98 billion by 2023


Posted October 27, 2018 by sandycool

The major companies in this market include GN Store Nord A/S (Denmark), Cochlear Limited (Australia), MED-EL (Austria), SeboTek Hearing Systems

 
Overview:

Hearing loss is a partial or total inability to listen. Hearing aids are sound amplification devices designed to help the hearing impaired. Almost all hearing aids share many similar electronic components, including a microphone that picks up sound with an amplifier circuit to improve the sound, a miniature speaker (receiver) that transmits amplified sound to the ear canal ring electronic parts

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Europe Hearing Aids Market size was around USD 2.12 billion in 2018. It is expected to grow at a CAGR of 7.1% to reach USD 2.98 billion by 2023. 

Drivers and Restraints:

Rising incidence of hearing disorders among the geriatric population, hearing disabilities in new born infants is the biggest concern of the region, technological advancements have increased the demand for expensive hearing aids, high disposable income of consumers in some developing countries. However restraints are high cost for hearing aid devices is hindering the growth of the market.

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Geographic Segmentation

The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Europe will continue to lead the global market in the aforementioned forecast period. UK is the leading player in the region. The large share of Europe can be attributed to factors such as growing geriatric population base, increasing prevalence of hearing loss in the region, and high purchasing power of the patients. Also, the growing awareness about these healthcare devices contributes to the large share of the region.

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Major companies in the market are GN Store Nord A/S (Denmark), Cochlear Limited (Australia), MED-EL (Austria), SeboTek Hearing Systems, Starkey Hearing Technologies, Inc. (U.S.), Widex (Denmark), William Demant Holding A/S (Denmark), LLC (U.S.), Sivantos Pte. Ltd. (Singapore), Sonova (Switzerland), and Zounds Hearing, Inc. (U.S.).

 Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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Last Updated October 27, 2018