Growing incidences of hearing loss worldwide combined with rise in the aging population have significantly propelled the demand for hearing aids and implants
Date: 9 May 2016
Global Hearing Aids and Implants Market is forecast to grow at a CAGR of 6.25% during 2016 – 2021F, driven by the increasing incidences of hearing loss in both adult and children population. As per data by WHO around 360 million people worldwide have disabling hearing loss due to genetic causes, complications at birth, certain infectious diseases, chronic ear infections, the use of particular drugs, exposure to excessive noise and ageing.
While hearing aids are holding major market globally due to mild to severe hearing loss among major population, technological advancements have led to the growth of hearing implants which is expected to grow faster in the future. Among the regions, Europe holds the major market due to highly active aging population with higher disposable income as well as favourable reimbursement policies. However, among emerging markets, Asia Pacific is expected to grow the highest due to the growth in aging population as well as per capita health expenditure.
According to Azoth Analytics research report, “Global Hearing Aids and Implants Market: Trends, Opportunities and Forecasts (2016-2021)
- (By Region, By Sub-types: Behind-The-Ear (BTE), In-The-Ear (ITE), Receiver In-The-Ear(RITE), In-The-Canal(ITC), Completely-In-The-Canal (CIC); By Implants-Cochlear, Others; By End Purchase - Independent, Retail, Wholesale, Government; By Country - USA, Canada, Brazil, Mexico, UK, Germany, India, China, South Africa)”, Global Hearing Aids and Implants market is projected to exhibit a CAGR of over ~6.25% during 2016 - 2021. In 2016, market for hearing implants is expected to grow at a faster pace due to the increasing population with profound hearing loss as well as growing paediatric population.