As per the research report, the size of the Europe Hearing Aid Market is predicted to be USD 2.27 billion in 2022 and is anticipated to grow at a CAGR of 7.1% to reach USD 3.2 billion by 2027. It captures 30% of the global market. Hearing loss is a partial or total inability to hear.
Rising investments on the development of innovative products with the latest technology are fueling the demand of the Europe Hearing Aid Market extensively. Increasing geriatric population is another factor leveling up the growth rate of the market. Besides, growing support from the government and non-government organizations in promoting the demand of the Europe Hearing Aid Market. The rising economy is also a common factor for the market to grow in this region. Also, an increasing number of people with hearing loss problems are accelerating the demand of the market. Increasing awareness for smart hearing aids devices is leveraging the growth of the Europe Hearing Aid Market.
However, fluctuations in the availability of various materials are eventually increasing the prices of the final products, and this is slightly hampering the growth rate of the market. Less training institutes and decreasing productivity of the products is inhibiting the demand of the Europe Hearing Aid Market. The shortage of skilled technicians and difficulty in manufacturing innovative designs remains a challenging factor for the market to grow. Failure of the systems in the real-time application is declining the growth of the Europe Hearing Aid Market.
Increasing investments in the development of smart devices in the medical sector by both public and private sectors are creating growth opportunities for the market to grow. Rising disposable income in urban areas is also one of the factors bolstering the growth rate of the European Hearing Aid Market. Growing popularity through campaigns and digital advertisements is enhancing the demand for this market. Besides, the emergence of new technologies is likely to outshine the growth of the European Hearing Aid Market. Changes in the government schemes and the launch of different policies in favor of the ordinary people are leveraging the demand of the market to the extent. Furthermore, the start of innovative features for the devices is ascribed to expand the growth rate of the Europe Hearing Aid Market.
This report has been segmented and sub-segmented the European Hearing Aids Market into the following categories:
By Hearing Loss:
Regionally, Europe Hearing Aid Market will continue to lead the global market in the forecast mentioned above period. The United Kingdom is the leading player in the region. The large share of Europe can be attributed to factors such as the growing geriatric population base, increasing prevalence of hearing the loss in the area, and the high purchasing power of the patients. Also, the increasing awareness about these healthcare devices contributes to the large share of the region.
The UK is leading the hearing aid market of this region. Factors like creating new features towards the smart hearing devices and favorable government policies for ordinary people are surging the demand of the market. Increasing awareness of smart hearing devices may also swell up the market. However, failure of the hearing systems in real-time applications and variation in the cost of the hearing devices, which may rise and fall, are hampering the market of this region. UK has distributed 1,668,877hearing instruments across the NHS and private sector.
The German Hearing Aid Market is expected to have the quickest growth rate over the analysis period. The growth is attributed due to factors like the low cost of these devices. Germany stands next to the UK in disbursing the hearing aids with 1,251,000 units of the same year, and France is projected to distribute 709,000 units, followed by Germany.
KEY MARKET PLAYERS:
Companies that are playing a prominent role in the European Hearing Aid Market profiled in this report 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.).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Hearing AID Devices
126.96.36.199 Receiver-In-The-Ear (RITE) Hearing AIDS
188.8.131.52 Behind-The-Ear (BTE) Hearing AIDS
184.108.40.206 Canal Hearing AIDS
220.127.116.11 In-The-Ear (ITE) Hearing AIDS
18.104.22.168 Other Hearing AIDS
5.1.3 Hearing Implants
22.214.171.124 Cochlear Implants
126.96.36.199 Bone-Anchored Systems
5.1.4 Y-o-Y Growth Analysis, By Product
5.1.5 Market Attractiveness Analysis, By Product
5.1.6 Market Share Analysis, By Product
5.2 Type of Hearing Loss
5.2.2 Sensorineural Hearing Loss
5.2.3 Conductive Hearing Loss
5.2.4 Y-o-Y Growth Analysis, By Type of Hearing Loss
5.2.5 Market Attractiveness Analysis, By Type of Hearing Loss
5.2.6 Market Share Analysis, By Type of Hearing Loss
5.3 End User
5.3.4 Y-o-Y Growth Analysis, By End User
5.3.5 Market Attractiveness Analysis, By End User
5.3.6 Market Share Analysis, By End User
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
220.127.116.11 By Type of Hearing Loss
18.104.22.168 By End User
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Type of Hearing Loss
184.108.40.206 By End User
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
22.214.171.124 By Type of Hearing Loss
126.96.36.199 By End User
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Sonova Holding Ag
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 William Demant Holding A/S
8.3 GN Store Nord A/S
8.4 Cochlear Limited
8.5 Sivantos Pte. Ltd.
8.6 Starkey Hearing Technologies, Inc.
8.9 Zounds Hearing, Inc.
8.10 Sebotek Hearing Systems, Llc
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
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