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Pulished Date September, 2020
ID: 10109
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The United States Hearing Aid Market Report - Analysis on Market Size, Share, Trends and Growth Forecast (2020 to 2025)

Pulished: September, 2020
ID: 10109
Pages: 100

U.S. Hearing Aid Market Size (2020 To 2025)

The Hearing Aid market size in the United States is expected to rise at a CAGR of 8.1% from 2020 to 2025.

A hearing aid is a small amplifying device that fits the ear and helps in auditory functions. A partially deaf person wears this. It is inserted to improve one's hearing function by making a sound audible to a person with hearing loss.

In the United States, hearing aid unit sales topped in the year 2019 with an account of 4.23 million. Early screening for deafness and hearing-impaired issues are detected early in developed countries. It is encouraged by the United States government and general healthcare service. 

The senior population's rise has also been a significant concern and improved market growth as many old-aged people lost hearing time. The rapid development is seen in this market owing to its increased health care and economy. A recent technological and tools development led to the production of newer devices with various materials that have become an attraction in the market. Increased awareness about health among the population plays an essential role in the growth of healthcare and economy as well as the demand for hearing aid devices are also observed. 

In the United States, the hearing aid act was signed by Donald Trump. This hearing aid act involves the availability of over the counter hearing aids. Vendors and distributors chose e-commerce channels to develop their revenue, which plays a significant role in the hearing aid market's growth. These E-commerce websites also increase the availability of hearing aid devices in the market. 

Patient compliance is the primary back point for devices. The satisfactory results were not observed for the application of hearing aid devices. For instance, the majority of the senior population on their own cannot restart or insert the hearing aid device properly, and each time, they have to rely on someone. There are issues such as battery-related concerns in most of the hearing aid devices. In many cases, the working of hearing aid has been a significant concern, such as loop settings and microphone settings. 

COVID-19 IMPACT ON THE MARKET

Looking at the outbreak of a pandemic, COVID 19 showed negative impacts on every other market and hearing aid market. The government healthcare funds and schemes were focused and shifted to COVID relief funds and COVID management. The vendors and distributors during the COVID phase are approaching advertising platforms and E-commerce websites. However, the platforms made the sales easy and created awareness on the availability of hearing aid devices. Due to stringent lockdown regulations, the distribution of these devices in medical channels, hospitals, and pharmacies is reduced. 

COUNTRY-LEVEL ANALYSIS

The United States dominated the market due to its significant population (senior) and its vast infrastructure and healthcare services. The numbers of people aging between 50 to 65 are more in the USA and are expected to reach 60 million by 2060. The availability of hearing aid devices over the counter and easy application coupled up the growth. With its largest healthcare economy, the United States government created awareness among people about being healthy and early detection of hearing loss and deafness related issues. 

Companies playing a leading role in the U.S. hearing aid market covered in this report are GN Store Nord A/S, Cochlear Limited, MED-EL, SeboTek Hearing Systems, Starkey Hearing Technologies, Inc., Widex, William Demant Holding A/S, and Zounds Hearing, Inc. (U.S.).

1. Introduction                                 

                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                                           

                2.1 Introduction                               

                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. Overview                                       

                3.1 Executive Summary                

                3.2 Key Inferences                         

                3.3 Epidemology                              

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 Product                        

                                5.1.1 Introduction           

                                5.1.2 Hearing AID Devices            

                                                5.1.2.1 Receiver-In-The-Ear (RITE) Hearing AIDS

                                                5.2.2.2 Behind-The-Ear (BTE) Hearing AIDS

                                                5.2.2.3 Canal Hearing AIDS

                                                5.2.2.4 In-The-Ear (ITE) Hearing AIDS

                                                5.2.2.5 Other Hearing AIDS

                                5.1.3 Hearing Implants  

                                                5.1.3.1 Cochlear Implants

                                                5.1.3.2 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                              

                                5.2.1 Introduction           

                                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                      

                                5.3.1 Introduction           

                                5.3.2 Adults       

                                5.3.3 Pediatrics 

                                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 Introduction                               

                                6.1.1 Regional Trends    

                                6.1.2 Impact Analysis     

                                6.1.3 Y-o-Y Growth Analysis        

                                                6.1.3.1 By Geographical Area

                                                6.1.3.2 By Product

                                                6.1.3.3 By Type of Hearing Loss

                                                6.1.3.4 By End User

                                6.1.4  Market Attractiveness Analysis     

                                                6.1.4.1 By Geographical Area

                                                6.1.4.2 By Product

                                                6.1.4.3 By Type of Hearing Loss

                                                6.1.4.4 By End User

                                6.1.5  Market Share Analysis      

                                                6.1.5.1 By Geographical Area

                                                6.1.5.2 By Product

                                                6.1.5.3 By Type of Hearing Loss

                                                6.1.5.4 By End User

                6.2 The United States

7. Strategic Analysis                                       

                7.1 PESTLE analysis                         

                                7.1.1 Political     

                                7.1.2 Economic 

                                7.1.3 Social         

                                7.1.4 Technological         

                                7.1.5 Legal          

                                7.1.6 Environmental       

                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                  

                                8.1.1 Overview 

                                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.                   

                8.7 Widex                           

                8.8 Med-El                         

                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                                         

Appendix                                           

                a) List of Tables                

                b) List of Figures

  • Regional, and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. United States Hearing Aid Market By Products, From 2020 to 2025 ( USD Billion )
  2. United States Hearing Aid Market By Type of Hearing Loss, From 2020 to 2025 ( USD Billion )
  3. United States Hearing Aid Market By End-user, From 2020 to 2025 ( USD Billion )

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