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Europe Hearing Aids Market

Europe Hearing Aids Market size was around USD 1.87 billion in 2016. It is expected to grow at a CAGR of 7.1% to reach USD 2.63 billion by 2021.
Europe Hearing Aids MarketSize Worth $2.63 billion by 2021 | CAGR:
Europe Hearing Aids Market size was around USD 1.87 billion in 2016. It is expected to grow at a CAGR
of 7.1% to reach USD 2.63 billion by 2021. It captures 30% of the global market.Hearing loss is a partial
or total inability to hear. Hearing aids are sound-amplifying devices designed to aid people who have a
hearing impairment. Nearly all hearing aids share numerous close to similar electronic components,
including a microphone which picks up sound along with an amplifier circuitry for enhancing the sound,
a miniature loudspeaker (receiver) which delivers the amplified sound into the ear canal and lastly
batteries which power the electronic parts.
Apart from the obvious factor of growing incidences, the development of the Europe hearing aids
market is also affected by factors for example, increasing noise pollutions levels, High decibel exposure,
and Digital enhancement of hearing aids. The rising noise pollution worldwide has had a major impact
on the hearing ability of adults. Noise emission in heavy duty industries along with public carnivals is
likely to damage the hearing capacity of adults, thus resulting into rise in demand for hearing aids.
General practice of exposing the ear drum with loud music played on headphones or earphones is a
common factor causing hearing problems among the young demographic. Moreover, people working in
high-decibel ergonomic environments for example, airports or ordnance factories are estimated to
suffer from hearing loss due to overexposure. The demand for hearing aids is also greater among
construction worker, due to the loud drilling and dismantling work. The most recent factor fuelling the
development of enhanced hearing aids is the adding of headphone, Bluetooth, noise cancellation and
several other digital functions in the existing hearing devices. Such technological advancements have
increased the demand for expensive hearing aids with additional features.
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However, the factors that inhibit the growth of the Europe hearing aids market include, poor Diagnosis
methods, product deficits, and uncomfortable buzzing and amplification. The low battery life of hearing
aids is one of the major limitation to the demand of existing products. The consumer is left helpless and
deaf, after the battery of the aid runs out. Improper diagnosis of hearing disorders will lead to lower
adoption of hearing aids because consumer patients will continue to adjust to the hearing impairment.
The evident buzzing and feedback sounds generated by the hearing devices have proved to upset the
users, particularly the elderlies because it distracts them while having conversations with their family
and friends.
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On the basis of products, the Europe hearing aids market is segmented into hearing implants and
hearing aid devices. The hearing aid devices category is likely to command the largest share of the
market in 2016. Growing technological advancements and regulatory approvals will fuel the
development of this market segment. If we go by type of hearing loss, the market is categorized into
sensorineural and conductive. The sensorineural category is estimated to command the largest share of
this market. Growth in this category is due to the high prevalence of hearing loss. On the basis of endusers, the hearing aids market is categorized into adult and paediatric. The adult category is estimated
to command the largest share of the market in 2016. Rising aging population will propel the growth of
this market.
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On the basis of geography the market is segmented into Spain, Germany, France, UK and others. 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.
The major companies in this market include 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:
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 Hearing Loss, product and end user 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 europe market;
which includes broadly demographic, economics, and political, among other macroenvironmental 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 analyzing 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
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