North America Hearing Aid Market – Overview

The number of cases related to hearing difficulties have risen in the recent years. Market reports linked to the healthcare sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is expected to develop with an encouraging CAGR percent while earning high revenue levels.

The demand for hearing aids has increased due to rise in the level of geriatric population who have developed hearing related problems owing to age. Increase in the level of noise pollution has led has also been one of the leading factor contributing to market growth. As it has been witnessed that the noise levels, especially in urban areas have risen owing to increased traffic and other sound sources. Additionally, use of electronic music devices and prolonged exposure to such devices has elevated the risks of developing hearing disorders.

Industry Segments

The North America hearing aid industry has been segmented on the basis of products initially which comprises of completely-in-canal, in-the-canal, Receiver-in-canal, behind-the-ear, in-the-ear, single-sided hearing, tinnitus, invisible, hearing amplifiers, pocket hearing aids, made for hearing aid accessories and iPhone accessories. On the basis of end users, market is segmented into adults and pediatrics.

Detailed Regional Analysis

While considering the regional analysis of the industry, the United States is the biggest market for hearing aid in the North American region. The United States market for hearing aid is expected to grow at a motivating CAGR percent and is anticipated to earn high revenues by the end of the forecasted period. copyright is the second major market for hearing aid which is expected to grow at an optimistic CAGR.

Global Competitive Analysis

Contenders who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario. With the ability to sustain their competitive edge being one of the primary factors driving their efforts, the scope for growth in the industry appears to be promising through the forecast period. The rising affinity for diversification in the market, has indirectly enabled the players to utilize the many prospects available. This specific trend has enabled portfolio improvements along with the affinity for diversification in the sector, which has helped the market competitors tremendously in this industry. The companies in this particular industry are also trying to maintain and enhance financial liquidity that can be instrumental to invest in growth strategies as and when they become available. 

The noteworthy players in North America hearing aid market key players are, Sebotek Hearing Systems LLC, Sivantos Pvt. Ltd, GN Store Nord A/S, Med-El, Cochlear Ltd Sonova, WIDEX A/S, Starkey Hearing Technologies Inc., William Demant Holding A/S, Zounds Hearing and others.

Industry Updates:

March 2018 The leader in direct-to-consumer and OTC hearing solutions, iHEAR Medical, recently announced that it has joined forces with Atlazo Inc. to develop an advanced digital hardware platform to power iHEAR's next generation of hearing aids and hearables. The power System on Chip (SoC) ultra-low platform will deliver analytics, connectivity, machine learning and integrated power management proficiencies allowing for unparalleled energy efficiency, cost savings and size reduction. The digital hardware platform is intended to power a new ‘Hearing of Things’ standard delivering voice commands, real-time health tracking and seamless connectivity to other smart devices, together with home appliances and mobile phones. iHEAR's technology and IP will enlarge the hearing aid industry and lead the emerging hearables market. The company is a venture-backed firm devoted to the global need for reasonably priced and easily available hearing solutions.