Hearing aid industry is going digital; the digital revolution has changed the structure of the hearing aid industry. The market is following the trend towards open and cosmetically attractive mini-instruments. The low penetration rates represent a significant growth opportunity for the hearing aid manufacturers. Typically, the hearing aid market is segmented based on geography and product/price categories. Behind-the-ear (BTE) instruments constitute more than half of the overall US market.
Technology holds the key to higher penetration in mature markets. Technological advances in hearing aids and hearing assistive technologies (HATS) are major growth drivers. Ageing population is also driving the hearing aid market. The majority of hearing aids are sold to people aged 65 or above, living in Western Europe and North America.
The report analyzes the worldwide hearing aid industry with focus on US market. It also highlights major market trends and growth drivers. It gives an overview of the regulatory environment in the US. The report also profiles major players in the market and the competitive landscape.