Hearing aid is a small device used by a hearing-impaired person to
amplify sound in order to capture it through an ear. Initially, ear
devices were designed to gather sound energy in order to pass it into
the ear canal. Modern devices are made of computerized
electroacoustic systems that help to transform sound in a more
intelligible and comfortable way. Audiologists play a vital role in
configuring these devices in order to match the frequency with the
physical features and lifestyle of the wearer. Hearing aid is not a
solution for correction of hearing loss, rather to make the sound
accessible to the ear. Various types of hearing instruments are
available in different sizes, power, and circuitry.
In terms of type of hearing loss, the canal hearing aids market has
been segmented into sensorineural hearing loss and conductive hearing
loss. The sensorineural hearing loss segment is expected to grow at
significant pace than the conductive hearing loss segment.
Sensorineural hearing loss may result in missing or damage of sensory
cells in the cochlea. With the help of hearing aids or implants, mild
to severe sensorineural hearing loss can be rectified. Based on
product type, the market has been categorized into in-the-canal,
completely-in-canal, and invisible-in-canal. In terms of end-user,
the canal hearing aids market has been segmented into adult canal
hearing aids and pediatric canal hearing aids.
High incidence of hearing loss due to noise pollution level and
rising geriatric population fuel the growth of the market. Shortage
of technical audiologists or hearing instrument specialists is
restraining the global market. Several companies are developing
devices that can be embedded in the ear and are not visible to
reduce/prevent the social disgrace associated with such devices.
Technological advancement and innovative connectivity features in
devices help users have a better quality of life. Furthermore,
introduction of digital signal processing devices, reduction in noise
devices, and enhancement of speech features are expected to fuel the
growth of the market.
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The oldest strata above 85 years is becoming the fastest growing
segment of the population in a majority of countries. This segment
would constitute approximately 8% of the world’s population aged 65
and above, and the share is 12% in developed countries. This
geriatric population is slated to grow at an exponential rate in two
of the most populous countries globally — India and China.
According to the statistics released by the World Population
Prospects: the 2012 Revision (United Nations, Department of Economic
and Social Affairs), the age group above 80 years, also referred as
‘oldest old’ in the report, was nearly 14% and is expected to
increase to 19% by 2050. On the other hand, the population rise in
under 65 age group is likely to be a mere 22%. Hence, rising
geriatric population is likely to propel the global canal hearing
aids market in the next few years.
In terms of region, the market in Europe is expected to expand at the
highest growth rate, followed by North America. Rapid rise in
geriatric population, growing incidence/increasing prevalence of
hearing loss, and high purchasing power of patients is projected to
augment the market in the region. Asia Pacific is expected to emerge
as the fastest growing market. Developing countries in Asia Pacific
such as India and China present significant expansion opportunities.
Large patient pool, increasing geriatric population, and rising noise
pollution drive the market in these countries. Increase in
hearing-related problems, increasing awareness among patients about
deafness, and expanding health care infrastructure are factors likely
to boost the growth of the market in Latin America.
Cochlear Limited, GN Store Nord A/S, MED-EL, SeboTek Hearing Systems,
LLC, Sivantos Pte. Ltd., Sonova, Starkey Hearing Technologies, Inc.,
Widex, William Demant Holding A/S, and Zounds Hearing, Inc. are the
major players operating in the canal hearing aids market.
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