Bone-Anchored Hearing Aids Market Size to Grow by USD 164.68 mn through 2021-2025
Technavio research projects the bone-anchored hearing aids market to grow by USD 164.68 mn, accelerating at a CAGR of almost 14% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Bone-Anchored Hearing Aids Market: Key Market Driver
One of the primary factors that will trigger the growth of the bone-anchored hearing aids market size is increasing prevalence of hearing loss. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
Bone-Anchored Hearing Aids Market: Vendor Analysis
The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Medtronic Plc, Cochlear Ltd., Demant AS, GN Store Nord AS, Sonova Holding AG, Medtronic Plc, Shengtuo Medical Technology (Shanghai) Co. Ltd., Sonova Holding AG, Starkey Laboratories Inc., and Widex AS are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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Technavio has been monitoring the global bone-anchored hearing aids market and it is expected to grow by USD 164.68 million, progressing at a CAGR of almost 14% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report
Key Trends to impact market growth
The use of robotic platforms and surgical navigation systems in MI surgeries to implant bone-anchored hearing aids is one of the key bone-anchored hearing aids market trends. Vendors in the market are focusing on developing improved robotic platforms and surgical navigation systems to improve the sales of bone-anchored hearing aids. The benefits of these systems will boost their demand among surgeons and hospitals, performing ENT procedures, during the forecast period.
Top Driver to Boost Demand for bone-anchored hearing aids market
The increasing prevalence of hearing loss is one of the primary factors driving the growth of the bone-anchored hearing aids market. The global geriatric population has been increasing significantly, indicating the rise in individuals with hearing impairment. Individuals suffering from hearing loss in developed countries can easily access specialist medical care and can afford hearing aids and implants that are expensive. However, it is difficult for patients in low-income and middle-income countries to access even basic check-up. This has induced several governments to provide reimbursement coverage for treatments, including bone-anchored hearing aids. These supportive factors will boost the sales of bone-anchored hearing aids.
Vendor Analysis: BHM-Tech Produktionsgesellschaft mbH, Cochlear Ltd. and Demant AS are key growth contributors
The market is concentrated. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BHM-Tech Produktionsgesellschaft mbH, Cochlear Ltd., Demant AS, GN Store Nord AS, MED-EL Elektromedizinische Gerate GmbH, Medtronic Plc, Shengtuo Medical Technology (Shanghai) Co. Ltd., Sonova Holding AG, Starkey Laboratories Inc., and Widex AS are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
For more insights on this market: Download a Free Sample Report
Bone-Anchored Hearing Aids Market: Key Highlights of the Report for 2021-2025
