Global In-The-Canal (ITC) Hearing Aids Market Projected to Reach USD 12,470 Million by 2026

24-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “In-The-Canal (ITC) Hearing Aids Market By Design (Behind-the-ear (BTE), Mini BTE, In-the-ear (ITE), In-the-canal (ITC)), By Technology (Digital and Analog) and By Sales Channel  (Retail Sales, Government Purchases, and E-Commerce): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global In-The-Canal (ITC) Hearing Aids market in 2019 was approximately USD 7,730 million. The market is expected to grow at a CAGR of 7.4% and is anticipated to reach around USD 12,470 million by 2026.

Channel hearing aids are hearing aids designed to integrate with ear ducts and are ideal for adults with mild to moderate hearing loss. Such hearing aids are not approved for use in children or children. Early surface testing and delivery of hearing aids by hearing programs and local health organizations in developed and developing countries. As the health sector moves towards privatization in emerging economies, these countries have rapidly built health infrastructures. Training and a better understanding of the well-being of individuals also help to increase the demand for these tools and diagnostic services.

Browse the full “In-The-Canal (ITC) Hearing Aids Market By Design (Behind-the-ear (BTE), Mini BTE, In-the-ear (ITE), In-the-canal (ITC)), By Technology (Digital and Analog) and By Sales Channel  (Retail Sales, Government Purchases, and E-Commerce): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/in-the-canal-itc-hearing-aids-market-by-909

A number of factors are driving the global market for in-channel hearing aids (IHAs), including significant technological developments in health care, government initiatives and health care financing for better and more efficient healthcare, along with high consumer disposable incomes, particularly in developed economies. However, the hearing aid industry is oligopolistic and therefore poses a huge barrier to new entrants in the market who are struggling to cope with high initial capital expenditure (CAPEX). The greatest incentive for major players to maintain and develop in this market is to further improve their products and to provide cost-effective hearing aids for people of all ages and groups. The reasons for this are that technologically advanced adaptive care technologies and the increasing prevalence of hearing disorders owing to an increased geriatric population can increasingly be attributed to these devices. Countries around the world are focused on reducing shortages, leading to a number of awareness-raising campaigns and free treatment for patients. Governments around the world offer incentives, grants, and funding for the treatment and management of hearing impairments.

Based on the design, Behind-the-ear (BTE) segment dominated the global hearing aid market in 2019. This segment is projected to witness a significant CAGR of 8.5% throughout the forecast period. The major factors bolstering the growth of this segment are connectivity modes such as, wireless and wired, the comfort it provides to the bearer, easy cleaning and handling and much more. By technology, digital hearing aids dominated the market in 2019; this segment was accounted for approximately USD 4,600 million with a global share of 59%. The surge in demand for this segment is primarily attributable to a large number of features provided by the digital hearing air segment. On the basis of sales channels, retail stores dominated the global industry for hearing aids in 2019, owing to the presence of a larger number of retail stores worldwide, a high sales margin and a rising number of manufacturing companies.

By region, the Asia Pacific region held the major shares in 2019, owing to the rising awareness in the population regarding technological advancement in the field of hearing aids combined with the rising pervasiveness of auditory loss.

Report Scope

Some of the essential players operating in the In-The-Canal (ITC) Hearing Aids market, but not restricted to include Benson Hearing, Phonak, GN Store, Nord A/S, MED-EL, Starkey, William Demant Holding A/S, WIDEX USA, Inc., Medtronic, Sivantos Pte. Ltd, RION, Audina Hearing Instruments, Horentek, Arphi Electronics, Microson, and others.

This report segments the In-The-Canal (ITC) Hearing Aids market as follows:

Global In-The-Canal (ITC) Hearing Aids Market: By Design Segmentation Analysis

• Behind-the-ear (BTE)
• Mini BTE
• In-the-ear (ITE)
• In-the-canal (ITC)

Global In-The-Canal (ITC) Hearing Aids Market: By Technology Segmentation Analysis

• Digital
• Analog

Global In-The-Canal (ITC) Hearing Aids Market: By Sales Channel Segmentation Analysis

• Retail Sales
• Government Purchases
• E-Commerce

Global In-The-Canal (ITC) Hearing Aids Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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