The growth of this market
is majorly driven by the growing preference for cell-based assays, increasing
research funding, and the growth in the number of drug discovery activities.
However, the high cost of instruments and restrictions on reagent use are the
major factors restraining the growth of this market.
The hearing aids market is expected to reach USD 9.78 Billion by 2022 from USD 6.56 Billion in 2016, at a CAGR of 7.0% from 2017 to 2022.
+ Market Dynamics
+ Rising Geriatric
+ High Prevalence of Hearing Loss
+ Technological Advancements in Hearing Aids
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The hearing aids market is segmented into hearing aid devices and hearing implants. In 2017, the hearing aid devices segment is expected to account for the largest share of the hearing aids market. Growth in this segment is majorly driven by the rising geriatric population, technological advancements in hearing devices, and the development and introduction of new and advanced products.
The hearing aid market is
segmented into adult patients and pediatric patients. The adult patients
segment is estimated to register the highest growth rate during the forecast
period. The high growth in this segment can primarily be attributed to the high
prevalence of hearing loss in this section of the population.
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