Published Date : Oct 17, 2016
ALBANY, NY, Oct 17, 2016: The report titled “Global Bone Anchored Hearing Aids Market 2016-2020,” provides a holistic overview of the various factors that are influencing the global bone anchored hearing aids market. In order to calculate the market size, the report considers various factors along with the revenue generated from the sales of bone anchored hearing aids around the world. It forecasts the global bone anchored hearing aids market to report an impressive CAGR of 14.01% between 2016 and 2020.
The leading players operating in the global bone anchored hearing aids market are focusing on customizing their products as per consumer preference to gain competitive edge. Several companies such as Oticon Medical and others have been introducing products to cater to the needs of the older population. The conscious efforts of these companies to develop novel products to promote sales will aid the market’s expansion in response. The manufacturers are also focusing on developing cosmetically appealing hearing aids, to gain traction of the younger population. The customization of these medical devices is intended to help individuals adopt the most advanced and automated technologies.
Furthermore, with vendors developing newer devices to ensure better sound quality, the demand for bone anchored hearing aids is expected to increase considerably in the forthcoming years. The market is also expected to witness the introduction of digital hearing aids with the ability of improving and amplifying sound waves using natural 3D sound quality. With manufacturers gearing to offer innovative products, the market is poised to exhibit growth at a higher pace in the near future.
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The increasing demand for hearing aids is expected bolster the requirement for aesthetic aids that are almost invisible to naked eye. Canal hearing aids and cosmetic hearing aids are considerably small in size and come with diverse features. The recent advances in technology will enable the development of such hearing aids, without compromising on the sound quality. Rather the novel designs promise offering better sound quality. The report thus forecasts strong growth for the market with such developments underway.
Besides this, a granular reports of the limitations and opportunities for the market is studied in detail. For the purpose of the study, the global bone anchored hearing aids market has been segmented based on geography into the Americas, EMEA, and APAC. Among these regions, EMEA emerged dominant in the market, holding a share of 44% in the global market in 2015. The presence of leading vendors in the region has aided the dominance of the EMEA bone anchored hearing aids market.
To study the competition prevailing in the market, the report profiles companies such as Cochlear, MED-EL, William Demant, and others.
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