The analysis report titled ‘Global Hearing Aid Market (2021 Edition) - Analysis By Hearing Devices (BTE, ITE, RIC, ITC and CIC), Type of Hearing Loss, Technology, Patient Type, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, opines that global hearing aid market which generated a revenue of around USD 10.3 billion in 2020 is expected to progress at a notable CAGR through 2026.

Mounting geriatric population across the globe, rising awareness regarding the benefits of hearing aids, prevalence of deafness among masses, and technological advancements are the major factors fuelling global hearing aid market growth.

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Further, population boom in various emerging and developed economies has been instrumental in expanding the market across geographies in recent years.

However, with the onset of the Covid-19 pandemic, lockdown restrictions and postponement of non -emergency surgeries to curb the spread of the virus has significantly affected the renumeration scale of the hearing aid industry of late.

Based on the type of hearing devices, the BTE (behind the ear) segment accounts for a considerable revenue share in the recent times as it is economical in nature, thereby becoming a preferred choice among consumers in developing and underdeveloped markets.

Considering type of hearing loss, the industry is divided into sensorineural, and conductive. As per technology, the marketplace is classified into digital, and analog. While patient scope ranges from adult to paediatric. The regions studied for understanding industry trends are Asia Pacific, Europe, and Americas.

Considering the competitive landscape, MED-EL, , Eargo, Starkey Hearing Technologies, Demant A/S, WS Audiology, Rion Co. Ltd., Amplifon SpA, Cochlear Ltd., GN Store Nord A/S, and Sonova Holding AG are the prominent players impacting global hearing aid market trends.

These companies are undertaking various partnership deals, acquisitions and mergers, while directing efforts to improve their production capacity to maintain a strong foothold over market dynamics.