are devices that are used to address various types of hearing loss. According to the World Health Organization’s statistics, in 2012, an estimated 5.3% of the world’s population suffered from disabling hearing loss. Disabling hearing loss refers to hearing loss greater than 40 dB in the better hearing ear in adults (15 years or older) and greater than 30 dB in the better hearing ear in children (0 to 14 years). The prevalence of hearing loss increases with age with adults over the age of 65 years being the most susceptible to this. According to the Hearing Loss Association of America, about 20% of Americans report some degree of hearing loss and one in three Americans over the age of 65 have hearing loss. With the geriatric population across the globe on the rise, there is a huge market for hearing implants. Regions such as Europe have a large population over the age of 60 and this continues to rise. In Asia Pacific, Japan is one of the leading countries in terms of the population of senior citizens over 60 years of age. Technological advancements have made hearing implants and aid more affordable and this is another factor augmenting the growth of the market.
Lack of awareness, especially in under developed and developing regions is a factor hindering the growth of the hearing implant market
. Limited reimbursements are another challenge that this market is currently facing.The Hearing Implant Market can be segmented as:
- on the basis of types as
- Cochlear Implants, Mid-ear Implants, Bone Anchored Hearing Aids (BAHA), Auditory Brainstem Implant (ABI) and Others
- In terms of product
- Receiver-In-The-Ear Hearing Aids, Behind-The-Ear Hearing Aids, Canal Hearing Aids, In-The-Ear Hearing Aids and Others
With Europe having the largest geriatric population, this region is expected to account for the largest share of the hearing implant market till the end of the forecast period considered in this report. Asia Pacific will exhibit the highest growth rate in this market.