Global Canal Hearing Aids Market 2017-2021

Global canal hearing aids market forecast

According to the canal hearing aids industry analysis, the global canal hearing aids market will grow steadily at a CAGR of around 5% by 2021. One of the primary drivers for this market is the market penetration of digital technologies for hearing aids. With the use of digital technology, the background noise can be eliminated. In some hearing aids, the background noise can be controlled by using volume controller and noise blocker. Furthermore, smartphones have been integrated with the modern applications for helping hearing impairment patients in leading a normal lifestyle. The digital hearing aids are also equipped more than one listening programs. For instance, Signia Insio Primax 7px IIC is one of the premium, digital technology based canal hearing aid device. Signia has introduced a free mobile application called TouchControl, which is compatible with iPhones and Android devices. With the use of this application, the individual can discreetly control the hearing aids using a smartphone. This technological development in the canal hearing aids market is expected to propel the market growth in the coming years.

In terms of geography, EMEA accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. This growth in the market share is mainly due to the high prevalence of hearing disorders in the region. Also, the availability of reimbursement policies in several countries in the region has played a crucial role in making the device available for the consumer. With government focussing more on the patient care the global canal hearing aids market is expected to grow exponentially.

Competitive landscape and key vendors