|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The bone conduction hearing aids market is poised to grow at a CAGR of 12% during the forecast period.
The major factors driving the studied market includes technological advancements, high incidence of hearing loss in the older population.
In the healthcare industry, the evolution of technology has been significant, primarily with respect to hearing aid devices. Many people are not aware about the changes and advancements in hearing aid devices. Currently, these devices can meet the various needs of people with hearing impairment, while providing comfort.
According to the World Health Organization (WHO), an estimated 6.1% of the world population (466 million) was living with hearing loss in 2018. Added to that, 34% of this population is children only. The rising demand for minimally invasive hearing devices coupled with growing awareness regarding the availability of bone conduction hearing aids is expected to fuel the market growth over the future. Moreover, the bone conduction hearing aid provides good sound quality and lesser chances of infection compared to other hearing aid devices. However, the high cost of the devices and disadvantages such as discomfort and pain in a few cases may hamper market growth.
Scope of the Report
Bone conduction hearing aids are alternatives for the traditional hearing aid for the patients who have problems with outer/middle ears. This device works by conducting the sound waves directly to the cochlea through ear bone. This report covers come conduction hearing systems along with sound processors and accessories.
|Bone Anchored Hearing Aids|
|Traditional Bone Conduction Hearing Aids|
Key Market Trends
Bone Anchored Hearing Aids are Projected to Grow at a Healthy Rate
The bone-anchored Hearing Aid (BAHA) is a surgically implanted device designed to help people with hearing loss and bypass particular problems by sending sound vibration directly to the inner ear through the skull bone. These work best for people who have at least one inner ear that functions normally. The prevalence of hearing loss among the older population is growing and leading to the high demand for adult bone-anchored hearing aids. Furthermore, growing awareness and advancements in technology in the diagnosis of hearing loss in infants and children is expected to boost the child/pediatric bone conduction hearing aids segment growth.
The growth in healthcare infrastructure around the world and rising spending on healthcare are fuelling the adaptation of new technologies which is boosting the market growth.
The new innovations in bone conduction such as ease of use, noise reduction and increase in durability changing the phase of bone conduction hearing aids and further fuelling the market growth in the near future.
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North America is Projected to Have Significant Share
North America is projected to have a significant market share among the regions owing to well-established healthcare infrastructure and increasing healthcare expenditure. Furthermore, the growing number of patients with hearing loss and product innovations and launches in the region are projected to boost regional growth. The Asia Pacific region is expected to have notable growth rate owing to the high adaptation of new technologies. As the major companies are trying to expand to the emerging countries such as India and China, the market studied is gaining the benefits due to the same in Asia-Pacific region. Furthermore, the presence of a large number of patient pool living with hearing loss coupled with growing awareness regarding the hearing loss expected to boost the regional share over the period.
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The bone conduction hearing aids market is highly consolidated and few numbers of market players. Market players are focusing on product innovations and new product launches to expand their market share. The key market players operating in urgent care centres include Cochlear Limited, Oticon Medical, Medtronic plc, MED-EL and BHM-Tech Produktionsgesellschaft mbH among others.
In September 2021, Oticon Medical announced the launch of Ponto 5 Mini. With its revolutionary approach to feedback, this new sound processor takes the open sound experience, first introduced with the groundbreaking OpenSound Navigator to change bone anchored hearing aid users experience.
In March 2021, Cochlear Limited announced that U.S. Food and Drug Administration (FDA) clearance of the new Cochlear Baha 6 Max bone conduction sound processor, designed to improve hearing outcomes for people with SSD (single-sided deafness), conductive or mixed hearing loss.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technological Advancements in Bone Conduction Growing incidence of Hearing Loss in Geriatrics
4.2.2 Increasing Healthcare Spending and Demand for Hearing Bone Conduction Hearing Aids
4.3 Market Restraints
4.3.1 Disadvantages Such as Discomfort and Pain
4.3.2 High Cost of Bone Conduction Hearing Aids
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Bone Anchored Hearing Aids
5.1.2 Traditional Bone Conduction Hearing Aids
5.2 By Product
5.2.3 Sound Processors
5.3 Patient Type
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.4.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Cochlear Limited
6.1.2 Oticon Medical
6.1.3 Medtronic plc
6.1.5 BHM-Tech Produktionsgesellschaft mbH
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Bone Conduction Hearing Aids Market market is studied from 2018 - 2026.
What is the growth rate of Bone Conduction Hearing Aids Market?
The Bone Conduction Hearing Aids Market is growing at a CAGR of 12% over the next 5 years.
Which region has highest growth rate in Bone Conduction Hearing Aids Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Bone Conduction Hearing Aids Market?
North America holds highest share in 2020.
Who are the key players in Bone Conduction Hearing Aids Market?
Cochlear Limited, Oticon Medical, Medtronic plc, MED-EL, BHM-Tech Produktionsgesellschaft mbH are the major companies operating in Bone Conduction Hearing Aids Market.