Global Hearing Aid Market Analysis
World’s leading hearing aid manufacturers in the world are forecast to witness an accelerated growth over the next few years driven by increasing population who experience loss of hearing and growing adoption of hearing amplification devices. This latest market research report, global hearing aid market report indicates that the industry is likely to grow to market size of more than $2.3 billion by the end of 2022.
With the recent advancements in technology and the hearing healthcare industry, the top hearing aid companies are focusing extensively on developing the best hearing aids to consolidate their market shares in the global hearing aid market. Several leading hearing aid manufacturers are investing heavily on R&D to cater to the surging demand for best quality hearing amplification devices. EMEA region is expected to offer the largest growth potential for the best hearing aid brands owing to growing number of strategic collaborations between the top hearing aid companies.
For more information about the global hearing aid market size, top hearing aid manufacturers, and future trends in this market, check Technavio’s Global Hearing Aid Market Report 2018-2022, or request your Global Hearing Aid Market Report Sample for FREE
Which is the best hearing aid manufacturing company?
The top hearing aid manufacturers are poised for a stellar growth over the next five years owing to technological advancements that have resulting in the development of the best hearing aids and hearing amplification devices. Most of the hearing aid manufacturers are geared to produce hearing aids that are equipped with rechargeable batteries as these types of hearing amplification devices are gaining immense traction in the industry. Moreover, the top hearing aid brands are focusing on developing the best hearing aids that are highly advanced in feature and offer better power backup with the help of lithium-ion batteries than the traditional rechargeable batteries.
Read more: Hearing Aid Business is a New Billionaire Maker, Thanks to the Market Growth
Top 7 Hearing Aid Manufacturers Leading the Global Hearing Aid Market 2018
1. Cochlear
Cochlear is one of the largest hearing aid manufacturers on the list of hearing aid companies and are world renowned for making the best hearing aids. Cochlear is among the top hearing aid manufacturers in the world and was established in 1981 at Sydney, Australia by Dig Howitt and Rick Holiday-Smith. Hailed as the best hearing aid brand, Cochlear has a presence in more than 20 countries across the globe and has more than 2,800 employees. The annual revenue of this top hearing aid company was estimated to be more than USD 1 billion at the end of 2017. Some of the best hearing aid brands owned by Cochlear are Baha, Vistafix, and Carina middle-ear implants.
2. Sonova
Sonova is a leading hearing aid manufacturer in the world and specializes in hearing healthcare solutions. Sonova was originally founded in 1947 as Phonak AG by Ernst Rihs at Stäfa, Switzerland. However, over the years after several mergers, this top hearing aid company was renamed to Sonova in 2007. Sonova regularly features among the top 7 hearing aid manufacturers in the comprehensive list of hearing aid companies and its annual revenue is believed to be around USD 2.6 billion. More than 14,000 employees are estimated to be employed worldwide by Sonova. Phonak, Hansaton, Advanced Bionics, Unitron, and AudioNova are the best hearing aid brands manufactured by Sonova.
3. GN Store Nord
Regarded as one of the best hearing aid manufacturers, GN Store Nord was established a long time back in 1869 as the Great Northern Telegraph Company in Denmark by Carl Frederik Tietgen. Presently, GN Store Nord is headquartered at Ballerup, Denmark and employs more than 5,000 professionals across the globe. GN Store Nord is one of the largest manufacturers of the best hearing aids and hearing amplification devices. The yearly revenue of GN Store Nord was about USD 1.2 billion at the end of 2017. ReSound LiNX Quattro by GN Store Nord is among the best hearing aids available in the market.
View related market report: Global Ear-Based Hearing Aids Market 2017-2021
4. Sivantos
Sivantos is among the top hearing aid manufacturers in the world with a global presence in the industry for hearing amplification devices. Sivantos was founded in 1878 and this top hearing aid company is located at Singapore. Sivantos has more than seven best hearing aid brands under the parent company and is currently headed by Ignacio Martinez. Sivantos was originally a part of the Siemens Group, however it turned into an independent hearing aid manufacturer in 2015. Sivantos has over 6,000 employees and an annual revenue of more than USD 1.3 billion. The top selling hearing aids manufactured by Sivantos are Signia, Audibene, HearUSA, TruHearing, and REXTON.
5. William Demant Holding
William Demant Holding is another leading hearing aid manufacturer from Denmark on the list of hearing aid companies across the globe. Willam Demant Holding was founded in 1904 by Hans Demant under the brand name Oticon. In 1910, his son, William Demant took over the company and presently William Demant Holding is headquartered at Smørum, Denmark with an annual revenue of almost USD 2 billion. William Demant Holding employs around 14,000 across the globe and is regarded as one of the best hearing aid brands. Oticon, Bernafon, Neurelec, and Sonic Innovations are some of the best hearing aid brands made by William Demant Holding Group.
View related market report: Global Hearing Protection Devices Market 2017-2021
6. Starkey
Starkey is one of the top hearing aid manufacturers in the world and was founded in the year 1967 by William F. Austin. Starkey specializes in hearing healthcare and hearing amplification devices and has been investing massively on research and development to manufacture the best hearing aids with stronger processors and the latest software. Starkey has over 5,000 employees working across the globe and an annual revenue of almost USD million. The best hearing aids manufactured by Starkey Labs are Livio AI, Audibel, and Nuear.
7. Widex
Widex is a leading hearing aid manufacturer with a wide range of hearing amplification devices on its product portfolio. Widex was established in 1956 by the Westermann and Tøpholm families. The current CEO of Widex is Jørgen Jensen and the top hearing aid company is headquartered at Lynge, Denmark. Widex is also credited for manufacturing the first 100% digital hearing aid in 1995 and employs around 4,000 professionals across more than 100 countries in the world. The annual revenue of this top hearing aid manufacturing company was estimated to be around USD 650 million at the end of 2017. Widex Evoke, Beyond, and Com-Dex are the best hearing aid brands made by Widex.
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Global Hearing Aid Market: Outlook and Market Trends
The leading hearing aid manufacturers are foretasted to witness a rapid growth in the coming future driven by factors such as rising aged population, research and development of highly advanced hearing amplification devices. The number of people who are affected with hearing loss or difficulties in hearing is on the rise, owing to increase in geriatric population and growing levels of noise pollution. The top hearing aid companies are expected to tap this booming opportunity by offering the best hearing aids equipped with the latest technology and longer battery life.
View related market report: Global Hearing Aid Batteries Market Report 2018-2022
With the progression of digital transformations across the globe, there is intense competition among the top hearing aid manufacturers who focused on customizing their products with the introduction of comprehensive web-connected digital technology. Over the next five years, most of the top hearing aid brands manufactured by the best list of hearing aid companies will register a speedy growth in the global hearing aids market.
For more detailed global hearing aid market analysis, please check this following report:
