Global Anti-Fungal Treatment Market size and forecast, 2020-2027

 The global anti fungal treatment market is expected to register a CAGR of6.35% during the forecast period and is expected to hit USD 25,764.67 million by 2027.

Fungi are defined as microorganisms that can stay alive in a wide array of environments. Fungi can lead to diverse infections in the human body ranging from superficial skin to systemic that enters the body through inhalation. These infections occur in the human body, usually due to high exposure to unhygienic environments of fungus or due to low immune systems.

The most common fungal infections include ringworm, athlete’s foot, and fungal nail infection Furthermore, the increasing incidence of infections such as mucormycosis, candidiasis, and others are expected to propel market growth. Furthermore, anti fungal drugs restrict fungal microorganisms from growing on the host cell and eliminate the occurrence of fungal infection. Thus, the availability of diverse anti fungal drugs for the treatment of fungal infection and over-the-counter drugs for the treatment of dermal infection is positively influencing the anti fungal drug market growth.

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Segment Analysis

The global anti fungal treatment market has been divided based on drug class, therapeutic indication, pathogen, and end user.The market, based on drug class, has been segregated into azoles, echinocandins, polyenes, allylamines, pyrimidines, and others.

Based on therapeutic indication,the anti fungal treatment market has been divided intotherapeutic indications, has been segmented into systemic, candidiasis, cryptococcosis, prophylactic use of anti fungals, and coccidioidomycosis.

Based on pathogen, the anti fungal treatment market has been divided into Candida, Aspergillus, Cryptococcus, Coccidioides immitis, Zygomycetes, Trichophyton, others.On the basis of end user, the market is bifurcated into hospitals and clinics, dermatology clinics, and others.

Regional Analysis

The global anti fungal treatment market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa. The 40.97% market share of the Americas can be attributed to the high prevalence of anti fungal diseases, research spending, and the rapid adoption of advanced treatment in the region. The availability of a large research budget is anticipated to increase the grants for researchers to develop novel products for the anti fungal treatment market.

Europe is projected to exhibit significant growth during the forecast period due to a higher number of patients and the availability of diagnostic and treatment facilities in the region.The accessibility to advanced treatment facilities, rising government initiatives to promote research to find a cure to the increasing number of cases, and growing healthcare expenditure are driving the growth of the anti fungal treatment market in the region.

Asia-Pacific is expected to be the fastest-growing regional market in anti fungal treatment, mainly due to increasing R&D funding by developing countries such as China and India for the availability of basic treatments.The market for anti fungal treatment is growing at a significant rate in the Middle East & Africa due to the increasing number of companies and subsidiaries in the region offering treatment options.

Key Findings of the Study

• The global anti fungal treatment market was valued at USD 15,835.52 millionin 2019 and is projected to register a CAGR of6.35% during the assessment period.
• The Americas accounted for the largest share of the global market due to the rising prevalence of anti fungal diseases, research spending, and the rapid adoption of advanced treatment in the region.
• Based on drug class, the azoles segment accounted for the largest market share of 41.7% in 2019
• On the basis of ther apeutic indication, the candidiasis segment is expected to register the fastest growth at a CAGR of 6.64% during the forecast period
• By pathogen, the candida segment accounted for the largest market share with a value of USD 8,176.20 million in 2019
• Based on end user, the hospitals & clinics segment accounted for the largest market share with a value of USD 7,300.92 million in 2019
• Pfizer Inc. (US), Novartis International AG (Switzerland), Sanofi S.A.(France), Merck KGaA (Germany), Bayer AG (Germany)are the key market players.

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Central Nervous System Biomarkers Market to Witness Widespread Expansion During 2020-2027

 According to MRFR analysis, the global CNS biomarkers marketis expected to register a CAGR of~13.0%from 2021 to 2027and hold a value of over ~USD 7,500 million by2027.

The global CNS biomarkers market is driven by several factors, such astechnological advancements, an increase in the use of biomarkers inthe diagnosis of neurodegenerative diseases, increasing research and development, and successful clinical trials.According to Alzheimer’s Disease International, in 2020, over 50 million people have dementia, where CNS disorders help in the diagnosis and prognosis of the disorders. Furthermore, recent technologies such as genomics and proteomics, and imaging technologies, several new biomarkers are being developed.

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The key players are involved in new product launches, strategic agreements, and joint ventures to augment their market positions. For instance, in September 2020, Siemens Healthineers (Germany) announced a strategic collaboration with Novartis Pharma AG (Switzerland) for biomarker development for Multiple Sclerosis. Furthermore, new product approvals by the FDA are supplementing the market growth. For instance, in May 2019, the N170 CNS biomarker letter of intent was accepted by the FDA for autism spectrum disorder, submitted by Roche (Switzerland) for approval.

Regional Analysis

North America is expected to dominate the CNS biomarkers market in 2021, owing to the growing geriatric population, the adoption of the latest technologies for CNS disorder treatment, and key industry players across the region. According to the US Census Bureau, the country .constitutesaround 34% of the population aged 65 andolder; this number has increased by 3.2% over a year. Among the different regions in the Americas, Maine ranks first with the highest geriatric population. This is increasing the demand for CNS biomarkers across the region sinceagingincreases the risks of brain disorders and other CNS disorders. Furthermore, companies and research institutes are constantly innovating and discovering new technologies and biomarkers. This is supported by the presence of leading key players within the region as well as increasing R&D expenditure. For instance, as of August 2020, USD 23.1 million was funded for brain-related clinical and cancer control research in the US, according to the American Cancer Society.     

In Europe, the increase in demand for personalized/precision medicine and the prevalence of neurological diseases in Europe are driving the CNS biomarkers market in the region. According to the report published in October 2020, in Europe, neurological disorders ranked third after cardiovascular diseases and cancer. Furthermore, another report published in July 2020 by King’s College London, by 2047, there will be 2.5 million cases of stroke in Europe, which is a 23% increase from 2017 data.

Asia-Pacific is expected to be the fastest-growing regional market in the forecast period due to factors such asa large customer base, high prevalence of CNS disorders, and improving healthcare infrastructure. China accounts for the highest number of stroke cases in the world, with 354 cases per 100,000 people in 2016, according to a report published in The Lancet in March 2019; this shows the immense application of CNS biomarkers in the region.

The rest of the world includes the Middle East, Africa, and Latin America. These regions are also facing an increase in neurological disorders, which is driving the CNS biomarkers market. For instance, according to a report from Alzheimer’s Disease International 2020, an estimated 6% of the 15 million older people (above the age of 50 years) in Brazil.  

Segmentation

The global CNS biomarkers market has been segmented into type, application, and end user.

By type, the market has been segregated into safety biomarker,efficacy biomarker, validation biomarker, and others. The safety biomarker segment is expected to hold a considerable share of the market in 2020due to its importance in clinical trials. The majority of the clinical trials fail due to safety and toxicity issues.

Based on application, the global CNS biomarkers market has been classified intodrug discovery & development, personalized medicine,and others. Personalized medicine witnessed high growth as the emphasis on personalized medicine increases due to more effectiveness and risk of minimal side effects than present treatments.

Based on end user,the CNS biomarkers market is classified intodiagnostic labs, hospitals&clinics and research centers. Diagnostic Labs held asignificantmarket share in 2020 due toincreasing neurological disorders across the globe and the need for diagnosis for the same.

Key Players

Some of the key players in the global CNS biomarkers marketareThermo Fisher Scientific (US), Merck & Co. (US), AbaStarMDx Inc. (US), Abiant, Inc. (US), Avacta Group plc (UK), Diagenic Asa (Norway), Banyan Biomarkers (US), Avid Radiopharmaceuticals Inc. (US), and Acumen Pharmaceuticals Inc. (US) amongothers.

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Global Companion Diagnostics for Oncology Market size and forecast, 2020-2027

 Global Companion Diagnostics for Oncology Market is expected to register a CAGR of 22.57% during the forecast period and is expected to hit USD 5,064.17 Million by 2027.

A companion diagnostic is an in vitro diagnostic medical kit. Through this test, healthcare professionals can determine whether a particular therapeutic product is effective for the patient or possess any serious side effects or risks. The key factors driving the market growth are increasing R&D and drug-diagnostic co-development, growing preference for personalized medicine, increasing global incidence of cancer, and increasing product approvals by major players. However, the lack of reimbursement in developing regions may hamper the market growth. The entry of market players in emerging economies creates growth opportunities for the companion diagnostics for the oncology market.

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Major market players are focusing on various growth strategies such as product launches, product advancements, and business expansions to cater to the growing need for personalized medicine. These product launches and business expansion drive the growth of the companion diagnostics for oncology market. For instance, in March 2020, Thermo Fisher signed a strategic agreement with Janssen Services to co-develop a companion diagnostic product related to oncology, which will support clinical trial enrollment globally. Similarly, in March 2019, Roche launched the Ventana PD-L1 (SP142) Assay in Europe as the first companion diagnostic to identify triple-negative breast cancer patients eligible for treatment with Tecentriq. Furthermore, in March 2019, Roche received the US FDA approval for its Ventana PD-L1 (SP142) assay approved as the first companion diagnostic to identify triple-negative breast cancer patients eligible for the treatment with Tecentriq in combination with Abraxane.

Segment Analysis

Global Companion Diagnostics for Oncology Market has been segmented based on products & services, technology, indication, and end user. The market, on the basis of products & services, has been segmented into assays, kits & reagents and software & services.

Based on technology, the global companion diagnostics for oncology market is segmented into polymerase chain reaction (PCR) and next-generation sequencing (NGS). The global market, on the basis of indication, has been segmented into breast cancer, lung cancer, colorectal cancer, gastric cancer, melanoma, and others.

Regional Analysis

Global Companion Diagnostics for Oncology Market, based on region, is segmented into four main regions, including the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is accounted for a major market share in 2019, whereas Asia-Pacific is projected to be the fastest-growing regional market during the forecast period.

In the global companion diagnostics for oncology market, the Americas held the largest share of 37.3% in 2019. The market growth in the Americas is due to the high prevalence rate of cancer and rising healthcare expenditure. According, to the National Institutes of Health, it was estimated that 1,735,350 new cases of cancer were diagnosed in the US in 2018. Europe acquired the second-largest market share in 2019. The Europe market is expected to register a sturdy growth rate during the forecast period due to the presence of a large number of companies, growing research and development activity to develop targeted drug therapy for a cancer patient, and the rising per capita income increasing the preference for personalized medicine. According to the European Journal of Cancer, there were around 3.9 million new cases and 1.9 million deaths from cancer in Europe in 2018. The increasing cancer population supports market growth in this region.

Asia-Pacific is anticipated to be the fastest-growing regional market during the forecast period. The rapid growth of the Asia-Pacific market is due to the growing number of cancer patients and rising presence of market players. According to the Global Cancer Observatory, around 1,157,294 cases of cancer were reported in India in 2018. Additionally, increasing research funding, rising investments by pharmaceutical and biotechnology companies, and growing awareness about personalized therapeutics in several APAC countries are expected to drive the growth of the regional market. The Middle East and Africa accounted for the least market of USD 82.64 million in 2019. The companion diagnostics for oncology market in countries such as Kuwait, the UAE, and Saudi Arabia are likely to show steady growth due to increasing cancer cases, rising drug discovery, and increasing preference for personalized medicines. Also, the growing number of hospitals, research laboratories, and increasing investment by healthcare companies in this region drives the growth of CDx in the Middle East & African countries.

Key Players

MRFR recognizes the following companies as the Key Players in the global Companion Diagnostics for Oncology Market— Agilent Technologies Inc. (US), Illumina, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), BioMérieux SA (France), Foundation Medicine (US), Archer Dx (US), Qiagen (Germany), Thermo Fisher Scientific Inc. (US), and Amoy Dx (China) and Abbott Laboratories (US).

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Biopharmaceuticals Market Analysis, Segments, Growth and Value Chain 2020-2027

 According to MRFR analysis, Biopharmaceuticals Market is expected to register a CAGR of 8.99% during the forecast period of 2019 to 2025 and was valued at USD 238,192.7 million in 2018.

Biopharmaceuticals are also known as biological, medical products, or biologics, are pharmaceutical drugs manufactured, extracted, or synthesized using biological sources, such as bacteria, yeast, and mammalian cells.

The global biopharmaceuticals market is growing owing to various factors such as increasing investment by major companies on research & development of biopharmaceuticals and increasing acceptance for biopharmaceuticals due to their ability to treat the previously untreatable diseases. Furthermore, the number of geriatric populations is, tremendously, the incidence rate of chronic diseases is also high, and technological advancements are growing which are also expected to fuel the market growth. However, the entry of low-cost biosimilars, risk of side effects that can occur due to high usage of biopharmaceuticals, and stringent government regulations are expected to pose as restraints to the growth of the global biopharmaceuticals market.

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Several market players currently dominate the global biopharmaceuticals market. The key players are involved in product launches and acquisitions to strengthen their market positions.

Segmentation

The global biopharmaceuticals market has been segmented based on product type and application.

The global biopharmaceuticals market has been segmented, on the basis of product type, into monoclonal antibodies, recombinant growth factors, purified proteins, recombinant proteins, recombinant hormones, vaccines, synthetic immunomodulators, and others. The recombinant growth factors has been further bifurcated into erythropoietin and granulocyte colony-stimulating factor. The purified proteins segment has been further classified as leukemia inhibitory factor (LIF), P53 protein, P38 protein, and others. The recombinant proteins segment has been further divided into serum albumin, amyloid protein, defensin, transferrin, and others. Vaccines have also been segregated into recombinant vaccines, conventional vaccines, and others. The recombinant vaccines have been further sub-segmented into cancer vaccines, malaria vaccines, Ebola vaccines, hepatitis B vaccines, tetanus vaccines, diphtheria vaccines, cholera vaccines, and others. Conventional vaccines have been categorized as polio vaccines, pox vaccines, and others. Synthetic immunomodulators segment has been further divided into cytokines, interferons, interleukins, tumor necrosis factor (TNF), and others. Monoclonal antibodies segment is anticipated to hold the largest market share in the global biopharmaceutical market due to the increasing number of research activities that are supported by the usage of monoclonal antibodies. Vaccines are expected to grow at the fastest CAGR owing to the rising awareness of chronic diseases.

The market based on application has been segmented into oncology, inflammatory & infectious diseases, autoimmune disorders, metabolic disorders, hormonal disorders, disease prevention, cardiovascular diseases, neurological diseases, and others. The oncology segment is expected to hold the largest share of the market due to the high prevalence of cancer. In 2019, 606,880 cancer-related deaths occurred in the US. The neurological diseases segment is expected to grow at the fastest CAGR owing to the rising prevalence of neurological disorders such as Parkinson’s disease and epilepsy. Nearly 60,000 people in America are diagnosed with Parkinson’s disease every year.

Key Players

Some of the key players in the Global Biopharmaceuticals Market are Pfizer Inc. (US), Amgen Inc. (US), Eli Lilly and Company (US), F. Hoffmann-La Roche Ltd (Switzerland), Johnson & Johnson (US), Gilead Sciences, Inc. (US), AstraZeneca (UK), Abbvie Inc. (US), Sanofi (France), Bristol-Myers Squibb Company (US), Sandoz International GmbH (Germany), Novo Nordisk A/S (Denmark), GlaxoSmithKline PLC (UK), Merck KGaA (Germany), and Biocon (India).

Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of chronic diseases. The biopharmaceuticals market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European biopharmaceuticals market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The biopharmaceuticals market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing patient pool suffering from various chronic diseases and a supportive regulatory framework, the market in Asia-Pacific is expected to be the fastest-growing. The biopharmaceuticals market in the Middle East & Africa has been divided into the Middle East and Africa.

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Research report explores the Gene Therapy Market for the forecast period, 2020-2027

 According to MRFR analysis, the global gene therapy market is expected to register a CAGR of 40.7% during the forecast period of 2019 to 2025 and was valued at USD 524 million in 2018.

Gene therapy is a technique in which a piece of DNA is incorporated into the cell via a vector. The key players are investing in the manufacturing of cell and gene therapy treatments due to its target specificity. The gene therapy is mainly of two types, somatic gene therapy, and germline gene therapy, depending on the type of cells its targets.

The growth of the global gene therapy market is attributed to various factors such as robust product pipeline, increasing investment by key players, and high prevalence of target diseases and demand for innovative medication. However, the high cost of product development and stringent regulatory policies are expected to curb the growth of the global gene therapy market. The global gene therapy market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

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Regional Analysis

The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas is expected to be the largest market owing to the increasing prevalence of gene therapy and rising per capita healthcare expenditure. The gene therapy market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European gene therapy market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The gene therapy market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing number of patients and raising awareness about the treatment methods, the market in Asia-Pacific is expected to be the fastest-growing. The gene therapy market in the Middle East & Africa has been divided into the Middle East and Africa.

Segmentation

The global gene therapy market has been segmented based on product, indication, and end user.

The market, based on product, has been divided into kymriah, luxturna, yescarta, zolgensma, strimvelis, zynteglo, imlygic, and others.

The global gene therapy market has on the basis of indication is segmented, into oncology, genetic diseases/ disorders, and others. The oncology segment is expected to hold the largest market share and to be the fastest-growing segment due to high prevalence of cancer and robust pipeline for cancer gene therapy.

The end-user segments of the market are hospitals & clinics, specialty treatment centers, and others. The hospitals & clinics segment is expected to hold the largest market share due to increasing number of hospitals. Also, hospitals are generally the first treatment choice for diseases.

Key Players

Some of the key players in the global gene therapy market are Amgen, Inc. (US), Novartis AG (Switzerland), Spark Therapeutics, Inc. (US), Gilead Sciences, Inc. (US), uniQure N.V. (Netherlands), Orchard Therapeutics plc (UK), Celgene Corporation (US), Bristol-Myers Squibb Company (US), Thermo Fisher Scientific Inc. (US), CEVEC (Germany), and Lonza (Switzerland).

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Laboratory Equipment Market Insights Analysis 2020-2027

 Market Overview

Laboratory equipment market is on track to secure a growth rate of 7.3% from 2019 to 2025 (evaluation period), says Market Research Future (MRFR). The MRFR study also expects the market to touch USD 58,960 Million by 2025.  

Top Boosters and Challenges

The laboratory equipment industry benefits the large-scale investments in extensive research and development activities in the field of biotechnology and pharmaceutical. The market is also strongly influenced by the increasing availability of advanced laboratory supplies and their growing use by procurement managers in industries like healthcare and pharmaceutical. Innovations in chemical and biological researches combined with the surge in clinical laboratory tests along with life science researches can also foster market growth in the ensuing period.

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Introduction of new technologies and their adoption have been picking up speed in the market, thereby facilitating enhanced laboratory capabilities. Adoption of modern techniques is proving to be favorable for scientists and laboratory technicians as they are able to achieve more efficient and accurate results. Automation, artificial intelligence, miniaturization and smart technology are the prevailing trends and are witnessing high demand among laboratory equipment manufacturers.

Medical lab equipment vendors are putting in efforts to facilitate simpler order processes and product selection, whereas laboratory managers are working on bolstering the efficiency by elevating the purchasing process. The trend of easy to use and compact equipment with built-in connectivity is also emerging at a promising rate, while the construction of new labs with advanced equipment and supplies by renowned companies can induce substantial market growth in the years ahead.

Segmental Analysis

The laboratory equipment industry has been segregated with respect to product type, application, and end user.

The product types studied are centrifuges, incubators, scopes, spectrometers, autoclaves, sonicators, and others. The incubators segment can obtain the top spot in the global market, as the device’s application range is expanding in several areas of testing. The spectrometers segment could procure the fastest expansion rate.

The laboratory equipment market, with respect to application, comprises genetic testing, endocrinology, biochemistry, hematology, microbiology, and more. The biochemistry segment is slated to capture the highest share in the market, owing to the significant number of biochemical tests that are generally conducted in laboratories. The endocrinology category is confirmed to advance at the fastest pace, on account of the expanding patient pool and the surge in the number of tests.

The end users considered in the report include diagnostic centers, hospitals and clinics, and more. The hospitals and clinics sector can take the lead in the market as these end-users extensively use a variety of laboratory equipment. The diagnostic centers segment can however, advance at the fastest rate in the forthcoming years, as a result of the rising preference for conducting diagnostic tests by medical professionals, with the use of highly advanced lab equipment and supplies.

Regional Study

The market for laboratory equipment has been regionally distributed on the basis of the Americas, MEA or the Middle East & Africa, APAC/Asia Pacific, and Europe.

Americas has been identified as the most lucrative market, while the US and Canada are in the lead in the region due to their highly developed laboratories with modern equipment as well as instruments. Strong presence of a number of renowned biopharmaceutical and pharmaceutical companies that are actively involved in extensive R&D activities will further bolster the region’s attractiveness in the coming years. A few other growth boosting factors include the soaring number of grants including NIH or National Institute of Health that aim to encourage researches in the region.

APAC should procure the fastest CAGR in the near future, thanks to the surging cases of infectious diseases such as AIDS, tuberculosis and hepatitis that require accurate laboratory testing. Escalating burden of cancer in the region, especially in India and China can also benefit the market in the upcoming years.

Eminent Firms

Key manufacturers of laboratory equipment in the worldwide market are BD (US), Eppendorf AG (Germany), Thermo Fisher Scientific Inc. (US), Bio-Rad Laboratories, Inc. (US), Hoffmann LA-Roche AG (Switzerland), Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), Bruker (US), Beckman Coulter, Inc. (US), Waters (US), PerkinElmer Inc. (US), and more.

Latest News

February 2021

EndoWays, designer of disposable robotic system used in a cath laboratory, has confirmed the acquisition of most of its shares by Ascendum. The robotic technology has been developed to allow radiologists as well as cardiologists to examine blood vessels and conduct complex procedures remotely. The robot’s disposable properties have made it easy to use and affordable for physicians, requiring very less setup time.

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Global Hearing Aids Market size and forecast, 2020-2027

 According to MRFR analysis, the global hearing aids market is expected to register a CAGR of ~7% during the forecast period of 2019 to 2025 and was valued at USD 8 billion in 2018.

A hearing aid is an electronic device which amplifies sound so that a person with hearing loss can listen, participate in daily activities, and communicate with others. The three basic parts of a hearing aid are a speaker, an amplifier, and a microphone.

The growth of global hearing aids market is driven by various factors such as increasing incidence of hearing loss, the launch of new products, increasing geriatric population, and raising awareness about hearing loss treatment. However, the low penetration of hearing aids and product recalls are expected to curb the growth of the global hearing aids market.

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The global hearing aids market is currently dominated by several market players. The key players are involved in product launches and strategic collaborations to strengthen their market positions.

Regional Analysis

The market has been divided, by region, into Europe, the Americas, Asia-Pacific, and the Middle East & Africa. Europe is expected to be the largest market owing to the rising incidence of hearing loss and sophisticated healthcare infrastructure. The European hearing aids market has been categorized as Western Europe and Eastern Europe. The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The Americas holds the second largest market share. The hearing aids market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The hearing aids market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. Due to the increasing awareness regarding the use of hearing aids and increasing population affected by hearing disorders, the market in Asia-Pacific is expected to be the fastest-growing. The hearing aids market in the Middle East & Africa has been divided into the Middle East and Africa and is expected to hold the least market share.

Segmentation

The global hearing aids market has been segmented based on product, product type, type of hearing loss, technology type, and distribution channel.

The market, based on product, has been divided into devices, implants, and accessories, out of which implants is the fastest-growing segment. For instance, the Australia-based manufacturer Cochlear Ltd reported a profit of USD 265 to USD 275 million in first quarter of 2019, 8% to 12% more as compared to that in the first quarter of 2018.

The global hearing aids market has been segmented, on the basis of product type, into wired and wireless. Wireless is the fastest-growing segment owing to technological advancements and product launches. For instance, Sonova, in November 2018 launched products based on SWORD (Sonova Wireless One Radio Digital) chip. The new technology allows hearing instruments to connect with electronic devices such as televisions or mobile phones.

The type of hearing loss segments of the market are sensorineural, conductive, and others. The growth of the segment is due to the high prevalence of hearing loss. For instance, in 2018, around 2 to 3 out of 1000, children in the US are born with a hearing loss in one or both ears.

The technology type segment of the market is segmented as digital hearing aids and analog hearing aids. The digital hearing aids segment is expected to be both, the largest shareholder and the fastest-growing segment owing to its advantages over analog counterparts.

The distribution channel segment is classified into retail stores, E-commerce, and others. The E-commerce segment is expected to be the fastest-growing segment owing to ease of access to products for customers.

Key Players

Some of the key players in the global hearing aids market are Sonova (Switzerland), Cochlear Ltd. (Australia), GN Store Nord A/S (Denmark), Sivantos Pte. Ltd. (Singapore), Arphi Electronics Private Limited (India), Demant A/S (Denmark), Starkey (US), WIDEX INDIA PRIVATE LIMITED (Denmark), Zounds Hearing (US), SeboTek Hearing Systems, LLC (US), Audina Hearing Instruments, Inc. (US), and Microson (Spain).

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