Hearing Aids Market by Product (Receiver In The Ear, Behind The Ear, In The Ear, In The Canal Hearing Aids, Cochlear Implant, BAHA implant), Types of Hearing Loss (Sensorineural, Conductive Hearing loss) & Patient (Adult, Pediatric) - Forecast to 2022
[186 Pages Report] The hearing aids market is expected to reach USD 9.78 Billion by 2022 from USD 6.56 Billion in 2016, at a CAGR of 7.0% from 2017 to 2022.
The objectives of this study are as follows:
- To define, describe, and forecast the global market on the basis of product, type of hearing loss, patient type, and region
- To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)
- To profile key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze competitive developments such as acquisitions, new product launches, expansions, regulatory approvals, and agreements in the market
Research Methodology
The study estimates the hearing aids market size for 2017 and projects its demand till 2022. This research study involved the extensive use of secondary sources; directories; databases such as Hoovers, Bloomberg Business, Factiva, and OneSource; white papers; annual reports; company house documents; and SEC filings of companies. Secondary research was mainly used to identify and collect information useful for the extensive, technical, market-oriented, and commercial study of the global market. It was also used to obtain key information about the market classification and segmentation according to the industry trends, regional markets, and developments related to market and technology perspectives. In the primary research process, various sources from both the demand and supply side were interviewed to obtain qualitative and quantitative information for the report. Primary sources from the demand side include various industry CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from the various players in the hearing aids market. For the market estimation process, both top-down and bottom-up approaches were used to estimate and validate the market size of the global market as well as to estimate the size of various other dependent submarkets. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.
To know about the assumptions considered for the study, download the pdf brochure
The hearing aids market is dominated by big players such as Sonova (Switzerland), William Demant (Denmark), and GN Store Nord (Denmark) with the presence of several small players as well. Some of the players operating in this market include Cochlear (Australia), Starkey (US), Widex (Denmark), MED-EL (Austria), SeboTek Hearing Systems (US), Audina Hearing Instruments (US), RION (Japan), Horentek (Italy), Microson (Spain), and Arphi Electronics (India).
Target Audience for this Report:
- Hearing aid manufacturers
- Healthcare institutions (hospitals and clinics)
- Hearing aid service providers
- Research institutions
- Research and consulting firms
- Audiology centers
Scope of the Report
This report categorizes the global market into the following segments and subsegments:
Hearing Aids Market, by Product
- Hearing Aid Devices
- Receiver-In-The-Ear (RITE) Hearing Aids
- Behind-The-Ear (BTE) Hearing Aids
- Canal Hearing Aids
- In-The-Ear (ITE) Hearing Aids
- Other Hearing Aid Devices
- Hearing Implants
- Cochlear Implants
- Bone-anchored Systems
Hearing Aids Market, by Type of Hearing Loss
- Sensorineural Hearing Loss
- Conductive Hearing Loss
Hearing Aids Market, by Patient Type
- Adults
- Pediatrics
Hearing Aids Market, by Region
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- ROE
- Asia
- Japan
- China
- India
- Rest of Asia
- Rest of the World (RoW)
- Australia
- Other Rest of the World
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs.
The following customization options are available for this report.
Product Analysis
Product matrix which gives a detailed comparison of the product portfolio of each company
Company Information
Detailed analysis and profiling of additional market players (up to 5)
The global hearing aids market is projected to reach USD 9.78 Billion by 2022 from USD 6.97 Billion in 2017, at a CAGR of 7.0%. Factors such as high prevalence of hearing loss, rising geriatric population, and technological advancements in hearing aids are driving the global market.
This report segments the hearing aids market by product, type of hearing loss, patient type, and region. Based on product, the market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment is expected to account for the largest share of the global market in 2017.
Based on the patient type, the market is segmented into adult patients and pediatric patients. The adult patients segment is expected to register the highest CAGR during the forecast period. The high prevalence of hearing loss in the adult population with growing age is driving the growth of this segment.
In 2017, Europe is expected to dominate the market, followed by North America. The high growth of the hearing aids market is attributed to growing aging population and high prevalence of hearing loss in the region.
While Europe is expected to dominate the market in 2017, Asia is expected to register the highest CAGR during the forecast period. The high growth in this market is attributed to the high prevalence of hearing loss, availability of technologically advanced hearing aids, growth in the aging population, and increasing initiatives by companies to expand in these emerging economies. While the hearing aids market presents significant growth opportunities, market growth may be hindered due to the high cost of hearing aids and the low penetration of these devices.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 16)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitation
1.6 Market Stakeholders
2 Research Methodology (Page No. - 19)
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.3.1 Secondary Sources
2.3.2 Primary Sources
2.4 Assumptions for the Study
3 Executive Summary (Page No. - 26)
4 Hearing Aids Market - Premium Insights (Page No. - 30)
4.1 Market Overview
4.2 Europe Hearing Aid Devices Market, By Product and By Country, 2017
4.3 Market Geographical Snapshot
4.4 Hearing Implants Market, By Type
4.5 Market, By Patient Type, 2017 vs 2022
5 Hearing Aids Market Overview (Page No. - 34)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Geriatric Population
5.2.1.2 High Prevalence of Hearing Loss
5.2.1.3 Technological Advancements in Hearing Aids
5.2.2 Restraint
5.2.2.1 Low Penetration of Hearing Aids Owing to Their High Cost and Low Awareness
5.2.3 Opportunity
5.2.3.1 Growth Potential Offered By Emerging Countries
5.2.4 Challenge
5.2.4.1 Unfavorable Reimbursement Scenario
6 Hearing Aids Market, By Product (Page No. - 38)
6.1 Introduction
6.2 Hearing Aid Devices
6.2.1 Receiver-In-The-Ear Hearing Aids
6.2.2 Behind-The-Ear Hearing Aids
6.2.3 Canal Hearing Aids
6.2.4 In-The-Ear (ITE) Hearing Aids
6.2.5 Other Hearing Aid Devices
6.3 Hearing Implants
6.3.1 Cochlear Implants
6.3.2 Bone-Anchored Systems
7 Hearing Aids Market, By Type of Hearing Loss (Page No. - 60)
7.1 Introduction
7.2 Sensorineural Hearing Loss
7.3 Conductive Hearing Loss
8 Hearing Aids Market, By Patient Type (Page No. - 68)
8.1 Introduction
8.2 Adults
8.3 Pediatrics
9 Hearing Aids Market, By Region (Page No. - 76)
9.1 Introduction
9.2 Europe
9.2.1 Germany
9.2.2 France
9.2.3 UK
9.2.4 Italy
9.2.5 Spain
9.2.6 RoE
9.3 North America
9.3.1 US
9.3.2 Canada
9.4 Asia
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Rest of Asia
9.5 Rest of the World (RoW)
9.5.1 Australia
9.5.2 Other RoW Countries
10 Competitive Landscape (Page No. - 116)
10.1 Market Share Analysis
10.2 Competitive Situation and Trends
10.2.1 New Product Launches
10.2.2 Agreements, Partnerships, and Collaborations
10.2.3 Acquisitions
10.2.4 Other Developments
11 Company Profiles (Page No. - 126)
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View)*
11.1 Sonova
11.2 William Demant
11.3 Gn Store Nord
11.4 Cochlear
11.5 Sivantos
11.6 Starkey
11.7 Widex
11.8 Med-El
11.9 Zounds Hearing
11.10 Sebotek Hearing Systems
11.11 Audina Hearing Instruments
11.12 Rion
11.13 Horentek
11.14 Microson
11.15 Arphi Electronics
*Details on Marketsandmarkets View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 178)
12.1 Insights From Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
List of Tables (146 Tables)
Table 1 Incidence of Hearing Loss, By Region, 2012 (Million)
Table 2 Market, By Type, 20152022 (USD Million)
Table 3 Hearing Aid Devices Market, By Region, 20152022 (USD Million)
Table 4 Hearing Aid Devices Market, By Region, 20152022 (Thousand Units)
Table 5 Europe: Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 6 Europe: Hearing Aid Devices Market, By Country, 20152022 (Thousand Units)
Table 7 North America: Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 8 North America: Hearing Aid Devices Market, By Country, 20152022 (Thousand Units)
Table 9 Asia: Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 10 Asia: Hearing Aid Devices Market, By Country, 20152022 (Thousand Units)
Table 11 RoW: Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 12 Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 13 Hearing Aid Devices Market, By Type, 20152022 (Thousand Units)
Table 14 Receiver-In-The-Ear Hearing Aids Market, By Region, 20152022 (USD Million)
Table 15 Europe: Receiver-In-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 16 North America: Receiver-In-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 17 Asia: Receiver-In-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 18 Behind-The-Ear Hearing Aids Market, By Region, 20152022 (USD Million)
Table 19 North America: Behind-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 20 Europe: Behind-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 21 Asia: Behind-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 22 Canal Hearing Aid Devices Market, By Region, 20152022 (USD Million)
Table 23 North America: Canal Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 24 Europe: Canal Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 25 Asia: Canal Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 26 In-The-Ear Hearing Aids Market, By Region, 20152022 (USD Million)
Table 27 Europe: In-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 28 Asia: In-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 29 North America: In-The-Ear Hearing Aids Market, By Country, 20152022 (USD Million)
Table 30 Other Hearing Aid Devices Market, By Region, 20152022 (USD Million)
Table 31 North America: Other Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 32 Europe: Other Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 33 Asia: Other Hearing Aid Devices Market, By Country, 20152022 (USD Million)
Table 34 Hearing Implants Market, By Region, 20152022 (USD Million)
Table 35 Europe: Hearing Implants Market, By Country, 20152022 (USD Million)
Table 36 North America: Hearing Implants Market, By Country, 20152022 (USD Million)
Table 37 Asia: Hearing Implants Market, By Country, 20152022 (USD Million)
Table 38 RoW: Hearing Implants Market, By Country, 20152022 (USD Million)
Table 39 Hearing Implants Market, By Type, 20152022 (USD Million)
Table 40 Cochlear Implants Market, By Region, 20152022 (USD Million)
Table 41 Bone-Anchored Systems Market, By Region, 20152022 (USD Million)
Table 42 Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 43 Market for Sensorineural Hearing Loss, By Region, 20152022 (USD Million)
Table 44 North America: Market for Sensorineural Hearing Loss, By Country, 20152022 (USD Million)
Table 45 Europe: Market for Sensorineural Hearing Loss, By Country, 20152022 (USD Million)
Table 46 Asia: Market for Sensorineural Hearing Loss, By Country, 20152022 (USD Million)
Table 47 RoW: Market for Sensorineural Hearing Loss, By Country, 20152022 (USD Million)
Table 48 Market for Conductive Hearing Loss, By Region, 20152022 (USD Million)
Table 49 North America: Market for Conductive Hearing Loss, By Country, 20152022 (USD Million)
Table 50 Europe: Market for Conductive Hearing Loss, By Country, 20152022 (USD Million)
Table 51 Asia: Market for Conductive Hearing Loss, By Country, 20152022 (USD Million)
Table 52 RoW: Market for Conductive Hearing Loss, By Country, 20152022 (USD Million)
Table 53 Hearing Aids Market, By Patient Type, 20152022 (USD Million)
Table 54 Hearing Aids Market for Adult Patients, By Region, 20152022 (USD Million)
Table 55 North America: Market for Adult Patients, By Country, 20152022 (USD Million)
Table 56 Europe: Market for Adult Patients, By Country, 20152022 (USD Million)
Table 57 Asia: Market for Adult Patients, By Country, 20152022 (USD Million)
Table 58 RoW: Market for Adult Patients, By Country, 20152022 (USD Million)
Table 59 Hearing Aids Market for Pediatric Patients, By Region, 20152022 (USD Million)
Table 60 North America: Market for Pediatric Patients, By Country, 20152022 (USD Million)
Table 61 Europe: Market for Pediatric Patients, By Country, 20152022 (USD Million)
Table 62 Asia: Market for Pediatric Patients, By Country, 20152022 (USD Million)
Table 63 RoW: Market for Pediatric Patients, By Country, 20152022 (USD Million)
Table 64 Global Hearing Aids Market, By Region, 20152022 (USD Million)
Table 65 Europe: Market, By Country, 20152022 (USD Million)
Table 66 Europe: Market, By Product, 20152022 (USD Million)
Table 67 Europe: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 68 Europe: Hearing Implants Market, By Type, 20152022 (USD Million)
Table 69 Europe: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 70 Europe: Market, By Patient Type, 20152022 (USD Million)
Table 71 Germany: Hearing Aids Market, By Product, 20152022 (USD Million)
Table 72 Germany: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 73 Germany: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 74 Germany: Hearing Aids Market, By Patient Type, 20152022 (USD Million)
Table 75 France: Market, By Product, 20152022 (USD Million)
Table 76 France: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 77 France: Hearing Aids Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 78 France: Market, By Patient Type, 20152022 (USD Million)
Table 79 UK: Hearing Aids Market, By Product, 20152022 (USD Million)
Table 80 UK: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 81 UK: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 82 UK: Market, By Patient Type, 20152022 (USD Million)
Table 83 Italy: Market, By Product, 20152022 (USD Million)
Table 84 Italy: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 85 Italy: Hearing Aids Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 86 Italy: Market, By Patient Type, 20152022 (USD Million)
Table 87 Spain: Market, By Product, 20152022 (USD Million)
Table 88 Spain: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 89 Spain: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 90 Spain: Market, By Patient Type, 20152022 (USD Million)
Table 91 RoE: Market, By Product, 20152022 (USD Million)
Table 92 RoE: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 93 RoE: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 94 RoE: Hearing Aids Market, By Patient Type, 20152022 (USD Million)
Table 95 North America: Market, By Country, 20152022 (USD Million)
Table 96 North America: Market, By Product, 20152022 (USD Million)
Table 97 North America: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 98 North America: Hearing Implants Market, By Type, 20152022 (USD Million)
Table 99 North America: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 100 North America: Market, By Patient Type, 20152022 (USD Million)
Table 101 US: Hearing Aids Market, By Product, 20152022 (USD Million)
Table 102 US: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 103 US: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 104 US: Market, By Patient Type, 20152022 (USD Million)
Table 105 Canada: Market, By Product, 20152022 (USD Million)
Table 106 Canada: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 107 Canada: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 108 Canada: Market, By Patient Type, 20152022 (USD Million)
Table 109 Asia: Market, By Country, 20152022 (USD Million)
Table 110 Asia: Hearing Aids Market, By Product, 20152022 (USD Million)
Table 111 Asia: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 112 Asia: Hearing Implants Market, By Type, 20152022 (USD Million)
Table 113 Asia: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 114 Asia: Market, By Patient Type, 20152022 (USD Million)
Table 115 Japan: Market, By Product, 20152022 (USD Million)
Table 116 Japan: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 117 Japan: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 118 Japan: Hearing Aids Market, By Patient Type, 20152022 (USD Million)
Table 119 China: Market, By Product, 20152022 (USD Million)
Table 120 China: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 121 China: Hearing Aids Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 122 China: Market, By Patient Type, 20152022 (USD Million)
Table 123 India: Market, By Product, 20152022 (USD Million)
Table 124 India: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 125 India: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 126 India: Market, By Patient Type, 20152022 (USD Million)
Table 127 RoA: Hearing Aids Market, By Product, 20152022 (USD Million)
Table 128 RoA: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 129 RoA: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 130 RoA: Market, By Patient Type, 20152022 (USD Million)
Table 131 RoW: Market, By Region, 20152022 (USD Million)
Table 132 RoW: Market, By Product, 20152022 (USD Million)
Table 133 RoW: Hearing Aid Devices Market, By Type, 20152022 (USD Million)
Table 134 RoW: Hearing Implants Market, By Type, 20152022 (USD Million)
Table 135 RoW: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 136 RoW: Market, By Patient Type, 20152022 (USD Million)
Table 137 Australia: Market, By Product, 20152022 (USD Million)
Table 138 Australia: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 139 Australia: Market, By Patient Type, 20152022 (USD Million)
Table 140 Other RoW Countries: Market, By Product, 20152022 (USD Million)
Table 141 Other RoW Countries: Market, By Type of Hearing Loss, 20152022 (USD Million)
Table 142 Other RoW Countries: Market, By Patient Type, 20152022 (USD Million)
Table 143 New Product Launches, 20152017
Table 144 Agreements, Partnerships, and Collaborations, 20152017
Table 145 Acquisitions, 20152017
Table 146 Other Developments, 20152017
List of Figures (41 Figures)
Figure 1 Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 5 Data Triangulation
Figure 6 Hearing Aid Devices to Dominate Market During Forecast Period
Figure 7 Receiver-In-The-Ear Hearing Aids Segment to Record Highest Growth During Forecast Period
Figure 8 Cochlear Implants to Dominate Hearing Implants Market Until 2022
Figure 9 Adult Patients Segment to Record Highest Growth During Forecast Period
Figure 10 Europe to Dominate Global Market in 2017
Figure 11 Market to Offer High-Growth Opportunities During Forecast Period
Figure 12 Receiver-In-The-Ear Hearing Aids Segment to Hold Largest Market Share in 2017
Figure 13 Chinese Market to Record High Growth During Forecast Period
Figure 14 Cochlear Implants Segment to Register Highest Growth During Forecast Period
Figure 15 Adult Patients Segment to Continue Dominating Market in 2022
Figure 16 Drivers, Restraints, Opportunities, and Challenges
Figure 17 Hearing Aid Devices Segment to Dominate Market During Forecast Period
Figure 18 Cochlear Implants Segment to Dominate Hearing Implants Market During Forecast Period
Figure 19 Hearing Aids for Sensorineural Hearing Loss to Dominate Market During Forecast Period
Figure 20 Adult Patients Segment to Dominate Market During Forecast Period
Figure 21 Asian Market to Register Highest Growth During Forecast Period
Figure 22 Europe: Market Snapshot
Figure 23 North America: Market Snapshot
Figure 24 Asia: Market Snapshot
Figure 25 RoW: Market Snapshot
Figure 26 Global Market Share Analysis, By Key Player, 2016
Figure 27 North America: Market Share Analysis, By Key Player, 2016
Figure 28 Europe: Market Share Analysis, By Key Player, 2016
Figure 29 Asia: Market Share Analysis, By Key Player, 2016
Figure 30 Australia: Market Share Analysis, By Key Player, 2016
Figure 31 Global Hearing Implants Market Share Analysis, By Key Player, 2016
Figure 32 North America: Hearing Implants Market Share Analysis, By Key Player, 2016
Figure 33 Europe: Hearing Implants Market Share Analysis, By Key Player, 2016
Figure 34 Asia: Hearing Implants Market Share Analysis, By Key Player, 2016
Figure 35 Australia: Hearing Implants Market Share Analysis, By Key Player, 2016
Figure 36 Battle for Market Share: New Product Launches the Key Strategy Adopted By Market Players
Figure 37 Company Snapshot: Sonova
Figure 38 Company Snapshot: William Demant
Figure 39 Gn Store Nord: Company Snapshot
Figure 40 Company Snapshot: Cochlear
Figure 41 Company Snapshot: Rion
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Growth opportunities and latent adjacency in Hearing Aids Market