The Sweden hearing aids market is estimated to be valued at US$154.183 million in 2019.
A large number of people experiencing hearing loss in Sweden, which is further expected to increase in the future, along with an aging population, is propelling the demand for hearing aids in Sweden and is anticipated to surge the market growth during the forecast period. As per the industry analysis, another driving factor is the technological advancements in hearing aids devices which are anticipated to increase the market size of hearing aids in Sweden during the forecast period.
The recent outbreak of the novel coronavirus disease harmed the Sweden hearing aids market. The decline in production and the supply chain disruptions due to lockdown, coupled with the fear of going out leading to reduced demand, had a negative impact on the market. However, as the limitations have been relaxed, the market is anticipated to recover and continue growing at its normal pace from the year 2022 onwards.
The Sweden hearing aids market has been classified based on product type, type of hearing loss, age group, and technology. By product type, the market has been classified based on Behind-the-ear (BTE), In-the-ear (ITE), In-the-canal (ITC), Receiver-In-The-Ear (RITE), Completely-in-the-Canal (CIC), Cochlear Implants, and others. Based on the type of hearing loss, the segmentation has been done into Sensorineural and Conductive. By age group, the market has been categorized into Above 65 years, 18 to 65 years, and Below 18 years. Based on technology, the segmentation has been done into Conventional and Digital.
The widespread prevalence of hearing problems.
Sweden is witnessing a rise in the prevalence of self-reported hearing loss cases with increased age. The Swedish government data shows that around 20% population in the above 60 age group have hearing loss, whereas 55% of the population among the above 85 age group suffer from hearing loss. The 2016 Swedish Living Conditions survey data from Statistics Sweden states that nearly 19% of the total population of the country over the age of 16 reports hearing loss. This widespread hearing loss issue in the country is prompting the rise in demand for hearing aids and as per the market trends, the growth of the hearing aids market in Sweden is projected to surge during the forecast period. Sweden has a growing elderly population. According to Swedish Institute, there are around 2 million people over the age of 65 in Sweden out of a total population of 10 million, which accounts for 20% of the country's population. It estimates that the share of the elderly population will rise to around 25% by 2040. With the rise in the elderly population, the prevalence of hearing problems in the country is anticipated to increase which is expected to propel the growth of the hearing aids market in Sweden during the forecast period.
|Market size value in 2019||US$154.183 million|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Million|
|Segments covered||Product Type, Type of Hearing Loss, Age Group, And Technology|
|Companies covered||GN Hearing Sverige AB, AB Widex, Sonova Holding AG, Cochlear Bone Anchored Solutions Ab, Part Precision Sweden AB|
|Customization scope||Free report customization with purchase|
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Sweden Hearing Aids Market Analysis, by Product Type
5.2. Behind-the-ear (BTE)
5.3. In-the-ear (ITE)
5.4. In-the-canal (ITC)
5.5. Receiver-In-The-Ear (RITE)
5.6. Completely-in-the-Canal (CIC)
5.7. Cochlear Implants
6. Sweden Hearing Aids Market Analysis, by Type of Hearing Loss
7. Sweden Hearing Aids Market Analysis, by Age Group
7.2. Above 65 years
7.3. 18 to 65 years
7.4. Below 18 years
8. Sweden Hearing Aids Market Analysis, by Technology
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
10.1. GN Hearing Sverige AB
10.2. AB Widex
10.3. Sonova Holding AG
10.4. Cochlear Bone Anchored Solutions Ab
10.5. Part Precision Sweden AB
GN Hearing Sverige AB
Sonova Holding AG
Cochlear Bone Anchored Solutions Ab
Part Precision Sweden AB
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