Hearing Amplifiers Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
Increasing incidence of hearing disorder among the older population is poised to drive global hearing amplifiers market outlook. Hearing loss and hearing disorder can be a result from complications at birth, genetic causes, certain infectious diseases, use of particular drugs, chronic ear infections, ageing and exposure to excessive noise. As per World Health Organization, unaddressed hearing loss poses an annual cost of around USD 750 billion, globally.
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Expansion of geriatric population base prone to hearing ailments along with rise in hearing disorder in millennials due to exposure to loud noise will influence the sector growth. It has bene projected that global hearing amplifiers market size will exceed USD 95 million by 2026in terms of annual valuation.
Over the past decades, the hearing amplifiers have witnessed major changes. Amplifier manufacturers are consistently aiming at developing technologically advanced instruments for better consumer comfort. The latest hearing amplifiers offer noise reduction features that filter out the unpleasant noise along with several automated features that analyze the surround environment of the user and adjust the inputs accordingly.
Some of the other features include maximum number of sound channels, tinnitus management program and advanced speech recognition. The latest digital hearing amplifiers are increasingly becoming smaller in size that they are almost invisible to the naked eye. Behind-the-ear amplifiers work by amplifying sounds and then transmitting the amplified sound to the ear. The product is widely used due to their convenience and better support to an individual's hearing ability. In 2019, behind-the-ear product segment held 65 % of the global hearing amplifiers industry share.
Behind-the-ear amplifiers also come with rechargeable and exchangeable batteries. In terms of technology, the In-the-ear hearing amplifiers are also witnessing considerable adoption which may further augment product demand in the coming years.
In 2019, hospital pharmacies accounted for a revenue generation of more than USD 25 million for the market with the growing availability of all types of hearing amplifiers over the counter. Hearing amplifiers with advanced features such as Bluetooth and a telecoil are easily available at hospital pharmacies. Also, surging demand for hearing amplifiers by hospital patients may boost business revenues.
Europe hearing amplifiers market is set to grow at 5% CAGR through 2026 on account of growing prevalence of hearing disorder in elderly population. As per the manifesto by the European Coalition on Hearing Loss & Disability (2017), approximately 52 million individuals, that is 10% of the overall population experience some form of hearing loss. Favorable medical reimbursement scenario in Europe will boost the regional industry forecast.
Key manufacturers and brands in the global hearing amplifiers industry include Etymotic Research, Beurer, FocusEar, IntriCon Corporation, iHEAR Medical, Sound World Solutions, MDHearing, Otofonix, Britzgo and Banglijian, among others. These players are implementing various organic and inorganic strategies including mergers, acquisitions and product innovations to gain competitive advantage. For instance, Beurer rolled out new hearing amplifiers at MEDICA in 2019 and the new collection consists of different hearing amplifier designed as per individual needs.
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Partial Chapter of the Table of Content
Chapter 2. Executive Summary
2.1. Hearing amplifiers industry 3600 synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Distribution channel trends
2.1.4. Regional trends
Chapter 3. Hearing Amplifiers Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
188.8.131.52. Increasing prevalence of hearing loss disorders globally
184.108.40.206. Rising geriatric population globally
220.127.116.11. Technological advancements
18.104.22.168. Favorable regulatory scenario in developed economies
3.3.2. Industry pitfalls and challenges
22.214.171.124. Social stigma associated with wearing hearing amplifier
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By distribution channel
3.5. COVID-19 impact analysis
3.6. Porter’s analysis
3.7. Competitive landscape, 2019
3.7.1. Competitive matrix analysis, 2019
3.8. PESTEL analysis