Hearing Amplifiers Market Future Challenges and Industry Growth Outlook by 2020-2026

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.

The hearing amplifiers market is projected to foresee tremendous revenue growth over the coming years due to the growing number of cases of people suffering from mild or moderate hearing impairment issues. Hearing amplifiers can be used to, as the name suggests, amplify the sound levels around the user. Personal sound amplifiers are touted to be the optimum choice for the normal-hearing population. A person who has normal hearing could essentially use a hearing amplifier for leisure activities like birdwatching. These devices essentially work as binoculars for ears.

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Due to the rising cases and growing consumer awareness levels, key hearing amplifiers industry players  are increasingly focusing on innovating new, technologically advanced instruments that offer greater performance and comfort. Taking March 2020 for instance, Widex, one of the top hearing aid manufacturer in the world, unveiled Moment, a new hearing device that is designed to solve one the greatest challenges in the market, the problem of delay; wherein hearing device users experience a slight delay in what they hear and what they see.

A typical device takes some time to process the sound it is picking up and then relay that to the user, often leading the users experiencing their surroundings out of sync. The Moment is capable of eliminating the ‘out of sync’ sound issue by effectively eliminating this time delay, significantly improving the experience for people suffering from mild to average hearing loss.

With respect to distribution channel, the market is categorized into hospital pharmacies, online pharmacies, and others. Of these, in 2019, the online pharmacies segment held a crucial 30% share of the overall market. The segment is projected to witness considerable growth over the coming years owing to the wide variety of innovative hearing amplifiers available offered by online pharmacies. Additionally, numerous discounts offered by these pharmacies to attract more customer attention is further increasing the segment share in an effective manner. Citing an instance, CVS pharmacy offers hearing amplification devices to customers located in the U.S. or United States territories.

In terms of product, the overall market is categorized into behind-the-ear and in-the-ear hearing amplifiers. Of these, the in-the-ear hearing amplifiers market was valued at over $20 million back in 2019. The segment is likely to witness increasing consumer demand over the coming years owing to its convenient-to-use factor. The product’s smaller size in comparison to other available alternative in the industry make it much more easy to wear and operate.

Key companies in the market are actively making efforts to gain a competitive edge and boost revenues. While the industry is frequently witnessing instances of partnerships, acquisitions, and investments, new product launches are some of the most common methods firms use to extend their market reach and expand their portfolio. Citing an instance, in April 2019, iHEAR Medical released the next generation iHEARhd. The iHEARhd is the company’s first in class home-programmable invisible hearing device invented for mild and moderate hearing losses.

The competitive landscape of the global hearing amplifiers market is inclusive of players such as Britzgo, Banglijian, MDHearing, Otofonix, Sound World Solutions, IntriCon Corporation, iHEAR Medical, FocusEar, Etymotic Research, and Beurer among others. 

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Partial Chapter of the Table of Content 

Chapter 4. Hearing Amplifiers Market, By Product

4.1. Key segment trends

4.2. Behind-the-ear

4.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.2.2.  Market size, by region, 2015 – 2026 (Units)

4.3. In-the-ear

4.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.2.  Market size, by region, 2015 – 2026 (Units)

Chapter 5. Hearing Amplifiers Market, By Distribution channel

5.1. Key segment trends

5.2. Hospital pharmacies

5.2.1.  Market size, by region, 2015 – 2026 (USD Million)

5.3. Online pharmacies

5.3.1.  Market size, by region, 2015 – 2026 (USD Million)

5.4. Others

5.4.1.  Market size, by region, 2015 – 2026 (USD Million)