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.
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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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.
The behind-the-ear hearing amplifiers industry accounted for approximately 65% of the overall industry share in 2019. The product supports a person’s hearing ability by amplifying the sounds and then transmitting them to the user’s ear.
In terms of distribution channel, the hospital pharmacies segment held a valuation of about $25 million in 2019 with projections anticipating it to foresee further positive expansion due to the rising availability of various types of over the counter hearing amplifiers.
Hospital pharmacies also offer hearing amplifiers that have advanced technological features such as telecoil and Bluetooth. Moreover, rising demand for the product from customers across hospital pharmacies would further stimulate their demand over the coming years.
The steadily growing geriatric population, rising cases of hearing loss disorders, as well as increasing regulatory initiatives are driving the Europe hearing amplifiers market size. In fact, as per the 2017 Hearing Loss and Disability manifesto by European Coalition, about 10% of the entire population, which is approximately 52 million individuals, undergo hearing loss. Based on these factors, the Europe hearing amplifiers industry is likely to observe CAGR of about 5% over the forecast timespan.
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
4.2.1. Market size, by region, 2015 – 2026 (USD Million)
4.2.2. Market size, by region, 2015 – 2026 (Units)
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)
5.4.1. Market size, by region, 2015 – 2026 (USD Million)
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