Allied Market Research published a report, titled, “Hearing Amplifiers Market by Product (Behind-the-ear, In-the-ear), Type (Analog Hearing Aids, Digital Hearing Aids) and Distribution Channel (Hospital pharmacies, online pharmacies, others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global hearing amplifiers industry generated $80.66 million in 2020, and is projected to reach $123.81 million by 2030, witnessing a CAGR of 4.5% from 2021 to 2030.
Technological advancements and rise in prevalence of hearing loss among the geriatric population drive the growth of the global hearing amplifiers market
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Hearing loss is the loss of hearing in one or both ears, ranging from mild to profound. There are many causes, and it can affect anyone at any age, but it’s most common among people older than 60 years age.
The major causes for hearing loss are age-related hearing loss, exposure to excessive noise, or family history of genetic disorder. There are various solutions for hearing loss, including hearing amplifiers and aids. The hearing amplifiers is categorized into product, type, distribution channel, and region. Hearing loss is also associated with overuse of ototoxic drugs, trauma or injury to the head, Meniere’s disease, otosclerosis or autoimmune disease and acoustic neuroma.
Hearing loss has a major impact on the emotional, psychological, and social life; patients suffering from hearing loss get fewer educational and job opportunities due to impaired communication, social withdrawal due to reduced access to services and difficulties communicating with others, and emotional problems caused by a drop in self-esteem and confidence. This propels the development of effective solutions for the treatment of the same and advances in the hearing amplifiers. According to the National Institute on Deafness and other Communication Diseases, 15% of American adults suffer from hearing amplifiers. This also indicates that approximately 37.5 million of the U.S. residents have some trouble hearing.
Some of the other factors responsible for substantial market growth include increasing prevalence of hearing loss disorders globally, rising geriatric population globally, advances in the technology of hearing amplifiers and favorable regulatory scenario for the sales of the global hearing amplifiers market.
- The Covid-19 pandemic affected the hearing amplifiers market negatively due to lockdown measures that led to disruptions in the manufacturing activities and R&D activities.
- According to a new study conducted by Hearing Health Foundation, more than 87% of the people suffering from different hearing disorders faced difficulty in communication. Moreover, owing to the Covid-19 outbreak, the elective procedures were also postponed in several countries to take care of patients suffering from Covid-19 infection and prevent the possibility of cross-contamination.
- Many hospitals restricted visits from interpreters and instructors and they offered instructions through video conferencing.
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Leading Market Players
- Beurer GmbH
- Etymotic Research, Inc.
- Innerscope Hearing Technologies, Inc.
- IntriCon Corporation
- Sound World Solutions
- Otofonix Hearing Solutions
- MD Hearing Aid
- Cochlear Limited
- Eargo, Inc.
- Starkey Hearing Technologies
Hearing Amplifiers Market Report Highlights
|By Distribution Channel||
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Q10. What are hearing amplifiers used for ?
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