2018 Industry Trends in Global Hearing Amplifiers Market
Date: 2018-11-01   Author: Rahul Sankrityayan  Category: #industry

2018 Industry Trends in Global Hearing Amplifiers Market

The Hearing Amplifiers Market will exceed USD 84 million by 2023 as per a new research report.
Growing prevalence of deafness and hearing loss ailments such as conductive and sensorineural hearing loss is the high impact growth rendering driver for this market. Increasing elderly population vulnerable to hearing ailments will drive the global hearing amplifiers market over the forecast timeframe.

Favorable government initiatives to improve hearing healthcare accessibility will augment hearing amplifiers market growth over the coming years. For instance, The NIH has launched a multipronged research initiative addressing patient needs for better accessibility and affordability of hearing devices.

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Significant technological advancements and development of aesthetically appealing devices will fuel industry expansion over the forecast timeframe. For instance, the development of Here One, smart wireless ear-buds with real-world sound control technology by Doppler Labs has paved the way for hearing amplifiers market. Growing application of these devices for treating hearing ailments of the elderly patient base should foster market growth.

Stringent regulatory scenario pertaining to personal sound amplification products (PSAPs) will act as the major restraining factor for market growth. Alteration in self-perception, vanity and aging leading to social hearing loss stigma is other key factor impeding the market growth over the forecast period.

On-the-ear hearing amplifiers market is leading the industry and was pegged at USD 40.9 million in 2015. Owing to the popularity of these devices due to their easy-of-use, fit and clean, robustness and producing minimal feedback should propel industry growth. Further, increased efforts of manufacturers to develop sophisticated products such as digital hearing assisted devices will boost demand.

In-the-ear personal sound amplifiers market will grow at a faster pace with a CAGR of 5.2% owing to rising demand from patient base for efficient hearing devices eliminating negative perceptions and social stigmas propelling market growth over the forecast timeline.

UK dominated Europe hearing amplifiers market in 2015 by accounting for largest revenue share followed by Germany. Favorable regulatory scenario along with increasing prevalence of hearing loss disorders will foster industry growth. Moreover, presence of industry players such as Bragi, a German company developing smart custom-made wireless ear computers will drive Germany hearing amplifiers market growth.

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Growing number of baby boomers and rising healthcare spending will drive India hearing amplifiers market during the forecast period. Increasing prevalence of hearing ailments will stimulate demand for hearing amplifiers in this region.

Few notable industry players are Doppler Labs, Bragi, Samsung Electronics, Onsemi, Earlens Corporation, Starkey Hearing Technologies, EarGo, Songbird Hearing, Intricon, Etymotic Research, Focus Ear, iHear Medical, Soundhawk Corporation and So Special Labs.

Industry players are focusing their efforts to develop technologically advanced hearing devices to cater specific patient needs and gain a competitive edge in the market. The participants are also resorting to partnerships, joint ventures and acquisition strategies to sustain in the market.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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