The global market for the Hearing Aids is anticipated to develop at a compound annual growth rate (CAGR) of 8.1% throughout the course of the forecast, to reach USD 17.68
Increased occurrence of hearing disorders among the geriatric population has resulted in rising use of efficient hearing devices. One of the major challenges faced by the global healthcare sector is hearing disabilities among infants and war veterans. The demand for enhanced hearing aid devices has earned importance as untreated hearing loss in infants can further complicate and affect their academic, speaking and psychological abilities. Moreover, government’s initiatives for spreading awareness about hearing impairment and handiness of hearing aid devices in the market is expected to fuel the growth of global hearing aids market.
- population most susceptible to hearing damage is geriatric one. It adversely affect their social and personal life. For this reason, manufacturers are dedicatedly involved in developing and introducing cutting-edge hearing aid solution that has improved fitting, efficient sound quality and offer new hearing experience to profound hearing loss. However, products expensiveness and insufficient awareness about bringing hearing aid devices into service, is expected to hamper global hearing aids market share over the forecast period.
Global Hearing Aids Market: Dynamics
Identification of chief factors that will shape the global hearing aids market during the forecast period such as,
Rising noise pollutions levels:
Hearing sounds which is inclusive of the range 80- 90 dbA leads to the hearing loss and 140 dbA causes severe damage. Excessive noise pollution in heavy duty industries and public places may influence psychological health and creates sleeping disorders in individuals.
High Decibel Exposure and Digital Enhancement:
Exposing ear drum to loud music through headphones, bluetooth wireless devices and earphones is the main reason behind hearing loss among young demographic. Furthermore, people working in high-decibel environments such as ordnance factories and airports or construction workers exposed to dismantling work and loud drilling suffer from hearing loss because of overexposure.
Improper Devices and Diagnosis Methods:
Shortage of proper diagnosis methods result in lower adoption of hearing aids. Uncomfortable buzzing and sounds emitting from the devices can irritate the users, particularly the elderly, this can result in distracted thought processes while communicating.
Top trends impacting the global hearing aids industry:
Intelligent devices: Some software permit users to self-program and customize their device. For instance, by using Bluetooth wireless technology, user can adjust hearing aid’s settings.
3D printing technology: Manufacturers use this digitized option to shrink the manufacturing process of hearing aids to three steps: scanning, modeling and printing. Thus troubleshooting some of the concernsrelated to custom fits.
Introduction of next-generation devices:
One of the latest emerging technology in global hearing aids industry is use of Lithium-ion batteries since they can retain as long as the lifeline of hearing aid device. Silver zinc rechargeable batteries are at an inception level, acclaiming to be harmless for both user as well as environment. NASA was the first to incorporate these batteries into practical use before these batteries entered the commercial sector.
However, use hearing aids devices can lead to number of issues including feedback problem, ear wax and moisture problems and size issues. Hence, individuals with extreme hearing loss rely on expert opinion from hearing aid professionals before purchasing it. As a result of this companies are approaching Audiology clinics and ENT clinics to demonstrate their products. They are also focusing on the devices providing comfort, size and additional cleaning kit to maintain the device. One of the most prominent player in hearing aid device is Oticon Hearing Aids
Oticon Hearing Aids
According to a study, instead of ears, humans hear with their brain. It is a cognitive process –that occurs in the brain. Lesser the details brain is able to fetch, harder it gets to decode. Oticon, with lesser efforts, operate its functioning by depending on how the brain makes sense of sound. The company call this approach as BrainHearing
From the most initial step of detecting simplest sounds to complying most intricate listening activities, the whole and sole organ responsible for interpreting every sound a person hears is, the Brain. With Oticon device, one can experience better hearing with less effort by preserving the important details in speech, storing individual’s personal listening preferences into account and operating as a system to help locate sound.
Key company profile in the Global Hearing Aids Market report AS AUDIO-SERVICE GmbH, Audina Hearing Instruments, Demant A/S, EARTECHNIC, GN Store Nord A/S, Sonova Holding AG, Starkey, WS Audiology, RION Co. Ltd, Eargo, Inc., ZOUNDS Hearing Inc., Elkon Pvt Ltd, Horentek Hearing Diagnostics, SeboTek Hearing Systems, Nano Hearing Aids, IN4 Technology Corporation, and Microson
Hearing Aids Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||Product, by Type of Hearing Loss, by Patient Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
Key segments of the Hearing Aids Marke
by Product, 2022 to 2030 (USD billion)
- Hearing Aid Devices
- Receiver-In-The-Ear (RITE) Hearing Aids
- Behind-The-Ear (BTE) Hearing Aids
- Canal Hearing Aids
- In-The-Ear (ITE) Hearing Aids
- Other Hearing Aid Devices
- Hearing Implants
- Cochlear Implants
- Bone-anchored Systems
by Type, 2022 to 2030 (USD billion)
- Sensorineural Hearing Loss
- Conductive Hearing Loss
by Patient Type, 2022 to 2030 (USD billion)
Region Overview, 2022 to 2030 (USD billion)
- North America
- United States of America
- the Netherlands
- The United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America