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

Author : Ronak Bora | Published Date : 2020-09-02 

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 growing cases of hearing disorders in the geriatric population are likely to drive the global hearing amplifiers market over the coming years. In addition, technological advancements in the field would further compliment the product adoption rate and augment the overall industry share. Owing to the growing cases and rising consumer awareness levels, major manufacturers in the industry are increasingly focusing on innovating new, technologically advanced instruments that provide greater comfort and performance.

According to a research report by GMI Inc., the global hearing amplifiers market is likely to surpass a valuation of $95 million by the end of 2026.

Request for a sample copy of this report @ https://www.gminsights.com/request-sample/detail/672

Mentioned below are some key trends that are outlining hearing amplifiers market outlook:

Growing use of behind-the-ear products

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 addition, these amplifiers can be recharged through an exchangeable battery, making them more convenient for long-term use. Moreover, immense transformations in the hearing amplifiers with regards to design and technology over the past couple of years are expected to further instigate the segment share.

In 2019, hospital pharmacies accounted for a revenue generation of more than USD 25 million for the market with the growing availability of all types of hearing amplifiers over the counter. Hearing amplifiers with advanced features such as Bluetooth and a telecoil are easily available at hospital pharmacies. Also, surging demand for hearing amplifiers by hospital patients may boost business revenues.

Increasing product demand from hospital pharmacies

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.

Favorable revenue growth conditions in Europe

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.

Major industry players are increasingly making efforts to set themselves ahead of the competition in this rapidly growing market landscape. While the industry witnesses regular instances of acquisitions, partnerships, and investments, product launches are some of the common efforts undertaken by companies to extend their market reach. Taking April 2019 for instance, iHEAR Medical unveiled the next generation iHEARhd, its first in class home-programmable invisible hearing device for mild to 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. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/hearing-amplifiers-market

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)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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