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2019 Industry Trends in Global Hearing Amplifiers Market

Author : Rahul Sankrityayan | Published Date : 2019-04-17 

Global Hearing Amplifiers Market is estimated to reach USD 84.4 million by 2023; as per a new research report by Global Market Insights, Inc. Increasing prevalence of hearing impairment cases coupled with growing geriatric population prone to hearing loss is the key factor driving hearing amplifiers market growth. As per the United Nations, people aged 60 years and above was around 962 million in 2017. This number is estimated to show two-fold growth to reach 2.1 billion by 2050. In addition, presence of organizations that ensure effective care for people with hearing impairment will further fuel hearing amplifiers business growth in the foreseeable future.

Technological advancement in hearing amplifiers and ongoing product innovations will render positive impact on the hearing amplifiers industry growth. Availability of amplifiers with advanced features including analysis of user environment and adjustment of the inputs, noise reduction as well as wind noise managers to filter out unpleasant noise will increase its adoption among the patient population. However, social stigma associated with the wearing of hearing aids may impede the market growth to certain extent in the coming years.

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Product Trends

The industry is segmented into various products like In-the-ear hearing aid amplifier and on-the-ear hearing aid amplifier. In-the-ear hearing amplifier segment is predicted to record CAGR of more than 5.21% during forecast timeline. Current technological innovations like creation of non- removable or permanent hearing aids that function on induction charge than battery charge to revive damaged components using stem cells are predicted to drive the segment growth.

On-the-ear hearing aid amplifier segment led global hearing amplifiers market share for 2015 by contributing about 70.1% to total revenue during that year. Growth of the segment can be credited to factors like favorable regulations and growing device popularity among patients.

Regional Trends

Global industry is segmented into key geographical regions like North America, Europe, MEA, APAC and Latin America. Europe hearing amplifiers market size is biggest and was evaluated at $24.41 million for 2015. Germany and UK combined made significant contribution to total revenue of Europe. High occurrence of hearing problems and favorable regulations are the factors predicted to drive the regional industry growth.

APAC industry is predicted to register maximum CAGR of 8.71% during forecast timeline. Large proportion of unexplored patient pool in the region, improved healthcare facilities and growing purchasing capacity of people is predicted to drive regional industry growth. Countries like India and China are key contributors to the industry growth of the region.
 
Competitive Trends

Key industry players profiled in the report include Soundhawk Corporation, Motorola Mobility, ShenzhenEnJoYou Electronics Company Limited, iHear Medical, IntriCon, Samsung Electronics, Starkey Hearing Technologies, Etymotic Research Incorporation, Earlens Corporation, Doppler Labs, Focus Ear LLC, Songbird Hearing Incorporation, Onsemi, Bragi, Nuheara, So Special Labs, EarGO and Sivantos Incorporation.

The industry is oligopolistic in nature with only few key industry players dominating global hearing amplifiers market. For instance, limited number of industry participants like GN Resound, Sonova, Widex and William Demant together contributed about 80% of the total industry share for 2015. The industry witnesses less product differentiation and tough price based competition among the participants.

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Hearing Amplifiers Market, By Product (USD Million)

On-the-ear
In-the-ear

Hearing Amplifiers Market, By Distribution Channel (USD Million)

Hospital Pharmacies
Online Pharmacies

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, 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 technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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