Global Hearing Amplifiers Market Forecasted to Witness Multifold Growth till 2029 End

  • 26 Jul 2019

The Global Hearing Amplifiers Market is estimated to be valued at USD 87 Billion by 2029 end and is projected to register a CAGR of 5% during the forecast period 2019-2029.

The increasing prices of hearing aids coupled with the rising cost of hearing aids are expected to drive the hearing amplifiers market. The latest innovation in amplifiers in the form of wireless hearing amplifier is expected to drive the growth of the market. The rising geriatric population has been driving the growth of the market. The latest innovation in hearing amplifiers is propelling the market as well. Latest technological advancements also offer connectivity options with phones, thus resulting in inflation of the market.

The market is segmented into by product, by distribution channel, and by region. Based on the product, the market consists of on-the-ear and in-the-ear. On-the-ear is expected to be in massive demand during the forecast period 2019-2029. Advancements in the segment have led to an expansion of the market. On-the-ear is more preferred owing to its high efficiency and comfort. In the ear, amplifiers are expected to show significant growth. In-the-ear offer aesthetic and this factor is expected to elevate the market.  Recent in-the-ear amplifiers are well-matched with smartphones, thus leading to more preference amongst the geriatric population.

Based on the distribution channel, hospital pharmacies are expected to dominate the growth of the market. Hospital pharmacies offer medical conditions aimed at curing mild hearing loss or hearing loss. They have experienced and trained audiologist who supply hearing amplifiers as per the requirement and conditions. Such factors have fueled the demand for hospital pharmacies, thus positively influencing the market. Online pharmacy is expected to swell the market. Online pharmacies offer hearing amplifiers at low price with the latest innovation. The rising presence of online pharmacies in developed economies is escalating the market.

In terms of region, North America is the global leader of the market. Increasing the purchasing power of consumers in the region is set to positively influence the market.  Technological advancements alongside the presence of prominent players are positively influencing the market in the region. Europe is also expected to show significant growth. Multiple European nations have introduced reimbursement policies which have resulted in the expansion of audiology devices thus elevating the hearing amplifier market. Asia-Pacific region is expected to dominate the market in the coming years. Growing R&D investments coupled with the rapid increase of healthcare infrastructure is driving the growth of the market in the region. Rising patient awareness alongside growing disposable income has fueled the market in the region. Favorable government policies are also expected to accelerate market penetration in the region.

Established players of the market are Shenzhen LA Lighting Company Limited, Ziphearing, Austar Hearing Science and Technology Co., Ltd., Resound, Sound world solution, SoundHawk, and Foshan Vohom Technology Co.Ltd. 

Global Hearing Amplifiers Market Segmentation:

By Product

  • On-the-ear
  • In-the-ear

By Distribution Channel

  • Hospital Pharmacies
  • Online

Region

  • North America
  • Latin America
  • Europe
  • Asia-Pacific
  • Rest of World

Competitive Landscape: 

•    Tier 1 players- established companies in the market with a major market share 

•    Tier 2 players

•    Emerging players which are growing rapidly

•    New Entrants  

FutureWise Takeaways:

•    Growth prospects 

•    SWOT analysis

•    Key trends

•    Key data points affecting market growth 

Objectives of the Study:

•    To provide with an exhaustive analysis on the global hearing amplifier market based on the product, application type, and region

•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

•    To evaluate and forecast micro-markets and the overall market 

•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world

•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies 

 

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