Hearing Aid Market Size to grow by USD 3.72 Billion | 37% of the growth contribution from Europe | Technavio – Yahoo Finance

NEW YORK, April 19, 2022 /PRNewswire/ — The hearing aid market analysis report has been added to Technavio’s catalog. The market is anticipated to witness an accelerating growth momentum at a CAGR of almost 7.73%. 37% of the market’s growth will originate from Europe during the forecast period. Germany, the UK, and France are the key markets for hearing aid in Europe. The rise in the aging population and the prevalence of hearing loss will facilitate the hearing aid market growth in Europe over the forecast period. In terms of product, the hearing aids segment held the largest market share in 2021 and the segment will continue to account for the largest share throughout the forecast period.

Technavio has announced its latest market research report titled Hearing Aid Market by Product and Geography – Forecast and Analysis 2022-2026

Unlock regional highlights and other segment insights, Read Sample Report

Key Market Dynamics

Rising Number of Patients with Hearing Loss.

Genetic factors, noise pollution, trauma, aging, and bacterial infections are some of the causes of hearing impairment. Extensive emission of noise in heavy-duty industries also damages the hearing capacity of adults. Loud noise during drilling and dismantling operations can lead to hearing problems for construction workers. These are some of the factors that increase the chances of hearing loss among people and are expected to foster the demand for hearing aids during the forecast period.

Battery Concerns for Hearing Aids.

Advanced and multipurpose hearing aid devices witness the problem of less battery life. The battery life of hearing aids is affected by a number of variables. One of the major factors is the battery milliamp-hour (mAh) rating. Furthermore, factors of hearing aids such as signal intensity, gain control, sound input, and discharge voltage level also affect the battery life. Low humidity can cause a battery to drain fast due to batteries drying out faster under such conditions. Such factors are expected to negatively affect the market during the forecast period.

Access our detailed 131-page report and 127-Exhibits on Hearing Aid Market by Product and Geography – Forecast and Analysis 2022-2026 at: https://www.technavio.com/report/report/hearing-aid-market-size-industry-analysis

Story continues

Major Five Hearing Aid Companies:

• Amplifon SpA: The company offers In-The-Ear, Receiver In-The-Ear Canal, and Behind-The-Ear …….

  Source: https://finance.yahoo.com/news/hearing-aid-market-size-grow-144000796.html

  Tags: RSS Feeds