Worldwide Hearing Aid Industry to 2026 – Key Players Include Sonova Holding, Sivantos and Cochlear Ltd Among – GlobeNewswire
Dublin, July 16, 2021 (GLOBE NEWSWIRE) — The “Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global hearing aid market exhibited moderate growth during 2015-2020. A hearing aid is a small battery-powered electronic device that is used to improve hearing and is worn in or behind the ear. It is used to amplify the sounds to listen, communicate and participate in the d…….
Dublin, July 16, 2021 (GLOBE NEWSWIRE) — The “Hearing Aid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026” report has been added to ResearchAndMarkets.com’s offering.
The global hearing aid market exhibited moderate growth during 2015-2020. A hearing aid is a small battery-powered electronic device that is used to improve hearing and is worn in or behind the ear. It is used to amplify the sounds to listen, communicate and participate in the daily activities by individuals with low hearing abilities. A hearing aid consists of an amplifier, microphone and a speaker that magnifies sound vibrations entering the ear, perceive larger vibrations and convert them into neural signals that are passed into the brain. The devices are available in a wide range of designs and are customized according to the requirements of the user. For instance, the device may have analog or digital technology for amplification of sound or have earpieces or earmolds to direct the flow of soundwaves and enhance the output quality.
The rising geriatric population across the globe is one of the key factors driving the growth of the market. Old age is often characterized by a gradual hearing loss, which increases the product demand from this section of the population. Furthermore, there has been a significant increase in the incidence of hearing disabilities among the masses. A significant number of cases, especially that of infants, remain untreated, which then results in various psychological and speaking disabilities. Additionally, the introduction of aesthetically appealing designs, coupled with the launch of innovative product variations such as waterproof hearing aids, is also contributing to the market growth.
The implementation of digital technology coupled with the introduction of products that integrate cochlear implant and hearing aid technology to overcome the high-frequency hearing loss is expected to further create a positive outlook for the market. Other factors such as rising noise pollution levels, growing cases of birth complications and ear infections, increasing disposable income and enhanced focus on research and development (R&D) by manufacturers are also expected to drive the market growth. Looking forward, the publisher expects the global hearing aid market to grow at a CAGR of around 6% during 2021-2026.
Report Coverage:
- Historical, Current and Future Market Trends
Market Breakup by Product Type:
- Hearing Devices
- Behind-the-Ear (BTE)
- Receiver-in-the Ear (RITE)
- In-the-Ear (ITE)
- Canal Hearing Aids (CHA)
- Others
- Hearing Implants
- Cochlear Implants
- BAHA Implants
The market has been bifurcated on the basis of the type, which includes hearing devices and hearing implants, wherein hearing devices are the most popular product type, which has been further categorized as behind-the-ear (BTE), receiver-in-the ear (…….
