SELBYVILLE, Delaware, June 24, 2020 /PRNewswire/ -- Global Market Insights, Inc. has recently added a new report on hearing amplifiers market which estimates the global market valuation for hearing amplifiers will cross US$ 95 million by 2026. The increasing technological advancements coupled with surging incidence of hearing disorder among the older population will drive the business growth during the forecast period.
The hearing amplifiers industry has observed considerable changes over the past last decades. However, manufacturers of hearing amplifiers market are consistently aiming at the development of technologically advanced instruments that offer greater comfort. The latest hearing amplifiers come with several automated features that analyze the user's environment and adjust the inputs accordingly. The latest hearing amplifiers also has the feature of noise reduction that filter out the unpleasant noise for the users. Other top features include advanced speech recognition, maximum number of sound channels, and tinnitus management program.
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Recent digital hearing amplifiers are increasingly smaller in size, and stylish. With the technological advancements, the size of hearing amplifiers has been reduced significantly making them almost invisible to naked eyes. Technological advancements in hearing amplifiers that offer greater comfort will escalate the adoption rates influencing the demand for hearing amplifiers. Hence, the aforementioned factors prove beneficial for the overall business progression.
The behind-the-ear product segment accounted for over 65% market share in 2019. Behind-the-ear hearing amplifiers support an individual's hearing ability. Behind-the-ear amplifiers amplify sounds and then transmit these to the ear. Behind-the-ear is rechargeable amplifiers with an exchangeable battery. The industry has witnessed the vast changes in hearing amplifiers in terms of technology and designs over the past few years that will further augment hearing amplifiers business growth.
The hospital pharmacies segment witnessed around USD 25 million in 2019. Hospital pharmacies segment will witness considerable market growth owing to increasing availability of all types of hearing amplifiers over the counter. Hospital pharmacies provide hearing amplifiers having advanced features such as Bluetooth and a telecoil. Furthermore, increasing demand for hearing amplifiers by consumers in hospital pharmacies will further augment segmental growth over the coming years.
Browse key industry insights spread across 220 pages with 178 market data tables & 9 figures & charts from the report, "Hearing Amplifiers Market Share & Forecast, 2020 – 2026" in detail along with the table of contents:
Europe hearing amplifiers market will witness around 5% CAGR during 2020 to 2026. Increasing prevalence of hearing loss disorder, rising elderly population, and growing government initiatives are the foremost factors driving hearing amplifiers market growth. According to the 2017 manifesto by the European Coalition on Hearing Loss and Disability, around 10% of the overall population that is 52 million individuals experience hearing loss as per. Thus, the above-mentioned factors will drive the market growth.
Some major findings of the hearing amplifiers market report include:
- The growing technological advancements in hearing amplifiers will boost the overall market growth.
- Increasing geriatric population base prone to hearing disorder will fuel the hearing amplifiers industry growth.
- Increasing availability of all types of hearing amplifiers over the counter will drive the hospital pharmacies market growth.
Some of the eminent business players operating in the hearing amplifiers industry include Beurer, Etymotic Research, FocusEar, iHEAR Medical, IntriCon Corporation, Sound World Solutions, Otofonix, MDHearing, Banglijian, and Britzgo. These industry players are implementing various strategies including product innovations, mergers, and acquisitions to gain competitive advantage. For instance, in November 2019, Beurer introduced new hearing amplifiers at MEDICA. The new digital hearing amplifier collection consists of different designs for individual needs.
Browse complete reports table of contents (ToC): https://www.gminsights.com/toc/detail/hearing-amplifiers-market
Partial chapters of report table of contents (TOC):
Chapter 2. Executive Summary
2.1. Hearing amplifiers industry 3600 synopsis, 2015 – 2026
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Distribution channel trends
2.1.4. Regional trends
Chapter 3. Hearing Amplifiers Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2015 - 2026
3.3. Industry impact forces
3.3.1. Growth drivers
220.127.116.11. Increasing prevalence of hearing loss disorders globally
18.104.22.168. Rising geriatric population globally
22.214.171.124. Technological advancements
126.96.36.199. Favorable regulatory scenario in developed economies
3.3.2. Industry pitfalls and challenges
188.8.131.52. Social stigma associated with wearing hearing amplifier
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By distribution channel
3.5. COVID-19 impact analysis
3.6. Porter's analysis
3.7. Competitive landscape, 2019
3.7.1. Competitive matrix analysis, 2019
3.8. PESTEL analysis
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