The analysts forecast the global hearing aid market to grow at a CAGR of 5.51% during the period 2018-2022.
Hearing aids are devices typically fitted in or behind the wearer's ear. They are designed to amplify and modulate sound. A typical hearing aid includes a microphone, receiver or speaker, amplifier and is powered by a battery.
The latest trend gaining momentum in the market is the increase in development of new products. The global hearing aid market is witnessing continuous development of new products as vendors are investing heavily in R&D. Such product upgrades in the market will lead to an increase in the demand for hearing aids.
One of the major drivers for this market is the global rise in the number of hearing loss patients. People working in high-decibel environments such as airports or factories are expected to suffer from hearing impairment. Furthermore, the growing global aging population is leading to a rise in hearing impairment incidences, in turn, fostering the demand during the predicted period.
The report states that one of the major factors hindering the growth of this market is the rising battery concerns for hearing aids. The battery life is often affected by environmental factors such as temperature, humidity, and the use of dry-aid kits. Low humidity causes batteries to drain fast while high humidity leads to leakage or swelling issues, in turn, hampering the growth of the hearing aids market during the predicted period.
- GN Store Nord
- William Demant Holding
Key Topics Covered:
1: Executive Summary
2: Scope Of The Report
3: Research Methodology
4: Market Landscape
5: Market Sizing
6: Five Forces Analysis
7: Market Segmentation By Product
8: Market Segmentation By Patients
9: Customer Landscape
10: Regional Landscape
11: Decision Framework
12: Drivers And Challenges
13: Market Trends
14: Vendor Landscape
15: Vendor Analysis
For more information about this report visit https://www.researchandmarkets.com/research/d2pjhp/global_hearing?w=4