Hearing Amplifiers Market Size By Product (Behind-the-ear, In-the-ear), By Distribution Channel (Hospital Pharmacies, Online Pharmacies), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Hearing Amplifiers Market size surpassed USD 65 million in 2019 and is poised to grow at a CAGR of over 5.2% between 2020 to 2026.
 

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Increasing prevalence of hearing impairment cases, favourable regulatory scenarios, coupled with rising geriatric population prone to hearing loss are foremost factors driving the market growth over the forecast period. Moreover, the presence of organizations that ensure effective care for hearing impaired people along with technological advancements and ongoing product innovations are certain aspects that will fuel hearing amplifiers industry growth.
 

Rising cases of hearing loss disorders will drive the business progression

The increasing market growth of the hearing amplifiers is largely supported by increasing prevalence of hearing loss disorders over the past few years and the trend is predicted to continue over the forecast timeframe. The hearing loss generally arises due to the fault in the mechanism through which the external sound is conducted to inner parts or due to problems in the hearing organ or hearing nerve. The cause of hearing loss may be congenital i.e. acquired at the time of birth or acquired causes i.e. developed at any age. As per the data published by Johns Hopkins researchers, the number of people living with the hearing loss is expected to double by 2060.
 

Increasing awareness and number of screenings for hearing loss ultimately increases the number of people diagnosed with hearing loss. The rapidly growing aging population, increasing neonatal hearing loss screening and exposure to noise pollution are some of the other contributing factors for increasing prevalence of hearing loss disorders. Hearing amplifiers significantly improves a person’s hearing ability and help them in better comprehension of speech. Hence, the increase in hearing loss disorder will boost the hearing amplifiers market growth over the forecast period.
 

However, the social stigma associated with the wearing of hearing amplifiers is one of the reasons due to which people are reluctant to wear hearing amplifiers and this may further deter the market growth.
 

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Growing adoption of behind-the-ear hearing amplifiers will provide tremendous growth opportunities

The behind-the-ear product segment was valued over USD 45 million in 2019. Behind-the-ear hearing amplifier is a small electronic device that helps in improving hearing capability of a person and helps them to communicate better. The use of microphone, amplifier, and speaker amplifies the sound and aids people with hearing loss in better comprehension of speech. These hearing amplifiers are normally suitable for all age groups, catering for almost all types of hearing loss. Behind-the-ear hearing amplifiers are preferred over most in-the-ear hearing amplifiers as they provide greater amplification. These type of hearing amplifiers have the capacity for large hearing amplifiers battery sizes, so they can last longer.
 

Online pharmacies segment is expected to boost the hearing amplifiers industry growth

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The hospital pharmacies segment accounted for around 40% revenue share in 2019 owing to the increasing availability of over the counter hearing amplifiers as per consumers need. Hospital pharmacies provide over the counter hearing amplifiers for people with mild hearing loss or hearing loss caused by other medical conditions. Moreover, the geriatric population prefers to buy hearing amplifiers through hospital pharmacies because many of them are unaware of other new pharmacies including online pharmacies. Thus, the increasing demand for hearing amplifiers by consumers in hospital pharmacies will further augment segmental growth over the coming years.
 

Presence of foremost industry players in North America proves beneficial for the regional market growth

North America hearing amplifiers market share is expected to witness around 4.5% CAGR during the forecast period. The rising prevalence of hearing disorders in the region will drive the hearing amplifiers adoption rate. Also, strong government support and initiatives by the various regional organization are one of the contributing factors for hearing amplifiers business growth. Moreover, rapid technological advancements coupled with favorable reimbursement scenario will augment hearing amplifiers industry growth in upcoming years.
 

Increasing investments by prominent industry players to expand market share

Some of the prominent market players operating in the hearing amplifiers industry include Beurer, Etymotic Research, FocusEar, iHEAR Medical, IntriCon Corporation, Sound World Solutions, Otofonix, MDHearing, Banglijian, and Britzgo. The hearing amplifiers industry is in the developing phase and will witness immense growth opportunities in the forthcoming years. The companies operating in hearing amplifiers market are focusing on developing advanced products with better design and technology.
 

Some of the recent industry developments:

• In December 2017, IntriCon Corporation announced the acquisition of Hearing Help, a hearing aid providing company. Through this acquisition company have direct access to consumers and emerging value-based hearing healthcare market that will eventually boost company’s profits.
   
• In March 2018, iHear medical announced its partnership with Atlazo Inc., to develop an advanced digital hardware platform to power iHEAR's next generation of hearing aids and hearables. The strategy aimed at integrating advanced technologies in hearing solutions thereby enhancing company’s product offerings.
   

The hearing amplifiers market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in USD and Units from 2015 to 2026 for the following segments:

By Product

• Behind-the-ear
• In-the-ear

By Distribution Channel

• Hospital pharmacies
• Online pharmacies
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE