The increasing prices of hearing aids coupled with the rising cost of hearing aids are expected to drive the hearing amplifiers market. The latest innovation in amplifiers in the form of wireless hearing amplifier is expected to drive the growth of the market. The rising adoption of personal sound amplification products is also augmenting the market. Rising investments in R&D is also promoting the market.
Global Hearing Amplifiers Market Overview
The market is segmented into by product, by distribution channel, and by region. Based on the product, the market consists of on-the-ear and in-the-ear. The on-the-ear amplifier is more in demand owing to its comfort, high connectivity and high efficient. In the ear, amplifiers are expected to show significant growth. In-the-ear offer aesthetic and this factor is expected to elevate the market.
Based on the distribution channel, hospital pharmacies are expected to dominate the growth of the market. Hospital pharmacies have experienced audiologist who supply hearing amplifier as per the requirement. Online pharmacies are also expected to show significant growth during the forecast period. Expansion of e-commerce is expected to have a positive influence on online pharmacy.
Based on regions, In terms of region, Europe and North America hold a vast share of the market. Introduction of advanced technologies alongside a rising prevalence of deafness are some of the key factors driving the growth of the market in these regions. Multiple European nations have introduced reimbursement policies which have resulted in the expansion of audiology devices thus elevating the hearing amplifier market. Asia-Pacific region is also expected to be a lucrative region for manufacturers. Rising disposable income alongside developed health infrastructure is promoting the market in the region. The imposition of favorable policies by the government is also escalating the growth of the market in the region.
Established players of the market are Shenzhen LA Lighting Company Limited, Ziphearing, Austar Hearing Science and Technology Co., Ltd., Resound, Sound world solution, SoundHawk, and Foshan Vohom Technology Co.Ltd.
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Additional Insight:
• Innovation and launches of new product are expected to play a significant role in the expansion of the market. Sound World solutions have launched CS10 which comes with connectivity options to the iPhone via Bluetooth
• It is designed in a way that amplifies sound for non-hearing consumers through its app. It also provides enhanced listening experiences for business meetings, family gatherings, and phone calls
Global Hearing Amplifiers Market Segmentation:
By Product
• On-the-ear
• In-the-ear
By Distribution Channel
• Hospital Pharmacies
• Online
Region
• North America
• Latin America
• Europe
• Asia-Pacific
• Rest of World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Key Takeaways
• According to industry experts, Europe and Asia are forecasted to witness significant growth. Increasing the purchasing power of consumers in these regions is set to positively influence the market
Objectives of the Study:
• To provide an exhaustive analysis of the global hearing analytical market on the basis of product, distribution channel, and region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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