Zion Market Research has published a new report titled “Hearing Amplifiers Market by Design (Behind-the-ear (BTE), Mini BTE, In-the-ear (ITE), In-the-canal (ITC)), Type (Analog hearing aids and Digital hearing aids): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”.
According to the report, global demand for hearing amplifiers Market was valued at approximately USD 7186.5 Million in 2018, and is expected to generate revenue of around USD 11710.45 Million by end of 2025, growing at a CAGR of around 7.23 % between 2018 and 2025
Audio amplifiers are often referred to as Personal Sound Amplification Devices (PSAP). PSAPs do not require medical prescription and skilled fitting. Hearing amplifiers or PSAPs are readily available from the box. PSAPs come in different forms in price ranges, performance values, weight, and computer algorithms, and customers can choose based on their order. Hearing amplifiers can come with directional microphones and customizable equalization of audio signals that make it possible to lighten ambient or foreign noise. However, hearing amplifiers or PSAPs are not medically recommended substitutes for hearing aids and in many cases the patient’s hearing ability has been deteriorated due to amplified noises blasted into the patient’s ear drums.
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The growing number of hearing impairment combined with rising prices of hearing aids is expected to drive the hearing amplification market over the predictive era. A majority of consumers prefer hearing amplifiers and PSAPs because they are considered a cheap replacement for hearing aids. A new generation of amplifiers using the latest wireless technologies now provide innovative solutions for people with hearing loss and the market is expected to increase popularity among patients with hearing impairment due to rising costs of hearing aids. Hearing amplifiers and PSAPs intended to amplify sounds in any recreational setting are excluded from the FDA and can be sold directly to consumers without the prescription requirement of a doctor as electronic devices. The number of hearing loss cases in the United States has doubled in 30 years.
The market for Hearing Amplifiers is segmented based on Design, Type and region. Based on Design, the market is segmented into Behind-the-ear (BTE), Mini BTE, In-the-ear (ITE), In-the-canal (ITC). The demand for in-the-ear hearing amplifiers dominated the hearing amplifier market. The demand for on – the-ear hearing amplifiers is projected to be high over the period from 2016 to 2025, driven mainly by its growing popularity among patients along with supporting regulatory activities.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. In 2018, Europe accounted for the largest share of the audit amplifier market. The increasing prevalence of deafness and the acceptance of technological advances and the subsequent increase in awareness levels are some of the key factors expected to lead to rising demand for hearing aids in Europe. Consequently, the growth of the audiological device market in this region also depends on each European nation’s reimbursements. More than 900 million people worldwide will experience hearing loss by 2025, according to research conducted by the British MRC Institute for Hearing Research. Out of this population will be about 90 million patients from Europe. Anteunis (1999) estimated that some degree of hearing impairment affects up to 20 percent of adults (52 million Europeans) and 36 percent of the aging population. Asia-Pacific is expected to see rapid growth over the projected period. Increasing deafness prevalence is expected to drive the growth of this market for regional hearing amplifiers, particularly in the aging population coupled with improvement in the global market player distribution network.
Some of the players included in Hearing Amplifiers market are Sonova, William Demant, and GN Store Nord with the presence of several small players as well. Some of the players operating in this market include Cochlear, Starkey, Widex, MED-EL, SeboTek Hearing Systems, Audina Hearing Instruments, RION, Horentek, Microson and Arphi Electronics amongst others.
The report segments global Hearing Amplifiers market as follows:
Global Hearing Amplifiers Market: Design Segment Analysis
Global Hearing Amplifiers Market: Type Segment Analysis
Global Hearing Amplifiers Market: Regional Segment Analysis
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