Hearing Amplifiers Market size is poised to cross USD 155.5 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of hearing amplifiers was USD 82.5 Million. The reason behind the growth is impelled increasing elderly population across the globe. Age-related hearing loss is very common and frequently goes undiagnosed therefore, senior citizens who have trouble hearing in noisy settings can use hearing amplifiers to gain in communication and quality of life and to hear surroundings better, including simple sounds such as footfall and computer noise. For instance, more than 770 million people worldwide, or over 9% of the world's population, will be over 65 in 2022.
The growing launch of specialized products is believed to fuel the hearing amplifiers market growth. For instance, EssilorLuxottica announced to launch of a new hearing technology with a virtually invisible hearing technology inside stylish spectacles for more than 1 billion people that will help assist them to overcome "a psychological barrier" surrounding the adoption of hearing aids.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~5% |
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Base Year Market Size (2023) |
~ USD 82.5 Million |
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Forecast Year Market Size (2036) |
~ USD 155.5 Million |
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Regional Scope |
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Product (Behind-the-Ear, In-the-Ear)
The behind-the-ear segment in the hearing amplifiers market is estimated to hold 62% of the revenue share in the coming years owing to the rising cases of hearing loss across the globe. Loss of hearing can range from minor to profound to severe which can affect one or both ears, and it happens when sound normally enters the ear but cannot be understood, followed, or participated in during a conversation owing to damage to the inner ear or the hearing nerve that can have an impact on how well you work, interact with others, and generally enjoy life.
The main factors contributing to the rising trend in hearing loss are demographic shifts brought on by early-onset hearing loss in children, recurring middle ear infections, noise-induced hearing loss, and age-related hearing loss. Moreover, people with hearing loss can improve their hearing and speech understanding by using hearing aids, which amplify sounds so that a person with hearing loss can listen, converse, and take part in daily activities to a greater extent. All these factors are expected to drive the demand for the most popular type of hearing aid in the world known as BTE, or behind the ear which consists of a hard plastic casing worn behind the ear and is meant especially for those with a wide range of hearing loss, from slight to profound. By 2050, debilitating hearing loss is expected to impact over 500 million individuals globally.
Additionally, the in-the-ear segment is anticipated to gain a notable market share by the year 2036. The in-the-ear hearing amplifier is appropriate for users with slight hearing loss as the amplification of the softest sounds is accomplished with an amplifier that has more than 11,000 outer hair cells.
Sales Channel (Online Retail Sales, Offline Retail Sales)
Hearing amplifiers market from the offline retail sales segment is set to garner a notable share of 70% shortly. Many patients with hearing ailments desire to purchase amplifiers from a retail establishment as they get the opportunity to touch and feel things at physical stores allowing them to investigate a product's non-digital features.
Furthermore, the online retail sales segment is poised to garner significant market share during the forecast timeframe. Customers now purchase more products online as it is challenging to describe advancements in medical equipment such as hearing amplifiers in offline retail and also allows to compare medical supplies and equipment costs online and purchase them at a competitive price.
Type (Analog Hearing Aids, Digital Hearing Aids)
The analog hearing aids segment is expected to gain a robust revenue share in the coming years. An analog hearing aid mimics the operation of a microphone connected to a speaker by amplifying all sounds in the same manner and is typically less expensive than digital counterparts, and they may even be louder and more powerful.
Our in-depth analysis of the global market includes the following segments:
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Product |
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Sales Channel |
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Type |
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North American Market Forecast
Hearing Amplifiers market in North America is predicted to account for the largest share of 37% by 2036 impelled by the increasing funding in healthcare. This has significantly increased the number of product launches in the region. The Food and Drug Administration (FDA) has given hearing aids their approval for over-the-counter sale in the US. With an emphasis on innovation, accessibility, and customization, to improve the lives of consumers by fusing its exclusive premium technology, maximum use, uncompromising comfort, and wearability,
According to estimates, in 2021, the United States spent over 2.4% more on health care, amounting to around USD 4.1 trillion.
APAC Market Statistics
The APAC Hearing Amplifiers market is estimated to be the second largest, during the forecast timeframe led by rising personal disposable income. This has led to an increase in spending by the government on healthcare spending which is expected to drive the demand for hearing aids including hearing amplifiers in the region. India's household disposable income is anticipated to reach over USD 2 trillion in 2023.
Author Credits: Radhika Pawar
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