Hearing Aids Market is expected to grow substantially in the coming years due to rising incidences of hearing loss and growing adoption of technologically enhanced products. Hearing aids are comparatively small devices that fit in the ear and used by partially deaf people. These devices help improve the hearing by making the sound audible for the person. The digital hearing aids differ in technology, features and design.
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The key driving factors responsible for the growth of Hearing Aids
market :
Hearing aids industry is
influenced by increasing number of patients suffering from hearing loss,
particularly the geriatric population, rising noise pollution from growing
traffic and industries, and technological advancements in the hearing aid
devices. Furthermore, increasing popularity of 3D printing in developed regions
is also driving the market growth of hearing aids. However, hearing aids market
is constrained by poor diagnostic techniques that leads to low adoption of the
devices and significant price of hearing aid equipment.
Increasing use of lithium-ion
batteries in hearing aid devices is one of the emerging trends in the market.
Another trend observed in the market is increasing focus of market players to
reduce size of the devices. However, growing levels of noise pollution in Asia
Pacific countries is offering lucrative opportunities in hearing aids industry.
Hearing aids market is
categorized on the basis of product type, technology, end user, application,
and geography. On the basis of product type, the market is divided into ITE
hearing aid, CIC hearing aid, ITC hearing aid, BTE hearing aid, and others.BTE
(behind-the-ear) hearing aid segment holds significant market share of hearing
aids due to increasing popularity and high efficiency.
Based on technology, the hearing
aid market is spit into audio in-put, radio frequency, infrared, Bluetooth, and
others. Bluetooth segment is estimated to grow significantly in the coming
years due to growing integration of the technology in various devices like
headphones. In terms of end users, hearing aids industry is bifurcated into
adults and children. Adults segment lead the market owing to the increasing
geriatric population in both developing and developed economies.
On the basis of application, hearing
aid market is divided into education, commercial, and healthcare. Healthcare
segment is expected to hold larger share of the market owing to the increasing
incidences of hearing-related issues due to noise pollution and growing use of
headphones.
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