Hearing Aids Market 2022 Global Key Players, Market Dynamics, Future Demand Analysis and Forecasts to 2031
Hearing Aids Market 2022
The global Hearing Aids Market manages diverse regional vital players and individuals to make this market prevailing at a tremendous rate. The global Hearing Aids Market is orchestrated into a couple of things, including different classes according to the regions and their demands. These sorts are quite comparable to one another, as shown by the collecting parts and applications.
The increasing prevalence of hearing loss, growing geriatric population, and continuous research & development for innovative hearing aids are some of the factors that will drive the global market at a CAGR of 5.2% to reach US$ 12.9 Bn by 2031. Furthermore, government support & assistance in procuring hearing aids and growing awareness about hearing devices and implants are also other demanding factors adding to market expansion.
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Demand for hearing aids is also increasing with the decrease in cost, thus providing access to a larger population. The predominant cause price drop is increasing number of emerging players in the market. Hearing technology today offers better hearing aids with advanced features and functionality. Reduction of wind noise is one of the major features incorporated by hearing aids manufacturers. Also, manufacturers are focusing on launching hearing aids with advanced software (smart hearing aids) to help users program these aids according to their needs.
For instance, in January 2020, Phonak (Sonova) introduced the next generation aid- Phonak Naida Marvel, which can be connected directly to Android or iOS smartphones and other Bluetooth devices. Also, users can enjoy hands-free calls, TV, music, e-books, and podcasts.
Livio Edge AI (Starkey), Phonak Audèo paradise (Sonova), Oticon More (Oticon, Inc.), ReSound LiNx Quattro (GN Group), and MOMENT RIC 10 (WS Audiology A/S) are some of the commercially available smart hearing aids in the market.
Company Profiles:
Audina Hearing Instruments, Inc.
Audina Hearing Instruments, Inc.
Starkey Laboratories, Inc.
Demant A/S
BHM-Tech Produktionsgesellschaft GmbH
GN Hearing
Microson
Sonova Holding AG
WS Audiology A/S
Eargo Inc.
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