Overview and Scope
Hearing amplifiers refer to sound-amplifying equipment designed to assist those with hearing loss. These wearable, personal sound amplification solutions use a microphone to capture sounds in the immediate area. They subsequently process sound and transmit it louder to the listener’s ear.
Sizing and Forecast
The hearing amplifiers market size has grown strongly in recent years. It will grow from $91.72 billion in 2023 to $97.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to aging population, awareness and education, consumer preferences, regulatory environment, distribution channels, healthcare access..
The hearing amplifiers market size is expected to see strong growth in the next few years. It will grow to $132.33 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to innovations in ai and connectivity, global demographic shifts, telehealth integration, customization and personalization, economic factors, regulatory developments.. Major trends in the forecast period include expansion into over-the-counter (otc) market, emphasis on user-friendly controls, incorporation of health monitoring features, collaboration with fashion and lifestyle brands..
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Segmentation & Regional Insights
The hearing amplifiers market covered in this report is segmented –
1) By Type: Analog Hearing Aids, Digital Hearing Aids
2) By Design: Behind-The-Ear (BTE), Mini Behind-The-Ear, In-The-Ear (ITE), In-The-Canal (ITC)
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Other Distribution Channels
North America was the largest region in the hearing amplifiers market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hearing amplifiers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising geriatric population is expected to propel the growth of the hearing amplifier market going forward. A geriatric population refers to a group of older people whose age is 65 or above and who are retired from work. The growing geriatric population results in an increased demand for hearing aids due to loss of hearing with the progression of age. One in three persons between the ages of 65 and 74 and almost half of those over 75 experience hearing loss, which is a prevalent issue among older folks. For instance, in October 2020, according to a report published by the United Nations Department of Economic and Social Affairs, a US-based population statistical agency, globally there are 727 million people aged 65 or older in 2020, and by 2050, it is anticipated that this population will have more than doubled to almost 1.5 billion people. Therefore, the rising geriatric population is driving the growth of the hearing amplifier market.
Key Industry Players
Major companies operating in the hearing amplifiers market report are International Business Machines Corporation, Microsoft Corporation, OpenText Corporation, Hyland Software Inc., Box Inc., Adobe Inc., Oracle Corporation, M-Files Corporation, Newgen Software Inc., Fabasoft AG, Micro Focus International plc, DocuWare Corporation, Everteam Global Services Inc., GRM Information Management Services Inc., SER Solutions Deutschland GmbH, Alfresco Software Inc., Kyocera Corporation, Epicor Software Corporation, Dropbox Inc., Nuxeo Corp., Objective Corporation, ASG Technologies Group Inc., SpringCM Inc., Systemware Inc., Xerox Corporation, Zoho Corporation, iManage LLC, Veeva Systems Inc.
The hearing amplifiers market report table of contents includes:
1. Executive Summary
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