The Hearing Aid Devices And Equipment Global Market Report 2023 by The Business Research Company, provides hearing aid devices and equipment market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Hearing Aid Devices And Equipment Global Market Report 2023, the global hearing aid devices and equipment market size will grow from $10.21 billion in 2022 to $10.9 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global hearing aid devices and equipment is expected to grow from $13.97 billion in 2027 at a CAGR of 6.4%.
The growing prevalence of hearing loss is a major driver for hearing aid devices and equipment market growth. In the United States, more than 35 million children and adults have some degree of hearing loss. Also, around 900 million people across the globe are expected to suffer from hearing disabilities by 2050 due to the rise in noise pollution levels, genetic factors, ear infections, and other complications. A high number of people suffering from hearing loss would result in huge demand for hearing aid devices and equipment markets across the globe.
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The hearing aid devices and equipment market is segmented:
The use of 3D Printing is a trend that is prevalent in the hearing aid devices market. 3D printing is a technology that produces 3D objects from the 2D models which enable the manufacturing of better fitting, more comfortable, and customized hearing aid devices. The 3D printing enables the shape of the ear shell to be customized according to the customer’s ear canal and degree of hearing loss. For example, Sonova uses advanced 3D printing technology to produce customized hearing aid devices especially suited for each customer’s specific requirements. Examples of 3D hearing aid devices include EnvisionTEC’s E-Shell 200 Series, E-Shell 300 3D Printer Material series, and EnvisionTEC E-Clear series.
The hearing aid devices and equipment market report table of contents includes:
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