Global Hearing Amplifiers Market to grow at 4.8% CAGR from 2016 to 2023

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Hearing Amplifiers Market to hit 84mn by 2023
Fractovia.org
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Key Insights of Hearing Amplifiers Market

• Global Hearing Amplifiers Market size was
  evaluated at 58.11 million for 2015 and is
  predicted to register CAGR of about 4.81 during
  forecast timeframe. Significant rise in aging
  population along with increasing occurrence of
  hearing problems have led to launch of
  aesthetically appealing equipments like hearing
  amplifiers and this has boosted industry growth
  during forecast timeframe.
• As per WHO(World Health Organization)reports,
  population with 65 years of age and above is
  projected to grow by 16.1 in 2050. As old age is
  considered as one of key risk factors giving rise
  to hearing problems ,the predicted increase in
  aging population is a major driver boosting
  industry growth.
• Further, technological breakthroughs like launch
  of small sized hearing aids requiring less power
  and offering clear voice is predicted to promote
  hearing amplifiers market trends. In addition to
  this, growing demand for cosmetically appealing
  and hardly visible hearing aids suitable for
  modern lifestyle along with high purchasing
  capacity of population is predicted to propel
  industry demand.

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Continued

• The industry is segmented into various products
  like In-the-ear hearing aid amplifier and
  on-the-ear hearing aid amplifier. In-the-ear
  hearing amplifier segment is predicted to record
  CAGR of more than 5.21 during forecast timeline.
  Current technological innovations like creation
  of non- removable or permanent hearing aids that
  function on induction charge than battery charge
  to revive damaged components using stem cells are
  predicted to drive the segment growth.
• On-the-ear hearing aid amplifier segment led
  global hearing amplifiers market share for 2015
  by contributing about 70.1 to total revenue
  during that year. Growth of the segment can be
  credited to factors like favorable regulations
  and growing device popularity among patients.
• Global industry is segmented into key
  geographical regions like North America, Europe,
  MEA, APAC and Latin America. Europe hearing
  amplifiers market size is biggest and was
  evaluated at 24.41 million for 2015. Germany and
  UK combined made significant contribution to
  total revenue of Europe. High occurrence of
  hearing problems and favorable regulations are
  the factors predicted to drive the regional
  industry growth.

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U.S. Hearing Amplifiers Market Size, by Product,
2012 2023 (USD Million)

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Continued.

• APAC industry is predicted to register maximum
  CAGR of 8.71 during forecast timeline. Large
  proportion of unexplored patient pool in the
  region, improved healthcare facilities and
  growing purchasing capacity of people is
  predicted to drive regional industry growth.
  Countries like India and China are key
  contributors to the industry growth of the
  region.
• Key industry players profiled in the report
  include Soundhawk Corporation, Motorola Mobility,
  ShenzhenEnJoYou Electronics Company Limited,
  iHear Medical, IntriCon, Samsung Electronics,
  Starkey Hearing Technologies, Etymotic Research
  Incorporation, Earlens Corporation, Doppler Labs,
  Focus Ear LLC, Songbird Hearing Incorporation,
  Onsemi, Bragi, Nuheara, So Special Labs, EarGO
  and Sivantos Incorporation.
• The industry is oligopolistic in nature with only
  few key industry players dominating global
  hearing amplifiers market. For instance, limited
  number of industry participants like GN Resound,
  Sonova, Widex and William Demant together
  contributed about 80 of the total industry share
  for 2015. The industry witnesses less product
  differentiation and tough price based competition
  among the participants.

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