Press release
Remote diagnostic platforms to simulate the Hearing Aids Market at a CAGR of 5.2%
Market Overview:
The global hearing aids market was valued at US$ 7.4 Bn in 2020, and is expected to register a CAGR of 5.2% and reach a valuation of US$ 12.9 Bn by the end of 2031.As per Persistence Market Research's projections, Receiver-in-the-Ear (RIE) hearing aids hold a substantial share by product with around 82.3% market share in 2021. In 2020, hearing aid sales accounted for approx. 56.1% of the global hearing healthcare market share.
Hearing aid shipments accounted for a market value is US$ 7.4 Bn in 2020, mainly due to technological advancements in hearing aids and increasing adoption of smart hearing aids owing to rising incidence of noise-induced hearing loss.
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Companies:
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.
Drivers and Restraints:
The hearing aids market is driven by several factors such as the increasing prevalence of hearing loss among the aging population, rising awareness about hearing loss, and advancements in technology leading to improved product offerings. Moreover, the growing demand for wireless hearing aids and the availability of favorable reimbursement policies are also contributing to the growth of the market. However, there are certain restraints that can hinder the growth of the market such as the high cost of hearing aids, limited access to healthcare services, and the stigma associated with wearing a hearing aid. Additionally, the lack of awareness about hearing aids in developing regions can also act as a barrier to the growth of the market. Overall, the hearing aids market is expected to witness steady growth in the coming years due to the increasing demand for hearing aids and the development of new and innovative products.
Planning To Conclude Your Strategy On A Decisive Note In The Hearing Aids Market
? Glance Through The "Methodology" Implied!
https://www.persistencemarketresearch.com/methodology/4414
Key Segments Covered in Hearing Aids Industry Research
Hearing Aids Market by Product:
Behind-the-Ear (BTE) Hearing Aids
Receiver-in-the-Ear (RIE) Hearing Aids
In-the-Ear (ITE) Hearing Aids
In-the-Canal (ITC) Hearing Aids
Completely-in-the Canal (CIC) Hearing Aids
Hearing Aids Market by Technology:
Conventional Hearing Aids
Digital Hearing Aids
Hearing Aids Market by End User:
Audiology Clinics
ENT Clinics
Online Stores
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About Us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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