Hearing Amplifiers Market to be Driven by Increase in Number of Hearing Impairment Cases and Rising Costs of Hearing Aids
Hearing aid is useful in improving the hearing and speech of patients. An otolaryngologist investigates the cause of the hearing loss. An audiologist is a hearing health professional who identifies and measures hearing loss and will perform a hearing test to assess the type and degree of hearing loss.
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Increase in number of hearing impairment cases coupled with rising costs of hearing aids are expected to drive the growth of the global hearing amplifiers market during the forecast period. Majority of the consumers use hearing amplifiers or personal sound amplification products (PSAPs) as they are considered cheaper alternatives of hearing aids. Hearing amplifiers or PSAPs, are designed to amplify sounds in any recreational environment and are exempt from the Food and Drug Administration (FDA). Hearing amplifiers are sold directly to consumers as electronic devices without the requirement of a physician prescription.
According to National Institute on Deafness and other Communication Disorders (NIDCD), approximately 324,200 cochlear implants have been implanted worldwide. About 15 percent of Americans (26 million people) between the ages of 20 and 69 have high frequency hearing loss due to exposure to noise at work or during leisure activities. Major driving factors for the growth of the global hearing amplifiers such as an increase in the number of prevalence of hearing impairment patients in old and young population, increasing investment in research and development in ENT field among others.
Hearing amplifiers market is segmented into five major regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. In 2015, North America lead the global market of hearing amplifiers followed by the Europe in terms of revenue. According to statistics compiled by the National Institute on Deafness and Other Communication Disorders (NIDCD), 37.5 million adults aged 18 and older in America report some form of hearing loss.
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According to the National Institute on Deafness and Other Communication Disorders (NIDCD), 28.8 million U.S. adults could benefit from using hearing aids and more than 90 percent of deaf children are born to parents suffering from some kind of hearing disorder. Globally, the hearing amplifiers market is expected to witness a healthy CAGR in terms of revenue during the forecast period.
Latin America, Middle East & Africa and Asia Pacific regions are the emerging markets in the global hearing amplifiers market. Increasing awareness among the various distribution channels as well as consumers in these regions is anticipated to propel global market growth of hearing aids and amplifiers during the forecast period.
The key players in the global market develop hearing amplifiers in analog and digital forms. Some of the top companies in the global hearing amplifiers market are Sound Hawk, Resound, Foshan Vohom Technology Co. Ltd., Sound world solution, Shenzhen LA Lighting Company Limited, Austar Hearing Science and Technology (Xiamen) Co., Ltd., Huizhou Jinghao Electronics Co. Ltd., Ziphearing among others.
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