Personal Amplification Devices Market - Key Growth Factors and Forecast 2017 - 2025

The global personal amplification devices market is expected to register a significant CAGR over a forecast period. The increasing prevalence of hearing impairment and the increasing cost of hearing aids leads to the acceptance of personal amplification devices and anticipated to drive the growth of the global personal amplification devices market over a forecast period. Over the counter (OTC) availability of personal amplification devices due to exemption from FDA rules and regulations is also expected to drive the growth of the global personal amplification devices. The increasing research and development activities and innovation for the new product development in personal amplification devices are also anticipated to boost the growth of the global personal amplification devices market.

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Personal amplification devices are also known as personal sound amplification products. Personal amplification device is a wearable electronic product which is intended to amplify the sound for people who are not hearing impaired and needs to amplify sound to better enjoy recreational activities. Personal amplification devices are different than hearing aids and available as over the counter (OTC) product due to non-requirement of medical prescription and professional fitting. Personal amplification device is usually very small and fit into the ear and on the ear. Personal amplification device is mostly used as an off-shelf amplifier for the people who need a little boost in volume in certain conditions such as hearing distance conversation and performances, during business meetings and family gathering. The personal amplification devices also come with the features such as wireless buds, bluetooth, and compatibility facility to the smartphones through specific applications. Personal amplification devices are available in different styles and designs and gaining popularity in the youth as an alternative for hearing aids, which has become the growth opportunity for the market over a long run.

However, the personal amplification devices are not covered under insurance or medicare due to non-approval by the U.S. Food and Drug Administration (FDA), which may hamper the demand for the devices and restrain the growth of the global personal amplification devices market over a forecast period. Conflicts among the otolaryngologist and audiologist about the advantage of the personal amplification devices over the hearing aids, may also affect the demand for the personalized amplification devices and restrain the growth of the market.

On the basis of regional presence, the global personal amplification devices market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. The North America is dominating and contributed the leading shares to the personal amplification devices market and anticipated to register a significant growth over a forecast period due to the technological advancement, and easy availability of the devices. The Europe is also expected to contribute the moderate revenue and market share and register a healthy growth rate in the global personal amplification devices market followed by North America. The APEJ has become the lucrative market for personal amplification devices and anticipated to register significant opportunities over the forecast period due to the increasing demand for a cheap alternative to the hearing aids in the region. The Latin America and MEA are at a nascent stage to the global personal amplification devices market and expected to show a moderate growth over a forecast period.

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Some of the major market players in personal amplification devices market globally include Foshan Vohom Technology Co. Ltd., Austar Hearing Science and Technology (Xiamen) Co., Ltd., Sound world Solution, SoundHawk, Resound, Huizhou Jinghao Electronics Co. Ltd., Shenzhen LA Lighting Company Limited, Ethymatic, Able Planet and Ziphearing. The personal amplification devices market is currently witnessing a number of strategic collaboration and partnership activities by manufacturers and end users.

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