Hearing aids are devices which amplify sound and assist individuals suffering from hearing impairment. Few of the constituents of these devices include a microphone, for picking up sound, an amplifying circuit for relaying the sound louder and a miniature speaker which delivers the amplified sound to the ear, and finally, a battery to power the electronic components. Market Industry Reports (MIR) has published a new report titled “Hearing Aids Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global hearing aids market is estimated to be over US$ 6.5 Bn in 2017. It is anticipated to grow at a CAGR of 6.6% from 2019 to 2030.
Increasing incidences and prevalence of hearing loss, the rising geriatric population has led to focus of market players in introducing new and innovative products and availability of favourable government regulations are some of the growth factors in the hearing aids market. Moreover, various educational and research institutes, organizations and societies are working on treatments of hearing losses to make the entire treatment procedure affordable. For instance, China Southeast University Institute of Life Sciences announced a collaboration for a joint research project with Boehringer Ingelheim, a leading pharmaceutical company.
Major Key Players of the Hearing Aids Market are:Sonova, William Demant Holding A/S, GN Store Nord A/S, Cochlear Ltd., Sivantos Pte. Ltd., Starkey, WIDEX A/S, SeboTek Hearing Systems, Audina Hearing Instruments, Inc. and Horentek other prominent players.
No comments:
Post a Comment