Hearing aids are the medical devices that are specially designed to be as small to be fitted in the ears of the individuals that have issues in hearing properly or clearly or are completely not able to her. These medical devices are manufactured in a way that improves the hearing ability of the individual with hearing loss problem through making the sound audible to the patient. The hearing aids are categorized as medical devices in several nations and are regulated by their respective norms and policies. The smaller audio amplifiers like PSAPs or any other plain sound reinforcing systems are not allowed to be sold as hearing aids.
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, rising geriatric population has led to focus of market players in introducing new and innovative products and availability of favorable 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 collaboration for 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