New York, USA, Sept. 21, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global hearing amplifiers market is estimated to register a revenue of $108.0 billion and grow at 5.9% CAGR during the 2020-2027 forecast period. The extensive report provides a concise layout of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the 2020-2027 analysis timeframe. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post Covid-19 Pandemic
According to the report, the real-time market size has significantly increased as compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $72.2 billion in 2020, while its estimations were $70.7 billion in the pre-pandemic scenario. Increasing geriatric population across the globe which is more prone to hearing disorders along with the growing exposure to extreme noise are the major factors to drive the global hearing amplifiers market during the analysis years. Moreover, as per the World Health Organization (WHO), approximately 466 million people have hearing issues, out of which 34 million are children, which is anticipated to further boost the requirement for hearing amplifiers by 2027.
Access to the Comprehensive PDF Sample of the Hearing Amplifiers Market
Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic
As per the report, the global hearing amplifiers market is expected to grow at 5.9% CAGR during the analysis timeframe, while it was predicted to grow at 5.4% CAGR in the pre-pandemic scenario from 2020-2027. The growing prevalence of infectious diseases, certain genetic causes, or difficulties at birth that can lead to severe hearing disorders is a prominent driving factor for the market growth by 2027. Moreover, DHH (deaf and hard hearing) people who have high blood-pressure and heartbeat irregularities when compared to normally hearing people are more prone to hearing disorders which is projected to further propel the market growth during the forecast years.
Post Pandemic Insights
As per the report, the global hearing amplifiers market is estimated to flourish significantly in the upcoming years mainly due to growing technological advancements in hearing amplifiers like smartphone connectivity and own voice processing. In addition, potential growth especially in the developing regions due to increasing market growth opportunities like strategic partnerships and innovative product launches is also anticipated to uplift the market development during the 2020-2027 forecast period.
Key Market Players
Some key hearing amplifiers market players include
- Britzgo.com
- Otofonix
- IntriCon
- SOUNDWORLD Solutions
- Etymotic Research, Inc.
- Amplifon
- Beurer
- FocusEar
- MDHearingAid
- iHEAR Medical, Inc.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in June 2020, iHEAR Medical Inc., a leading provider of hearing aid solutions, launched its free ‘Home iHEARtest campaign’ (approved by FDA) to test people’s hearing ability for free at home amid the covid-19 catastrophic stress.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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