LONDON–(BUSINESS WIRE)–#HearingAid–The global hearing aid market 2018-2022 is expected to post a CAGR close to 6% during the period 2018-2022, according to the latest market research report by Technavio.
High prevalence of bilateral hearing loss is leading to the growing adoption of binaural hearing aids. These aids offer to hear from all directions and are more efficient than single hearing aids. They provide a wider hearing range, improved sound identification, and a better understanding of speech by selective listening. Binaural hearing aids can also be used as an effective solution for Tinnitus, and residual hearing in non-implant ear resulting from cochlear implants. The growth in the application of binaural hearing aids will thus fuel the hearing aid market growth during the forecast period.
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As per Technavio, the growing adoption of hearing aids with rechargeable batteries, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Hearing Aid Market: Growing Adoption of Hearing Aids with Rechargeable Batteries
Currently, several hearing aids vendors are focusing on offering advanced hearing aid devices with lithium-ion batteries as they offer enhanced power than traditional rechargeable batteries. Many companies are also developing silver-zinc rechargeable batteries that are believed to be safe for the environment as well as the user. The hearing aid market forecast report predicts that fueled by these factors, the market will showcase a positive outlook during the forecast period.
“Apart from the growing adoption of hearing aids with rechargeable batteries, several vendors are seen focusing on the continuous development of new products through rigorous investments in R&D to maintain their position in the market,” says a senior analyst at Technavio.
Global Hearing Aid Market: Segmentation Analysis
This market research report segments the global hearing aid market by product (devices and implants) and patients (adult and pediatric) and geographical regions (Americas, APAC, and EMEA).
The EMEA region led the market in 2017, followed by the Americas and APAC, respectively. During the forecast period, the EMEA region is expected to maintain its dominance over the global market and register the highest incremental growth due to the growing aging population and the corresponding high prevalence of hearing the loss in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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