New York, USA, September 21, 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the world market for hearing amplifiers Estimated to post revenue of $108.0 billion and grow at a CAGR of 5.9% during the forecast period 2020-2027. The extensive report provides a concise layout of current market scenarios including other aspects such as market dynamics, growth and restraining factors, challenges, and opportunities during the analysis period 2020-2027. The report also offers detailed figures of the market, which makes it easier and more beneficial for new entrants to understand the real-time scenario of the market.
Factors affecting the market size before and after the Covid-19 pandemic
According to the report, the size of the real-time market has increased significantly compared to pre-pandemic arrests. The size of the real-time market reached a turnover of 72.2 billion dollars in 2020, while their estimates were 70.7 billion dollars in the pre-pandemic scenario. The rise of the geriatric population worldwide, which is more prone to hearing disorders, coupled with the increasing exposure to extreme noise, are the main factors driving the global hearing amplifier market during the years under review. Furthermore, according to the World Health Organization (WHO), approximately 466 million people are hearing impaired, of which 34 million are children, which is projected to further increase the need for hearing amplifiers by 2027.
Factors Affecting CAGR Figures Before and After the Covid-19 Pandemic
According to the report, the global hearing amplifier market is expected to grow at a CAGR of 5.9% during the analysis period, while it was predicted to grow at a CAGR of 5.4% in the pre-pandemic scenario. 2020 to 2027. The increasing prevalence of infectious diseases, certain genetic causes, or difficulties at birth that can lead to severe hearing disorders is a prominent driving factor for market growth by 2027. Additionally, DHH (Deaf and Hard of Hearing) individuals hearing) who have high blood pressure and heartbeat irregularities compared to normally hearing people are more prone to hearing disorders, which is anticipated to further drive market growth over the forecast years.
According to the report, the global hearing amplifier market is estimated to prosper significantly in the coming years, mainly due to increasing technological advances in hearing amplifiers, such as smartphone connectivity and proprietary voice processing. In addition, potential growth, especially in developing regions, due to increasing market growth opportunities such as strategic partnerships and innovative product launches, is also anticipated to drive the development of the market during the forecast period 2020-2027.
Key market players
Some key players of the hearing amplifier market include
- SOUNDWORLD solutions
- Etymotic Research, Inc.
- focus ear
- iHEAR Medical, Inc.
These market players concentrate on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolios, mergers and acquisitions, collaborations, and business expansions.
For example, in June 2020, iHEAR Medical Inc., a leading provider of hearing aid solutions, launched its free ‘Home iHEARtest’ (FDA approved) campaign to test people’s hearing for free at home in amid the catastrophic stress of covid-19.
The report also summarizes many crucial aspects, including financial performance of key players, SWOT analysis, product portfolio, and latest strategic developments.
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