08-Jan-2021 | Zion Market Research
As per researchers at Zion Market Research, the global Bluetooth hearing aids market is estimated to grow at an 8.3% CAGR over the forecasted period 2019–2025. The hearing impairment and related problems have endured as the second most prevailing health issues over the past years. Viral or bacterial infections, trauma, aging, genetic factors, and noise are the main reasons for hearing problems. The CDC (Centers for Disease Control and Prevention), has predicted that more than 10% of the population across Europe would be suffering from hearing problems. The occurrence of hearing impairment had been surging in emerging countries like India and China. Complete execution of the Bluetooth standard requires a higher power supply compared to that capable of being generated in a small footprint of the hearing aid’s battery. Nevertheless, producers of Bluetooth hearing aids long ago have come up with an innovative solution to access this customary wireless standard. Hearing aids with the compatible assistive listening devices—which are also called streamers—can provide the communication amid Bluetooth-enabled devices and wireless technology of hearing aids. The personalized audible experience has been one of the most important benefits of Bluetooth hearing aids, which has boosted their adoption amongst hearing impaired patients in the last few years.
Some of the prominent players in the market are Sonova Holding AG; Sivantos Pte. Ltd.; MED-EL; Cochlear; Miracle Hearing Aid Clinic; Beltone; Union Hearing Aid Centre; Persona; Siemens Healthcare; Eartone; Starkey Hearing Aids; Shenzhen Sunsky Technology; Medtechnica Orthophone; GN ReSound; GN Store Nord A/S; William Demant Holding A/S; and Widex A/S.
Major Acquirements And Product Launches By Key Players To Boost The Global Bluetooth Hearing Aids Market
The patient convenience coupled with audiologist’s approval of these devices is the main challenge in the market. Furthermore, reformulating the innovation work plan for hearing aids is the major challenge for device makers. Moreover, developing economies such as BRICS (Brazil, Russia, India, China and South Africa)—with rapid urban development and enhancing healthcare access—present high potential for development and lucrative market prospects for the device makers. Additionally, the launch of novel product formats and multi-brand tactics are expected to provide great opportunities in the upcoming few years. A few of the major strategies implemented by prominent players in the market are acquirements and product launches.
The global Bluetooth hearing aids market is bifurcated on the basis of type, application, and regional analysis. Based on the type, the market is divided into ITE (in-the-ear) hearing aids, ITC (in-the-canal) hearing aids, CIC (completely-in-the-canal) hearing aids, BTE (behind-the-ear) hearing aids, and RIE (receiver-in-the-ear) hearing aids. Based on the applications, the market is divided into clinics, hospitals, and individuals.
North America Projected To Rule The Global Bluetooth Hearing Aids Market Over Forecasted Period
Based on geographical analysis, the global Bluetooth hearing aids market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. In North America, more than 10% of the population is suffering from hearing impairment, and the proportion is surging, even amongst the youth population. Across the U.S., hearing-impaired people normally pay for hearing aids themselves, since the nation has an inadequate margin for the public hearing healthcare system. This factor significantly creates the prospect for development of Bluetooth hearing aids across North America. The North America region is predicted to dominate the global Bluetooth hearing aids market, with regard to revenue.
Browse the full “Bluetooth Hearing Aids Market - By Type (In-The-Ear Hearing Aids, In-The-Canal Hearing Aids, Completely-In-The Canal Hearing Aids, Behind-The-Ear Hearing Aids, And Receiver-In-The-Ear Hearing Aids), By Applications (Clinics, Hospitals, And Individuals), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/bluetooth-hearing-aids-market
The global Bluetooth hearing aids market is segmented as follows:
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