Hearing Aids Market to Rise at 7.2% CAGR till 2026; Increasing Prevalence of Hearing Disorders Will Aid Growth, says Fortune Business Insights™

Pune, May 15, 2020 (GLOBE NEWSWIRE) — The global hearing aids market size is projected to reach USD 14.45 billion by the end of 2026. The high prevalence of hearing disorders across the world will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Hearing Aids Market Size, Share & Industry Analysis, By Product (Hearing Devices, Hearing Implants), By Patient Type (Adult, Pediatric), By Distribution Channel (OTC (Over the Counter), Medical Channel/ Hospital Pharmacies, Private Practice/ Retail Pharmacies) and Regional Forecast, 2019-2026,” the market was worth USD 8.39 billion in 2018 and will exhibit a CAGR of 7.2% during the forecast period, 2019-2026.According to a study by the World Health Organization, around 466 million people across the world suffered from hearing disorders ion the year 2019. The increasing emphasis on technological intervention will have a huge impact on the growth of the overall market in the coming years. Additionally, the presence of several large scale companies will aid market growth.An Overview of the Impact of COVID-19 on this Market:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.To get the short-term and long-term impact of COVID-19 on this Market.Please visit: https://www.fortunebusinessinsights.com/industry-reports/hearing-aids-market-101573
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches by major companies across the world will have a huge impact on the growth of the market. Technological intervention has yielded a few exceptional products in recent years. In August 2018, Starkey announced the launch of a new hearing aid equipped with artificial intelligence.The company introduced the product in the UK market. The company claims that the product enables superior audio quality with lesser noise, mainly due to the use of concepts derived from artificial intelligence. Starkey’s latest product will not just benefit the company but will also have a positive impact on the growth of the overall market in the coming years.North America Accounts for a Dominant Share; High Prevalence of Hearing Disorders will Aid Growth     The report analyzes the ongoing market trends across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these regions, the market in North America is projected to emerge as the dominant region in the coming years. The increasing prevalence of hearing disorders in the United States will aid the growth of the regional market.List of key Companies Covered in the Hearing Aids Market Research Report are:
SonovaDemant A/SGN Store Nord A/SStarkeySivantos Pte. Ltd.Widex A/SMED-ELCochlear Ltd.
Other Prominent PlayersIndustry Development:
April 2018: Widex announced the launch of the world’s first machine learning hearing aid called the Widex Evoke. The company claims that the product is capable of adjusting the sound intensity with the help of smartphone application resulting in ease of usage.IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsEpidemics of Hearing Loss for Key CountriesRecent Industry Developments- Partnerships, Mergers, And AcquisitionsTechnological advancements in Hearing Aids MarketNew Product Launches by Key PlayersGlobal Hearing Aids Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By ProductTOC Continued….!!!

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