The hearing amplifiers market is estimated to secure a valuation of US$ 6.3 Billion in 2023 and is estimated to rise to US$ 10.4 Billion by 2033. The market is anticipated to grow at a CAGR of 5.2% during the forecast period. The factors accelerating the demand for hearing amplifiers are as follows-
Increased prevalence of hearing loss among the population
Technological advances in hearing aids
Increased adoption of hearing aids
Improved healthcare infrastructure
Increased healthcare spending globally
Growing medical tourism in developing countries
Increased research & development activities
Increased geriatric population
North America dominates the hearing amplifier market during the forecast period
The increasing prevalence of hearing impairment disorder and the growing cases of hearing loss in the geriatric population is expected to boost the demand for hearing amplifiers. The growth of the global hearing amplifier market is mainly driven by increasing rapid technological advancement in the hearing amplifier. As advancements in technology have led to the development of more effective and efficient amplifiers.
Increasing awareness of hearing loss and increased benefits of amplification led to more people seeking out hearing amplifiers. This increased awareness led to increased market growth
The rising urbanization, growing disposable income and increased spending power, and increased demand for hearing accessories among consumers are likely to drive the growth of the market during the forecast period.
North America is expected to account for the highest share of the hearing amplifier market owing to the increasing cases of deafness and hearing loss in the region.
Europe is projected to be the dominant regional market for hearing amplifiers throughout the forecast period. The market in the region is driven by the increasing prevalence of hearing loss and growing government support, and increased research activities to develop advanced hearing aids.
Asia Pacific is expected to be the fastest-growing region in the hearing amplifier market. Increased research & development activities and technological advances in healthcare in emerging economies are driving market growth in the Asia Pacific.
The leading player operating hearing amplifier iHEAR Medical, Inc, Soundhawk, FocusEar, resound, Snehzhen LA Lightening Company Limited, Foshan Vohom Technology Co Ltd, MDHearing Aid, Beurer, Etymotic Research, IntriCon Corporation, Britzgo, Auster Hearing Science and Technology (Xiamen) Co. Ltd, Sound World Solution, Huizhou Jinghao Electronics Co. Ltd, Otofonix, Banglijian, Amplifon, and Ziphering among others.
The market players operating in the hearing amplifier market are focusing on expanding their product offerings and geographic presence to remain competitive in the market. Also, the market players are heavily investing in research & development activities to increase their product portfolio.
For instance, iHEAR Medical launched iHEARmax in 2021- which is the behind–the–ear device that offers advanced sound processing technology and noise reduction, and feedback cancelation. This device can be customized through the app and it’s rechargeable.
The hearing amplifier market is expected to grow in coming years owing to the factors such as an increase in the prevalence of ENT disorders, advancement in technologies, and growing demand for hearing aid products. The start-ups in the hearing amplifier market are using new technologies like AI, big data, and other tools and coming up with new technically advanced hearing amplifiers
For instance, founded in 2000- Audible is the developer of AI-based hearing aids. The company has developed smart hearing aids which contain sensors to track activity and transfer data to smartphones. these hearing aids are small and can be worn in the canal.
Data Point
Key statistics
Expected Market value in 2023
US$ 6.3 Billion
Projected Market Value in 2033
US$ 10.4 Billion
Growth Rate (2023 to 2033)
CAGR of 5.2%
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Hearing Amplifiers Market Overview
According to the latest research by Future Market Insights, the Hearing amplifiers market is set to witness steady growth during 2021-2031. The rising prevalence of hearing impairment disorder, coupled with the growing geriatric population prone to hearing loss is increasing the demand for hearing amplifiers.
What Is Driving The Demand For The Hearing Amplifiers Market?
To meet the end-users demand for advanced, safe and cost-effective alternative to hearing aids devices continues to drive demand for hearing amplifiers in the market. Similarly, the increasing cost of hearing aids is creating huge opportunities for hearing amplifiers manufacturer to develop an advanced, cost-effective solution to solve the unmet demand of consumers.
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Growing Geriatric Population Is Likely To Accelerate The Demand for Hearing Amplifiers.
The growing geriatric population is a significant driving factor for the growth of the hearing amplifiers’ market. The geriatric population are more prone to hearing loss when compared with children. As per the world health organization (WHO), currently, about 466 million people have hearing problems across the globe and the number is projected to reach 900 million by 2050.
Among these, only 34 million are children. This number indicates growing geriatric population creates huge opportunities in the hearing amplifiers market.
The USA and Canada Hearing Amplifiers Market Outlook
The USA is one of the largest markets for hearing amplifiers globally. The U.S. Hearing amplifiers market is set to tread on the historic pattern of bust and boom during the assessment period 2021 to 2031.
Favorable healthcare policies, coupled with high per capita healthcare spending, has created a conducive environment for the adoption of hearing amplifier devices in the USA presence of leading players in the region is also expected to boost the market growth. Most of the key players are focusing on strategic acquisitions to strengthen their product portfolio.
For instance, in 2021, Amplifon S.p.A. acquired PJC Hearing, the hearing care business of PJC Investments LLC, which is the second-largest Miracle-Ear franchisee in the United States, which covers the major market in hearing care worldwide.
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Europe Demand Outlook for Hearing Amplifiers Market
The rising prevalence of deafness, increasing awareness and the introduction of technologically advanced products are expected to contribute to the market growth of hearing amplifiers in Europe.
Furthermore, favorable reimbursement policies accepted by each region of Europe is driving the growth of the market. Anteunis (1999) estimated that up to 52 million Europeans (20% of adults) and 36% of the older population suffer from some level of hearing handicap.
According to the British MRC Institute of Hearing Research study, around 900 million people across the globe will suffer from hearing loss by 2025. Among this population, more than 90 million patients may be from Europe.
Who are the Key Manufacturers and Suppliers of Hearing amplifiers?
Some of the leading manufacturers and suppliers of hearing amplifiers include
iHEAR Medical, Inc.
Soundhawk
FocusEar
Resound
Shenzhen LA Lighting Company Limited
Foshan Vohom Technology Co. Ltd.
MDHearingAid
Beurer
Etymotic Research
IntriCon Corporation
Britzgo
Austar Hearing Science and Technology (Xiamen) Co., Ltd.
Sound World Solutions
Huizhou Jinghao Electronics Co. Ltd.
Otofonix
Banglijian
Amplifon
Ziphearing
Others
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
