GVR Report cover Hearing Amplifiers Market Size, Share & Trends Report

Hearing Amplifiers Market Size, Share & Trends Analysis Report By Product Type (Behind-the-ear, In-the-ear), By Sales Channel (Online Retail Sales, Offline Retail Sales), By Region, And Segment Forecasts, 2022 - 2030

  • Report ID: 978-1-68038-432-1
  • Number of Pages: 80
  • Format: Electronic (PDF)
  • Historical Range: 2016 - 2020
  • Industry: Healthcare

Report Overview

The global hearing amplifiers market size was valued at USD 80.5 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030. Key factors driving the market include increased prevalence of mild deafness in young and adult population. Increasing R&D activities undertaken by the market players to develop advanced products are to support market growth during the forecast period.Increasing demand for Personal sound amplification products (PSAP) for geriatric population is considered to be a key driver. Hearing loss is a major problem among the geriatric population and it is estimated that one in every three people aged 65 to 74 suffer from some degree of deafness in the U.S., half the population above the age of 75 suffer from hearing loss, which can be an opportunity for the market.

 U.S. hearing amplifiers market size, by product type, 2020 - 2030 (USD Million)

Hearing loss is a serious issue that can cause other severe issues such as dementia, walking problems, and falls. The condition affects inner ear that is responsible for controlling balance of body, which increases the risk of falls and social isolation due to struggling to hear, which may further cause depression and decline in the overall mental health. Large number of adult population suffering from hearing loss, for instance, 15% of the total American adults, i.e., 37.5 million above the age of 18 years suffer from some kind of deafness. The increasing prevalence among the younger population is anticipated to be another major driver for the market. The increasing R&D initiatives undertaken by key players is anticipated to help growth.

The players are investing in new technologies to develop advanced amplifiers. Olive Union which is a hearing devices company, launched an AI-based hearing amplifier; the amplifier uses AI to adjust the sound according to the need of the patient and filter out unwanted and background noise. Such new product innovations are anticipated to significantly drive the market for hearing amplifier. COVID-19 pandemic had a negative impact on the hearing amplifiers market due to restrictions in supply chain. Offline retail stores were shut during the nationwide lockdown period, which triggered low demand for these devices. On the other hand, the pandemic created barriers for the patients with deafness due to the use of masks; this affected those who relied on lip reading.

Product Type Insights

By product type, the behind-the-ear segment dominated the market for hearing amplifier and held the highest revenue share of 62.1% in 2021 as it is the most commonly used amplifier. Factors such as high efficiency, better connectivity and longer battery life are attributed to increasing demand for this product type during the study period. Due to the large size of the behind-the-ear amplifiers additional features such as directional microphones and Bluetooth can be added, thereby, contributing to market growth.

The in-the-ear segment is anticipated to grow at the fastest rate during the forecast period owing to the rising preference of this type of product because of its aesthetic designs that make it easy to handle the device. Bluetooth and directional microphones are some of the features that help to adjust the sound according to the environment. However, factor such as risk of infection is attributed to hamper market growth.

Sales Channel Insights

The offline segment dominated the market for hearing amplifier and held the largest revenue share of 69.8% in 2021. Factors such as preference of patients to buy amplifiers from the retail stores is attributed to be a key factor for the growth of the segment. The preference of key players to launch their products through offline retail stores is also attributed to support market growth during the forecast period.

 Global hearing amplifiers market share, by Sales channel, 2021 (%)

The online sales segment is anticipated to witness fastest growth during the forecast period owing to the large pool of younger people diagnosed with deafness and their preference to buy amplifiers through online channel. The key players are actively entering this segment by listing their products on the e-commerce platforms, which is attributed to contribute to the market growth during the forecast period.

Regional Insights

Europe dominated the market for hearing amplifier and held the largest revenue share of 41.0% in 2021. Rapid increase in the adoption of PSAP’s due to the increased prevalence of deafness and their use as an alternative to the expensive hearing aids is attributed to drive the market. According to the World Health Organization, in 2021 it is estimated that 196 million people in Europe have some kind of hearing disorder and 6.2% or 57.3 million patients of these population have moderate or high grade of hearing loss.

Asia Pacific is anticipated to witness fastest growth during the forecast period. Factors such as increasing prevalence of hearing disorders and the introduction of advanced products by the key players is attributed to support market growth. According to an article by hearing-it, in 2021, about 401 million people in the South-East Asia region suffered from some degree of hearing loss and this number is estimated to reach to 666 million by 2050. This factor is anticipated to significantly increase the demand for hearing amplifiers in overall Asia Pacific.

Key Companies & Market Share Insights

High competition in the market for hearing amplifier owing to innovate product offerings by key players and entry of new players has led to high market growth. Various regulatory, quality, and pricing norms are also impacting cross-border trade. Some of the prominent players in the hearing amplifiers market include:

  • Beurer GmbH

  • Etymotic Research, Inc.

  • Innerscope Hearing Technologies, Inc.

  • Sound World Solutions

  • Huizhou Jinghao Electronics Co. Ltd.

  • Foshan Vohom Technology Co.,Ltd.

  • Medca Hearing

Hearing Amplifiers Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 98.1 million

Revenue forecast in 2030

USD 152.1 million

Growth rate

CAGR of 5.6% from 2022 to 2030

Base year for estimation

2021

Historical data

2016 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million and CAGR from 2021 to 2030

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, sales channel, region

Regional scope

North America; Europe; Asia Pacific, Latin America, MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Russia; China; Japan; India; Australia; South Korea; Singapore; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Beurer GmbH; Etymotic Research, Inc.; Innerscope Hearing Technologies, Inc.; Sound World Solutions; Huizhou Jinghao Electronics Co. Ltd.; Foshan Vohom Technology Co.,Ltd.; Medca Hearing

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2030. For the purpose of this study, Grand View Research has segmented the global hearing amplifiers market report on the basis of product, sales channel, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2030)

    • Behind-the-Ear

    • In-the-Ear

  • Sales Channel Outlook (Revenue, USD Million, 2016 - 2030)

    • Online Retail Sales

    • Offline Retail Sales

  • Regional Outlook (Revenue, USD Million, 2016 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Spain

      • Italy

      • Russia

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Australia

      • Singapore

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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