A recent report published by Infinium Global Research on bluetooth hearing aids market provides an in-depth analysis of segments and sub-segments in the global as well as regional bluetooth hearing aids market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bluetooth hearing aids market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global bluetooth hearing aids market. According to the report, the global bluetooth hearing aids market is projected to grow at a CAGR of 8.2% over the forecast period of 2019-2025.
Bluetooth hearing aids are becoming the game-changer with the endowment of extremely sophisticated features. Currently, they are also incorporated with capabilities to remotely change programs or volume from the streamer. Personalized listening experience has been one of the foremost benefits of bluetooth hearing aids, which has driven their adoption among hearing lessened patients over the past few years. The main aim of hearing aids has forever been making developments in speech understanding. Numerous hearing aid vendors have commenced integrating bluetooth technology in their progressive hearing aid’s microchips, so as to make a speech from devices, for instance, televisions and phones more accessible to the hearing impaired. Recently developed built-in microphones in advanced bluetooth hearing aids allow automatic voice pickup, assisting people to make two-way conversations via their hearing aids.
The increasing incidence rate of hearing disorders among the geriatric population has resulted in rising sales of effective hearing devices. Bluetooth hearing aids allow manifold devices to run in a single streamer, increasing the necessity for a personalized experience with better speech understanding, remote control of hearing aids and standard protocols of hospitals are some of the major key drivers of bluetooth hearing aids market. Nevertheless, the low battery life of hearing aids coupled with uncomfortable buzzing and amplification is the most substantial limitation of the bluetooth hearing aids market. On the other hand, the global bluetooth hearing aids market is gaining popularity due to the rising technological innovations and augmented demand for the aesthetic designs of the devices.
In addition, the current concern over the spread of novel coronavirus is also anticipated to have a negative impact on the bluetooth hearing aids market for the short term. The spread of COVID-19 outbreak cases is likely to affect the medical product supply chain resulting in the scarcity of critical medical devices. Owing to the current pandemic, the medical device the industry has been under tremendous pressure to deliver new products. With COVID-19 epidemic infections swelling across the globe, the apprehension regarding a scarcity of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide prime care to the infected also widens.
Among the geographies, North America region is expected to hold the largest share in the global bluetooth hearing aids market owing to the presence of several leading hearing device manufacturers. Further, factors such as the increasing number of hearing loss incidences in the US and Canada is expected to drive market growth in the North America region. However, the Asia Pacific region is expected to witness high growth during the forecast period owing to the high noise pollution levels in Asian countries such as India, China, and Japan. Other factors pouring the market in Asia Pacific region is increasing disposable income and healthcare expenditure of the general population, along with government initiatives.
The report on the global bluetooth hearing aids market covers segments such as product type, and application. On the basis of product type, the sub-markets include in-the-ear (ITE), in-the-canal (ITC), behind-the-ear (BTE), receiver-in-the-car (RIE), and completely-in-the-canal (CIC). On the basis of application, the sub-markets include clinic, hospitals, and individuals.
The report provides profiles of the companies in the market such as Sonova Holding AG, Eartone, Siemens Healthineers AG, Sivantos Pte. Ltd., Shenzhen Sunsky Technology Limited, Persona Medical, Demant A/S, Starkey Hearing Technologies, Beltone Union Hearing Aid Centre, Widex A/S, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of bluetooth hearing aids market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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