The North America Hearing Aid Market is expected to expand at an impressive growth rate during the forecast period (2016-2022), Market Research Future (MRFR) predicts in its in-depth report. A hearing aid is used to improve hearing, improving the hearing by amplifying soft sounds.
Many hearing aids are digital and are powered with a hearing aid battery. Growing aging population and accelerated number of natural and accidental hearing loss incidences are some of the reasons the North American Hearing Aid Market is booming. The strong economy and thriving healthcare sector and infrastructure also add to the market growth in a significant way. Moreover, various options in types of hearing-aids such as canal aids, in-the-ear aids, and behind-the-ear aids trigger the demand for hearing aids as well. Apart from this, increasing number of audiologists working on a large number of patients drives the market growth tremendously.
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On the contrary, stunted awareness about the benefits of hearing aids deters the patients from buying them and also affects the market growth to some level. However, researchers are constantly looking for ways to apply new strategies to design hearing aids, namely signal processing that is used to modify normal sound waves into amplified sound. These technological innovations also include computer-aided technology aimed at designing and manufacturing better hearing aids.
In other words, consistent technology-based development of the products has significantly propelled the market size in North America. For instance, integrated Bluetooth connectivity is now used in North America that helps hear sound from televisions, smartphones and other digital devices. It has a feature that involves these models connected to smartphones directly and take calls and stream music and more.
North America Hearing Aid Market – Key Players
Some of the key players in this market are:
- Cochlear Ltd
- GN Store Nord A/S
- Sebotek Hearing Systems LLC
- Sivantos Pvt. Ltd
- Starkey Hearing Technologies Inc.
- WIDEX A/S
- William Demant Holding A/S
- Zounds Hearing
North America Hearing Aid Market – Segments
North America hearing aid market has been segmented based on products which comprises of Receiver-in-canal, completely-in-canal, behind-the-ear, in-the-canal, in-the-ear, tinnitus, single-sided hearing, hearing amplifiers, invisible, pocket hearing aids, made for iPhone and hearing aid accessories. Based on end users, market is segmented into adults and pediatrics.
North America Hearing Aid Market – Detailed Regional Analysis
While considering the regional analysis of the industry, the United States is the biggest market for hearing aid in the North American region. The United States market for hearing aid is expected to grow at a motivating CAGR percent and is anticipated to earn high revenues by the end of the forecasted period. Canada is the second major market for hearing aid which is expected to grow at an optimistic CAGR.
North America Hearing Aid Market – Updates
March 2018 The leader in direct-to-consumer and OTC hearing solutions, iHEAR Medical, recently announced that it has joined forces with Atlazo Inc. to develop an advanced digital hardware platform to power iHEAR’s next generation of hearing aids and hearables. The power System on Chip (SoC) ultra-low platform will deliver analytics, connectivity, machine learning and integrated power management proficiencies allowing for unparalleled energy efficiency, cost savings and size reduction. The digital hardware platform is intended to power a new ‘Hearing of Things’ standard delivering voice commands, real-time health tracking and seamless connectivity to other smart devices, together with home appliances and mobile phones. iHEAR’s technology and IP will enlarge the hearing aid industry and lead the emerging hearables market. The company is a venture-backed firm devoted to the global need for reasonably priced and easily available hearing solutions.
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