The Asia Pacific Hearing Amplifiers Market would witness market growth of 4.8% CAGR during the forecast period (2021-2027).
Hearing amplifiers are electrical devices supplied directly to consumers to augment the loudness of incoming sound in a variety of recreational settings. The rise in the geriatric population, the link between increasing age and a higher prevalence of hearing impairments, and increased investments for research and development are the primary drivers of the hearing amplifiers industry.
Moreover, one of the key trends of the market is the rise in a number of innovative ways to address hearing problems. As a result, as the number of people with hearing impairments rises, so does the demand for hearing amplifiers. In addition, the use of various customizable hearing amplifier devices as per consumer needs, as well as developments in the medical field and reductions in the cost of treatments, will drive demand for these devices in the market.
According to the WHO, China has 27.8 million persons with hearing loss, accounting for 33.5 percent of the total impaired population [5]. Hearing loss has become a major public health concern in China, which has the world's largest population and new family planning programs. Hence, these factors are estimated to accelerate the growth of the regional Hearing Amplifiers Market during the forecasting period.
The China market dominated the Asia Pacific Hearing Amplifiers Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9.0 million by 2027. The Japan market would experience a CAGR of 4.2% during (2021 - 2027). Additionally, The India market is expected to witness a CAGR of 5.4% during (2021 - 2027).
Based on Product, the market is segmented into Behind-the-ear, and In-the-ear. Based on Type, the market is segmented into Analog and Digital. Based on Distribution Channel, the market is segmented into Hospital Pharmacies, Online Pharmacies, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Hearing Amplifiers Market is Projected to reach USD 116.9 Million by 2027, at a CAGR of 4.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Beurer GmbH, Lucid Audio, LLC (Hearing Lab Technology, LLC), InnerScope Hearing Technologies, Inc., Intricon Corporation, Otofonix Hearing Solutions, MDHearingAid, Eargo, Inc., Starkey laboratories, Inc., Sound World Solutions, Inc., and Cochlear Ltd.
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