|Hearing Amplifiers Market To Reach USD 98.1 Million By 2026 | Reports And Data|
|By GLOBE NEWSWIRE|
|Wednesday, 09 October 2019 07:14|
New York, Oct. 09, 2019 (GLOBE NEWSWIRE)
New York, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Rise in geriatric population coupled with increased prevalence of hearing impairment, high price of hearing aids, product launches, increasing strategic developments such as partnerships and agreements, favorable research funding scenario, and technological advancements are key factors contributing to high CAGR of Hearing Amplifiers during forecast period.
According to the current analysis of Reports and Data, the global Hearing Amplifiers market was valued at USD 58.2 million in 2018 and is expected to reach USD 98.1 Million by year 2026, at a CAGR of 6.7 %. The study covers Hearing amplifiers, a wearable electronic product that amplify sounds for people who are not deaf or hard of hearing. Hearing loss can be result of hereditary factor or some disease, accidents, adverse effects of medicines being used or long time exposure to loud noises. Hearing amplifiers are often misconceived as hearing aids which are approved and regulated by FDA.
Hearing Amplifiers are also called as Personal Sound Amplification Devices (PSAP). PSAPs do not require a medical prescription and professional fitting. Hearing amplifiers or PSAPs are readily available out of the box. PSAPs come in various in price ranges, performance qualities, weight, and software algorithms and consumers may chose as per their application. Hearing amplifiers may come with directional microphones and customizable equalization of the audio signal that allows to clear up ambient or extraneous noise. However, hearing amplifiers or PSAPs are not medically advised substitutes for hearing aids and have been shown in many cases to deteriorate the patient’s hearing abilities due to amplified noises blasted into the patient’s ear drums. This may hamper future market growth.
Rise in geriatric population coupled with increased prevalence of hearing impairment, high price of hearing aids, product launches, increasing strategic developments such as partnerships and agreements, favorable research funding scenario, and technological advancements are some of the key factors propelling market growth in the industry.
Advanced technology such as wireless hearing amplifiers can be directly connected to the smartphone consumer using which enables consumer to directly receive the call or stream music. Hearing aids do experience cases in which consumers experienced his own voice and interruption of the voice which can be only avoided or solved if the consumer moves near to the speaker which is not feasible every time. These factors might shift the consumers from hearing aids to hearing amplifiers. However, associated side effects, lack of regulation, and medical discouragement to use hearing amplifiers are the major hindrance for market growth during 2019-2026.
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Further key findings from the report suggest
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/hearing-amplifiers-market
Segments covered in the report:
For the purpose of this report, Reports and Data has segmented the Hearing Amplifiers market on the basis of product, distribution channel and region:
Product type Outlook (Revenue, USD Million; 2016-2026)
Distribution Channel Outlook (Revenue, USD Million; 2016-2026)
Regional Outlook (Revenue, USD Million; 2016-2026)
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