North America Hearing Aid Market Overview
The North American hearing aid market is expected to reach USD 13,872.4 Million by 2030 at 8.6% CAGR during the forecast period 2022-2030, 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.
On the contrary, stunted awareness about the benefits of hearing aids deters the patients from buying them and also affects the North America Hearing Aid 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.
The number of cases related to hearing difficulties have risen in the recent years. Market reports linked to the healthcare sector made available by Market Research Future along with published reports on other sectors have been recently published along with a report on this market. The industry is expected to develop with an encouraging CAGR percent while earning high revenue levels.
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North America Hearing Aid Market Segmentation
The North America hearing aid market is segmented on the basis of products and end-users.
The products segment comprises 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. The behind-the-ear hearing aids segment experiences immense growth on account of high comfort levels, better connectivity, and high efficiency of the product. As the name suggests, invisible hearing aids are popular among a large number of patients as they are unseen, are compact and are apt for mild to moderately severe hearing loss. Moreover, presence of established brands also influences the market size for invisible hearing aids. Some of the brands are Siemens, Widex Menu IIC and Starkey Soundlens Synergy and many others.
The end users in the global hearing aids market are adults and pediatrics. A large percentage of adult population around the world is affected by hearing impairment, particularly in less developed economies. The inability to communicate due to this affliction leads to feeling of social exclusion, loneliness, and frustration, factors that are indirectly leading to the market growth.
North America Hearing Aid Market Regional Analysis
In the region of North America, the United States has been observed to possess the largest market share. Increasing geriatric population and frequent conferences and symposiums to create awareness on market products are fueling the market growth in the region. Canada holds the second-largest market share in the region attributed to the latest technologies in hearing aids and constant research and development activities by market players.
Competitive Landscape
The key players competing within the North America hearing aids market are Starkey Hearing Technologies Inc., WIDEX A/S, William Demant Holding A/S, Cochlear Ltd, GN Store Nord A/S, Med-El, Sebotek Hearing Systems LLC, Sivantos Pvt. Ltd, Sonova, Zounds Hearing and others.\
Gillies's group has partnered with Regina Public Schools to start a program for preschool-aged children in Regina and Saskatoon (Canada) who are deaf and hard of hearing. The goal of the program is to improve the quality of early learning for kids aged three and four, and also their siblings, cousins, and friends.
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