The global smart hearing aids market is segmented by product type into hearing aids. In this segment, canal hearing aids segment is projected to grow at remarkable pace over the forecast period. The growth of canal hearing aids segment is attributed to increasing number of research and development initiatives towards the improvement of device performance and rising demand for esthetically appealing hearing aids. Apart from this, due to the high efficiency of the product with better connectivity and high comfort levels associated with behind the ear hearing aids are expected to drive the growth of behind the ear hearing aids segment over the forecast period.
Global Smart Hearing Aids Market is expected to register a CAGR of 5.8% over the forecast period. Moreover, the global smart hearing aids market is expected to expand on the basis of advancement in technology coupled with many high end features such as automated connectivity with smartphones and wireless platforms. Increase in the prevalence of hearing loss among the matured and elderly population is a key factor which is expected to augment the growth of global smart hearing aids market in upcoming years.
The Asia Pacific smart hearing aids market is expected to grow at the highest CAGR during the forecast period, due to the rising disposable income of patients, high unmet medical needs and constantly improving healthcare infrastructure. Increasing disposable income of the consumers and rising affordability are also expected to bolster the growth of smart hearing aids market over the forecast period.
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Advancement in Technology
Increase in the cases regarding hearing loss has led to the enhancement of many high end features such as automated connectivity with the smartphones and with various wireless platforms. The advancement has various features such as balance sounds, help locate mislaid hearing aids, and discreet volume controls. This notable advancement in smart hearing aids is anticipated to garner the growth of the smart hearing aids market over the forecast period.
Smart Wearable Devices
Factors such as, rising popularity of fashionable smart wearable devices that are able to fulfill both fashion and function requirements is likely to foster the growth of smart hearing aids market over the forecast period. Resound ENZO2 is considered to be the tiniest and most powerful hearing aid in the market. It allows people to access sound easily, regardless of where the sound is originating from. It intuitively enables to personalize the sound experience by directly connecting to smartphones. It has a unique feature known as “Spatial Sense” which enables users to focus on whatever sound they want to listen to or concentrate on. However, high cost and presence of alternatives are some of the key factors which are expected to limit the growth of global smart hearing aids market in upcoming years.
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The report titled “Smart Hearing Aids Market: Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of the global smart hearing aids market in terms of market segmentation by product type, by distribution channel and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global smart hearing aids market which includes company profiling of Resound ENZO, Clariti Hearing Pte. Ltd., Siemens Ltd., Xiamen Retone Hearing Technology Co. Ltd., Starkey Hearing Technologies, Sonova, William Demant, Widex, Sivantos Pte. Ltd., Amplifon. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global smart hearing aids market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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