Hearing Aids Market Value Share, Supply Demand, Share and Value Chain 2016-2026

A hearing aid can be defined as sound-amplifying devices designed to aid people who have a hearing impairment. Hearing aids treat hearing loss by helping person hear the sounds that are missing out on by fitted an audiologist at active audiology, person will get a device that is measured in ear and set up according to a prescription to match their hearing needs.

Hearing aids are much more than just an amplifier. They have a computer chip with artificial intelligence. This chip gives person the details of sounds whilst reducing background noise to give them the best sound experience possible.

Hearing loss can be caused by many different causes, some of which can be successfully treated with medicine or surgery, depending on the disease process. There are three types of Hearing loss: Conductive hearing loss, Sensorineural hearing loss, mixed hearing loss.

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According to the WHO's estimates, there will be approximately 1.2 billion people in the world over the age of 60 by 2026. This marks a shift in population demographics, from a demographic majority of young people globally to a more balanced proportion of young and old. Hearing loss is one of the six leading global disease burden. According to the Royal National Institute for Deaf People, the prevalence of hearing loss increases with age, affecting 42% of people over 50 and more than 70% of people over 70. Rising life expectancy is therefore likely to result in an increasing numbers of people living with hearing loss.

Hearing Aids Market: Drivers and Restraints

The factors driving the market is the high incidence of hearing loss with increasing ageing population, and increase in the customization of hearing aids devices. Most of the leading hearing aids device manufacturers have been customizing their product lines to appeal more to consumers and as a result help them to stay ahead of the competition. A large...