London, 24 June 2015 – Technavio has published a new report on the global hearing aids market, which is expected to grow at a CAGR of almost 5% from 2015-2019.
About the Report
According to the new report by Technavio, the prevalence of hearing loss among adults aged 65 and above is five times higher than in those aged below 65. As a person ages, the auditory hair cells in the ear become damaged. This and other age-related disorders lead to hearing loss in elderly individuals.
“A large number of people are experiencing hearing loss and are unaware of the necessity of hearing aids. Increased public awareness of hearing loss increases the demand for hearing aids,” says Faisal Ghaus, Vice President of Technavio.
The market is characterized by new-generation technologies. ReSound LiNX2 by GN Store Nord allows users to stream phone and FaceTime calls, geo-tag favorite locations, and discretely customize audio settings directly through the ReSound Smart App on a smartphone.
“Wireless hearing devices and attachments allow users access to communication, information, and entertainment such as Bluetooth and FM,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global hearing aids market from 2015-2019. To calculate the market size, Technavio uses revenue generated from different types of hearing aids, including behind-the-ear, in-the-ear, and receiver-in-ear.
Key Information Covered in the Report:
Key Vendors:
- GN Store Nord A/S
- Sonova Holding AG
- William Demant Holding AG (WDH)
Market Growth Drivers:
- Growing Incidence in Elderly Population
- For a full detailed list, view our report.
Market Challenges:
- Lack of Awareness and Social Stigma
- For a full detailed list, view our report.
Market Trends:
- Advances in Technology
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
