Research Dive has added a new research report on the Global Hearing Amplifiers Market to its repository. The report reveals the impact of COVID-19 pandemic on the current and future growth of the global market. This report is a comprehensive research formulated by expert market analysts by analyzing major regional market situations, important driving factors, latest trends and advances, and size & scope of the market in the course of the pandemic period.
Highlights of the Report
The COVID-19 disaster has created a positive impact on the global hearing amplifiers market. As per the report, the global hearing amplifiers market was accounted for $67.4 billion in 2019 and is estimated to hit $108.0 billion by 2027, rising at a CAGR of 5.9% throughout the crisis period. The market size in the present scenario has stretched up to $72.2 billion owing to the amplified demand for hearing amplifiers by people suffering from hearing loss.
Factors Boosting the Market Growth amidst COVID-19 Pandemic
The global hearing amplifiers market is projected to experience substantial growth owing to the growing elderly population and increasing cases of hearing loss all over the world. Additionally, as DHH (deaf and hard hearing) people might have heart and blood pressure issues, they have greater chances of getting infected by COVID-19 disease. Therefore, a sudden surge in the adoption of hearing amplifiers has been witnessed in the course of the COVID-19 pandemic, which is fueling the global market growth.
Response of Market Players to COVID-19:
Some of the foremost players in the hearing amplifiers sector are significantly investing in the development of innovative hearing amplifiers during the pandemic. For instance, Olive Union, a firm involved in the development of smart sound algorithms and Bluetooth earpiece technology has introduced the “Olive Smart Ear hearing amplifier” at CES® Las Vegas in January 2020. Such initiatives by industry players are projected to bring in profitable opportunities for the market growth during the pandemic period.
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Additionally, government bodies in various COVID-19 infected countries are supporting the hearing amplifier market players to sustain during the COVID-19 upheaval. For example, the Chinese government has proclaimed effective development plans to support advances in several areas including healthcare, medicines, and telemedicine.
Future Scope of the Market:
As per the report, the global hearing amplifiers market is estimated to perceive incessant growth after the end of COVID-19 pandemic. New entrants and some of the leading players such as:
- iHEAR Medical, Inc.
- SOUNDWORLD Solutions
- Etymotic Research, Inc.
And others are projected to transform the future of the global hearing amplifiers market in the coming years.