DUBAI, UAE / ACCESSWIRE / January 27, 2021 / Future Market Insights (FMI) in its recent research reports on the Bluetooth hearing aids market is anticipated to grow at a stellar 8% CAGR during the forecast period 2020-2030. As per the research, the growing cases of hearing impairment has ensued in the higher requirement for hearing aids. Wired and traditional hearing aids often restricts a user's access to their music players or smartphones. With progressions in technology, users can connect their devices to stream music and signals to hearing aids.
"Key players are focusing on accommodating 3D printing technologies to nurture design innovations. Further, focusing on cutting-edge technologies can generate incremental prospects for companies," remarks FMI analyst.
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Bluetooth Hearing Aids Market- Key Takeaways
- In terms of product type, behind-the-ear (BTE) hearing aids will be holding the majority of market share in the global market during 2020-2030.
- Based on the sales channel, online retailers are anticipated to gain traction despite the presence of established multi-brand stores.
- Based on the application, the Bluetooth hearing aid demand is poised to be substantially high in clinics/medical centers and hospitals.
- In terms of end-users, the adult's category is anticipated to account for the majority of market share during 2020-2030.
Bluetooth Hearing Aids Market - Key Trends
- Easy to operate, discrete, compact yet robust, and digital are poised to be vital in shaping the market growth.
- Progressions in the technology such as smart ready and Bluetooth 5.0 features are keystones of expansion foreseen in the market.
- AI-enabled hearing aids hold robust prospects for development with several leading brands impelled to offer advanced attributes.
- Growing demand for smart devices in contrast to the conventional hearing aid will augur well for the worldwide market.
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Regional Analysis
- Europe is likely to dominate the global market fuelled by government initiatives for upgrading present healthcare infrastructure to provide advanced patient care and reimbursement policies.
- North America, majorly dominated by the US, spearheads the global market due to consumer's willingness to expend on advanced hearing aids models.
- APAC will record a higher growth rate among other regions owing to healthcare packages and facilities available in remote areas.
Bluetooth Hearing Aids Market - Competitive Landscape
The global Bluetooth hearing aids market is projected to get growingly competitive in the approaching years. Market players will reflect growing preference to drive innovations. Investment towards introducing a new product is slated to increase in the approaching years.
Players are further likely to leverage their e-commerce existence to gain new consumers and extend their regional reach. Further, production outsourcing has become a major trend amid market players.
South Korea and China are amid the popular regions for outsourcing owing to their superior production expertise, low cost of manufacturing, and remarkable existence of skilled professionals.
Major players operating in the global Bluetooth hearing aids market include Sonova Holding AG, Siemens Healthcare, Eartone Hearing Aid, Miracle Hearing Aid, Beltone, GN ReSound, Union Hearing Aid, and Starkey Laboratories Inc.
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Bluetooth Hearing Aids Market - Segmentation
Product Type
- In-The-Ear Hearing Aid (ITE)
- In-The-Canal Hearing Aid (ITC)
- Behind-The-Ear Hearing Aid (BTE)
- Completely-In-The Canal Hearing Aid (CIC)
- Receiver-In-The-Ear Hearing Aid (RIE)
Sales Channel
- Wholesalers/Distributors
- Online Retailers
- Multi-brand Stores
- Speciality Stores
- Hypermarkets/Supermarkets
- ENT Clinics and Audiology Centres
- Other Sales Channel
Application
- Hospitals
- Clinic/ Medical Centers
- Individual
End User
- Adults
- Kids
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Get Valuable Insights into the Bluetooth Hearing Aids Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global Bluetooth hearing aids market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the Bluetooth hearing aids market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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