Key Bluetooth Hearing Aids Market players, as identified by the TMR’s report on the global Bluetooth hearing aids market, include Sivantos Pte. Ltd., Sonova Holding AG, Cochlear, MED-EL, Beltone, Miracle Hearing Aid Clinic, Persona, Union Hearing Aid Centre, Eartone, Siemens Healthcare, Shenzhen Sunsky Technology, Starkey Hearing Aids, GN ReSound, Medtechnica Orthophone, William Demant Holding A/S, GN Store Nord A/S, and Widex A/S.
Hearing impairment and relevant problems have prevailed as the second most prevalent health problems over the years. Bacterial or viral infections, aging, trauma, noise, and genetic factors have been major reasons for hearing problems. The Centers for Disease Control and Prevention (CDC), has estimated over 10% of the population in Europe to be suffering from hearing impairment. Prevalence of hearing impairment has also been surging in developing countries such as China and India.
A complete implementation of Bluetooth standard needs greater power supply than that capable of being generated within small footprint of the hearing aid’s battery. However manufacturers of Bluetooth hearing aids have long ago come up with an intelligent solution to access this prevalent wireless standard. Hearing aids, with the help of compatible assistive listening devices, generally called streamers, can offer the communication between wireless technology of hearing aids and Bluetooth-enabled devices.
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Personalized listening experience has been one of the major benefits of Bluetooth hearing aids, which has driven their adoption among hearing impaired patients over the past few years. Audio signal can be usually set to stream to multiple hearing aids, with the streamlined signal being amplified and shaped for matching the personalized settings of the hearing aid. Based on the manufacturer’s design, volume of a stream is capable of being controlled through the Bluetooth hearing aids.
Bluetooth hearing aids nowadays also are integrated with capabilities to remotely change programs or volume from the streamer. This comes in handy particularly when the hearing aids are too compact to accommodate external controls. Bluetooth has become a standard protocol of the electronics industry. The already tested and refined platform of Bluetooth facilitates its adoption in hearing aids, and complements cost-effective production.
According to Transparency Market Research, global market for Bluetooth hearing aids is slated to exhibit an impressive growth between the period 2017 and 2026. Sales of Bluetooth hearing aids across the globe are forecast to surpass US$ 850 Mn in revenues by 2026-end.
North America to Remain Dominant in Global Bluetooth Hearing Aids Market
In North America, over 10% of the population is affected from hearing impairment, and the percentage is increasing, even among the youth population. In the U.S., hearing-impaired individuals typically pay for hearing aids themselves, as the nation has limited margin for public hearing healthcare system. The conditions in Canada however vary from one province to another. These instances significantly create opportunity for penetration of Bluetooth hearing aids in North America. The region is projected to remain dominant in the global Bluetooth hearing aids market, in terms of revenues.
Bluetooth hearing aids are expected to witness the largest demand from adult patients. This is mainly because of the rapidly growing geriatric population across the globe, wherein prevalence of hearing impairment is ever relatively higher. Demand for Bluetooth hearing aids by pediatric patients will remain comparatively lower than that by adult patients during the forecast period.
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BTE and ITE Hearing Aids to Remain Most Remunerative Products in the Market
Based on product type, behind-the-ear (BTE) hearing aids and in-the-ear (ITE) hearing aids are expected to be the most remunerative in the global Bluetooth hearing aids market through the forecast period. This is mainly because of growing implementation of miniature technology in Bluetooth hearing aids, along with product customization provisions. Miniature technology facilitates comfortable fitting of Bluetooth hearing aids, enabling hearing-impaired patients to lead a normal life.
Hospitals and clinics will continue to be the leading end-users in the global Bluetooth hearing aids market, in terms of revenues. Sales of Bluetooth hearing aids to individuals and in hospitals will exhibit equal CAGRs through 2026.
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