Industry Background:
Hearing loss is the most popular sensory disability and the third largest contributor to the global disease. These types of disabling cases mostly found in low and middle-income countries (LMICs) and hearing aids are the keys to therapy. Hearing aid batteries are mainly of four sizes and are identifiable by the help of tabs colour– brown, yellow, orange and blue. The increasing commonness of hearing loss, increase in online sales of hearing aid devices, and developments in hearing aids and its battery technology are expected to drive the market for hearing loss batteries in the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Starkey Hearing Technologies, Inc. (United States), Doppler Labs Inc. (United States), SPECTRUM BRANDS (United States), Energizer Holdings (United States), Duracell (Switzerland), Panasonic (Japan), Sony (Japan), Toshiba (Japan), Sivantos Pte. Ltd. (Singapore), Sonova Holding AG (Switzerland), Nessa Hearing Pte Ltd. (Singapore) and Rion Co. Ltd. (Japan) |
This growth is primarily driven by Rising Geriatric Population and High Prevalence of Hearing Loss.
Globally, a noticeable market trend is evident 3D Printing Technology Evolution in the Medical Sector
Major Players, such as Starkey Hearing Technologies, Inc. (United States), Doppler Labs Inc. (United States), SPECTRUM BRANDS (United States), Energizer Holdings (United States), Duracell (Switzerland), Panasonic (Japan), Sony (Japan), Toshiba (Japan), Sivantos Pte. Ltd. (Singapore), Sonova Holding AG (Switzerland), Nessa Hearing Pte Ltd. (Singapore) and Rion Co. Ltd. (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In May 2018, Sivantos and Widex have an intension to merge to create a global hearing aid leader. The merger aims at accelerating growth, strengthening market penetration and enhancing efficiencies to enable additional investments into R&D and supply chain. This will allow the merged company to expand access to hearing healthcare via its dedicated salesforce through even more innovative solutions across a wide range of hearing needs, increasing the quality of life of millions of people and allowing them to actively participate in social life.
In Feb 2023, Beltone, named Hearing Care Retailer & Best in Customer Service by Newsweek, announced the expansion of its CES Innovation hearing aid portfolio to include four additional style options for providers and patients to choose from, including the brand new miniRIE style.
Regulatory Insights:
In the FDA Reauthorization Act of 2017 (FDARA), Congress outlined certain requirements to establish a category of over-the-counter (OTC) hearing aids and the requirements that apply to them. This statutorily mandated process requires FDA to publish proposed regulations for public comment, and then to publish final regulations.
Influencing Trend:
3D Printing Technology Evolution in the Medical Sector and Legislative Support for Battery Recycling
Market Growth Drivers:
Rising Geriatric Population and High Prevalence of Hearing Loss
Restraints:
Low Penetration of Hearing Aids Owing to Their High Cost
Opportunities:
Growth Potential of Hearing Aid Batteries In Emerging Countries and Technological Advancement and Innovative Product Design
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Hearing Aid Batteries Market
- Analysis about New Entrants in Hearing Aid Batteries Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Hearing Aid Batteries Study Sheds Light on
The Hearing Aid Batteries Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Hearing Aid Batteries industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Hearing Aid Batteries industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.