The pediatric hearing aid market is projected to grow at a CAGR of 5.3% from 2017 to 2025.
NEW YORK, NY, USA, September 22, 2022 /EINPresswire.com/ — Persistence Market Research (PMR) recently published a new research report titled “Pediatric hearing aid market: Global industry analysis (2012-2016) and forecast (2017-2025)”. Hearing aids can help improve the hearing and speech of children with sensorineural hearing loss (hearing loss in the inner ear due to damage to the auditory nerve).
Sensorineural hearing loss can be caused by noise, trauma, infection, certain medications, birth defects, tumors, and circulation problems. According to the American Academy of Otolaryngology, more than 3.0 million American children have hearing loss, and about 1.3 million of them are under 3 years of age.
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• William Demant Holding A/S
• Sivantos Pte. OOO
• GN Nord A/S store
• Starkey Hearing Technologies, Inc.
• WIDEX USA, INC.
• Corporation Erlens
• Cochlear Limited
• IntriCon Corporation
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More children will lose their hearing in later childhood. Moreover, about 90% of deaf children are born to parents with normal hearing. The global pediatric hearing aid market is forecast to grow at 5.3% per annum from 2017 to 2025.
The growth in disposable income of consumers living in middle-income regions is expected to drive the growth of the hearing aid market in the future. This, in turn, is expected to increase the demand for high quality hearing aids. In addition, it has been observed that hearing aids are used relatively less frequently in developing countries.
The need for advanced diagnostics to open up many opportunities for market participants
The introduction of advanced diagnostic testing equipment to detect hearing loss in the pediatric population is expected to provide lucrative opportunities for both existing and new players in the global pediatric hearing aid market. The increasing prevalence of hearing loss, such as congenital hearing loss and nerve deafness among children, is one of the major factors driving the pediatric hearing aid market today. The use of hearing aids has increased with the growing number of patients worldwide.
Therefore, the high demand for hearing aids will be an excellent opportunity for manufacturers of hearing aids for children to capitalize. An increase in parental awareness of children’s health issues in the field of health is also expected to lead to the use of hearing aids in children in the near future.
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Most developing countries avoid the use of hearing aids or any type of prosthesis due to social insecurity. What’s more, most hearing aids today are based on digital technologies that are easy to use and sound clearer. Hence, the widespread use of digital hearing aid technology is also expected to play a key role in the growth of the pediatric hearing aid market during the forecast period.
Over the ear to be the most preferred product
Over the forecast period, overlays will be the preferred product type for pediatrics. It is expected that by the end of 2025 its value will exceed 1800 million US dollars. Among the product types available for on-ear headphones, on-ear headphones will have the highest sales. However, the in-channel receiver is expected to witness the highest growth over the forecast period.
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