The global hearing aids market is likely to undergo numerous changes and transform due to the technological innovation taking place in developing hearing aids. Leading players in the global hearing aids market are focusing on expanding their product portfolio and focusing on strengthening their position against their competitors. William Demant Holdings, Sonova Holding AG, Amplifon S.p.A, GN ReSound, Sivantos Pte. Ltd., Widex, Cochlear Ltd, and Starkey Hearing Technologies, Inc. are some of the eminent vendors providing hearing aids.
Adoption of technologies and further investment in research and development activities, players are introducing different variety enhances hearing aids. Recently, Phonak recently introduced one the latest advanced hearing aid technologies. Its devices offer speech understanding, excellent performance, and high sound quality. Phonak Audéo™ M model are available at Marvel, which is a new hearing aid platform.
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With increasing transformation in technology used for hearing aids, the global hearing aids market is expected to cross ~ US$ 10 Bn by the end of 2024. The market is expected to face few challenges during this period.
Innovations Transforming Hearing Aids
- Use of wireless and Bluetooth Technology – Nowadays, hearing aids are equipped with Bluetooth technology that makes its use very convenient and easy to use. Various hearing aids manufacturers are coming up with in-the-ear (ITE) and behind-the-ear (BTE) models. For example, the Opn from Oticon is made for iPad, iPhone, and iPod touch, allowing user to stream audio directly into your hearing aids. On the other hand, various ear devices require the use of a streamer. It is worn around the neck or it is placed in a pocket for hand-free use.
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- Tele-audiology – Hearing aids has moved far away from hospitals to easier access locations. Therefore, manufacturers are now focusing on innovating in details about the ear from a distant location. Similar to fitness tracker, hearing aids are also transforming now. In this, audiologist can remotely change and update hearing aids settings. ReSound LiNX 3D hearing is device that allows individual using this hearing aid to send their audiologist a real-time snapshot in case they are facing difficulties with the help of the hearing aid app.