2014-03-21 18:15:02 - Global Hearing Aid Market Report: 2013 Edition - a new market research report on companiesandmarkets.com
A significant increase has been noted in the number of people suffering from hearing problems over the past couple of years. The companies operating in the healthcare and medical technology are setting high standards by producing hearing aids capable of addressing the complex medical needs of patients suffering from hearing loss with the help of technological advancements.
This has helped the patients to lead a safer and happier life. Moreover, incessantly evolving surroundings and ever changing lifestyle have consistently boosted the growth of medical sector. The global hearing aid industry continues to witness volume growth.
People are said to suffer from hearing loss when they have diminished sensitivity to the sounds that are normally heard by others. In speech frequencies, certain
people have relative insensitivity to sound. Such situation is termed as hearing impairment.
The increase in volume above the usual sound levels necessary before the listeners can detect it determines the severity of hearing loss. There are three types of hearing loss: Conductive, Sensorineural and Mixed hearing loss. The hearing losses according to the severity are classified into four types: Mild, Moderate, Severe and Profound hearing loss.
The global hearing aid market is categorized by certain trends which are likely to affect the market. Low penetration rate and reimbursements of the hearing aids are the key trends providing sufficient opportunity for further growth. On the development front, advent of wireless, bluetooth and FM technology are few of the major innovations in this industry.
The growth of this market is driven by growing ageing population, increase in demand of hearing aid devices and growing worldwide economy among others. However, the global hearing aid industry faces serious challenges in terms of social stigma and rise in price pressure.
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