Wilmington, Delaware, United States, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global Bluetooth hearing aids market was projected to attain US$ 1.9 billion in 2022. It is anticipated to garner a 7.9% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 3.7 billion by 2031.
Bluetooth hearing aids have been increasingly popular in recent years due to their ease. For example, when used in conjunction with suitable assistive listening equipment, they allow you to alter audio settings as needed. Bluetooth hearing aids are now coupled with gadgets that let users to modify volume or programs from a streamer.
However, one main downside of Bluetooth hearing aids is that they tend to drain the user's smartphone battery quickly. For example, if the user has loaded an app that assists in identifying the hearing aid, constant usage of that app consumes the whole battery, especially if the smartphone is more than two years old. This aspect is anticipated to limit the growth of the Bluetooth hearing aids industry.
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Key Findings of the Market Report
- Bluetooth technology can improve signal-to-noise ratio by reducing feedback from the microphone, since the signal bypasses it and enters the hearing aid processor.
- Bluetooth hearing aids are in increased demand, since hearing aids might be readily connected to smartwatches, mobile phones, and many other smart gadgets that are Bluetooth-enabled.
- AI technology is supposed to assist recognize the sound the user desires to hear or even filter off unpleasant sounds.
- Increased demand for smart hearing equipment is predicted to drive investment in advancement and the incorporation of technology.
Global Bluetooth Hearing Aids Market: Key Players
To achieve a competitive advantage, key players are concentrating on incorporating the most recent technical breakthroughs into their offers. Leading manufacturers are focusing on increasing their e-commerce sales in order to combat the challenge posed by the growing number of start-ups supplying Bluetooth hearing aids. The following companies are well-known participants in the global Bluetooth hearing aids market:
- Sivantos Pte. Ltd.
- Sonova Holding AG
- Cochlear
- William Demant Holding A/S
- GN Store Nord A/S
- Starkey Hearing Aids
- Widex A/S
- Shenzhen Sunsky Technology
- Siemens Healthcare
- Medtechnica Orthophone
Market Trends for Bluetooth Hearing Aids
- Personalization of hearing aids might range from color to sound. customizing color is rather straightforward, but customizing sound is tricky, since developing sound controls over significantly changing surroundings is complex.
- Developments in Bluetooth hearing aids have enabled users to magnify sounds that they desire to hear, especially when there is heavy ambient noise. This might be done via synchronizing assistive listening devices with hearing aids.
- Certain high-end Bluetooth-enabled hearing aids have artificial intelligence (AI), which uses a deep neural network to decode sound. Other technical improvements include wireless hearing aids that link to specific smartphone applications such that they might operate as assistive listening devices by channeling phone calls or the other types of sounds to the hearing aids of the user.
- Some of them can also convert voice to text and translate across languages. Continuous technical improvements that are increasing the multi-functionality of Bluetooth hearing aids is one of the main Bluetooth hearing aids market trends that is gaining momentum among manufacturers.
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Global Market for Bluetooth Hearing Aids: Regional Outlook
- The rise in hearing impairment in the United States is projected to add to North America's substantial market share. Furthermore, increased innovation in hearing aids as well as growing trend of adoption of current technologies in the area is boosting the need for Bluetooth hearing aids featuring smartphone connectivity.
- The WHO claims that more than 190 million individuals in Europe suffering from a certain degree of hearing loss. It goes on to say that, the amount is expected to rise to 230 million by 2050. Need for remaining connected to the world is predicted to fuel the market for linked hearing solutions, consequently pushing the bluetooth hearing aids market share of Europe.
Global Bluetooth Hearing Aids Market Segmentation
Product Type
- Skin behind-the-Ear (BTE) Hearing Aids
- Receiver-In-The-Ear (RIE) Hearing Aids
- In-The-Ear (ITE) Hearing Aids
- In-The-Canal (ITC) Hearing Aids
- Completely-in-the-Canal (CIC) Hearing Aids
Patient Type
- Adult
- Pediatric
End User
- Hospitals
- Clinics
- Individuals
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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