According to a recent market study published by Growth Market Reports, titled, “Global Hearing Aid Battery Market by Types, by Size, by Distribution Channel: Size, Share, Trends and Opportunity Analysis, 2020-2028”, the market was valued at US$ 1,403.2 Million in 2020 and is expected to expand at a growth rate of 4.6% by 2028.

Request a free sample copy @ https://growthmarketreports.com/request-sample/2600

A hearing aid battery is used in hearing aids to help people who are deaf or hard of hearing. Different sizes, styles, and color-coding are available for these batteries. It is difficult to detect and remember the differences in size. As a result, battery packaging is color-coded for easy finding and purchasing of the necessary batteries. Hearing aid batteries come in a variety of colors: yellow, brown, orange, and blue. Hearing aid batteries last 1 to 20 days on an average. Hearing aid batteries ensure continuous working of hearing aids. Hearing aids are powered by batteries. Most hearing aids used little "button" batteries that had to be replaced every few days to weeks. Many hearing aid devices now include rechargeable batteries.

The global hearing aid battery market has been segmented into types, size, distribution channels, and regions. In terms of types, the global hearing aid battery market is segmented into zinc-air battery, lithium ion rechargeable battery, and silver-zinc rechargeable battery. Based on size, the global hearing aid battery market is segmented into size 10, size 13, size 312, and size 675. On the basis of distribution channels, the global hearing aid battery market is bifurcated into offline and online. Based on offline distribution channels, the market is categorized into specialty stores, supermarkets, and retail outlets. The online distribution channel is further classified into e-commerce websites and company-owned websites. In terms of sub-regions, the Global hearing aid battery market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Need for rechargeable batteries increased, due to advancements in battery technology and the evolution of hearing aid devices, which fueled the expansion of the hearing aid battery market. Bluetooth technology, which uses radio frequencies to transfer data from one electronic device to another to enable wireless communication between the hearing equipment and a smartphone, is used in many modern hearing devices. Hearing aid batteries are available on e-commerce platforms for a lower price than the maximum retail price. As a result, demand for medical gadgets on internet marketplaces is increasing.

The global hearing aid battery market is fragmented based on types, the hearing aid battery market is bifurcated into zinc-air battery, lithium ion rechargeable battery, and silver-zinc rechargeable battery. In terms of size, the hearing aid battery market is segmented into size 10, size 13, size 312, and size 675. Based on distribution channel, the hearing aid battery market is bifurcated into offline and online.

The global hearing aid battery market is expected to decrease in terms of year-on-year growth for 2020 as compared to 2019. Interruption in the supply chain of hearing aid battery across the globe, due to the spread of COVID-19, which had a moderate negative impact on product sales. Thus, the import and export of hearing aid battery declined in sales in 2020. Moreover, inadequate raw material supply and lack of available workforce for production of hearing aid battery in the first and second quadrant of 2020 hampered the market growth in 2020.

As per Growth Market Reports industry analyst, “Hearing aid battery are expected to be popular among end-users during the forecast period. Government initiatives and investments to enhance the capacity of hearing aid batteries, as well as forthcoming projects, drive the demand for hearing aid battery throughout the region over the projected period. Demand for hearing aids is driven by the simplicity of purchasing and the speed with which products are delivered. The hearing aid battery market is expected to develop, due to rapidly growing E-commerce industry and online sales of hearing aid devices throughout the projected period. Key trends that assist the growth of the hearing aid batteries market are the vulnerability of IT-enabled hearing aid devices and the introduction of Bluetooth in hearing aid devices. Over the last few years, the trend of growing elderly population around the world accelerated significantly. Hearing impairments increased as a result of industrial activities and urbanization.”

Key Takeaways from the Study:

  • Europe segment held 43 % value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period.
  • The U.S. in North America segment held 87% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period.
  • Key players including Energizer, Duracell, MAXELL UK LTD, Panasonic, RAYOVAC, Starkey Laboratories, Inc, Toshiba Batteries, VARTA Consumer Batteries GmbH & Co, Widex, ICellTech, Zpower. Energizer hold a major market share of the global hearing aid battery market in 2020.
  • In terms of value, the zinc-air batteries segment is expected to dominate the market. Growing use of zinc-air batteries as power sources in remote railway signaling and navigation aid systems is driving the market.
  • In terms of value, the size 312 segment is expected to dominate the market during the forecast period, as it delivers a longer battery life in a device. Hearing aids that require high power use size 312 batteries.
  • In terms of value, the offline distribution channel segment is expected to dominate the market. However, during the Covid-19 pandemic, the entire world was in a lockdown for several months, which provided opportunities for major participants in the online sales of hearing aid batteries.

Report Scope:

Report Metric

Details

Market Value in 2020

US$ 1,403.2 Million

Market Growth Rate (from 2020 to 2028)

4.6%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2020 - 2028

Units Considered

Value (US$ Million)

Market Segments

By Types, By Size, By Distribution Channel

Regional Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

Key Companies Profiled

Energizer    
Duracell    
MAXELL UK LTD
Panasonic    
RAYOVAC  
Starkey Laboratories, Inc    
Toshiba Batteries    
VARTA Consumer Batteries GmbH & Co
Widex    
ICellTech   
Zpower

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Manufacturers, raw material suppliers, and distributors
  • Demand Side: Adults, Teenagers.
  • Regulatory Side: Concerned government authorities and other regulatory bodies.