The Global Hearing Aid Battery Market was valued at USD 1,403.2 million in 2020 and is projected to reach USD 1,987.1 million by 2028, expanding at a CAGR of 4.6% during the forecast period. The hearing aid battery market is projected to expand at a rapid pace globally, owing to urbanization and increasing population.
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.
Ear trumpets and ear horns were passive amplification cones designed to gather sound energy and direct it into the ear canal. Modern devices are automated electroacoustic systems that use audio metrical and cognitive criteria to transform environmental sound into audible sound. It has a sophisticated digital signal refining system that attempts and improves speech accessibility and comfort for the user.
Response management, large dynamic range compression, directionality, frequency lowering, and noise depletion are examples of signal processing. A pattern that matches the wearer's hearing loss, physical traits, and lifestyle is required for such a hearing aid. The hearing aid is tuned to the most recent audiogram and projected at a certain frequency.
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.
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.
In terms of types, the hearing aid battery market is segmented into zinc-air battery, lithium ion rechargeable battery, and silver-zinc rechargeable battery. Over the projected period, 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. The lithium ion rechargeable battery segment is expected to expand at a significant CAGR, due to rising demand for plug-in vehicles, increased demand for battery-operated material-handling equipment in industries due to automation, continuous development of smart devices, and growing adoption of lithium-ion batteries in the renewable energy sector.
The zinc-air batteries segment is projected to expand at a rapid CAGR, as a huge variety of electrical gadgets and appliances used in daily life are powered by zinc-air batteries. Watches, hearing aids, pagers, and other devices employ zinc-air batteries. These batteries have high energy density and are inexpensive to manufacture.
In terms of size, the hearing aid battery market is segmented into size 10, size 13, size 312, and size 675. The size 675 segment is expected to dominate the market during the forecast period, as it delivers long battery life in a device. Hearing aids that require high power use size 675 batteries. Over the forecast period, the demand for size 10 batteries is expected to increase, due to various benefits offered by the equipment. Factors that are projected to boost the demand for size 10 batteries are low maintenance cost and high savings. Size 675 is the largest among all sizes and have long battery life from 9 to 20 days, which is anticipated to fuel the segment.
In terms of distribution channels, the hearing aid battery market is bifurcated into online and offline. Over the projected period, the online distribution channel segment is expected to dominate the market. 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.
Over the forecast period, the demand for the offline distribution channel segment is expected to increase, as customers prefer to check the products and make purchases through offline distribution channels. The usual method of purchasing a product or piece of equipment is through offline distribution channels. The capacity to inspect a product and make an informed decision is the primary benefit of offline purchases.
Based on regions, the global hearing aid battery market is fragmented into North America, Europe, Latin America, and Middle East & Africa. Europe accounted for a significant share of the market in 2020 and the market in regions such as Asia Pacific (APAC) and North America is anticipated to expand at a substantial CAGR during the forecast period. Europe is expected to dominate the global hearing aid battery market in the forecast period, due to increasing prevalence of deafness as well as increased public knowledge of technical breakthroughs.
Asia Pacific holds a substantial share of the market during the forecast period, due to rapid industrialization in the region. The market in Asia Pacific is expected to develop at a rapid rate over the forecast period, due to huge population base, rising incidence of the geriatric population, and advancements in distribution networks of market players. Over the forecast period, several factors, such as the expanding industrial sector and increased investments in the hearing aid batteries infrastructure sector, are expected to boost the demand for hearing aid batteries in North America. Various governments in North America are investing in the development of hearing aid batteries, which is projected to fuel the demand for hearing aid batteries.
Hearing loss affects 11 million people in the UK. Hearing impairment is projected to increase as the population in Europe ages, which is expected to drive the market in Europe. Outsource manufacturing emerged as a prominent trend among industry participants to improve or maintain their market position. China and South Korea are among the top locations for outsource manufacturing, due to manufacturing skills, low manufacturing costs, and significant presence of skilled experts in the countries.
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According to this Growth Market Reports report, the hearing aid battery market is expected to register a CAGR of 4.6% during the forecast period, 2020-2028, with an anticipated valuation of USD 1,987.1 million by the end of 2028.
In addition to market size (in US$ Million), Company Market Share (in % for base year 2020), Regulatory Landscape, Technology Landscape, Patent Analysis, Consumer Survey, and Pipeline /Clinical Trial Analysis are available in the report.
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.
End-uses of hearing aid battery include adults, teenagers, adults.
The base year considered for the global hearing aid battery market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 and 2019 are the historic years, and the forecast is provided from 2020 to 2028.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to decline to a growth rate 0.7% between 2019 and 2020, owing to the effect of COVID 19 pandemic on the hearing aid battery market
Factors such as government regulations, E-commerce industry, GDP, technological advancement, R&D activities, and population are analyzed in the final report.
Major players include Energizer, Duracell, MAXELL UK LTD, Panasonic, RAYOVAC, Starkey Laboratories, Inc, Toshiba Batteries, VARTA Consumer Batteries GmbH & Co, Widex, ICellTech and Zpower.
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