Hearing impairment has become a common phenomenon amongst the adults, primarily due to age. However, the impairment is also seen amongst children as an after-effect of certain ailments or accidents. Loss of hearing is also aggravated amongst patients due to untimely diagnosis. All of these factors have been propelling the global hearing aids market across the globe.

Several governments are making efforts towards enhancing the quality of life of the populace. Since hearing impairments can be a bane for the people, governments have increased their spending towards equipping patients with hearing aids. This has created growth spaces within the market by offering lucrative opportunities to market players. Moreover, the geriatric population is at a higher risk of suffering from hearing losses, thus, making them the primary consumer of the market. The rising geriatric population, especially in North America, is expected to play an instrumental role in propelling demand within the global market for hearing aids. People suffering from hearing impairments have been anticipating new technologies and better products that can ease their discomforts. Hence, the new products that surface in the market are expected to be readily accepted by the consumers. Hearing impairments can also be caused due to untimely treatment of shocks and injuries, thus, necessitating the need for hearing aids within industrial units.

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In the last few years, technological developments in the healthcare sector has helped in increasing the life span of people by providing them better and effective health care. Moreover, large number of geriatric population in developed countries who are susceptible to have hearing problem due to old age has also increased the demand for this market. Nowadays, government in developing economies is also providing better and enhanced healthcare to its people. Thus, with the growing lifespan of the people is expected to drive the demand for this market. Moreover, high disposable income of consumers in developed economies and use of advanced technology in the healthcare sector is likely to benefit the hearing aids market.

The emerging economies are still far from attaining prominence within the healthcare industry. Hence, it is difficult to provide hearing aids at subsidized rates to the all the patients, which hampers the growth of the market. Furthermore, hearing aids require regular replacement of batteries or repair of the machinery, which is not feasible for low-income groups. Hence, the penurious economic situation of the underdeveloped and developing countries is posing a threat to the growth of the global market for hearing aids. Nevertheless, the efforts of the market players to offer durable products at reasonable prices would serve as a boon for the market in emerging economies.

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