Compact and Flexible Pediatric Hearing Aids with Aesthetically Appealing Designs Encouraging Children to Wear Them with Ease: Fact.MR Report
ROCKVILLE, MD, UNITED STATES, July 15, 2024 /
EINPresswire.com/ -- The global
pediatric hearing aid market is calculated to reach a size of US$ 3.72 billion by the end of 2034, up from US$ 2.21 billion in 2024, according to the latest industry analysis by Fact.MR. Development of devices with enhanced comfort, utility, and advanced functionalities is driving up the adoption of pediatric hearing aids.
Due to their increasing compactness and flexible design, pediatric hearing aids are now more aesthetically pleasant and comfortable for users to use. Pediatric hearing aids come with wireless networking capabilities that enable seamless interaction with smartphones and other digital gadgets or applications. They often possess sophisticated signal processing features as well, which improve voice clarity and sound quality.
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Impact of hearing loss on young children's speech, language, and cognitive development is driving a growing focus on early childhood development programs that include screening, diagnosis, and intervention for hearing loss. As a result, the pediatric hearing aid market is growing at a steady rate. Pediatric hearing aids are crucial for addressing the educational and communication needs of children with hearing loss to support their overall development and well-being.
Key Takeaways from Market Study
The global pediatric hearing aid market is poised for significant growth, expanding at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2034. North America is expected to lead this growth, accounting for 39.2% of the global market share in 2024. Within this region, the United States is set to dominate, holding 72.7% of the revenue share. The demand for pediatric hearing aids is not limited to North America; the East Asia market is projected to reach a valuation of US$ 678 million by the end of 2034. Sales in China are particularly robust, with a projected increase at a CAGR of 7.5% over the same period.
This growth is also reflected in specific product categories and demographics. The use of pediatric hearing aids among toddlers is forecasted to rise at a CAGR of 7.3% through 2034, indicating a growing awareness and adoption of these devices for younger children. Over-the-ear pediatric hearing aids are especially in demand, with sales expected to reach US$ 2.93 billion by 2034. These trends highlight a broader acceptance and need for advanced hearing solutions for children globally, driven by technological advancements and increased focus on pediatric healthcare.
“Focus on the production of more discrete, smaller pediatric hearing aids that provide wireless connectivity and advanced signal processing capabilities is driving market growth,” says a Fact.MR analyst.
Preference for Over-the-Ear (OTE) Hearing Aids
In the market, over-the-ear (OTE) pediatric hearing aids are gaining popularity due to their remarkable versatility, durability, and convenience of use. OTE hearing aids are especially suitable for children and teens since they can accommodate different levels of hearing loss and are simpler to adjust and maintain.
Features of a majority of these devices such as wireless networking and audio processing are designed to enhance the user experience. Parents and caregivers often choose OTE hearing aids for their children because of their reliability and ease of use. Earmolds, for example, ensure a better fit and more consistent performance over time.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pediatric hearing aid market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (over-the-ear aids, custom hearing aids), age group (neonatal, toddlers, children, teenagers), type of hearing loss (conductive hearing loss, sensorineural hearing loss, mixed hearing loss), and end user (hospitals, private clinics, online stores, retail drug stores), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
Competitive Landscape
To stay competitive, key players in the pediatric hearing aid market focus on product innovation and technological advancements. Continuous investments in research and development help manufacturers enhance the features, functionality, and user experience of pediatric hearing aids.
In September 2023, Zepp Health introduced the Zepp Clarity Pixie, a next-generation premium hearing aid designed for mild-to-moderate hearing loss. It boasts a nearly invisible design, 17-hour battery life, and seamless wireless connectivity. In August 2023, Phonak announced new developments for its Lumity platform, catering to individuals with unaidable hearing loss in one ear and those with severe to profound hearing loss, including children, teens, and adults. Additionally, in June 2022, Demant A/S acquired ShengWang, the largest network of hearing aid clinics in China, with nearly 500 locations. This acquisition expanded Demant’s client base and geographic reach in the hearing aid market.
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