FMI: Bluetooth Hearing Aids Sales Surges

The rising cases of hearing impairment has resulted in high demand for hearing aids. Traditional and wired hearing aids often limited a user’s access to their smart phones or music players. However, technologies today are more sophisticated and are enabling users to connect to their personal electronic devices.

A Future Market Insights (FMI) study sees ongoing trends to highly favour the growth of the Bluetooth hearing aids market – the market is expected to rise at an impressive eight per cent CAGR between 2020 and 2030. With the demand for waterproof hearing aids surging, the market is believed to gain from sales uptick over the forecast period.

Some of the leading companies are aiming at more sophisticated design and robust technologies for Bluetooth hearing aids. The advent of AI in the market resonates their goal to provide cutting-edge technologies.

A slew of product launches is on cards and as per study this will be one of the chief drivers of the market. Report studies various factors enabling growth in the market and opportunities for expansion. It gauges prospects held for innovation and research initiatives.

COVID-19 impact

The unprecedented pandemic outbreak is expected to have significant impact on the market for Bluetooth hearing aids. Besides disruptions in supply-chain, complexities witnessed in the healthcare sector are expected affect the market as well.

Key players in the Bluetooth hearing aid market are include Union Hearing Aid Centre Limited, Beltone, MED-EL Eartone Hearing Aid, Shenzhen Sunsky Technology, Widex, and Cochlear, amongst others.

Companies in the Bluetooth hearing aids market are operating in a highly competitive environment. As a result, there is immense focus on product launches among key players as they aim at gaining competitive advantage. Also, rising demand for advanced technologies is encouraging innovations in the market.