The Hearing Loop by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/hearing-loop-global-market-report
According to The Business Research Company’s Hearing Loop, The hearing loop market size has grown strongly in recent years. It will grow from $10.14 billion in 2023 to $11.07 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to regulatory environment, consumer awareness, market competition, integration with infrastructure, economic factors.
The hearing loop market size is expected to see strong growth in the next few years. It will grow to $15.57 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to evolution of regulations, rising importance of inclusive design, demographic shifts, infrastructure integration opportunities, government initiatives. Major trends in the forecast period include advancements in hearing aid technology, wireless connectivity, integration with smart devices, focus on accessibility, regulatory developments.
The rising patient population with hearing impairments is expected to propel the growth of the hearing loop market going forward. Hearing impairment refers to the loss of some or all of one’s hearing abilities and is classified according to degree and kind such as moderate hearing impairment, mild hearing impairment, severe hearing impairment, and profound hearing impairment. Hearing loop systems are beneficial to all people who have hearing loss and want to improve their understanding of speech and noise. For instance, according to the World Health Organization, a Switzerland-based specialized agency responsible for international public health, in 2021, over 1 billion teenagers were at risk of irreversible, preventable hearing loss as a result of poor listening habits. By 2050, approximately 2.5 billion individuals globally will have some degree of hearing loss, and at least 700 million of them will need hearing rehabilitation. Therefore, the rising patient population with hearing impairments is driving the growth of the hearing loop market.
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The hearing loop market covered in this report is segmented –
1) By Hearing Loss: Conductive Hearing Loss, Sensorineural Hearing Loss, Mixed Hearing Loss
2) By Signal Transmit Type: Radio Wave, Light Wave, Bluetooth, Electromagnetic Wave
3) By Patient Type: Adult, Paediatrics
4) By End User: Hospitals And Clinics, Home Settings, Ambulatory Surgical Centers (ASCs)
Product innovation is the key trend gaining popularity in the hearing loop market. Major companies operating in the hearing loop market are focused on developing innovative products to strengthen their position in the market. For instance, in September 2021, SigNET AC Ltd., a UK-based manufacturer of audio-frequency induction loop equipment, launched the PDA103i, a self-contained hearing loop device explicitly designed to work in conjunction with disability refuge, door entry, and intercom help points. It is enclosed in a stylish, surface-mounting, IP65-certified shell that may be utilized indoors or outdoors. Customizable controls enable the amplifier’s input and output levels to be tailored to the specific requirements of the application. It is also comprised of internal limit, peak, loop fault, and power on indicators.
The hearing loop market report table of contents includes:
1. Executive Summary
2. Hearing Loop Market Characteristics
3. Hearing Loop Market Trends And Strategies
4. Hearing Loop Market – Macro Economic Scenario
5. Global Hearing Loop Market Size and Growth
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31. Global Hearing Loop Market Competitive Benchmarking
32. Global Hearing Loop Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Hearing Loop Market
34. Hearing Loop Market Future Outlook and Potential Analysis
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