France Hearing Aids Market to Grow at a CAGR of 7.2% until 2028
Published | 09 August 2022
France Hearing Aids Market is gaining significant traction owing to the growth in the geriatric population, increasing use of smart hearing aids, and rising incidence of noise-induced hearing loss..
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the France Hearing Aids Market is predicted to grow at a CAGR of 7.2% during 2022 - 2028. The France Hearing Aids Market is booming because of the rising prevalence of hearing loss and high purchasing power. Moreover, the development of hearing aid technology is supported strongly by the enormous number of skilled medical professionals. Additionally, the long-term existence of top hearing aid companies has raised consumer awareness of technologically advanced hearing aid products, which has led to their widespread acceptance among ENT doctors, audiologists, and hearing care professionals. Furthermore, France Hearing Aids Market is one of the most emerging markets that grow continuously owing to the fast integration of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI), cloud computing, and others. However, variations in the cost of various materials ultimately drive up the price of finished goods, thus slowing the market's rate of expansion. The France Hearing Aids Market is suffering from a lack of training facilities and declining product output.
Increased Frequency of Hearing Loss
It is vital to monitor and analyze hearing functions due to the increased prevalence of hearing loss across the country. Untreated hearing loss in children has a detrimental influence on social interaction, learning, and language development. Similar to younger folks, older adults with hearing loss frequently struggle to follow daily conversations. Untreated hearing loss has been associated with several medical and mental problems in older adults, including depression and cognitive decline as well as a higher risk of trips and falls. As a result, the France Hearing Aids Market is predicted to develop at a significant rate during the forecast period (2022-2028).
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Regular Use of Earphones and Bluetooth Devices
The use of headphones or earphones has increased as a result of changing lifestyle patterns, particularly among young people. Headphones and earphones are used for many different activities, including watching movies, listening to music, and talking on the phone. Additionally, people have begun to use Bluetooth devices to communicate while driving or performing other tasks. As a result, the number of teenagers with hearing problems has increased significantly, fueling the growth of the hearing aid market. Furthermore, the hearing aid device market in France is expected to grow as a result of the aging population (those 65 and older) being more susceptible to various hearing impairments and auditory nerve damage. This results in offering lucrative opportunities for the France Hearing Aids Market during the forecast period (2022-2028).
Lack of Qualified Professionals
There is now a dearth of qualified individuals in numerous nations who can successfully carry out ENT treatments like cochlear implantation. This issue is significantly more prevalent in underdeveloped areas. Despite having a sizable target patient population base, these areas are predicted to have a limited supply of experienced ENT surgeons, which will restrict the number of ENT procedures performed annually, including cochlear implantation. The market for hearing aids is facing a significant challenge as a result.
Segmental Coverage
France Hearing Aids Market – By Device Type
Based on device type, the France Hearing Aids Market is segmented into Digital Hearing Aids and Analog Hearing Devices. Among these, the digital hearing aids segment holds the largest market share. Some of the advantages of digital hearing aids include improved sound quality due to selective amplification of sound, reduced feedback normally associated with conventional hearing aids, a more comfortable listening experience, and automatic adaptation to changing and listening environments without the need for manual intervention for volume adjustments. All these factors boost the growth of the France Hearing Aids Market during the forecast period (2022-2028).
Impact of COVID-19 on France Hearing Aids Market
The COVID-19 epidemic has harmed the healthcare industry. Patients from all around the nation are flooding hospitals with urgent treatment requests, and as a result, many hospitals are at capacity. The management of COVID-19 patients is requiring the postponement or cancellation of millions of elective procedures. The market for medical devices has also been impacted badly by this. The declining curve is visible in the market for equipment including orthopedic implants, heart valves, intraocular lenses, and audiology testing instruments. The market for hearing aids is the same in this regard. The market's major manufacturers have reported a drop in hearing aid device sales. Additionally, sales have declined as a result of the deferral of cochlear implantation treatments.
Competitive Landscape
The leading market players in the France Hearing Aids Market are William Demant Holding A/S, Sonova Holding, Sivantos Pte Ltd, GN Store Nord AS, Widex A/S, and Starkey Hearing Technologies Inc., and other prominent players. The France Hearing Aids Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the France Hearing Aids Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the France Hearing Aids Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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