Hearing Aid Market 2021-2026 Competitive Analysis and Segmentation: It can also be connected to the myPhonak app, which provides information about the battery status and wearing time statistics of the earpiece, as well as offers the ability to control the volume and frequencies. For instance, Sonova AG, a Switzerland-based provider of hearing solutions, has recently launched Audéo Marvel under its Phonak brand, which is a receiver-in-canal hearing aid that can be paired with Bluetooth-enabled devices for direct audio streaming and making hands-free phone calls. They are also investing in research and development (R&D) activities to introduce new product variants. Furthermore, some of the leading players in the industry are introducing hearing aid devices that operate on lithium-ion batteries, which offer enhanced power when compared to conventional batteries. Apart from this, the significant increase in the prevalence of hearing disabilities among the masses has boosted the sales of hearing aids across the globe. This can be attributed to the association of old age with gradual hearing loss. The growing geriatric population represents one of the major factors impelling the hearing aid market growth. The amplifier then enhances the power of the signals and directs them to the ear through the speaker. The hearing aid receives sound from the microphone, which is converted into electrical signals and sent to the amplifier. It has three basic components, namely, a speaker, amplifier and a microphone. They help in amplifying the sound, which enables the user to listen, communicate and participate in everyday activities. Hearing aids are small, battery-operated electronic devices that are worn in or behind the ear for improving hearing impairment. These observations will be integrated into the report. We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. According to the latest report by IMARC Group, titled “ Hearing Aid Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2021-2026” the global hearing aid market reached a value of US$ 8.7 Billion in 2020.