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The hearing aids market accounted for $4,997 million in 2017 and is expected to reach $8,021 million by 2025, registering a CAGR of 6.0% from 2018 to 2025.
Hearing aids are sound-amplifying devices that are designed to help people suffering from hearing disorders. Most hearing aids are made of several electronic components such as a microphone, amplifier circuitry, a miniature loudspeaker (receiver), and batteries. In some hearing aids, earmolds or earpieces are used to enhance sound quality and direct the flow of sound into the ear. The use of hearing aids differs based on type and severity of hearing loss, listening needs, and changing lifestyle.
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