Driven by the adoption of rechargeable hearing aids and the conversion from functional devices, the global hearing aid battery market is set to transition into a decline. Specifically, the zinc-air hearing aid batteries are decreasing. Previously the zinc-air battery market was valued at nearly $1.3 billion and is expected to reach $1.2 billion by 2026. What is causing the market to decline by almost $100 million over the forecast period? Find out below.
What is a zinc-air Hearing Aid Battery?
Currently, the hearing aid battery market includes both the traditional zinc-air batteries and rechargeable power sources. For many years, the majority of batteries sold on the market were of the zinc-air type. These batteries have been popular as they have a high energy density through using oxygen in the air as the cathode portion of the cell. The ability to use oxygen in this way eliminates the need to package a cathode electrolyte in the cell and creates a more effective current-generating volume for the same amount of space. Essentially, combining zinc and oxygen creates a steady, long-lasting stream of energy and allows for clear tones, fewer volume adjustments, and fewer battery replacements.
Why is the market declining despite its popularity?
Unfortunately, all good things must come to an end, and for zinc-air batteries, they last anywhere from 5-11 days. Users cannot discontinue the operation of the battery to enhance the lifespan and, as a result, end up consuming many batteries per hearing aid. In addition, the power demands of hearing aids have increased with the introduction of numerous features like wireless programming, feedback algorithms, and noise management. All of which drain the batteries at a much faster rate. Because of the above, users are more inclined to switch to rechargeable hearing aids over disposable batteries.
What other factors are contributing to the decline?
Other factors causing market stagnation surround COVID-19 and declines in the Europe and North America segments. In 2020, as a result of lockdowns and restrictions associated with the pandemic, the global zinc-air battery market slowed. However, online sales and the overall shift away from traditional shopping to e-commerce partially offset this decline. Within Europe and North America, there is an increasing growth in the number of rechargeable hearing aid users that will continue to limit zinc-air battery devices. Canada, France, Germany, the United Kingdom, and the U.S. are slightly behind on the trend towards rechargeable hearing aid devices but are beginning to move in the same direction.
What factors are working to drive the zinc-air battery market?
Several factors are involved in establishing growth within the global zinc-air battery market. Some of which include, demographic factors, increasing binaural fitting rates, technological developments, increasing power capacities, and more. Although a decline is occurring within the zinc-air battery market, battery-powered hearing aids will continue to be used as the zinc-air technology is well recognized among hearing aid users. Therefore, the users who are content using their zinc-air devices are not as likely to switch over to rechargeable devices.
Want to receive further insights?
iData’s analysis further breaks down the zinc-air battery market by battery size, region, distribution channel, including market value generated by sales via professional retail, traditional retail, and online purchases. In addition, the report includes an extensive competitive examination of the top companies and those with products within the market. Want to find out what these companies are doing to reverse the current downward trend and which battery sizes generate the most market value?