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Audiology Devices Market Size By Product (Cochlear Implants, Bone Anchored Hearing Aids (BAHA), Middle Ear Implants (MEI), Hearing Aids {Behind-the-Ear (BTE), Completely-in-the-Canal/ Invisible-in-Canal (CIC/IIC), In-the-Canal (ITC), In-the-Ear (ITE), Receiver in the ear/Receiver in Canal (RITE/RIC)}, Diagnostic Devices {Tympanometers, Otoscopes, Audiometer}), By Patient (Adult, Pediatric), By Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss, Mixed Hearing Loss), Industry Analysis Report, Country Outlook, Growth Potential, Application Potential, Competitive Market Share & Forecast, 2023-2032

  • Report ID: GMI426
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

Audiology Devices Market size surpassed a valuation of USD 10 billion in 2022 and is slated to observe over 6% CAGR from 2023 to 2032. The rapid surge in the incidences of hearing loss due to several factors ranging from aging to chronic exposure to loud noises is likely to boost the demand for audiology devices.
 

Audiology Devices Market

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Hearing disabilities such as hearing impairment and hearing loss have become increasingly prevalent in recent years. As per the World Health Organization (WHO), an estimated 360 million people suffered from hearing loss in 2011, and the number steadily surged to 466 million by 2018. Forecasts indicate that the figure is anticipated to increase and reach 900 million by 2050. A high proportion of these cases remain unaddressed, which may positively influence the industry landscape.
 

High product costs to hamper audiology devices market progression

Audiology devices usually associate high costs and therefore have a low acceptance rate across developing and underdeveloped economies. This, along with the lack of favorable reimbursement policies across several economies, may impede market progress. For instance, several hearing aids featuring proprietary technology are priced on the higher end. The average cost of hearing aids falls around USD 2,300 and can go as high as USD 7,000. In contrast, the increasing rollouts of favorable government initiatives may create a robust growth outlook for the audiology devices industry.
 

Increasing policy support to boost the adoption of cochlear implants

Global Audiology Devices Market Share, By Product

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Audiology devices market from cochlear implants segment held over 15% business share in 2022 and is expected to cross USD 3 billion by 2032. Some of the key factors driving the segment growth include increasing technological advancements, development of minimally invasive implantation techniques, and favorable reimbursement scenarios. Besides, several supportive initiatives undertaken by federal agencies and numerous organizations to assist research in the field of cochlear implantation may prove beneficial for market expansion.
 

Consistent expansion of the elderly population to drive product demand among adults

Global Audiology Devices Market Share, By Patient, 2022 (%)

Segment

Market share, 2022 (%)

Adult

91.70%

Pediatric

8.30%

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Regarding the patient category, the audiology devices market from adult segment is anticipated to showcase a 6% CAGR between 2023 and 2032. Geriatric populace has a greater susceptibility to acquiring hearing difficulties. According to the National Institute for Deafness and Other Communication Disorders estimates, one in three adults in the age group of 65 to 74 suffer from hearing loss. That apart, over 50% of those over the age of 75 have difficulty hearing. Thus, the high prevalence of hearing loss among the adult population will promote the adoption of audiology devices.
 

Surging prevalence of conductive hearing loss to further boost market share

Based on hearing loss, the audiology devices market from conductive hearing loss segment is projected to amass over USD 5 billion by 2032. Conductive hearing loss is a condition that diminishes the auditory thresholds caused by irregular functioning of the conduction of sound along the eardrum, ear canal, middle ear space, or middle ear bones. A visible surge in patients undergoing treatment for the given condition and the burgeoning demand for hearing aids, especially bone-anchored hearing aids, may generate optimistic growth scenarios for the audiology devices business.
 

Increasing disease burden to streamline market expansion across Europe

Global Audiology Devices Market, By Region

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Europe audiology devices market is expected to garner over USD 6.9 billion by 2032. The regional industry is fueled by the increasing prevalence of hearing loss and the presence of major market players in the Europe. As per the JAMA Network article published in 2022, an estimated 135.9 people in Europe have some kind of hearing loss, with about 26.7 million people having disabling hearing loss. Moreover, the rapidly aging population will propel regional market forecasts.
 

Strategic moves to define the competitive landscape

Leading companies operating in audiology devices market are EARTECHNIC, Sonova Holding AG, WS Audiology, RION Co. Ltd, Eargo, Inc., Cochlear Ltd.,GN Store Nord A/S,  MED-EL GmbH, Medtronic plc, Nurotron Biotechnology CO. Ltd, MAICO Diagnostics GmbH, Demant A/S, American Diagnostic Corporation, Starkey, and Envoy Medical.
 

These firms have been consistently working on strengthening their strategic bonds to improve their standing in the global markets. For instance, in June 2022, Demant acquired ShengWang for hearing aid clinics in China. This acquisition will help the company expand its product portfolio and customer reach, further increasing its revenue.
 

How COVID-19 impacted the audiology devices industry trends?

The onset of the COVID-19 pandemic was an unprecedented event impacting public health and led to an incremental surge in hospital admissions. The virus outbreak significantly increased the global disease burden and hampered several businesses, including the healthcare sector, during 2020 & initial phase of 2021. The restrictions on travel and quarantine orders have led to substantial disruptions in availability & access to a wide range of healthcare services, detrimentally impacting the medical ecosystem. The prioritization of COVID-19 patients and emergency services negatively impacted other medical practices, including audiology practice, which severely hampered the market growth during the crisis.
 

The audiology devices market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2018 to 2032, for the following segments:

By Product

  • Cochlear Implants
  • BAHA (Bone-Anchored Hearing Aids)
  • MEI (Middle Ear Implants)
  • Hearing Aids
    • Behind-the-ear (BTE)
    • Completely-in-the-canal/Invisible-in-canal (CIC/IIC)
    • In-the-canal (ITC)
    • In-the-ear (ITE)
    • Receiver in the ear/Receiver in Canal (RITE/RIC)
  • Diagnostic Devices 
    • Tympanometers
    • Otoscopes
    • Audiometer

By Patient

  • Adult
  • Pediatric

By Hearing Loss

  • Sensorineural hearing loss
  • Conductive hearing loss
  • Mixed hearing loss

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Indonesia
    • Philippines
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Columbia
    • Chile
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Turkey

 

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for audiology devices exceeded USD 10 billion in 2022 and is set to exhibit over 6% CAGR from 2023 to 2032 owing to a noticeable rise in the incidences of hearing loss.

Cochlear implants segment size is expected to be worth over USD 3 billion by 2032 driven by increasing technological advancements, development of minimally invasive implantation techniques, and favorable reimbursement scenarios.

Adult segment is poised to depict a 6% CAGR between 2023 and 2032 aided by the increasing prevalence of hearing loss among the aging population.

Europe audiology devices market is primed to be worth over USD 6.9 billion by 2032 majorly due to the increasing aging population and rising incidences of hearing loss.

Major audiology devices manufacturers include EARTECHNIC, Sonova Holding AG, WS Audiology, RION Co. Ltd, Eargo, Inc., Cochlear Ltd.,GN Store Nord A/S, MED-EL GmbH, Medtronic plc, Nurotron Biotechnology CO. Ltd, MAICO Diagnostics GmbH, Demant A/S, American Diagnostic Corporation, Starkey, and Envoy Medical.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 607
  • Countries covered: 25
  • Pages: 350

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