Hearing Aids Market - By Product (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)), By Patient (Adult, Pediatric) & Global Forecast, 2023 – 2032

Industry Statistics

Hearing Aids Market size was worth more than USD 7 billion in 2022 and is expected to expand at over 5.5% CAGR from 2023-2032. Rising incidences of hearing loss will accelerate industry growth.
 

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Growing concerns associated with hearing impairment are expected to propel the demand for hearing aids. Loss of hearing affects individuals across all age groups, from children to the elderly. Untreated hearing loss in children hampers social development, communication, and language development, thus lowering the quality of life and necessitating medical intervention, including hearing aids.

Meanwhile, the growing geriatric population also represents a large patient pool suffering from hearing conditions. According to the World Health Organization (WHO), by 2050, approximately 2.5 billion individuals are expected to suffer from a certain level of hearing loss whereas 700 million people will need hearing rehabilitation. This indicates a substantial need for advanced devices to prevent avoidable hearing loss, such as auditory aids.
 

Lack of reimbursement may impede the adoption of hearing aids

Hefty expenses associated with the procurement and long-term use of hearing aids may hamper the hearing aids market share. Additionally, the lack of a favorable reimbursement scenario with a poor framework in low & middle-income countries is adding to the challenges faced by hearing aid manufacturers. Hence affordability issues and a dearth of solid reimbursement policies will affect market progression to a certain extent. Additionally, modern hearing aid equipment with novel modalities is more expensive.
 

Advancements in wearable devices to promote development of novel BTE hearing aids

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In terms of revenue, the hearing aids market share from the behind-the-ear (BTE) segment is projected to exceed USD 4 billion by 2032. The growing use of BTE hearing aids can be attributed to beneficial features such as convenience, compact size, and favorable fitting. Consumers can directly purchase BTE devices as OTC hearing aids from local pharmacies without any prescription. These devices are versatile and offer customization to the user with external sound sources comprising of auditory training mechanism and infrared audio equipment.

Recent advancements in wearable medical devices, including smart & intelligent systems or Bluetooth-paired technologies, are also fueling the development of novel BTE models with superior-quality sounds. These aids are primarily used in young children with hearing loss since they can easily be modified into a variety of sizes and shapes and can be easily cleaned.
 

High exposure to loud music may fuel the need for hearing aids among young adults

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Hearing aids market value from adult patients is poised to reach over USD 11.5 billion by 2032. The rising prevalence of hearing impairment in the adult population and the substantial growth in the global geriatric population are fueling the need for hearing aids. As per the National Institute for Deafness & Other Communication Disorders study in 2021, in the U.S., over 38 million adults above the age of 18 years suffered from some degree of hearing loss.
 

Supportive government policies to augment North America hearing aids industry growth

North America hearing aids market size is estimated to surpass USD 4 billion by 2032 due to the rising cases of hearing impairment, the expanding elderly population, affordable costs, and new product launches. Additionally, favorable government policies and initiatives are encouraging industry players to introduce cost-effective solutions, thus improving access for patients.
 

New product launches to complement the competitive landscape

Some of the leading companies in the global hearing aids industry include AS AUDIO-SERVICE GmbH, Audina Hearing Instruments, Demant A/S, EARTECHNIC, GN Store Nord A/S, Sonova Holding AG, Starkey, WS Audiology, RION Co. Ltd, Eargo, Inc., ZOUNDS Hearing Inc., Elkon Pvt Ltd, Horentek Hearing Diagnostics, SeboTek Hearing Systems, Nano Hearing Aids, IN4 Technology Corporation, and Microson.
 

Impact of the COVID-19 pandemic on the hearing aids market trends

The COVID-19 pandemic negatively affected the hearing aids industry with a dramatic impact on the healthcare sector. The pandemic fueled hospitalization rates significantly, compelling most hospitals and healthcare facilities to postpone non-emergency care and focus all resources on the diagnosis and treatment of patients infected with the virus. Government-imposed lockdowns introduced new roadblocks and resulted in the shutdown of smaller ENT clinics worldwide, thus hampering the treatment and services associated with hearing impairment such as hearing training, hearing aid trial, and programming.
 

Hearing aids market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and Units from 2018 to 2032, for the following segments:

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By Product

• 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)

By Patient

• Adult
• Pediatric

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Indonesia
  • Philippines
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru

• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Turkey
  • Egypt