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Hearing Aids Market Size
- Report ID: GMI5082
- Published Date: Apr 2023
- Report Format: PDF
Hearing Aids Market Size
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.
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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Hearing Aids Market Size in 2022: | USD 7.3 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.6% |
| 2032 Value Projection: | USD 12.6 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 300 |
| Segments covered: | Product, Patient, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Hearing Aids Market Scope
