Ear Health Market

Increasing Prevalence of Ear Diseases to Enhance the Product Demand for Ear Health Market

Meniere's disease, tinnitus, earaches, vertigo, hearing loss, and ear infections are some of the conditions that affect ear health. There are many aids available in the market that enhance the hearing ability. The increasing prevalence of ear diseases is the primary factor driving global ear health market. According to World Health Organization (WHO) reports, more than 466 million people worldwide suffer from disabling hearing loss, and ear infections are the most common cause. Adults (24 million males and 190 million females) account for over 432 million (93% of the population), while children account for 34 million (7%).  Hearing loss is now the most prevalent condition among patients, particularly in developed countries. According to the United States Centres for Disease Control and Prevention (CDC), approximately 15% of Americans (over 50 million people) suffer from tinnitus. These developments are expected to drive the demand for otoscopes, as these devices are commonly used to diagnose ear-related illnesses.

The rapid increase in the older population is expected to have a significant impact on the industry's expansion, since the number of people over the age of 65 who require hearing aids is increasing. Disabling hearing loss affects almost one-third of the population over the age of 65. For instance, the prevalence of ear diseases commonly surges with the age, among those elder than 65 years, over 25% are suffering from disabling hearing loss as per WHO reports. The market is being driven by an increasingly older population, a high frequency of ear disorders, an increase in noise-induced hearing loss, and a shift in customer preference for plant-based supplements.

Noise exposure, chronic inflammation, genetic susceptibility, physiological ageing, and vascular disorder also cause hearing loss. These factors lead to an expanding hearing impairment patient population worldwide, thereby growing sales of these devices. According to the EHIMA’s annual global sales, over 17.05 million hearing devices were sold across the globe in 2019, with an increase of 6.4% sales compared to the previous year. The number of hearing device users is increasing therefore, ear health market is expected to grow at a significant rate over the forecast period.

Technological Advancements in Hearing Aids Devices Segment will foster Ear Health Market Growth

Hearing aids are expected to be the fastest-growing segment of the ear health market over the forecast period. In 2020, the hearing aids market for the behind-the-ear (BTE) segment accounted for around USD 6.5 Billion. This is attributable to a combination of factors, including improved amplification, high efficiency, longer battery life, and ease of use.  Continuous technological developments, as well as new product launches, are driving the industry forward. In developing countries, the World Health Organization promotes the deployment of low-cost, high-quality hearing aids. As a result, digital behind-the-ear hearing aids are being developed to meet WHO guidelines, with advanced software and minimum hardware needs. These Bluetooth-enabled products provide enhanced wireless connectivity. As a result, market players are concentrating their efforts on developing technologically improved innovative behind-the-ear (BTE) devices that are simple to use, smaller in size, and provide increased comfort.

Increased Awareness and Rising Adoption Rate of Hearing Devices to Drive Growth of Europe Ear Health Market

In 2021, Europe led the market with a revenue share of more than 35% and is expected to grow at the fastest rate throughout the forecast period. It is attributed to the increase in the prevalence of hearing loss, a high rate of adoption of technologically advanced devices, the presence of highly sophisticated healthcare infrastructure, a favourable reimbursement structure, and increased patient awareness of the treatment options available for hearing disorders. In addition, the growth of the hearing devices market in this region is driven by strong government support policies and increased research for producing advanced hearing equipment. Furthermore, many companies’ strategic presence, such as WS Audiology, GN Store Nord A/S, Demat A/S, and Senovo in the region, is expected to fuel growth. For instance, presently, around 1260 people in England receive cochlear implants every year.

According to the WHO's Hearing Report for 2021, 196 million people in the WHO region of Europe have some hearing loss, with 57.3 million (6.2%) having severe or profound hearing loss. 236 million people in Europe will experience hearing loss in some form by 2050. Hearing impairment is predicted to increase with Europe's ageing population, which will drive ear health market in Europe. In Germany, healthcare insurance is mandatory, and approximately 86% of the population is covered by statutory health insurance, which includes both inpatient and outpatient care. Furthermore, manufacturing outsourcing is now becoming widely popular in Germany as a result of superior manufacturing expertise, the availability of qualified experts, and low production costs, among other factors. The German government has implemented many initiatives to strengthen hearing care devices in the country, along with the State Care Benefits Act pertaining to hearing care devices, which is anticipated to enhance the market growth.

The rapid growth of the ear health market in North America can be ascribed to the increasing prevalence of hearing illness among children, the growing elderly population, and improvements in the distribution network of market leaders in the country. According to the March 2021 update from the National Institute on Deafness and Other Communication Disorders, approximately 2 to 3 children out of 1,000 in the United States are born with a discernible level of hearing impairment in one or both ears, and roughly 15% of American adults, or 37.5 million people, aged 18 and up, report some hearing impairment. As a result, the rising prevalence of hearing loss among children and elderly individuals in the country is driving the demand for hearing aids.

Ear Health Market: Competitive Landscape

In 2021, InnerScope Hearing Technologies (US) acquired Atlazo Inc. (US) for producing next-generation hearing aids and hearable devices by using Atlazo’s patented Artificial Intelligence (AI) hardware platform. On the other hand, Medtronic PLC (Ireland) acquired Intersect ENT (US) in 2021 to enhance Medtronic's product portfolio used during ear, nose, and throat treatments.

Few of the players in the ear health market include William Demant Holdings A/S (Denmark), Stryker Corporation, Olympus Corp. (Japan), Cochlear Limited (Australia), and Onova Holdings AG (Switzerland).

Regional Classification of the Global Ear Health Market is Described Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East and Africa

*Regions and countries are subject to change based on data availability

Key Elements Included In The Study: Global Ear Health Market

• Ear Health Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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