Increasing Number of Patients with Hearing Loss and Tech Innovations in Hearing Aid Devices Fuel Hearing Aids Market Growth
Hearing aids devices are typically prescribed for patients affected with sensorineural hearing loss, conductive hearing loss, and mixed hearing loss. Worldwide, ~466 million people suffer from hearing loss and this number is anticipated to double by 2050 due to the expanding ageing population and new cases of hearing loss caused by noise exposure, ototoxicity, and untreated ear infections. Technological interventions are likely to favour the growth of the global hearing aids market. Innovations such as wireless hearing aids devices and AI-enabled hearing aids are creating new opportunities of revenue generation. Cochlear implants are particularly gaining ground in cases of childhood hearing loss, which further supports market growth.
Low Access to Audiological Care Creates Untapped Market with High Growth Potential
As per the global estimates by World Health Organization (WHO), around 15% of adults have some degree of hearing impairment. As per the National Institute on Deafness and Other Communication Disorders (NIDCD) Fact Sheet, only 20% people who would benefit from a hearing aid actually use it. The usage of hearing aids in developed markets for severe-to-profound hearing loss is higher compared that used for mild-to-moderate hearing loss. As per the estimations of Sonova Group, 70% of people with severe-to-profound hearing loss use hearing aid instruments up against only 10% of people with mild-to-moderate hearing loss.
Roughly 80% of people with hearing loss live in low- and middle-income countries in developing regions and the overall rate of penetration deepens as low as 3%. Affordable hearing care is still a challenge for people in emerging countries.
Sales of Hearing Aids Slumped During COVID-19 Pandemic
The COVID-19 pandemic caused a temporary decline in sales of hearing aids as the situation is forcing the system to postpone or cancel all the non-emergency elective procedures amid the crisis. This posed a direct impact on the performance of hearing aid devices worldwide. Statistical data by the Hearing Industries Association (HIA) reveals that the hearing aid sales in the US dropped by almost 18% in 2020.
Demographic Dividends to Drive Hearing Aids Market Growth
Demographic dividends such as the expanding ageing population and increasing life expectancy are anticipated to drive the growth of the global hearing aids market. There are increasing point of sales activities; for instance, Greenfield store openings and testing of new distribution channels. A significant number of newborns who qualify for a cochlear hearing implant remains the reason for continuous market expansion. Sleek, cosmetically appealing designs of hearing aids and implants are also attracting a greater number of end users. In developed economies, younger and less-affected people are inclining towards hearing aids as the technology advances and contributes to better sound quality, and compact and discreet-looking devices.
Economic Growth in Developing Countries to Boost Hearing Aids Consumption
The growth has been anticipated as the increasing middle-class population in emerging economies is boosting the consumption significantly. Many companies are strategizing in the market with a strong focus on the potential of emerging markets to serve the demands of these newly empowered consumers with suitable product formats. In addition, new indication approvals and new market entries are sustaining sales of hearing implants and presenting modest growth projections for hearing devices. The fact that many developing countries lack trained health personnel, educational facilities, and necessary data to address the needs of those living with hearing problems aggravates this challenge.
Advanced Technological Solutions to Shape Future Growth of Hearing Aids Market
The hearing aids market is highly diverse and requires a broad range of technologically advanced solutions in addition to extensive customer service channels. Researchers are actively working on different ways to apply new signal processing strategies to the design of hearing aids. NIDCD-funded researchers are also studying how hearing aids can enhance speech signals to improve understanding. In addition, researchers are investigating the use of computer-aided technology to design and manufacture more efficient hearing aids. They have been seeking methods to improve sound transmission and reduce noise interference, feedback, and the occlusion effect. Additional studies focusing on new ways to manage hearing aids selection and fitting in children and different age groups whose hearing ability is hard to test.
Another promising research focus is on the use of lessons learned from animal models to design better microphones for hearing aids. NIDCD-supported scientists are studying the tiny fly Ormia ochracea because its ear structure allows the fly to determine the source of a sound easily.
An Oligopolistic Market Consolidates Further; Top Brands Bank on Acquisitions
Five leading manufacturers capture ~90% of the global hearing aids market and focus primarily on high-income countries (HIC) and high-value market segments in LMICs such as wealthier urban population. Around 70% of hearing aid units are sold in Europe and North America.
The big five in the market, Sonova Group, GN Hearing A/S, Demant A/S, WS Audiology, and Starkey Hearing Technologies, have strong product diversification - multiple brands with features and price (In the range of ~$600 to $3000 per unit for high-end models), allowing them to target different market segments. This is the result of both in-house product development and strategic acquisitions. These companies also leverage technical hurdles to switch between suppliers and build exclusive contact with audiologists to retain market dominance.
Some of the other players in the hearing aids market are Cochlear Limited., SeboTek Hearing Systems, LLC, Audina Hearing Instruments, Inc., RION Co., Ltd., Horentek Hearing Diagnostics S R L, Microson S.A., and Arphi Electronics Private Limited.
Regional Classification of the Global Hearing Aids Market is Listed Below:
North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East & Africa
1. Executive Summary
1.1. Global Hearing Aids Market Outlook, 2019 - 2030 (US$ Million)
1.2. Global Hearing Aids Market Incremental Opportunity, 2019 - 2030 (US$ Million)
1.3. Key Industry Trends
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver 1
2.2.1.2. Driver 2
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Opportunities
2.2.3.1. Opportunity 1
2.2.3.2. Opportunity 2
2.3. Regulatory Guidelines & Reimbursement Scenario
2.4. Technological Advancements
2.5. COVID-19 Impact Analysis
3. Global Hearing Aids Market Outlook, 2019 - 2030
3.1. Global Hearing Aids Market Outlook, By Product, 2019 - 2030
3.1.1. Key Highlights
3.1.2. Global Hearing Aids Market Outlook, By Product, Value (US$ Million), 2019 - 2030
3.1.2.1. Behind-The-Ear
3.1.2.2. In-The-Ear
3.1.2.3. In-the-Canal
3.1.2.4. Receiver in the Canal
3.1.2.5. Hearing Implants
3.1.2.6. Others
3.1.3. Global Hearing Aids Market Share and BPS Analysis, Product, 2023 and 2030
3.1.4. Global Hearing Aids Market Attractiveness Analysis, Product, 2019 - 2030
3.2. Global Hearing Aids Market Outlook, By Patient Type, 2019 - 2030
3.2.1. Key Highlights
3.2.2. Global Hearing Aids Outlook, by Patient Type, Value (US$ Million), 2019 - 2030
3.2.2.1. Pediatrics
3.2.2.2.Adults
3.2.3. Global Hearing Aids Market Share and BPS Analysis, by Patient Type, 2022 and 2030
3.2.4. Global Hearing Aids Market Attractiveness Analysis, by Patient Type, 2019 - 2030
3.3. Global Hearing Aids Market Outlook, By Technology, 2019 - 2030
3.3.1. Key Highlights
3.3.2. Global Hearing Aids Outlook, by Technology, Value (US$ Million), 2019 - 2030
3.3.2.1. Conventional
3.3.2.2.Digital
3.3.3. Global Hearing Aids Market Share and BPS Analysis, by Technology, 2022 and 2030
3.3.4. Global Hearing Aids Market Attractiveness Analysis, by Technology, 2022 and 2030
3.5. Global Hearing Aids Market Outlook, By Region, 2019 - 2030
3.5.1. Key Highlights
3.5.2. Global Hearing Aids Market Outlook, by Region, Value (US$ Million), 2019 - 2030
3.5.2.1. North America
3.5.2.2. Europe
3.5.2.3. Asia Pacific
3.5.2.4. Latin America
3.5.2.5. Middle East & Africa
3.5.3. Global Hearing Aids Market Share and BPS Analysis, by Region, 2022 and 2030
3.5.4. Global Hearing Aids Market Attractiveness Analysis, by Region, 2019 - 2030
4. North America Hearing Aids Market Outlook, 2019 - 2030
4.1. North America Hearing Aids Market Outlook, by Product, 2019 - 2030
4.1.1. Key Highlights
4.1.2. North America Hearing Aids Market Outlook, by Product, Value (US$ Million), 2019 - 2030
4.1.2.1. Behind-The-Ear
4.1.2.2. In-The-Ear
4.1.2.3. In-the-Canal
4.1.2.4. Receiver in the Canal
4.1.2.5. Hearing Implants
4.1.2.6. Others
4.1.3. North America Hearing Aids Market Share and BPS Analysis, by Product, 2022 and 2030
4.2. North America Hearing Aids Market Outlook, By Patient Type, 2019 - 2030
4.2.1. Key Highlights
4.2.2. North America Hearing Aids Market Outlook, By Patient Type, Value (US$ Million), 2019 - 2030
4.2.2.1. Pediatrics 4.2.2.2.Adults
4.2.3. North America Hearing Aids Market Share and BPS Analysis, Patient Type, 2022 and 2030
4.3. North America Hearing Aids Market Outlook, By Technology, 2019 - 2030
4.3.1. Key Highlights
4.3.2. North America Hearing Aids Market Outlook, By Technology, Value (US$ Million), 2019 - 2030
4.3.2.1. Conventional
4.3.2.2. Digital
4.3.3. North America Hearing Aids Market Share and BPS Analysis, Technology, 2022 and 2030
4.5. North America Hearing Aids Market Outlook, By Country, 2019 - 2030
4.5.1. Key Highlights
4.5.2. North America Market Outlook, by Country, Value (US$ Million), 2019 - 2030
4.5.2.1.U.S.
4.5.2.2. Canada
4.5.3. North America Hearing Aids Market Share and BPS Analysis, by Country, 2022 and 2030
5. Europe Hearing Aids Market Outlook, 2019 - 2030
5.1. Europe Hearing Aids Market Outlook, Product, 2019 - 2030
5.1.1. Key Highlights
5.1.2. Europe Hearing Aids Market Outlook, Product, Value (US$ Million), 2019 - 2030
5.1.2.1. Behind-The-Ear
5.1.2.2. In-The-Ear
5.1.2.3. In-the-Canal
5.1.2.4. Receiver in the Canal
5.1.2.5. Hearing Implants
5.1.2.6. Others
5.1.3. Europe Hearing Aids Market Share and BPS Analysis, Product, 2022 and 2030
5.2. Europe Hearing Aids Market Outlook, Patient Type, 2019 - 2030
5.2.1. Key Highlights
5.2.2. Europe Hearing Aids Market Outlook, Patient Type, Value (US$ Million), 2019 - 2030
5.2.2.1. Pediatrics
5.2.2.2. Adults
5.2.3. Europe Hearing Aids Market Share and BPS Analysis, Patient Type, 2022 and 2030
5.3. Europe Hearing Aids Market Outlook, Technology, 2019 - 2030
5.3.1. Key Highlights
5.3.2. Europe Hearing Aids Market Outlook, Technology, Value (US$ Million), 2019 - 2030
5.3.2.1. Conventional 5.3.2.2.Digital
5.3.3. Europe Hearing Aids Market Share and BPS Analysis, Technology, 2022 and 2030
5.4. Europe Hearing Aids Market Outlook, By Country, 2019 - 2030
5.5.1. Key Highlights
5.5.2. Europe Hearing Aids Market Outlook, by Country, Value (US$ Million), 2019 - 2030
5.5.2.1. Germany
5.5.2.2. France
5.5.2.3. U.K.
5.5.2.4. Italy
5.5.2.5. Spain
5.5.2.6. Rest of Europe
5.5.3. Europe Hearing Aids Market Share and BPS Analysis, by Country, 2022 and 2030
6. Asia Pacific Hearing Aids Market Outlook, 2019 - 2030
6.1. Asia Pacific Hearing Aids Market Outlook, Product, 2019 - 2030
6.1.1. Key Highlights
6.1.2. Asia Pacific Hearing Aids Market Outlook, Product, Value (US$ Million), 2019 - 2030
6.1.2.1. Behind-The-Ear 6.1.2.2.In-The-Ear
6.1.2.3.In-the-Canal 6.1.2.4.Receiver in the Canal 6.1.2.5.Hearing Implants 6.1.2.6.Others
6.1.3. Asia Pacific Hearing Aids Market Share and BPS Analysis Value (US$ Million), 2019 - 2030
6.2. Asia Pacific Hearing Aids Market Outlook, Patient Type, 2019 - 2030
6.2.1. Key Highlights
6.2.2. Asia Pacific Hearing Aids Market Outlook, Patient Type, Value (US$ Million), 2019 - 2030
6.2.2.1. Pediatrics
6.2.2.2. Adults
6.2.3. Asia Pacific Hearing Aids Market Share and BPS Analysis, Patient Type, 2022 and 2030
6.3. Asia Pacific Hearing Aids Market Outlook, Technology, 2019 - 2030
6.3.1. Key Highlights
6.3.2. Asia Pacific Hearing Aids Market Outlook, Technology, Value (US$ Million), 2019 - 2030
6.3.2.1. Conventional
6.3.2.2. Digital
6.3.3. Asia Pacific Hearing Aids Market Share and BPS Analysis, Technology, 2022 and 2030
6.5. Asia Pacific Hearing Aids Market Outlook, By Country, 2019 - 2030
6.5.1. Key Highlights
6.5.2. Asia Pacific Hearing Aids Market Outlook, by Country, Value (US$ Million), 2019 - 2030
6.5.2.1. Japan
6.5.2.2. China
6.5.2.3. India
6.5.2.4. Australia & New Zealand
6.5.2.5. Rest of Asia Pacific
6.5.3. Asia Pacific Hearing Aids Market Share and BPS Analysis, by Country, 2022 and 2030
7. Latin America Hearing Aids Market Outlook, 2019 - 2030
7.1. Latin America Hearing Aids Market Outlook, Product, 2019 - 2030
7.1.1. Key Highlights
7.1.2. Latin America Hearing Aids Market Outlook, Product, Value (US$ Million), 2019 - 2030
7.1.2.1. Behind-The-Ear
7.1.2.2. In-The-Ear
7.1.2.3. In-the-Canal
7.1.2.4. Receiver in the Canal
7.1.2.5. Hearing Implants
7.1.2.6. Others
7.1.3. Latin America Hearing Aids Market Share and BPS Analysis, Product, 2022 and 2030
7.2. Latin America Hearing Aids Market Outlook, Patient Type, 2019 - 2030
7.2.1. Key Highlights
7.2.2. Latin America Hearing Aids Market Outlook, Patient Type, Value (US$ Million), 2019 - 2030
7.2.2.1. Pediatrics
7.2.2.2.Adults
7.2.3. Latin America Hearing Aids Market Share and BPS Analysis, Patient Type, 2022 and 2030
7.3. Latin America Hearing Aids Market Outlook, Technology, 2019 - 2030
7.3.1. Key Highlights
7.3.2. Latin America Hearing Aids Market Outlook, Technology, Value (US$ Million), 2019 - 2030
7.3.2.1. Conventional
7.3.2.2.Digital
7.3.3. Latin America Hearing Aids Market Share and BPS Analysis, Technology, 2022 and 2030
7.3. Latin America Hearing Aids Market Outlook, By Country, 2019 - 2030
7.3.1. Key Highlights
7.3.2. Latin America Hearing Aids Market Outlook, by Country, Value (US$ Million), 2019 - 2030
7.3.2.1. Brazil 7.3.2.2.Mexico
7.3.2.3.Rest of Latin America
7.3.3. Latin America Hearing Aids Market Share and BPS Analysis, by Country, 2022 and 2030
8. Middle East & Africa Hearing Aids Market Outlook, 2019 - 2030
8.1. Middle East & Africa Hearing Aids Market Outlook, Product, 2019 - 2030
8.1.1. Key Highlights
8.1.2. Middle East & Africa Hearing Aids Market Outlook, Product, Value (US$ Million), 2019 - 2030
8.1.2.1. Behind-The-Ear
8.1.2.2. In-The-Ear
8.1.2.3. In-the-Canal
8.1.2.4. Receiver in the Canal
8.1.2.5. Hearing Implants
8.1.2.6. Others
8.1.3. Middle East & Africa Hearing Aids Market Share and BPS Analysis, Product, 2022 and 2030
8.2. Middle East & Africa Hearing Aids Market Outlook, Patient Type, 2019 - 2030
8.2.1. Key Highlights
8.2.2. Middle East & Africa Hearing Aids Market Outlook, Patient Type, Value (US$ Million), 2019 - 2030
8.2.2.1. Pediatrics
8.2.2.2. Adults
8.2.3. Middle East & Africa Hearing Aids Market Share and BPS Analysis, Patient Type, 2022 and 2030
8.3. Middle East & Africa Hearing Aids Market Outlook, Technology, 2019 - 2030
8.3.1. Key Highlights
8.3.2. Middle East & Africa Hearing Aids Market Outlook, Technology, Value (US$ Million), 2019 - 2030
8.3.2.1. Conventional
8.3.2.2. Digital
8.3.3. Middle East & Africa Hearing Aids Market Share and BPS Analysis, Technology, 2022 and 2030
8.3. Middle East & Africa Hearing Aids Market Outlook, By Country, 2019 - 2030
8.4.1. Key Highlights
8.4.2. Middle East & Africa Hearing Aids Market Outlook, by Country, Value (US$ Million), 2019 - 2030
8.4.2.1. GCC Countries
8.4.2.2. South Africa
8.4.2.3. Rest of Middle East & Africa
8.4.3. Middle East & Africa Hearing Aids Market Share and BPS Analysis, by Country, 2022 and 2030
9. Competitive Landscape
9.1. Market Share Analysis, 2021
9.2. Company Profiles
9.2.1. Audina Hearing Instruments, Inc.
9.2.1.1. Company overview
9.2.1.2. Financial performance
9.2.1.3. Product Pipeline
9.2.1.4. Recent Developments
*Above details will include, but not be limited to below list of companies based on availability
9.2.2. Amplifon
9.2.3. Cochlear Ltd
9.2.4. Demant A/S
9.2.5. SeboTek Hearing Systems, LLC
9.2.6. Sonovo Holding AG
9.2.7. WIDEX A/S
9.2.8. Others
10. Appendix
10.4. Research Methodology
10.5. Report Specific Research Approach
10.6. Acronyms and Abbreviations
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2018 - 2022 |
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2023 - 2030 |
Value: US$ Million |
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Report Highlights |
Key Market Indicators, Market Estimates and Forecast Value, Market Dynamics, Regulatory Guidelines, COVID-19 Impact Analysis, Regional and Country Insights, Competitive Landscape, Company Profiles |
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