Global Hearing Aid
Devices market stood at USD 18.72 Billion in 2021 and is
expected to grow at a steady CAGR of 7.70% during the forecast period. This
can be attributed to the increasing
prevalence of hearing loss and growing adult population globally. The growing
technological advancements across the hearing aid-devices have made them
aesthetically appealing. Thereby increasing the demand of hearing aid devices
globally. Hearing
aids do not require any type of surgery and are very feasible to use and are
best suited for people with less severe hearing loss and fair speech
understanding. Hence, increasing the demand of hearing aid devices
demand globally.
Also, flourishing healthcare industry and increasing healthcare expenditure by
both the governments and population across the different regions is expected to
foster the market growth during the forecast period.
Growing Prevalence of Hearing Loss Driving
Market Growth
Hearing loss and impairments are
becoming more common in people of all ages, from newborns to adults to the
elderly, which is predicted to raise demand for hearing aids globally. The
market is predicted to expand through 2027, thanks to rising rates of prenatal
hearing impairments and adult hearing loss. According to the World Health
Organization (WHO), the number of persons with hearing loss was over 430
million in 2019 and is anticipated to rise to 711 million by 2050. As a result,
the need for hearing aids is likely to rise over the world.
Increasing Noise Pollution Supporting
Market Growth
Hearing aid demand is predicted to rise
as noise pollution becomes more prevalent around the world. Long-term noise
exposure can cause irreparable hearing loss in the population, as well as a
continual ringing in the ears known as tinnitus. As a result, demand for
hearing aid devices has surged dramatically, propelling market expansion
through 2027. Aside from hearing loss, continuous noise exposure causes a slew
of additional issues, including hypertension, cardiovascular illness, stress,
and sleep disruptions, to name a few.
Increasing Healthcare Expenditure Aids
Market Growth
The existing healthcare and medical
device industry is predicted to benefit from rising healthcare expenditures in
various countries throughout the world. This is likely to have a positive
impact on market growth through 2027. According to the World Health
Organization, worldwide healthcare spending was over USD8.3 trillion in 2018,
accounting for nearly 10% of global GDP, and it is likely to rise dramatically
in the future years. However, while the quick breakout and spread of the
COVID-19 pandemic raised demand for healthcare services, spending on lifestyle
and other diseases decreased across countries. Due to rising demand for other
healthcare services and medical devices, this expenditure is likely to rise in the
coming years, presenting prospects for worldwide hearing aid devices as well.
Widespread Use of
Headphones/Earphones/Bluetooth Devices to support Market Growth
The usage of headphones or earphones has
increased because of changing lifestyle patterns, particularly among the youth.
Headphones and earphones are used for a variety of purposes, including watching
movies, listening to music, and conversing on the phone. Furthermore, people
have begun to use Bluetooth gadgets to communicate while driving or performing
any other work. This has resulted in a considerable increase in hearing issues
among teenagers, fueling the growth of the hearing aid market.
Growing Geriatric Population supports
the Market Growth
According to the United Nations Department
of Economic and Social Affairs' Population Division, there were 702.9 million
people aged 65 and up. By 2050, this number is predicted to increase by 120
percent, to 1548.9 million. The expanding elderly population (those aged 65 and
up) is susceptible to a variety of hearing impairments and auditory nerve
damage, which is predicted to boost the worldwide hearing aid device market.

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Market Segmentation
The Global Hearing Aid Devices market is
segmented based on device type, type, style, type of hearing loss, product
type, technology type, patient type, distribution channel, company, and
regional distribution. Based on device type, the
market is divided into prescription-based and over-the-counter. Based on type,
the market is spilt into Hearing Aid Devices and Hearing Implants. Based on style,
the market is segmented into behind-the-ear-aids, In-the-ear-aids,
In-the-canal-aids, and on-the-ear-aids.
Based on types of hearing loss, the
market is divided into sensorineural and conductive. Based on Product type, the
market is divided into wireless and wired. Based on technology type, the market
is divided into digital and analog. Based on patient type, the market is
segmented into adult and pediatric. Based on Distribution Channel, the market
is segmented into offline and online.
Company Profiles
Sonova Holding AG, Demant
A/S, GN Store Nord A/S, Cochlear
Limited, Starkey
Hearing Technologies, Rion
Co., Ltd., WS
Audiology A/S, Medtronic
Plc, Amplifon SpA, Eargo Inc., are among the major market players in
the regional platform that lead the market growth of the Global Hearing Aid
Devices market.
Attribute
|
Details
|
Market size value in 2021
|
USD 18.72 Billion
|
Revenue Forecast in 2027
|
USD 28.58
Billion
|
United States Market Size Value in 2021
|
USD 3.35 Billion
|
Growth Rate
|
7.70%
|
Base Year
|
2021
|
Historical Years
|
2017 –
2020
|
Estimated Year
|
2022
|
Forecast Period
|
2023
– 2027
|
Quantitative Units
|
Revenue in USD Million, Volume in Thousand Units and CAGR for
2017-2021 and 2022-2027
|
Report Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
Segments Covered
|
·
Device Type
·
Type
·
Style
·
Type of Hearing Loss
·
Product Type
·
Technology type
·
Patient type
·
Distribution Channel
|
Regional Scope
|
North
America, Europe, Asia Pacific, South America, and Middle East & Africa
|
Countries Covered
|
United States, Canada, Mexico, Germany, Italy, United Kingdom,
France, Spain, China, India, Japan, Australia, South Korea, Indonesia, Philippines,
Vietnam, Brazil, Argentina, Colombia, South Africa, UAE, Saudi Arabia,
Kuwait.
|
Key Companies Profiled
|
Sonova
Holding AG, Demant A/S, GN Store Nord A/S, Cochlear Limited, Starkey
Hearing Technologies, Rion Co., Ltd., WS Audiology A/S, Medtronic Plc, Amplifon
SpA, Eargo
Inc.
|
Customization Scope
|
10% free report customization with purchase. Addition or alteration
to country, regional & segment scope.
|
Pricing and Purchase Options
|
Avail
customized purchase options to meet your exact research needs. Explore purchase options
|
Delivery Format
|
PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/pdf format on special request)
|