Hearing Aid Market Size, Share & Trends Analysis, Product (Hearing Aid Devices, and Hearing Implants), Type of Hearing Loss (Sensorineural Hearing Loss, Conductive Hearing Loss), & Patient Type (Adults, and Pediatrics) and Region, Forecast Period-2022 – 2028

Report ID - MRC_469 | Pages - 321 | Category - Healthcare and Pharma

Hearing Aid Market overview

The Hearing Aid Market is projected to be worth USD 13.27 Billion by 2028, registering a CAGR of 6.7% CAGR during the forecast period (2022-2028), The market was valued at USD 8.43 Billion in 2021. The hearing aid devices segment is estimated to dominate the product segment due to the launch of various hearing aid devices in the market. The adult segment is estimated to grab larger market attention due to high susceptibilities to hearing losses during aging. Further, in the regional market, Europe is anticipated to lead the hearing air market due to the increasing geriatric population.

A hearing aid is a small electronic device used to enhance the hearing that is worn in or behind the ear. It amplifies specific sounds to a person who is enabled to hear. Hearing aids can improve a person’s hearing in both peaceful and noisy environments. Despite their great variety of sizes, designs, and technical capabilities, hearing aids are small, flexible electronics devices that increase speech perception and hearing, resulting in a general improvement in communication capacity.

Hearing Aid Market Dynamics

Driver:

Growing awareness for technologically advanced devices for the treatment of deafness and hearing loss and a surge in adoption of hearing aids devices is estimated to act as a major driver for the market.

Restrain:

The high cost of hearing devices, such as bone-anchored systems, and cochlear implants particularly in low to middle-class income countries is estimated to act as a restraining factor for the market.

Opportunity:

Developing countries such as Malaysia, Vietnam, Africa, and Middle Eastern countries such as Israel, and others provide substantial growth opportunities for the market player to invest. Further, low regulatory barriers are estimated to support the growth of the market.

COVID-19 Analysis of Hearing Aid Market:

The onset of the COVID-19 pandemic has altered medical treatment is provided globally. Many hospitals and departments have been converted to Covid-19 centers for treating patients with COVID-19. To reserve or redirect the limited capacities and resources (such as hospital beds and patient care experts) toward COVID-19 patient care, many elective procedures were canceled or postponed globally. The inclination for remote monitoring has increased due to the COVID-19 epidemic. The crisis has led in a new age in hearing healthcare that necessitates a primary reevaluation of how audiology services are provided. Patients who need audiology treatments today require low- and no-touch services (who are highest risk for COVID-19 morbidity and mortality). Additionally, mobile audiometry and digital hearing care solutions have begun to receive more attention from hearing aid manufacturers for remote counseling, fine-tuning, and tracking of hearing aid devices.

Hearing Aid Market Report Coverage

Report AttributesReport Details
Study Timeline2016-2028
Market Size in 2028 (USD Billion)13.27
CAGR (2022-2028)6.7%
By ProductsHearing Aid Devices: Receiver-in-the-ear Hearing Aids, Behind-the-ear Hearing Aids, Canal Hearing Aids, In-the-ear Hearing Aids, Other Hearing Aid Devices

Hearing Implants: Cochlear Implants, Bone-anchored Systems

By Type of Hearing LossSensorineural Hearing Loss, Conductive Hearing Loss
By Patient TypeAdults, Pediatrics
By geographyNorth America: U.S., Canada, Mexico

Europe: Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe

Asia Pacific: China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific

Latin America: Brazil, Argentina, Chile, Rest of Latin America

The Middle East and Africa: GCC, Turkey, Israel, Rest of MEA

Hearing Aid Market Segmental Analysis:

By Products

The product class is divided into two categories hearing implants and hearing aids. The category of hearing aid devices is further divided into receiver-in-the-ear, behind-the-ear, canal, in-the-ear, and other hearing aid devices. Due to several manufacturers releasing cutting-edge technologies and an aging population, the hearing aid devices market segment had the largest market share in 2021. Further, they are economic as compare to hearing implant which drive the market growth.

global hearing aid market by products

By Type of Hearing Loss

The type of hearing loss section is segmented into sensorineural hearing loss, and conductive hearing loss. The sensorineural hearing loss market had the biggest share in 2021. The expansion of this market is being driven by the increase in geriatric patients. The elderly population is more prone to sensorineural hearing loss due to inner ear damage. Therefore, higher susceptibility among geriatric drives the segment growth in hearing aid market.

By Patient Type

According to the patient type, the hearing aids market is divided into adult and pediatric segments. The segment for adult patients experienced the fastest growth during the forecasted period. Adults make up a significant portion of the patient population as compared to pediatrics due to their higher sensitivity to hearing loss. Due to this factor, the need for hearing aids will continue to increase as this population segment grows.

global hearing aid market by patient type

By Region

The regional segment includes Asia Pacific, Europe, North America, Middle East, and Africa, Latin America. Europe dominated the market, and it is predicted that during the projection period, it will continue to develop at a profitable rate. The prevalence of deafness is on the rise, and people are becoming more conscious of technology improvements, which are major drives of this region. Further, prevalence of hearing loss and growth in knowledge of technical improvements may supplement the market expansion. Additionally, the reimbursement practices of each European country  positively influence the expansion of the market for audiology devices in this region.

Hearing Aid Market Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, and various business strategies have accelerated the growth of the market.

Key Players

  • Phonak
  • Benson Hearing
  • Demant
  • GN Store Nord A/S
  • Starkey
  • MED-EL
  • William Demant Holding A/S
  • Medtronic
  • Widex USA, Inc.
  • Sivantos Pte LTD.
  • Sonova
  • William Demant
  • Sivantos
  • GN ReSound
  • Starkey Technologies
  • Widex

Product launches & Regulatory Approvals-

  • In December 2019, Cochlear Ltd got FDA approval in the United States for the Cochlear Osia 2 System.
  • In October 2018, Boss Corporation received USFDA approval for its boss Hearing Aid, which is designed to amplify sound for anyone aged 18 and above without the need for healthcare providers.
  • Gn store Nord A/S is a hearing device based on the company launched ReSound Key, in February 2021, that provides organic hearing philosophy with natural and clear sound quality. As a result, it will enhance the individual hearing experience and can connect to a wide range of wireless accessories.

Table of Content

  1. Introduction
    • Market Introduction
    • Market Research Methodology
      • Research Process
      • Primary Research
      • Secondary Research
      • Data Collection Technique
      • Data Sources
    • Market Estimation Methodology
      • Limitations of the Study
    • Product Picture of Hearing Aid
    • Global Hearing Aid Market: Classification
    • Geographic Scope
    • Years Considered for the Study
    • Research Methodology in brief:
    • Parent Market Overview
    • Overall Hearing Aid Market Regional Demand
    • Research Programs/Design
    • Market Breakdown and Data Triangulation Approach
    • Data Source
    • Secondary Sources
    • Primary Sources
    • Primary Interviews:
    • Average primary breakdown ratio
  2. Executive Summary
    • Business Trends
    • Regional Trends
    • Products Trends
    • Type of Hearing Loss Trends
    • Patient Type Trends
    • Patient Type Trends
  3. Market Dynamics
    • Drivers
      • Drivers
    • Restraints
      • Restraints
    • Opportunity
      • Impact forces for market dynamics
      • Impact forces during the forecast years
    • Industry Value Chain
      • Upstream analysis
      • Downstream analysis
      • Patient Type
      • Direct Channel
      • Indirect Channel
    • Potential Customers
    • Manufacturing/Operational Cost Analysis
    • Pricing Analysis by Region
    • Key Technology Landscape
    • Regulatory Analysis
    • Porter’s Analysis
      • Supplier Power
      • Buyer Power
      • Substitution Threat
      • Threat from New Entry
      • Competitive Rivalry
    • PESTEL Analysis
    • Political Factors
    • Economic Factor
    • Social Factors
    • Technological Factor
    • Environmental Factors
    • Legal Factor
    • Covid-19 impact on Global economy
    • Covid-19 impact on Hearing Aid demand
    • Post Covid Impact on Hearing Aid Market Demand
    • Impact analysis of Russia-Ukraine Conflict
  4. Global Hearing Aid Market Analysis Forecast by Products
    • Global Hearing Aid Segment by Products
      • Global Hearing Aid Market Revenue Share (%), by Products, 2021
      • Global Hearing Aid Market Revenue (USD Billion), by Products, 2016 – 2028
    • Global Hearing Aid Market Revenue (USD Billion), by Products, 2016 – 2028
      • Hearing Aid Devices
        • Receiver-in-the-ear Hearing Aids
        • Behind-the-ear Hearing Aids
        • Canal Hearing Aids
        • In-the-ear Hearing Aids
        • Other Hearing Aid Devices
      • Hearing Implants
        • Cochlear Implants
        • Bone-anchored Systems
  1. Global Hearing Aid Market Analysis Forecast by Type of Hearing Loss
    • Global Hearing Aid Segment by Type of Hearing Loss
      • Global Hearing Aid Market Revenue Share (%), by Type of Hearing Loss, 2021
      • Global Hearing Aid Market Revenue (USD Billion), by Type of Hearing Loss, 2016 – 2028
    • Global Hearing Aid Market Revenue (USD Billion), by Type of Hearing Loss, 2016 – 2028
      • Sensorineural Hearing Loss
      • Conductive Hearing Loss
  1. Global Hearing Aid Market Analysis Forecast by Patient Type
    • Global Hearing Aid Segment by Patient Type
      • Global Market Revenue Share (%), by Patient Type, 2021
      • Global Market Revenue (USD Billion), by Patient Type, 2016 – 2028
    • Global Hearing Aid Market Revenue (USD Billion), by Patient Type, 2016 – 2028
      • Adults
      • Pediatrics
  1. Hearing Aid by Regions
    • Global Hearing Aid Market Overview, By Region
      • Global Market Revenue, By region
    • Global Hearing Aid Market Revenue (USD Billion), 2016-2028
      • Global Hearing Aid Market Revenue Share (%) by region, 2021
    • North America
      • North America Market Revenue (USD Billion), 2016-2028
    • Asia Pacific
      • APAC Hearing Aid Market Revenue (USD Billion), 2016-2028
    • Europe
      • Europe Market Revenue (USD Billion), 2016-2028
    • Latin America
      • Latin America Hearing Aid Market Revenue (USD Billion), 2016-2028
    • Middle East & Africa
      • Middle East & Africa Hearing Aid Market Revenue (USD Billion), 2016-2028
  1. North America
    • North America Hearing Aid Market Size by Countries
      • North America Hearing Aid Market Revenue (USD Billion) by Countries (2016-2021)
      • North America Market Revenue (USD Billion), by Products, 2016 – 2028
      • North America Market Revenue (USD Billion), by Type of Hearing Loss, 2016 – 2028
      • North America Hearing Aid Market Revenue (USD Billion), by Patient Type, 2016 – 2028
    • United States
      • U.S. Hearing Revenue (USD Billion), by Products, 2016 – 2028
      • U.S. Market Revenue (USD Billion), by Type of Hearing Loss, 2016 – 2028
      • U.S. Market Revenue (USD Billion), by Patient Type, 2016 – 2028
    • Canada
    • Mexico
  2. Europe
    • Europe Hearing Aid Market Size by Countries
      • Europe Market Size, by Products, 2016 – 2028
      • Europe Market Size, by Type of Hearing Loss, 2016 – 2028
      • Europe Market Size, by Patient Type, 2016 – 2028
    • Germany
    • France
    • UK
    • Spain
    • Russia
    • Italy
    • BENELUX
  3. Asia Pacific
    • Asia Pacific Hearing Aid Market Size by Countries
      • Asia Pacific Market Size, by Products, 2016 – 2028
      • Asia Pacific Market Size, by Type of Hearing Loss, 2016 – 2028
      • Asia Pacific Market Size, by Patient Type, 2016 – 2028
    • China
    • Japan
    • Australia
    • South Korea
    • India
    • ASEAN
  4. Latin America
    • Latin America Hearing Aid Market Size by Countries
      • Latin America Market Size, by Products, 2016 – 2028
      • Latin America Market Size, by Type of Hearing Loss, 2016 – 2028
      • Latin America Market Size, by Patient Type, 2016 – 2028
    • Brazil
    • Argentina
    • Chile
  5. Middle East and Africa
    • Middle East and Africa Hearing Aid Market Size by Countries
      • Middle East and Africa Market Size, by Products, 2016 – 2028
      • Middle East and Africa Market Size, by Type of Hearing Loss, 2016 – 2028
      • Middle East and Africa Market Size, by Patient Type, 2016 – 2028
    • GCC
    • Turkey
    • South Africa
  6. Global Hearing Aid Market by Players
    • Global Hearing Aid Market Revenue Share (%): Competitive Analysis, 2021
      • Key entry strategies adopted by market players
      • Global Hearing Aid Market Revenue (USD Billion), By Manufacturer 2021
      • Global Hearing Aid Market Revenue Share (%), By Manufacturer 2021
      • Global Hearing Aid Market Player Positioning, By Manufacturer 2021
  1. Global Hearing Aid Market: Recent Development
  2. Competitive Analysis
    • Thermo Fisher Scientific, Inc.
      • Business Overview
      • Thermo Fisher Scientific, Inc. Business Financials (USD Billion)
      • Thermo Fisher Scientific, Inc. Hearing Aid Product Category, Products and Specification
      • Thermo Fisher Scientific, Inc. Main Business/Business Overview
      • Thermo Fisher Scientific, Inc. Geographical Analysis
      • Thermo Fisher Scientific, Inc. Recent Development
      • Thermo Fisher Scientific, Inc. Swot Analysis
    • QIAGEN N.V.
    • Agilent Technologies, Inc
    • Illumina, Inc.
    • Waters Corporation
    • DNASTAR
    • NeoGenomics Laboratories
    • Perkin Elmer, Inc.
    • NeoGenomics Laboratories
    • GENEWIZ and BGI Group
    • Fios Genomics
    • Partek Incorporated
    • SOPHiA Genetics
    • Source BioScience
    • Biomax Informatics AG
  3. Market Research Findings & Conclusion

Disclaimer 

Research Methodology

The Market Research Community offers numerous solutions and its full addition in the research methods to be skilled at each step. We use wide-ranging resources to produce the best outcome for our customers. The achievement of a research development is completely reliant on the research methods implemented by the company. We always faithful to our clients to find opportunities by examining the global market and offering economic insights.

Market Research Community are proud of our widespread coverage that encompasses the understanding of numerous major industry domains. Company offers consistency in our research report, we also offers on the part of the analysis of forecast across a range of coverage geographies and coverage. The research teams carry out primary and secondary research to carry out and design the data collection methods.
Back to top button