Global Hearing Aids Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Product Type (Behind-the-ear (BTE), In-the-Ear (ITE), In-the-Canal (ITC), Completely-in-the-Canal (CIC), Invisible-in-the-Canal (IIC), Others), By Technology Type (Analog, Digital), By End User (Adults, Infants), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2020 To 2025

Published:  Apr 2021 Report Code: KSI061613617 Pages: 118

The hearing aids market is projected to grow at a CAGR of 7.52% to reach US$12.963 billion by 2025, from US$8.390 billion in 2019.

The rising prevalence of hearing loss or hearing impairment among individuals is causing them to get more aware of consuming healthy hearing aids in order to mitigate the chances of suffering from further complications and boost the market growth.

According to the World Health Statistics (WHO), there are around 466 million individuals that suffer from hearing loss, out of which around 34 million are children. WHO also estimates that the number of people suffering from hearing loss will reach around 900 million by 2050. Hearing loss in individuals is caused due to major genetic causes, complications caused at birth, certain infectious diseases, chronic ear infections,  use of particular drugs, exposure to excessive noise among some other factors. It has also been found out that about 1.1 billion young children have suffered hearing losses due to exposure to loud noises and sound levels in recreational settings.

In addition, the expenditure that needs to be spent on hearing loss and the unaddressed hearing loss problems takes up the total cost to US$750 billion globally in a year. Individuals benefit from early detection of the hearing loss so they can be given hearing aids and no future damage occurs to their ears. There are different solutions that are being implemented and recommenced to the patients such as cochlear implants, and assistive devices among others. Therefore, this is increasing the awareness among the patients and thus causing a surge in the demand for hearing aids and is propelling the market growth over the forecast period.

Increasing efforts are being made by the organizations in order to promote the usage and adoption of hearing aids and the patients that are suffering from different types of hearing loss in order to improve the hearing capability and prevent further damage to the ears and ear health.

There are organizations that are involved in proving assistance by setting up programs in order to decrease the cases of hearing loss and prevent further damage that can be caused to the individuals due to any lack of awareness. For example, The World Health Organization (WHO) is assisting the Member States in order to develop programs for ear health and hearing care that must be integrated into the primary healthcare system of every country. Some of the work WHO is carrying out includes;

providing technical support in the member states for facilitating the development in the national plans for hearing care, taking steps and measures in order to provide the necessary resources in order to effectively guide the healthcare providers and healthcare workers in regards to hearing care. Providing technical resources and other forms of guidance for the purpose of training the healthcare workers on hearing care and distributing the recommendations so as to address the major and preventable causes of hearing losses, undertaking advocacy so that the awareness regarding hearing loss and hearing problems can be raised about the rising prevalence and impacts that hearing loss holds.

Some of the few key points and platforms that are being focused on are building effective partnerships, hearing care programs, and taking effective initiatives for making the hearing aids and other hearings assist solutions more affordable to the low-income population as well. Furthermore, WHO is also promoting their WHO-ITUY global standard in which they have prescribed the recommended hearing levels and other basic standards for home audio equipment and devices, so as to promote the practice of safe listening and not causing any damage to the ears, which is being achieved through their Make Listening Safe initiative. Hence, the presence of such safety guidelines and the continuous efforts being made by organizations such as, WHO among others are leading to an increased demand for hearing aids and thus contributing to the market growth further over the forecast period.

Product Launches by Major Market Players in the Hearing Aids MarketSpace

The offering of better and advanced varieties of hearing aids with enhanced technologies such as AI and durability among other properties by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.

Some of the examples of product offerings are as follows:

  • Recently, in February 2020, ReSound, one of the companies that deal in the provision of hearing solutions, announced that they had launched a new product called the “ENZO Q”, which is a hearing aid that is able to solve the major challenges most of the hearing aids being offered in the market are not able to do. These include the individuals suffering from severe to profound hearing loss: in-front speeches or in environments with noise. This device shows an improvement of around 60%, can be easily connected to via smartphone and is able to stream phone calls, music, video soundtracks, and even other audio clips on both iOS and Android devices.
  • In March 2019, Starkey, which is a company involved in the provision of hearing aids for the customers announced that they have launched their new hearing aid product, which is able to facilitate technology-enabled capabilities and has been equipped with AI. The product launched is the first AI-enabled hearing aid device to be launched in the UK and was launched in the US earlier in August. In addition, the device is a rechargeable device, multi-purpose, and multi-function device and is connectable to the Thrive app.

The North American region to hold a considerable share over the forecast period.

The North American region is expected to hold a considerable market share over the forecast period owing to the fact that the healthcare industry is well established in the countries such as the US and there is an increasing number of investments being made in order to improve the quality of the hearing aids by different major players. The Asia Pacific region is expected to witness a significant increase in its market share over the forecast period as there is increasing spending being made on the development of healthcare products to cater to the different hearing problems of the geriatric population.

Global Hearing Aids Market Scope:

Report Metric Details
 Market size value in 2019  US$8.390 billion
 Market size value in 2025  US$12.963 billion
 Growth Rate  CAGR of 7.52% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Product Type, Technology Type, End-User, Distribution Channel, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  Phonak - A Sonova brand, Starkey., WIDEX A/S, GN Store Nord A/S, Sivantos Pte.   Ltd., UPSTATE HEARING INSTRUMENTS
 Customization scope  Free report customization with purchase

Segmentation:

  • By Product Type
    • Behind-the-ear (BTE)
    • In-the-ear (ITE)
    • In-the-canal (ITC)
    • Completely-in-the-Canal (CIC)
    • Invisible-in-the-Canal (IIC)
    • Others
  • By Technology Type
    • Analog
    • Digital
  • By End-User
    • Adults
    • Infants
  • By Distribution Channel
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of global hearing aids market?
A1. Hearing Aids market was valued at US$8.390 billion in the year 2019.
 
Q2. What will be the hearing aids market size by 2025?
A2. The hearing aids market is projected to reach a market size of US$12.963 billion by 2025.
 
Q3. What are the growth prospects for the hearing aids market?
A3. The global hearing aids market is projected to grow at a CAGR of 7.52% over the forecast period.
 
Q4. What factors are anticipated to drive the hearing aids market growth?
A4. Rising prevalence of hearing loss or hearing impairment among the individuals is causing them to get more aware of consuming health hearing aids in order to mitigate the chances of suffering from further complications and boosting the market growth.
 
Q5. Which region holds the largest market share in the hearing aids market?
A5. The North American region is expected to hold a considerable market share over the forecast period.
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
 
2. Research Methodology
2.1. Research Data
2.2. Assumptions
 
3. Executive Summary
3.1. Research Highlights
 
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
 
5. Hearing Aids Market Analysis, by Product Type
5.1. Introduction
5.2. Behind-the-ear (BTE)
5.3. In-the-ear (ITE)
5.4. In-the-canal (ITC)
5.5. Completely-in-the-Canal (CIC)
5.6. Invisible-in-the-Canal (IIC)
5.7. Others
 
6. Hearing Aids Market Analysis, by Technology
6.1. Introduction
6.2. Analog
6.3. Digital
 
7. Hearing Aids Market Analysis, by End-User
7.1. Introduction
7.2. Adults 
7.3. Infants
 
8. Hearing Aids Market Analysis, by Distribution Channel 
8.1. Introduction
8.2. Online
8.3. Offline
 
9. Hearing Aids Market Analysis, by Geography
9.1. Introduction
9.2. North America
9.2.1. North America Hearing Aids Market, By Product Type, 2019 to 2025
9.2.2. North America Hearing Aids Market, By Technology Type, 2019 to 2025
9.2.3. North America Hearing Aids Market, By End-User, 2019 to 2025
9.2.4. North America Hearing Aids Market, By Distribution Channel, 2019 to 2025
9.2.5. By Country
9.2.5.1. United States
9.2.5.2. Canada
9.2.5.3. Mexico
9.3. South America
9.3.1. South America Hearing Aids Market, By Product Type, 2019 to 2025
9.3.2. South America Hearing Aids Market, By Technology Type, 2019 to 2025
9.3.3. South America Hearing Aids Market, By End-User, 2019 to 2025
9.3.4. South America Hearing Aids Market, By Distribution Channel, 2019 to 2025
9.3.5. By Country
9.3.5.1. Brazil
9.3.5.2. Argentina
9.3.5.3. Others
9.4. Europe
9.4.1. Europe Hearing Aids Market, By Product Type, 2019 to 2025
9.4.2. Europe Hearing Aids Market, By Technology Type, 2019 to 2025
9.4.3. Europe Hearing Aids Market, By End-User, 2019 to 2025
9.4.4. Europe Hearing Aids Market, By Distribution Channel, 2019 to 2025
9.4.5. By Country
9.4.5.1. UK
9.4.5.2. Germany
9.4.5.3. France
9.4.5.4. Spain
9.4.5.5. Others
9.5. Middle East and Africa
9.5.1. Middle East and Africa Hearing Aids Market, By Product Type, 2019 to 2025
9.5.2. Middle East and Africa Hearing Aids Market, By Technology Type, 2019 to 2025
9.5.3. Middle East and Africa Hearing Aids Market, By End-User, 2019 to 2025
9.5.4. Middle East and Africa Hearing Aids Market, By Distribution Channel, 2019 to 2025
9.5.5. By Country
9.5.5.1. Saudi Arabia
9.5.5.2. United Arab Emirates
9.5.5.3. Israel
9.5.5.4. Others
9.6. Asia Pacific
9.6.1. Asia Pacific Hearing Aids Market, By Product Type, 2019 to 2025
9.6.2. Asia Pacific Hearing Aids Market, By Technology Type, 2019 to 2025
9.6.3. Asia Pacific Hearing Aids Market, By End-User, 2019 to 2025
9.6.4. Asia Pacific Hearing Aids Market, By Distribution Channel, 2019 to 2025
9.6.5. By Country
9.6.5.1. Japan
9.6.5.2. China
9.6.5.3. India
9.6.5.4. Others
 
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
 
11. Company Profiles 
11.1. Phonak - A Sonova brand
11.2. Starkey.
11.3. WIDEX A/S
11.4. GN Store Nord A/S
11.5. Sivantos Pte. Ltd. 
11.6. UPSTATE HEARING INSTRUMENTS
11.7. List is not Exhaustive*

Phonak - A Sonova brand

Starkey.

WIDEX A/S

GN Store Nord A/S

Sivantos Pte. Ltd.

UPSTATE HEARING INSTRUMENTS

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