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Hearing Aids
Approximately 1.5 billion people worldwide have some degree of hearing loss; this figure is expected to grow to nearly 2.5 billion. In 2022, global sales of hearing aids totaled approximately $10.1bn, with the US accounting for more than one-third of sales.
Market drivers include the aging of the population (and associated increase in the prevalence of hearing loss), technological advancements leading to higher-priced devices and expansion to a broader population, user preference for higher-end devices with advanced features, and underpenetration of the market in some regions. Limiters to this market include a large number of lower-cost imports, limited access to hearing care in some regions, and social stigma regarding the use of hearing aids.
This analysis includes a discussion of products, current/forecast markets, competitors, and opportunities in the global markets for hearing aids systems, including accessories (e.g., audio components, portable rechargers, and wireless connectivity devices, among others), hearing aid devices (e.g., components such as amplifiers, power supplies, microphones, and speakers), hearing care services for maintenance and support, and software/apps that customize features, enhance speech, improve usage and sound quality, reduce noise, and stream music, among other uses.
Countries covered by this report include the US, five major European markets (France, Germany, Italy, Spain, and the UK), Japan, and the Rest of World. The forecast range for this report is 2022–27.
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