Global Hearing Aids Market - Focused Insights 2024-2029

Global Hearing Aids Market - Focused Insights 2024-2029

REPORT OVERVIEW

This report offers market size & forecast data for the global hearing aids market. The revenue generated from the sale of commercial hearing aids is included in the report. The procedural cost for hearing aids is excluded from the report's scope. This report provides a comprehensive and current market scenario of the global hearing aids market, including the global hearing aids market size, anticipated market forecast, relevant market segmentations, and industry trends.

The study considers a detailed scenario of the present global hearing aids market and its market dynamics for 2024−2029. It covers a detailedREPORT OVERVIEW of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

MARKET DEFINITION

A hearing aid is a small electronic device designed to improve hearing by making sound audible to a person with hearing loss. Hearing aids differ by design, technology used to achieve amplification (analog or digital), and features such as wireless connectivity and software applications.

KEY HIGHLIGHTS

• The global hearing aids market is expected to reach $8.55 billion by 2029, growing at a CAGR of 4.25%. The market growth can be attributed to the growing incidence/ prevalence of hearing disorders and the rising need for treating such disorders worldwide.
• By Product type, the global hearing aids market by behind-the-ear (BTE) hearing aids segment was valued at $4.64 billion in 2023 and is expected to reach $5.86 billion by 2029, growing at a CAGR of 3.97%. The global rise in the prevalence of hearing loss is a significant factor contributing to the growth of this segment. These are the most commonly used hearing aids compared to other available hearing aids in the market since they are robust, easy-to-use, and appropriate for all types of hearing loss.
• By Hearing Loss type, the sensorineural hearing loss segment was valued at $5.25 billion in 2023 and is expected to reach $6.83 billion by 2029, growing at a CAGR of 4.48%. The segment accounted for the largest share mainly due to the rising incidence of hearing loss, specifically sensorineural hearing loss, in the pediatric and adult population.
• By patient group, the global hearing aids market by the adult segment was valued at $4.92 billion in 2023 and is expected to reach $6.42 billion by 2029, growing at a CAGR of 4.53%. The segment is dominating the market due to the higher incidence and prevalence of hearing loss among the elderly population worldwide.
• Sonova, WS Audiology, Demant A/S, GN Store A/S, and Starkey Corp are some leading players currently dominating the global hearing aids market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the hearing aids market and access commercially launched products.

Vendors List

• Sonova
• WS Audiology
• Demant A/S
• GN Store A/S
• Starkey
• Century Hearing Aids
• Arphi Electronics
• Audina Hearing Instruments
• EarTechnic
• Eargo Hearing Aids
• ExSilent
• Horentek
• IN4 Technology
• InnerScope Hearing Technologies
• Intricon
• Loreca Hearing Aids
• NewSound Hearing Aids
• RION Co., Ltd.
• SeboTek Heraing Aids
• ZOUNDS Hearing
• Cochlear Ltd
• Nurotron Biotech
• MED-EL
• Rexton Hearing Aids
• BHM-Tech
• Earlens

REPORT HIGHLIGHTS

PRODUCT SEGMENTATION & FORECAST

• Product type

Behind-the-Ear

In-the-Ear

• Hearing Loss type

Sensorineural Hearing Loss

Conductive Hearing Loss

Mixed Hearing Loss

• Age group

Adults

Pediatrics

• Technology type

Digital Hearing Aids

Analog Hearing Aids

• Distribution Channel

Retailers

Independent Practices

Buying Groups

Government Purchases

MARKET STRUCTURE

• Market Dynamics
• Competitive Landscape of Hearing Aids Market
• Key Vendors
• Other Prominent Vendors

APPENDIX

• Research Methodology
• Abbreviations
• About Arizton