Owing to benefits such as improved quality of life, improved hearing capability, and convenience in use, the global adult hearing aids market is expected to record significant growth during the forecast period 2021-2031. Adult hearing aids are medical devices that help people with hearing loss to better understand conversations and other sounds of their surroundings. These devices amplify sound close to the ear so that people with hearing impairments can listen more easily.
The need for specialized audiologists and other healthcare professionals to properly fit the hearing aids is a major challenge. The lack of this specialized personnel in certain countries in the Asia Pacific and Africa may restrict the demand for adult hearing aids in the region over the forecast period. Several manufacturers are also focusing on launching technologically advanced products with features such as long battery life and wireless streaming capabilities, which are expected to potentially drive the demand for adult hearing aids during the forecast period.
Rapid applications of advanced technologies such as digital sound processing, artificial intelligence (AI), and Bluetooth-enabled hearing aids are expected to drive the adult hearing aids market during the forecast period. In addition, an increase in government initiatives to boost awareness about hearing loss and its associated solutions is likely to further propel the growth of the adult hearing aid market globally. The market consistently undergoes a series of developments in order to provide better services.
Advantages such as improved sound quality increased portability, and user-friendly customization is expected to drive the growth of the adult hearing aid market. Additionally, technological advancements like wireless personal area networks, Bluetooth connectivity, and artificial intelligence-enabled hearing aids are expected to positively influence market growth in the forecast period.
Considering these factors, it is reasonable to say that the adult hearing aids market is growing at an appreciable compound annual growth rate (CAGR) of 5.9%. It is expected that the market might acquire a size of USD 11.7 billion during the period of forecast, that is, 2021-31.
Adult hearing aids are electronic devices that are designed to amplify sound for those who have difficulty hearing. These devices may be worn in or behind the ear and use a microphone, amplifier, and speaker to increase the volume of sounds entering the ear. Adult hearing aids may also feature digital signal processing (DSP) technology to improve sound quality. This technology can help reduce background noise, enhance speech clarity, and better manage the overall volume of sound entering the ear.
The rising prevalence of congenital and age-related hearing impairment has propelled the demand for advanced adult hearing aids. In addition, technological advancements have enabled manufacturers to introduce innovative features such as Bluetooth connection and water resistance into adult hearing aids. This has further expanded their scope of application and increased their usage among adults suffering from varying degrees of deafness. The increasing availability of customized products specifically designed for different types of impairment has also contributed significantly towards market growth over the forecast period 2021-31.
However, the high cost of these devices is likely to dampen their adoption among certain sections of customers in developing regions, thereby hampering the growth of the global adult hearing aids market. Moreover, a dearth of skilled professionals may also impede the growth of the global adult hearing aids market over the forecast period 2021-2031.
The key companies in the global Adult Hearing Aids market are Sonova, Widex, Starkey, GN Hearing, William Demant Holding, Unitron Hearing Ltd., SeboTek Hearing Systems LLC, Audina Hearing Instruments Inc., Sivantos Pte. Ltd., and RION Co. Ltd. Manufacturers have been introducing innovative products to meet the needs of different age groups and lifestyles. The key players have also been focusing on collaborations with other companies in order to gain a competitive advantage in the market.
Behind The Ear (BTE) Segment to Remain the Most Lucrative Segment
On the basis of type, the Adult Hearing Aids market has been segmented into Behind The Ear (BTE), In The Ear (ITE), Receiver In Canal (RIC), and Canal Hearing Aid. Among these, the Behind The Ear (BTE) segment is expected to dominate the global Adult Hearing Aids market in terms of revenue throughout the forecast period. The high efficacy of these devices and low cost are major factors responsible for the growth of the Behind The Ear (BTE) segment.
Homecare to Continue its Dominance over the Forecast Period On the basis of application, the Adult Hearing Aids market has been categorized into homecare, hospital, and clinics. The homecare segment is expected to register significant growth in terms of revenue during the forecast period owing to the growing demand for self-care devices and the rising elderly population.
North America is Expected to Render Ample Investment Avenues
On the basis of region, the Adult Hearing Aids market has been segmented into North America, Europe, Asia-Pacific, Middle East Africa, and Latin America. North America is expected to dominate the global Adult Hearing Aids market in terms of revenue. This can be attributed to the increasing elderly population, rising awareness about hearing aid devices, and the availability of technologically advanced systems in this region.
Covid-19 Impact and Market Status
The outbreak of the COVID-19 pandemic has had a significant impact on the global Adult Hearing Aids market. The market is expected to witness a decline in demand for Adult Hearing Aids during the forecast period. This can be attributed to the temporary closure of hearing aid manufacturing units and retail outlets, and the slowdown in economic activity across regions. In addition, the restrictions on international travel have hampered the supply of hearing aids from manufacturers based in other countries. The Asia Pacific region is expected to be the most affected by the COVID-19 pandemic, due to the high number of confirmed cases and deaths in countries such as China, Japan, and South Korea. The European market is also expected to witness a significant decline in demand for Adult Hearing Aids, due to the outbreak of COVID-19 in major economies such as Italy, Spain, and Germany. The North American market is expected to see a moderate impact from the pandemic, as many of the key players in the Adult Hearing Aids market are based in this region. The market is expected to recover gradually in the post-pandemic period.
Latest Innovations in the Global Adult Hearing Aids Market: a Snapshot
• Sonova launched Acuris Pro – its first custom-made wireless hearing aid for adults in 2020.
• Similarly, Widex also introduced its Evoke Fusion 2 platform which uses artificial intelligence (AI) to automatically adjust volume settings according to sound environments in 2020.
• Sonova collaborated with Google LLC in 2019 to develop a range of Made-for-Google hearing aids.
• Similarly, William Demant Holding partnered with Apple to introduce a new range of hearing aids that are compatible with iPhones and iPads in 2020.
Adult Hearing Aids Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2031||USD 11.7 billion|
|Growth Rate||CAGR of 5.9 % during 2021-2031|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Sonova, Widex, Starkey, GN Hearing, William Demant Holding, Unitron Hearing Ltd., SeboTek Hearing Systems LLC, Audina Hearing Instruments Inc., Sivantos Pte. Ltd., and RION Co. Ltd. Manufacturers|
Key Segments of the Adult Hearing Aids Market
By Type Overview, 2021-2031 (USD Billion)
• Behind-the-Ear (BTE) Hearing Aids
• In-the-Ear (ITE) Hearing Aids
• In-The-Canal (ITC) Hearing Aids
• Completely-In-Canal (CIC) Hearing Aids
By Application Overview, 2021-2031 (USD Billion)
• Congenital Hearing Loss
• Age-Related Hearing Loss
• Acquired Trauma Hearing Loss
By Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa