Global Smart Hearing Aids Market Trends, Forecast Report 2025-2037
Smart Hearing Aids Market size is set to grow from USD 11.78 billion to USD 34.43 billion, reflecting a CAGR of around 8.6% during the forecast period, between 2025 and 2037. In the year 2025, the industry size of smart hearing aids is evaluated at USD 13.46 billion.
The growth of smart hearing aids market is primarily attributed to the increasing prevalence of hearing loss globally and technological advancements in hearing aid devices. According to the World Health Organization (WHO) by 2050 nearly 2.5 billion people are projected to have some degree of hearing loss and at least 700 million will require hearing rehabilitation. The overall sales of advanced hearing aids, including smart hearing aids have significantly increased in recent years. According to statistics by the Observatory of Economic Complexity (OEC), the total trade of hearing aids in 2022 was USD 6.4 billion. Here is a list of top exporters of hearing products in 2022.
Top Exporters of Hearing Aids in 2022
|
Country |
Export Revenue |
|
Poland |
USD 1.3 billion |
|
Vietnam |
USD 637 million |
|
Netherlands |
USD 577 million |
|
China |
USD 557 million |
|
United States |
USD 544 million |
Smart Hearing Aids Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing geriatric population with significant hearing disability: The elderly population across the globe has been steadily rising and by 2030, 1 in 6 people in the world will be aged 60 years or over. This has resulted in increasing concerns about hearing loss and disabilities. According to WHO, approximately 30% of people above 60 years of age have hearing loss. To cater to this issue several key players are heavily investing in developing advanced hearing aids with enhanced sound quality, rechargeable batteries, and integration with smart devices. For instance, in August 2024, Sonova announced its plans to introduce its first hearing aid with real-time AI addressing needs in hearing loss.
- Growing preference for personalized hearing solutions: The steady shift towards personalized hearing aids and devices is significantly reshaping the hearing aids market. Companies are offering custom-molded hearing aids with enhanced comfort and personalized designs. These personalized solutions ensure minimal disruption to user's routines and integrate seamlessly with modern lifestyles.
Challenges
- Stigma associated with hearing loss and hearing aids in many parts of the globe: People in many parts of the globe perceive wearing hearing aids as a sign of aging or disability, discouraging them from seeking assistance. This stigma along with limited awareness of the benefits of smart hearing aids in remote areas may affect the overall adoption of these devices, affecting market growth going ahead.
- Regulatory issues and rising market competition: Different regions have varying regulations, creating challenges for global companies attempting to standardize product offerings. This can hamper the overall sales of smart hearing aids. Moreover, the introduction of OTC hearing aids has increased competition and may put pricing pressure on premium hearing aids from established manufacturers.
Smart Hearing Aids Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
8.6% |
|
Base Year Market Size (2024) |
USD 11.78 billion |
|
Forecast Year Market Size (2037) |
USD 34.43 billion |
|
Regional Scope |
|
Smart Hearing Aids Segmentation
Product Type (In the Ear Hearing Aids, Receiver in the Ear Hearing Aids, Behind the Ear Hearing Aids, Canal Hearing Aids)
Based on product type, the canal hearing aids segment in the smart hearing aids market is likely to register rapid revenue growth during the forecast period. Canal hearing aids are gaining popularity due to their discreet design, comfortable fit, and natural sound experiences. Key players are focused on incorporating advanced features in the canal hearing aids. For example, in September 2024, Nano Hearing Aids announced the launch of the Completely in Canal (CIC) hearing aids, the smallest CIC hearing aid with auto-on with power on delay and improved push-button replacement.
Type of Hearing Loss (Sensorineural hearing loss, Conductive hearing loss)
The sensorineural hearing loss segment is attributed to garner the highest revenue share by 2037 owing to the increasing geriatric population across the globe. According to the data published by the National Library of Medicine in August 2023, the incidence of sensorineural hearing loss (SNHL) is rapidly increasing, affecting 5-27 per 100,000 people in the U.S. every year. Companies in the market are heavily investing in developing advanced solutions to cater to the rising demand. For instance, GN Hearing, a global leader in hearing aid innovation announced the launch of ReSound OMNIA, a novel hearing aid platform that provides better hearing in noisy environments.
Our in-depth analysis of the global smart hearing aids market includes the following segments:
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Product Type |
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Type of Hearing Loss |
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Patient Type |
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Technology Type |
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Customize this ReportSmart Hearing Aids Industry - Regional Synopsis
North America Market Statistics
The smart hearing aids market in North America is predicted to account for the largest revenue share of 39% by the end of 2037 owing to high incidence rate of hearing loss, particularly among the aging population, and the increased adoption of hearing aids. Leading companies in North America are focused on developing hearing aids with Bluetooth connectivity, AI integration, and rechargeable batteries to provide superior sound quality and personalized experiences. This is also expected to boost the sales of smart hearing aids in this country. In addition, the governments organize regular public health campaigns emphasizing the benefits of hearing aids.
In the U.S., the adoption of smart hearing aids has significantly increased in recent years due to the rising prevalence of hearing loss among the population. According to recent statistics by the National Institute on Deafness and Other Communication Disorders (NIDCD) around 15% of adults in the U.S and 1 in 3 people between the age of 65 and 74 suffer from hearing loss. Moreover, rising availability of reimbursement support and veteran programs and increasing investments in R&D activities are expected to drive the market in the country.
Asia Pacific Market
The market in Asia Pacific has witnessed significant expansion over recent years owing to rising incidence of hearing loss and large aging population in countries such as Japan, China, and India. According to WHO, Asia Pacific accounts for a substantial portion of the global population affected by hearing impairments. Rising disposable income, economic development, and better access to advanced medical devices, including hearing aids are expected to fuel market growth in the region.
The market in India is expected to register significant revenue growth between 2025 and 2037 owing to large patient base and rapid adoption of advanced hearing aids. Several global players are expanding their presence in India. For instance, in October 2024, Hearzap announced the launch of its latest hearing aid, Philips HearLink 50 miniRITE in India. The product aims to revolutionize the industry with affordable and effortless hearing aids. The Philips HearLink 50 miniRITE is equipped with AI-powered SoundMap technology that helps filter out background noise, highlights speech, and adapts to various environments.
Companies Dominating the Smart Hearing Aids Landscape
- MED-EL Elektromedizinische Geräte GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Benson Medical Instruments
- Sivantos private ltd.
- William Demat Holding A/S
- Sonova Holding AG
- GN store Nord A/S
- Starkey Laboratories, Inc.
- Medtronic plc
- Widex USA. Inc.
- Sonic Corporation
The global smart hearing aids market is highly competitive, driven by continuous technological advancements and product launches to cater to the rising prevalence of hearing loss. Several companies are integrating advanced technologies such as Bluetooth, AI-based sound processing, and health monitoring features into their devices. Leading market giants are focused on enhancing their market position and product base with several strategies such as mergers and acquisitions, joint ventures, product launches, and partnerships. Here is a list of key players operating in the global market:
In the News
- In September 2024, Phonak launched the Phonak Infinio hearing aid portfolio that offers unparalleled connectivity and hearing performance. This latest series comes with latest technologies including Adaptive Phonak Digital 3.0, AutoSense OS 6.0, and ERA Chip.
Author Credits: Radhika Pawar
- Report ID: 597
- Published Date: Jan 29, 2025
- Report Format: PDF, PPT
