Press Release

Middle East Hearing Aid Market to Reach USD10.73 Billion & Record a CAGR of 5.87% During 2024-30

The Middle East Hearing Aid Market size was valued at USD 7.2 billion in 2023 & is expected to reach USD 10.73 billion by 2030. Along with this, the market is expected to grow at a CAGR of 5.87% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The soaring cases of loss of hearing have notably boosted the growth of the Middle East Hearing Aid Market. This surge can majorly be attributed to the amalgamation of genetic factors with environmental factors. In addition, the experience of loud noises and side effects of certain medications have contributed to the cases of hearing loss in the region. Genetic factors make the Middle Eastern population more predisposed to hearing loss apart from other factors that contribute to it and thus increase demand for hearing aids. Thus, addressing hearing loss becomes a critical matter, which has been accelerating the market expansion.

Apart from that, enhanced and advanced medical infrastructure in the Middle East region has been attracting a growing count of tourists for medical purposes, thus serving as another lift for the Hearing Aid Market. Furthermore, the UAE had the fastest-growing market in terms of medical tourism, followed by South Africa and Egypt. Factors such as reduced healthcare costs, decreased travel expenses, technological advancements, and ease of access have played pivotal roles in this growth. The region's strategic central location also minimizes travel time from both the East and West, increasing the influx of medical tourists, including those seeking treatment for hearing issues, thereby elevating the demand for hearing aids.

Moreover, companies in the Middle East are enhancing patient care by improving the quality and provision of hearing aids. They are leveraging specialized scanning and 3D printing technologies to offer custom-made devices tailored to each patient's needs. This personalized approach is expected to enhance service quality and patient satisfaction, driving the growth of the market in the forecast years, further states the research report, “The Middle East Hearing Aid Market Analysis, 2024.”

The Middle East Hearing Aid Market Segmentation Analysis

Behind-the-ear Hearing Aids Segment to Lead Market

Based on the product segment, the market is further bifurcated into Hearing Aid Devices and Hearing Implants. Due to the increasing elderly population in the Middle East and the user-friendly nature of the devices, the Behind-the-Ear Hearing Aids segment has the majority grasp of the Middle East Hearing Aid Market. As a result of the trend of aging populations, there are heightened levels of hearing loss in the region, increasing demand for BTE due to its extreme simplicity in use and very great sound quality.

Since the amplification power is robust and user-friendly for the user, it is a preferred device amongst patients in countries like Saudi Arabia, the UAE, and Egypt. Recent findings in the design and features of BTE hearing aids have further added value and desirability to hearing devices.

The UAE to Dominate The Middle East Hearing Aid Market Growth

Geographically, the UAE has been able to capture a decent share of the Middle East Hearing Aid Market. This has been due to the increasing healthcare infrastructure in the country, which has resulted in growing demand for advanced medical devices, such as hearing aids. Also, there have been large-scale initiatives taken to improve the medical infrastructure in the country leading to the growth of hearing aids in the nation. Moreover, the existence of numerous retail pharmacy players in the market, who also sell hearing aid devices, makes them more accessible to patients.

The UAE government has been quite helpful in conducting awareness programs such as the Hearing Loss Awareness Campaign and Healthy Hearing. Due to this increased awareness, the demand for hearing aids in the UAE is expected to be more compared to other regional countries. Hence, continuous awareness and emphasis on healthcare improvement are most likely to enhance the UAE Hearing Aid Market share during the next few years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Starkey, Widex, Sonova, Sivantos, GN Store Nord, Cochlear Limited, Benson Hearing., Phonak, William Demant, ReSound, and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
2. What are the market trends influencing the current scenario of the Middle East Hearing Aid Market?
3. What key factors would propel and impede the industry across the various countries?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across the various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?