Global Digital Hearing Aids Market Research Report: Forecast (2023-2028)

Market Definition

A hearing aid is a small battery-operated device that helps improve the hearing abilities of patients with hearing loss. It consists of an amplifier, microphone, & speaker, which aid in amplifying the sound vibrations entering the ear and converting them into neural signals passed into the brain. Extensively available in numerous designs, these devices can be well-customized according to individual requirements.

Global Digital Hearing Aids Market (2023-28): Market Insights & Projections

The Global Digital Hearing Aids Market projected to grow at a CAGR of around 5.2% during the forecast period, i.e., 2023-28. The market's growth is likely driven mainly by the rapidly increasing incidence of hearing impairments due to the growing geriatric population worldwide, coupled with significant advancements in hearing aid technology over the years. Besides, substantial R&D investments by prominent companies in developing advanced hearing aid with better sound quality, improved performance & efficiency, & wireless connectivity, alongside AI integration and rechargeable batteries, are also creating profitable prospects for the market in the coming years.

The advent of innovative products equipped with both cochlear implants & hearing aid technologies to overcome high-frequency hearing loss is also boding well for the growth of the digital hearing aids market.

Moreover, aspects like chronic inflammation, vascular disorder, excessive noise exposure, genetic susceptibility, & physiological aging of the ear that may result in hearing impairments among people shall also promote the market expansion over the coming years. Furthermore, the increasing cases of birth complications & ear infections worldwide and the integration of smart technologies into these devices also indicate remunerative opportunities for the global digital hearing aids market over the coming years.

Global Digital Hearing Aids Market Drivers:  Increasing Prevalence of Hearing Loss Due to Upscaling Noise Pollution Worldwide

The globally increasing noise pollution levels are leading people to lose their optimum hearing capabilities. For instance, according to WHO, over 1.5 billion people, nearly 1/5th of the global population, live with hearing loss; 430 million have disabling hearing loss. There could be over 700 million people with disabling hearing loss by 2050. Citing the anticipated dramatic increase in the number of hearing loss patients, the demand for hearing aids is likely to surge in the coming years, fueling market growth.

Global Digital Hearing Aids Market Trends:

Integration of Digital Hearing Aids with Smartphones - Unlike conventional products, digital hearing aids offer enhanced sound quality due to selective amplification of sound, reduced feedback, comfortable listening experience, and automated adaptation to different listening situations without manually adjusting the volume.  Most of today's digital hearing aid devices have smartphone integration, allowing individuals to make volume adjustments, monitor battery life, and contact their healthcare provider. While some can convert speech into text & translate different languages, the more advanced ones can even act like assistive listening devices by routing phone calls or other sound sources directly to the device and have tinnitus masking features. With rigorous R&D, they are becoming more automatic & innovative to help individuals communicate in challenging listening environments, resulting in broader adoption of such products, making the market proliferate in the coming years.

Global Digital Hearing Aids Market (2023-28): Segmentation Analysis

The Global Digital Hearing Aids Market study from MarkNtel Advisors analyses the major trends in each sub-segment and includes predictions for the period 2023–2028 at the global, regional, and country levels. The market has been segmented in our analysis based on product, type of hearing loss and patient type.

Based on Product:

Hearing Aid Devices

• Receiver-in-the-Ear (RITE)
• Behind-the-Ear (BTE)
• In-the-Canal (ITC)
• In-the-Ear (ITE)
• Others

Hearing Implants

• Cochlear
• Bone-Conduction

Among other hearing aid devices, Behind-the-Ear (BTE) hearing aid devices hold the largest share in the Global Digital Hearing Aids Market, as they are readily available, easy to replace, & inexpensive, and offer better connectivity. They have more amplification power than their counterparts, are equipped with a directional microphone that enhances their efficiency, and are suitable for people of all age groups & any hearing impairment.

Moreover, with extensive availability in various sizes, high efficiency, & easy operation, more & more users prefer BTE hearing aids. Massive investments by the leading manufacturers in introducing advanced features to their product offerings are also contributing notably to the market growth.

For instance:

In November 2021, Widex A/S (now WS Audiology) announced the launch of its first-ever rechargeable BTE hearing aids, Widex MOMENT BTE R D, which features PureSound™, LED indicator, telecoil, and direct streaming to iPhone & Android. On a single charge, it can run for up to 37 hours and 24 hours in total when used for roughly 8 hours of streaming.

Likewise, on 13th October 2021, Unitron extended its Blu line of hearing devices by announcing the launch of its Stride™ Blu BTE (Behind-The-Ear) hearing aids to enhance the wearers' listening experience. The two new form factors— Stride B-PR & Stride B-UP BTE, provide easy personalization & performance and have a smaller & sleeker design than previous devices. The Stride B-PR is rechargeable and offers tap control & a full day of listening on a single charge. It allows wearers to remain engaged in their daily activities without having to recharge the device. On the other hand, Stride B-UP, with an easy-to-find multi-function button for easier control, is the company’s first Ultra Power device to offer 'Made-for-All' direct connectivity.

Based on Type of Hearing Loss:

• Sensorineural
• Conductive
• Mixed

Here, SNHL (Sensorineural Hearing Loss) accounts for the majority share in the Global Digital Hearing Aids Market. It occurs when the inner ear, the cochlea in the inner ear, or the nerve pathways between the ear & the brain get damaged, generally by exposure to loud noises, genetic factors, or the natural aging process. The rapidly rising geriatric population, i.e., highly prone to hearing loss, is the prime factor driving the demand for digital hearing aids to help patients overcome mild-to-moderate SNHL for both ears. With the mounting prevalence of hearing loss in the US, where around 4,000 cases of acute SNHL get diagnosed each year, the demand for digital hearing aids for treating either unilateral or bilateral SNHL is projected to rise significantly in the coming years.

Global Digital Hearing Aids Market (2023-28): Regional Analysis

Geographically, the Global Digital Hearing Aids Market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Europe is projected to attain a significant share of the Digital Hearing Aids Market through 2028. It owes to the mounting prevalence of auditory loss, immense government support & increased investments toward bringing technological advancements to hearing aid devices, and the rising geriatric population levels across the region. In Europe, Germany is the leading market for digital hearing aids, with numerous qualified healthcare professionals and the extensive presence of prominent manufacturers across the country. The active participation of these players in implementing innovative hearing aid products, which are being adopted widely by audiologists, ENT specialists, and hearing care specialists, is another prominent aspect expected to contribute to the regional market expansion over the forecast years.

Gain a Competitive Edge with Markntel Advisors’ Global Digital Hearing Aids Market Report

• Global Digital Hearing Aids Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
• This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
• Global Digital Hearing Aids Market report aids in assessing and mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.