Hearing Aids Market | Global Markets

86 Pages | 23 Exhibits | 2019 Analysis | Forecasts Through 2023
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Valued at more than $7.7bn in 2018, the Global Hearing Aids Market is growing at a healthy pace—in the upper single-digits, at a compound annual growth rate (CAGR) of nearly 7.5%. Growth will be driven by the increasing global prevalence of hearing loss. According to the World Health Organization (WHO), approximately 466 million people have disabling hearing loss worldwide, including 34 million who are children, and this number is expected to grow to nearly 630 million by 2030.

Hearing aids have been around for decades; yet, it is a substantially underpenetrated market. A key to market growth is expanding access to those who do not have access or cannot afford hearing aids, in developing and developed markets alike, as well as technological improvements and marketing to younger patients.

Major limiters to growth include high expense/out-of-pocket pay, limited access in emerging markets, stigma, low compliance, technological limitations, inconvenience and requirement for multiple visits to the audiologist.

Overall growth of the hearing aids market will be driven by strong benefits (eg improved quality of life, social/mental health); lowered prices/online/mass retailer accessibility; and steadily improving hearing aid technology or innovations (eg artificial intelligence, improved speech/sound clarity, less interference, directional hearing technology, rechargeability, miniaturization/invisible hearing aid designs, etc.). Other market drivers include aggressive sales/marketing and education efforts, strong and growing retail/audiologist networks and audiology practice referrals targeting patients with all forms of hearing loss, and expanded access to more regulated/higher-quality yet lower-cost hearing aids (especially in the US market due to the new FDA OTC hearing aids law set to finalize by 2020).

This report provides the following useful information:

  • prevalence of hearing loss
  • hearing aid portfolios offered by leading manufacturers
  • new and emerging hearing aid technologies
  • key trends, drivers and limiters
  • market and competitive analysis (including 5-year market forecast, 2018 market share by region, and corporate growth strategies).


Markets covered by this analysis include the US, Japan, the five major EU markets (France, Germany, Italy, Spain, and the UK), and the Rest of World (RoW) markets, which include all other countries.

Table of Contents

Executive Summary 

i. Hearing loss prevalence 

ii. Hearing aid technology 

iii. Hearing aids market 

a. Market drivers and limiters

b. Competition - market leaders

iv. Methodology

v. Bibliography 


Exhibit ES-1: Hearing aids market forecast ($m), 2018-23


1. Overview of Hearing Loss and Hearing Aids

1.1 Ear anatomy and the hearing process

1.2 Prevalence

1.3 Types of hearing loss

1.4 Causes

1.5 Diagnosis and treatment

1.6 Hearing aid overview 

1.7 Bibliography


Exhibit 1-1: Human ear anatomy

Exhibit 1-2: Examples of hearing aid styles

Exhibit 1-3: Differences between hearing aids and cochlear implants

Exhibit 1-4: Otofonix's low cost APEX digital hearing amplifier


2. Hearing Aid Technology 

2.1 Hearing aid portfolios by major manufacturer

2.1.1 The GN Group/GN Store Nord A/S 

2.1.2 Sonova Group 

2.1.3 Starkey Hearing Technologies

2.1.4 William Demant Group 

2.1.5 WS Audiology A/S (previously Sivantos Group)

2.2 FDA Reauthorization Act of 2017 creates new category of OTC hearing aids

2.3 Direct-to-consumer/lower-cost hearing aids

2.3.1 Avento

2.3.2 Audicus

2.3.3 Eargo 

2.3.4 Miracle-Ear

2.3.5 Ovation Hearing 

2.4 Emerging technology 

2.4.1 Decibel Therapeutics 

2.4.2 Earlens Corp

2.4.3 Frequency Therapeutics

2.5 Bibliography 


Exhibit 2-1: Leading hearing aid brands, by manufacturer

Exhibit 2-2: The ReSound LiNX 3D and ReSound Smart 3D app

Exhibit 2-3: The new Phonak Audéo Marvel 

Exhibit 2-4: The 100% invisible Lync 

Exhibit 2-5: The Moxi All and Insera in-the-ear hearing aids

Exhibit 2-6: Starkey Hearing & Activity Tracking hearing aid 

Exhibit 2-7: Starkey Invisible-in-Canal Hearing Aid

Exhibit 2-8: The Zerena 9 miniRITE rechargeable hearing aid

Exhibit 2-9: Selected Opn hearing aids 

Exhibit 2-10: The new Kaizn Personal AI Assistant 

Exhibit 2-11: The new Signia Styletto Connect

Exhibit 2-12: The low-cost Audicus Clara 

Exhibit 2-13: The Eargo hearing aid 

Exhibit 2-14: Images of the cochlea and stereocilia

Exhibit 2-15: The Earlens hearing aid


3. Market Analysis

3.1 Hearing aids market

3.1.1 Market forecast: global

3.1.2 Market drivers and limiters 

3.1.3 Market forecast: by region 

3.1.4 US market 

3.1.5 Five major EU markets

3.1.6 Japanese market

3.1.7 Rest of the world market

3.2 Competitive analysis

3.2.1 Market share: global

3.2.2 Market share: by region

3.2.3 Hearing aid revenues: by geography 

3.3 Financials and corporate growth strategies 

3.3.1 The GN Group/GN Store Nord A/S 

3.3.2 Sonova Group 

3.3.3 William Demant Group 

3.3.4 WS Audiology (previously Sivantos Group) 

3.4 Bibliography 


Exhibit 3-1: Hearing aids market forecast ($m), 2018-23 

Exhibit 3-2: Hearing aids market, forecast sales by region ($m), 2018-23

Exhibit 3-3: Hearing aids market, global share by supplier ($m), 2018 

Exhibit 3-4: Hearing aids market, estimated share by supplier and region, 2018 

Exhibit 3-5: Manufacturers’ hearing aid revenues by geography, 2018 

Exhibit 3-6: The GN Group/GN Store Nord, revenues by segment, FY2018

Exhibit 3-7: Sonova, revenues by segment, FY2018

Exhibit 3-8: William Demant, revenues by segment, FY2018 


Appendix A: company listing

Companies Covered


Audina Hearing Instruments


Decibel Therapeutics



Frequency Therapeutics

GN Group/GN Stor Nord A/S

Horentek Hearing Diagnostics


Mimi Hearing Technologies





Ovation Hearing



Rion Co. Ltd.

SeboTek Hearing Systems

Sonova Group

Starkey Hearing Technologies

TruHearing, Inc.


William Demant Group

WS Audiology A/S (previously Sivantos Group)