Audiology Devices Market is anticipated to demonstrate growth through 2032, primarily due to growing awareness of the available treatment options. Besides, various public organizations and key industry players are facilitating initiatives to promote awareness about hearing loss and the use of hearing aids, which will also benefit the market in the foreseeable future.
Additionally, the growing investments in R&D, new product launches, mergers, acquisitions, and partnerships by leading providers in the audiology devices market will also strengthen their presence in the marketplace. For instance, in 2020, EarTechnic announced using Energous Corporation’s WattUp to charge its upcoming hearing device, Tie-X, wirelessly.
Overall, the audiology devices industry is segmented in terms of product, patient, hearing loss, and region.
Based on product, the hearing aids segment is slated to grow considerably through 2032. This can be credited to the rising prevalence of hearing impairment, increasing inclination regarding available treatment options for managing deafness and hearing impairment, and mounting adoption of hearing aids worldwide. As per WHO, more than 1.5 million people suffer from hearing loss worldwide.
In terms of the patient, the pediatric segment is slated to record considerable revenue through 2032. The growth can be attributed to the rising incidences of hearing loss among children and the easy availability of specialized hearing aids for pediatrics. According to reports, hearing loss is one of the most common issues among various pediatric disorders. Across the globe, approximately 1.9% of children face trouble hearing, and nearly 1 out of every 1,000 children suffers from permanent hearing loss.
On the basis of hearing loss, the mixed hearing loss segment accounted for more than USD 846 million in 2022. The rising prevalence of conductive and sensorineural hearing loss is expected to play a key role in assisting the segmental growth. Besides, the increasing geriatric population base, coupled with the availability of certain hearing aids, will bolster the industry progression in the near future. According to credible reports, SNHL impacts 5–27 per 100,000 Americans each year. Besides, around 66,000 new sensorineural hearing loss cases are registered every year as well.
Regionally, the Asia Pacific audiology devices market is expected to grow significantly during 2023–2032. The regional market growth can be attributed to ongoing technological breakthroughs, rising awareness of hearing impairment, and easy access to affordable treatments. According to the WHO estimates, 666 million people across the South-East Asia will suffer from some degree of hearing loss by 2050.