U.S. Hearing Aids Market Size, Share & Industry Analysis, By Product (Hearing Devices {BTE, ITE, RIC, CIC, and Others} and Hearing Implants {Cochlear Implants and Bone Anchored Implants}), By Patient Type (Adult and Pediatric), By Severity (Mild, Moderate, and Severe & Profound), By Distribution Channel (OTC, Medical Channel, and Private Practices), and Country Forecast, 2024-2032

The U.S. hearing aids market size was valued at USD 4.46 billion in 2023. The market is projected to grow from USD 4.94 billion in 2024 to USD 11.54 billion by 2032, exhibiting a CAGR of 11.2% during the forecast period.

Hearing aids devices are designed to be worn behind or in the ear to enhance the auditory capacity of patients suffering from auditory loss. The market is witnessing significant growth due to a surge in patients suffering from auditory loss.

• In March 2021, the National Institute on Deafness and Other Communicable Disorders (NIDCD) published a study reporting roughly 10% of the U.S. adult population suffering from tinnitus and other auditory disorders. Moreover, nearly 25% of those over the age of 65 suffer from disabling hearing loss.

The growing focus on restoring listening capacity, technological advancements in the auditory loss industry, and favorable regulatory policies are the key factors augmenting the market's growth. Moreover, the increasing insurance coverage, coupled with new product launches by key players, would support market growth during the forecast period.

The COVID-19 impact on the global market was negative due to cancelled patient appointments for ENT procedures, resulting in reduced patient visits to hospitals, clinics, and other facilities. Major players operating in the market also witnessed a significant decline in their revenues for hearing devices owing to the supply chain disruption. However, the rising prevalence of hearing loss among the population in the U.S. and growing product approvals by market players are expected to fuel the U.S. hearing aids market size during the forecast period.

U.S. Hearing Aids Market Trends

Increasing Adoption of Technologically Advanced Devices in the U.S. to Augment Growth

Major players operating in the market are launching technologically advanced products for patients suffering from auditory loss resulting in the availability of several types of hearing aids in the market. The introduction of artificial intelligence is considered a significant revolution in the market. The advent of AI has helped the development of in-built smart services for patients, such as adaptive sound and active noise cancellation. Moreover, modern devices can incorporate various languages as per patient’s choice.

• In September 2023, Starkey Laboratories, Inc., one of the leading hearing device manufacturer in the U.S. launched its new hearing technology, Genesis AI. This teavhnology features a neuro processor that mimics the function of the central auditory system through a Deep Neural Network (DNN) on-chip accelerator, offering automatic functions.

 Many players are developing Bluetooth-enabled hearing aids with improved connectivity and design that are less noticeable. In addition, bluetooth devices offer several features such as music streaming, phone calls, and the ability to manage alerts from phones directly to the hearing devices. These advancements are anticipated to create a huge demand for technologically advanced devices in the near future.

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U.S. Hearing Aids Market Growth Factors

Rising Prevalence of Hearing Loss in the U.S. to Aid Market Growth

The growing prevalence of hearing loss among the adults and children in the country is one of the major factors contributing to the rising demand for hearing devices in the U.S. The rising demand for hearing devices along with the robust focus of the market players to develop and introduce new and novel products with advanced technology and features, has resulted in an increasing number of product approvals and launches in the country.

The increasing initiatives by companies and healthcare organizations to fuel awareness regarding the severity of hearing loss, available management options are supporting the growing demand and adoption of these devices in the U.S. They emphasize the benefits of these devices in improving the quality of living among the population.

• According to the 2022 statistics published from the National Health and Aging Trends study, approximately two-third of adults older than 71 years and above have hearing loss.

These devices are commonly used to manage auditory deficiency in adult and pediatric patients. Therefore, the increasing number of patients suffering from audiological disorders is anticipated to support the market growth during the forecast period.

Additionally, the increasing aging population in the U.S., which is susceptible to auditory loss, is likely to support market growth. According to the United Nations, the population aged 65 years and above in the U.S. is expected to reach 35 million in 2000 to 80 million in 2040, which is anticipated to create huge demand for these devices in the near future.

RESTRAINING FACTORS

High Cost and Lack of Favorable Reimbursement Policies to Affect Demand for Hearing Aids in the U.S. 

One of the major restraining factors of the market is the high cost of these products. Limited reimbursement of these devices by the insurance providers in the country is one of the major setbacks restricting the adoption of these devices among the population.

Hearing aids for children are usually covered by Medicaid whereas, the coverage for these devices for adults varies by state.

The majority of the population is dependent on out-of-pocket expenses for examination, devices, and related services, which further deters widespread use. Lack of favorable reimbursement policies is a key reason for the low adoption of these devices among patient population.

Moreover, the stigma linked with these devices or the challenges patients face in adjusting to them also contribute to their lower usage. The high cost seems to be the biggest restraint to the adoption of these devices among hearing loss patients.

U.S. Hearing Aids Market Segmentation Analysis

By Product Analysis

Hearing Devices Segment Dominated due to Increasing Adoption of Hearing Aids for Hearing Loss Management 

Based on product type, the market is segmented into hearing devices and hearing implants. The hearing devices segment is further segmented into behind the ear (BTE), in the ear (ITE), receiver in the canal (RIC), completely in the canal (CIC), and others (invisible in the canal). The hearing implants are further segmented into cochlear implants and bone-anchored implants.

The hearing devices segment accounted for the largest U.S. hearing aids market share in 2023. The largest share of this segment resulted from the rising adoption of these devices and the growing cases of auditory loss in the general population.

• The Kaiser Family Foundation in 2021 reported leading consumer brands such as APPLE and Bose would provide audio tests and customer service online from audiologists and other specialists along with devices sold. The growing demand for these devices is due to the 2017 legislation signed by the U.S. government to issue regulations by 2020. The rising demand supported by technological innovations by market players is anticipated to drive the growth of the hearing devices segment.


• According to 2023 statistics published by the Hearing Industries Association, commercial sales of hearing aids in the first three quarters of 2023 were around 6.8% compared to the previous quarter in 2022. Additionally, there was an increase of nearly 5.6% in the sales of hearing devices in the U.S. Department of Veterans Affairs (VA) through the first three quarters of 2023.

Also, the free or low-cost health care benefits offered by the U.S. Department of Veterans Affairs (VA) are responsible for driving the adoption of these devices among veterans in the U.S.

The hearing implants segment is further separated into cochlear implants and bone-anchored implants. The strong growth of the segment is attributed to the rising cases of complete auditory loss among the elderly population in the U.S. This trend is increasing demand for cochlear implantations to treat complete auditory loss and driving the segment's growth in the market.

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By Patient Type Analysis

Rising Geriatric Population to Help the Adult Segment Dominate the Market.

Based on patient type, the U.S. market is bifurcated into adult and pediatric. 

The adult segment is anticipated to dominate the market in terms of share during the forecast period. The growing geriatric population in the country and the increasing awareness about various devices for treatment of auditory disability available in the market are likely to contribute to the segment’s dominance.

• According to the National Institute of Deafness and Other Communication Disorders (NIDCD), approximately 28.8 million U.S. geriatric adults could benefit from hearing aids. In addition, as per the study, more than 56.4 million American citizens were aged 65 and above during the period.

The U.S. hearing aids market growth is attributed to the increasing geriatric population and is expected to support the adoption of these devices to manage auditory loss caused by aging.

The pediatric segment is anticipated to hold a significant market share during the forecast period owing to the increasing emphasis on screening tests of infants, which is responsible for the early detection and treatment of auditory impairment. In addition, various studies have shown that the early ear implantations restore auditory defects and is positively associated with earlier open-set ability and oral communications. Thus, the penetration of these devices is growing among children, which is likely to foster the growth of the pediatrics segment.

By Severity Analysis

Rising Adoption of Hearing Devices Among the Population with Severe & Profound Hearing Loss Led the Dominance of the Segment

Based on severity, the market is segmented into mild, moderate, and severe & profound.

The severe & profound segment dominated the market in 2023. The rising prevalence of severe hearing loss and impairment among the population in the U.S. is one of the major factors driving the demand for these devices in the country. The growing focus of the major players to develop and introduce products with advanced technology to cater to the rising demand is expected to fuel the segmental growth.

• According to 2024 statistics published by the National Council on Aging (NCOA), approximately 11 million people in the U.S. have profound or complete hearing loss.

The moderate segment is expected to grow at a considerable growth rate during the forecast period. The increasing population suffering from mild hearing loss along with growing number of products introduced for the management of mild hearing loss by market players are some of the major factors contributing to the segment growth.

The mild segment is expected to grow at a steady CAGR during the forecast period. The limited penetration of hearing devices among the population suffering from mild hearing loss is one of the major factors responsible for the slower growth of the segment. According to 2023 statistics published by the National Council on Aging (NCOA), approximately 4% of the population with mild hearing loss use hearing aids in the U.S.

By Distribution Channel Analysis

Increasing Patient Visits to Medical Facilities for the ENT Procedures in the Country Led to the Dominance of Medical Channel Segment

Based on distribution channel, the market is segmented into OTC, medical channel, and private practices.

The medical channel segment dominated the market in 2023. The dominance is due to the rising number of patient visits to the healthcare facilities including hospitals, and others for the hearing loss testing and aids fitting in the country. Additionally, the increasing number of hearing device units sold by the veteran affairs is another major factor contributing to the growth of the segment.

• According to the 2024 statistics published by the Veteran Affairs, the number of hearing aid units sold in April 2024 was around 82,562 witnessing a growth of approximately 4.7% as compared to the units sold in October 2023.

The private practices segment held the second dominant share in the market. The growing number of audiology clinics, stores, in the country dispensing hearing devices to cater to the rising demand among the population is one of the significant factors attributing to the growing share of the segment.

The OTC segment is expected to grow at a nominal CAGR during the forecast period. The growing focus of the regulatory body to approve and introduce OTC products in the market to increase the adoption of these hearing devices in the country is a major factor supporting the growth of the segment.

• In October 2022, the U.S. FDA approved commercialization of the OTC hearing aids, a new category of products directly to consumers without a prescription.  

KEY INDUSTRY PLAYERS

Diverse Portfolio of Sonova and Demant A/S to Dominate the U.S. Market

The competitive landscape of the market represents the existence of established and emerging players. In the U.S. market, Sonova and Demant A/S led the market in 2023, collectively accounting for a dominant revenue share.

Sonova dominated the market due to its comprehensive portfolio of products, which comprises technologically advanced devices for many people with listening disabilities. In January 2021, Sonova announced the Naida Marvel, an innovative addition to the Phonak product portfolio. The device is fully-connected and delivers rich sound to the user. The device can connect to any Bluetooth device such as smartphones, TV, and tablets.

On the other hand, Demant A/S is projected to be the second-largest company in terms of the revenue share due to its strong presence in the U.S. and the robust portfolio of cochlear implants.

Other companies, such as GN Store Nord A/S, Cochlear Ltd, WS Audiology, and Starkey, held significant market shares due to their product offerings in the hearing devices segment. In August 2021, GN Store Nord A/S launched a breakthrough product, ReSound One, which includes an additional ear canal microphone. The product is the first of its kind, having a microphone and receiving-in-ear design (M&RIE) that collects sounds and enhances user experience. Furthermore, ongoing R&D initiatives due to the strong investment activities are expected to lead to the entry of new players in the market during the forecast period.

LIST OF TOP HEARING AIDS COMPANIES IN U.S./ LIST OF TOP HEARING AIDS COMPANIES:

• Sonova (Switzerland)


• Demant A/S (Denmark)


• GN Store Nord A/S (Denmark)


• Cochlear Ltd (Australia)


• WS Audiology (Denmark)


• RION Co., Ltd. (Japan)


• Starkey (U.S.)


• MED-EL (Medical Electronics) (Austria)

KEY INDUSTRY DEVELOPMENTS:

• May 2024 – Sonova announced an FDA cleared self-replacement option for Phonak Lyric hearing device. This will help the certified Lyric providers in the U.S. to offer experienced wearers the ability to replace their Lyric devices independently, further enhancing accessibility and reducing in-office visits.


• May 2024 - GN Store Nord A/S launched ReSound Nexia hearing aid portfolio in the U.S. for the U.S. veterans through audiologists, and technicians of the Department of Veteran Affairs at more than 400 VA audiology clinics and sites of care in the country.


• June 2023 – Sonova launched two new hearing aids, namely All-Day Clear and All-Day Slim in the U.S. The product is powered by Sonova technology, which features intelligent scene detection that monitors the person’s environment for seamless optimization of dialogue among patients.


• April 2021 – GN Nord A/S launched ReSound Assist Live in conjugation with ReSound hearing aids. This launch will allow healthcare professionals to provide remote services to fit and test new devices. The development helps the company strengthen its product portfolio and establish its market presence.


• January 2021 – W/S audiology launched the Signia Active Pro earbud-style devices that offer high-tech audiological benefits. The new product offers Bluetooth connectivity and receiving phone calls, among other features coherent with regular earbuds. The development will improve the adoption of the product due to its ease of use and utility.

REPORT COVERAGE

The research report provides a detailed analysis of the industry. It focuses on key aspects such as leading companies, products, and age. Besides this, it offers insights into the U.S. hearing aids market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation