Hearing Aid Market: Valuations are Poised for a Rebound

Published on 15 Jan, 2024

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Hearing loss is a major health concern globally, with over 1.5 billion people experiencing some degree of hearing impairment at the end of 2022 according to Amplifon. Among them, an estimated 430 million individuals require rehabilitation, and this figure is projected to reach 700 million by 2050 due to factors such as increased life expectancy and high noise exposure. Untreated hearing loss poses substantial health risks contributing to cognitive decline, depression and falls. This issue carries a staggering global annual cost of approximately 1 trillion US dollars, including health sector spending, lost productivity and associated social costs. Despite these implications, the adoption rate of hearing aids remains low, standing at around 37% in high-income countries and between 5% and 10% in emerging economies. 

The post-lockdown period in 2021 witnessed a surge in ENT clinic visits, coinciding with a recovery in surgical rates and increased demand for hearing implants. The adoption of smart hearing aids has increased considerably, propelled by factors like rising noise-induced hearing loss, heightened awareness and targeted marketing programmes. The integration of digital technology is dynamically shaping the hearing aid market by responding to demographic shifts and technological advancements, and launching innovative products combining cochlear implants and hearing aid technologies. These developments, coupled with attractive valuations, present profitable opportunities for industry participants.