Throughout the forecast period, it is anticipated that the prevalence of hearing issues such as ear infections, hearing loss, and others will rise. One of the key reasons driving the growth of the global hearing aids market is the increasing technical improvements in hearing aid devices. For instance, Widex USA Inc., a provider of hearing solutions, introduced My Sound in June 2021. My Sound is an artificial intelligence (AI)-based system that enables user-driven sound customisation. Widex users' cloud-based user data is used by AI technology to generate accurate profile recommendations based on the person's current activities.
Global Hearing Aids Market is estimated to be valued at US$ 10,107.8 million in 2022 and is expected to exhibit a CAGR of 6.9 % during the forecast period (2022-2030).
Prominent Players in the Hearing Aids Industry:
1. Sonova
Sonova Holding AG designs, develops, manufactures, and distributes hearing care solutions for adults and children. Sonova Holding AG was founded in 1947 and is headquartered in Stäfa, Switzerland. In February, 2023 Sonova Holding AG, a leading provider of hearing care solutions, announces that its Audiological Care business has launched the SilentCloud™* medical app.
2. Starkey Laboratories
Starkey Hearing Technologies is a privately held, global hearing technology company headquartered in Eden Prairie, Minnesota. Founded in 1967, Starkey Hearing Technologies currently operates 21 facilities and conducts business in more than 100 markets worldwide. In March, 2022 Starkey and Special Olympics, the international non-profit organization dedicated to transforming the lives of people with intellectual disabilities through sport, health and education programming, signed a global partnership agreement that increases access to hearing health services worldwide for individuals with intellectual disabilities.
3. GN Hearing
Founded in 1869, GN Group facilitates communication between people through its intelligent hearing, audio, video, and gaming technology. The company has headquarters situated in Ballerup, Denmark.
4. Demant A/S
Demant A/S operates as a hearing healthcare and audio technology company in Europe, North America, the Pacific, Asia, and internationally. The company was formerly known as William Demant Holding A/S and changed its name to Demant A/S in March 2019. Demant A/S was founded in 1904 and is headquartered in Smørum, Denmark.
5. Cochlear Ltd.
Cochlear Limited provides implantable hearing solutions for children and adults worldwide. It offers cochlear implant systems, sound processor upgrades, bone conduction systems, accessories, and other products. The company was founded in 1981 and is headquartered in Sydney, Australia.
6. Eargo Inc.
Eargo, Inc., a medical device company, engages in enhancing the quality of life of people with hearing loss in the United States. The company was formerly known as Aria Innovations, Inc. and changed its name to Eargo, Inc. Eargo, Inc. was incorporated in 2010 and is headquartered in San Jose, California.
7. RION Co., Ltd.
Ri Co., Ltd. manufactures, sells, and maintains hearing instruments, medical equipment, sound and vibration measuring instruments, particle counters, and related parts and equipment in Japan. The company was formerly known as Kobayashi-Riken Seisakusho Ltd. and changed its name to Rion Co., Ltd. in 1960. Rion Co., Ltd. was incorporated in 1944 and is headquartered in Kokubunji, Japan.
8. MED-EL (Medical Electronics)
Since 1975, MED-EL Medical Electronics, a leader in implantable hearing solutions, is driven by a mission to overcome hearing loss as a barrier to communication and quality of life. The company has headquarters situated in Innsbruck, Austria but our hearing solutions are available in over 130 countries worldwide. In October, 2020 The Austrian company MED-EL, a global innovation leader in hearing solutions, and Paracelsus Medial University Salzburg announced a joint research agreement for the clinical testing of human umbilical cord cell-derived extracellular vesicles.
9. Amplifon S.p.A
Amplifon S.p.A. retails hearing care products and services that help people rediscover various emotions of sound. The company was founded in 1950 and is headquartered in Milan, Italy.
10. Zounds Hearing
Founded in 2005, Zounds Hearing designs, manufactures and retails high-performance hearing aids for use with mild, moderate, severe and profound hearing impairments. Headquartered in Phoenix, Arizona.
*Definition - Those with hearing loss can benefit from hearing aids, which are sound amplifiers. Those with hearing loss can listen, communicate, and fully engage in daily activities thanks to the sound amplification it provides.
