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Global Hearing Aid Market
 
 ![](https://i.imgur.com/xhjOYeP.jpg)


Global Hearing Aid Market Insights
The Global Hearing Aid Market Size was valued at USD 9.71 Billion in 2021, and it is expected to reach a value of USD 16.53 Billion by 2028, at a CAGR of 7.90% over the forecast period (2022 - 2028).
A hearing aid is an electrical device that amplifies sound in order to provide the user with clear sound. These are mostly used by those who have hearing loss or disability. Hearing aids are becoming more popular as a result of technology advancements and increased desire for attractive designs. While factors such as technical developments and pricing pressures are expected to influence the market, significant growth is expected throughout the analysis period. Wireless gadgets, Bluetooth, and the constant introduction of new attractive designs are the primary drivers of the market. The industry is also being driven by a growing ageing population, improved diagnosis, and increased awareness.

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Global Hearing Aid Market Segmental Analysis
The Global Hearing Aid Market is segmented on the basis of product type, type of hearing loss, patient type, and region. Based on the product type, the market is segmented into hearing aid devices and hearing implants. The hearing aid devices segment is further classified into receiver-in-the-ear hearing aids, behind-the-ear hearing aids, canal hearing aids, in-the-ear hearing aids, and other hearing aid devices; and the hearing implants segment is further classified into cochlear implants and bone-anchored systems. Based on the type of hearing loss, the market is segmented into sensorineural hearing loss and conductive hearing loss. Based on the patient type, the market is segmented into adults and pediatrics. Based on region, the region is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Global Hearing Aid Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Top Player’s Company Profiles
•	Sonova Group (Switzerland)
•	Demant A/S (Denmark)
•	GN Store Nord A/S (Denmark)
•	Cochlear Ltd. (Australia)
•	Starkey (US)
•	Nurotron Biotechnology Co., Ltd. (China)
•	MED-EL (Austria)
•	Audina Hearing Instruments, Inc. (US)
•	Horentek (Italy)
•	ZOUNDS Hearing Inc. (US)

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Recent Developments
•	In April 2022, Demant reached an agreement with Cochlear Limited to sell its Hearing Implants business, Oticon Me-dical, for a total consideration of DKK 850 million. The acquisition comes after a study of strategic options for the firm, including how to provide the greatest lifetime support to existing patients.
•	In January 2022, Soundwave Hearing, LLC announced the launch of its new hearing aid and mobile app, which are revolutionizing self-fitting hearing aid technology.
•	In January 2022, Starkey launched the Evolv AI hearing aid series with a full spectrum of hearing aid types and expanding on their holistic approach to enhanced hearing.
•	In May 2021, Sonova Holding AG acquired Sennheiser, a firm that specializes in the creation of medical audio and hearing aids. This strategic decision will help the company boost its market position and increase revenue.

