U.S. Hearing Aids Market Size, Share & COVID-19 Impact Analysis, By Product (Hearing Devices (BTE {Behind the Ear}, ITE {In the Ear}, RIC {Receiver in the Canal}, CIC {Completely in the Canal}, and Others), and Hearing Implants (Cochlear Implants, and Bone-anchored Implants), By Patient Type (Adult and Pediatric), By Distribution Channel (OTC {Over-the-Counter}, Medical Channel, and Private Practices), and Forecast, 2023-2030

The U.S. hearing aids market size was valued at USD 3.87 billion in 2022. The market is projected to grow from USD 4.10 billion in 2023 to USD 7.01 billion by 2030, exhibiting a CAGR of 8.0% during the forecast period.

These devices are designed to wear behind or in the ear to enhance the auditory capacity of patients suffering from hearing loss. The rising patient population suffering from hearing loss and hearing impairment in the U.S. is one of the major factors contributing to the growing demand for these devices in the country.

• According to the Hearing Loss Association of America (HLAA), one out of five men and one of eight women in the U.S. report some sort of hearing trouble in the country.

The growing focus of key players on technological advancements in the development of hearing devices and favorable regulatory policies are some of the prominent factors augmenting the market growth. Moreover, the increasing insurance coverage and new product launches by key players are anticipated to support the market growth during the forecast period.

COVID-19 IMPACT

Outbreak of COVID-19 Pandemic Hampered Product Sales Due to Declining Patient Visits

The emergence of COVID-19 impeded the demand for auditory assistance products due to decreased patient volume.

Key players operating in the market recorded a significant decline in their revenues due to the COVID-19 pandemic. The reallocation of healthcare resources, declining number of patient visits to emergency care & outpatient settings, disruptions in supply chain, and other major factors impacted the sales of auditory devices in the U.S., especially during the first half of 2020.

• For instance, Cochlear Ltd., one of the leading developers of cochlear implants, witnessed a decline of around 6.5% in its revenues from the Americas in 2020 as compared to 2019.

As restrictions were lifted, the patient footfall for audiology and ENT services started to rise and reached a level higher than that of the pre-pandemic period. The increased patient visits and product demand resulted in increased revenue for key players operating in the market.

• Cochlear Ltd. recorded a strong recovery of 10.4% in its revenue of 2021 as compared to 2020 from the Americas.

LATEST TRENDS

Increasing Adoption of Technologically Advanced Devices in the U.S.

The rising demand for hearing devices among the patient population is prompting major market players to develop and introduce technologically advanced products. The integration of artificial intelligence in hearing implants is considered a significant revolution in the market. The advent of AI is leading to the development of in-built smart services for patients, such as adaptive sound and active noise cancellation.

Similarly, these companies are developing hearing devices with Bluetooth connectivity, improved design, compactness, GPS tracking, and many other beneficial features to cater to the rising product demand among the patient population in the country. These factors are anticipated to boost the demand for these devices in the future.

DRIVING FACTORS

Increasing Initiatives by U.S. Government and Market Players to Drive Market Growth 

The prevalence of hearing loss among the U.S. population is growing at a robust pace every year. The rising demand for cost-effective devices to manage auditory loss among the patient population is expected to be one of the major factors driving the U.S. hearing aids market growth.  

• According to the World Health Organization (WHO), auditory loss is a common disorder, especially in developed countries. In the U.S., nearly 14-15% of the total population, or 48 million citizens, suffer from some degree of hearing loss.

Along with this, the improving reimbursement scenario in the U.S. for hearing implants due to rising initiatives by the government and market players is another major factor contributing to the growth of the market.

Several regulatory changes have been undertaken in the U.S. to provide access to auditory loss assistance products to patients suffering from this condition.

• In July 2021, the New Jersey Human Services announced a new state budget with increased reimbursement rate for the Hearing Aid Assistance to the Aged and Disabled (HAAD) program to increase patients’ access to hearing aids assistance devices.

These factors, along with rising efforts of the market players to launch technologically advanced products in the country, are anticipated to propel the demand for and adoption of these devices among the U.S. population.

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 growth is the high cost of these products. Despite being considered a prescription product; most insurance providers do not cover the cost of these devices. Only a few states provide cover for the costs of these implants for children. The majority of the population is dependent on out-of-pocket expenses for the examination, devices, and services to fit and maintain these devices. Lack of favorable reimbursement policies is attributed to the low adoption of these devices among the patient population.

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

SEGMENTATION

By Product Analysis

Increasing Adoption of Hearing Aids for Hearing Loss Management to Drive Hearing Devices Segment

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 devices segment accounted for the largest U.S. hearing aids market share in 2022. This is due to the rising adoption of these devices and growing cases of auditory loss in the general population. The rising focus of the government, to lower the price is also expected to fuel the adoption of these implants among the population in the country.

• Under the final rule of the U.S. FDA on OTC hearing aids, the average price of the hearing aids can be lowered by selling these devices without prescription. Under this rule, retailers across the U.S., such as Walgreens, CVS, and others will start selling these OTC hearing devices for USD 799 as compared to the higher price range of USD 2,000 to USD 8,000 sold by medical specialists.

Also, the free or low-cost healthcare benefits offered by the U.S. Department of Veterans Affairs (VA) are responsible for driving the usage 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. It is responsible for increasing the demand for cochlear implants to treat complete auditory loss, which will drive the segment's growth in the market.

By Patient Type Analysis

Rising Geriatric Population to Help Adult Segment Hold Dominant Market Position

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

The adult segment is anticipated to hold a dominant share in the market during the forecast period. The growing geriatric population in the country and increasing awareness of various devices for the treatment of auditory disabilities 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 of geriatric adults in the U.S. 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. 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 for infants, which can facilitate early detection and treatment of auditory impairment.

• In December 2022, according to the American Speech-Language-Hearing Association (ASHA), the House and Senate passed the Early Detection and Intervention (EHDI) Act to support newborn hearing screening initiatives.

In addition, various studies have shown that early ear implantations can restore auditory defects and is positively associated with earlier open-set speech perception ability and oral communication. Thus, the penetration of these devices is growing among children, which is likely to foster the growth of the pediatrics segment.

By Distribution Channel Analysis

Medical Channel Segment Dominated due to Establishment of New Stores 

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

The medical channel segment dominated the market in 2022. The dominance of this segment is attributed to the increasing focus of major market players on acquiring and establishing new retail stores. Along with this, the surging number of company-owned retail stores is expected to drive the market growth during the forecast period.

• According to the Bureau of Labor Statistics (BLS) in 2021, there were 9,084 audiologists employed in the U.S. This number is expected to grow by 16% by the end of 2030.

The private practices segment is expected to record a considerable CAGR during the forecast period. The rising number of hearing impairment procedures in the country owing to an increasing patient population suffering from hearing loss and impairment is one of the major factors contributing to the growth of the segment.

The OTC segment is expected to grow due to the rising focus of the U.S. government on increasing the adoption and accessibility of these devices among the population.

In addition, the entry of major players in the e-commerce space and their market intelligence are expected to drive the market growth.

KEY INDUSTRY PLAYERS

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

The U.S. is a semi-consolidated market with a few major players holding a dominant share in the overall market. Sonova, Demant A/S, and WS Audiology are some of the prominent companies in the U.S. market.

The comprehensive product portfolios of these players and rising efforts to increase their penetration in the U.S. are some of the crucial factors contributing to the growing share of these firms in the market.

Other players, such as GN Store Nord A/S, Cochlear Ltd., and Starkey Laboratories Inc., are capturing a major share in the U.S. market. These players are increasing their efforts to receive product approvals and are entering strategic collaborations and acquisitions to strengthen their product portfolios and brand presence. These are some of the contributing factors favoring the players.

For instance, Cochlear Ltd. received the U.S. FDA’s approval for its remote check solution for cochlear implants in the U.S. and Canada. The company partnered with healthcare professionals to sell these products in the market.

Furthermore, ongoing R&D initiatives due to strong investments will lead to the emergence of new participants in the market during the forecast period.

LIST OF KEY COMPANIES PROFILED:

• Sonova (Switzerland)


• Demant A/S (Denmark)


• Starkey (U.S.)


• GN Store Nord A/S (Denmark)


• Cochlear Ltd (Australia)


• WS Audiology (Denmark)


• RION Co., Ltd. (Japan)


• MED-EL (Medical Electronics) (Austria)

KEY INDUSTRY DEVELOPMENTS:

• December 2022 – Eargo Inc. partnered with NationBenefits, one of the leading providers of supplemental benefit solutions in the U.S., to increase the access of hearing aids in the country.


• November 2022 – WS Audiology launched Signia Styletto AX and New Augmented Xperience (AX) platform in the U.S. for military veterans through the U.S. Department of Veteran Affairs (VA) audiologists.


• October 2022 – Lexie Hearing launched Lexie B2 hearing aids through its partnership with Bose to cater to the high product demand in the country.


• February 2022 – GN Store Nord A/S launched innovative Jabra Enhance Plus earbuds in the U.S. which are engineered for hearing enhancement.


• July 2021 – Cochlear Ltd. received the U.S. FDA approval for Kanso 2 Sound Processor and Nucleus 7 Sound Processor for Nucleus 22 implants.

REPORT COVERAGE

The research report provides a detailed analysis of the industry. It focuses on key aspects such as leading companies, products, and types of patients. Besides this, it offers insights into the 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.

Report Scope & Segmentation

ATTRIBUTE	DETAILS
Study Period	2019-2030
Base Year	2022
Estimated Year	2023
Forecast Period	2023-2030
Historical Period	2019-2021
Growth Rate	CAGR of 8.0% from 2023-2030
Unit	Value (USD billion)
Segmentation	By Product, Patient Type, Distribution Channel, and Region
By Product	Hearing Devices BTE (Behind the Ear) ITE (In the Ear) RIC (Receiver in the Canal) CIC (Completely in the Canal) Others Hearing Implants Cochlear Implants Bone Anchored Implants
By Patient Type	Adult Pediatric
By Distribution Channel	OTC (Over the Counter) Medical Channel Private Practices