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Europe 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 (Adults, and Pediatrics), By Distribution Channel (OTC {Over-the-Counter}, Medical Channel, and Private Practices), and Regional Forecast, 2023-2030

Last Updated: June 03, 2024 | Format: PDF | Report ID: FBI107908

 

KEY MARKET INSIGHTS

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Europe is the second largest region in the global hearing aids market. The Europe hearing aids market size is projected to grow at a CAGR of 8.3% during the forecast period. The global market for hearing aids is projected to grow from USD 11.29 billion in 2022 to USD 21.09 billion by 2030.


Growing adoption of hearing devices among the patient population suffering from mild or severe hearing loss and hearing impairment has encouraged key players operating in the market to develop and introduce technologically advanced products in the region.


According to a 2022 survey conducted by U.K. EuroTrak, 9% of the U.K.’s population had hearing loss, and around 10.5% of the country’s adults suffered from hearing loss.


Our report on the European market covers the following countries/regions – U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe.


LATEST TRENDS


Introduction of Technologically Advanced Products by Key Players


The increasing demand for hearing devices among the patient population in countries, such as the U.K., Germany, and others is shifting the focus of key players to develop and introduce technologically advanced products in the region. The integration of artificial intelligence, machine learning, and other technologies is one of the key market trends. This integration is increasing the benefits and features of hearing devices, making them more compact and effective for communication.


DRIVING FACTORS


Rising Focus to Improve Reimbursement Scenario of Hearing Devices to Fuel Market Growth


The rising prevalence of hearing loss among the population, especially the elderly, in countries, such as the U.K., Germany, France, and others is increasing the focus of governments and key market players to cater to the growing demand for hearing aids in the region.


Market players, government organizations, and other healthcare providers are focusing on improving the reimbursement scenario of hearing devices to fuel their adoption and penetration among the population. This factor is anticipated to increase the Europe hearing aids market growth.


In January 2021, France’s Ministry of Health and Prevention issued a 100% Audiology Health Offer, according to which, most of the hearing aids including those with BTE and ITE designs will be fully reimbursed.


RESTRAINING FACTORS


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Higher Costs Associated with Hearing Devices to Limit Market Growth


The rising R&D investment and cost to manufacture hearing aids with digital technology and integration of artificial intelligence in these devices are major factors for increasing the factory prices of hearing aid models. The higher manufacturing prices are raising the average selling prices of hearing implants sold by audiologists and specialists.



  • For instance, according to a 2022 article published by Hearing Aid U.K., the average price of major hearing aids brands ranges from USD 2,500-4,800.


KEY INDUSTRY PLAYERS


In terms of competitive landscape, Demant A/S, Sonova, and WS Audiology, among others are the key players of the Europe market. The increasing focus of the players to strengthen their product portfolios and R&D activities to develop and introduce new & advanced products to cater to the rising demand among the population are some of the important factors contributing to the growth of the Europe hearing aids market share of these players.


Other prominent players in the Europe market include Cochlear Ltd., GN Store, and Nord A/S. These companies are focused on expanding their product portfolio and distribution network through strategic collaborations and partnerships to increase their market share.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS:



  • March 2022: Demant A/S introduced new miniBTE-style hearing aids to expand its product portfolio in the Radiant family and provide personalized solutions to its users.       

  • March 2021: WS Audiology launched Signia Platform called ‘Sgnia AX’ (Augmented XPerience) to deliver an immersive, intelligent hearing experience with outstanding speech clarity among hearing aid wearers.

  • May 2021: GN Store Nord A/S launched Inerton Move to expand its product offerings in the hearing aids segment.


REPORT COVERAGE


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The market research report provides qualitative and quantitative insights on the market and a detailed analysis of the regional market size & growth rate for all possible segments in the market. Along with the market forecast, the research report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in the report are an overview of the prevalence of hearing loss, price analysis of types of products, regulatory scenario by key countries, pipeline analysis, new product launches, key industry developments – mergers, acquisitions & partnerships, and the impact of COVID-19 on the market.


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 8.3% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Product; Patient Type; Distribution Channel; and Country/ Sub-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

  • Medical Channel

  • Private Practices



By Country/ Sub-Region




  • Germany

  • U.K.

  • France

  • Italy

  • Spain

  • Scandinavia

  • Rest of Europe






Frequently Asked Questions

Recording a CAGR of 8.3%, the market will exhibit steady growth during the forecast period of 2023-2030.

Growing prevalence of hearing loss, rising demand for hearing devices, and increasing initiatives of market players to introduce innovative products are the major factors driving the growth of the market.

Sonova, Demant A/S, GN Store Nord A/S, and WS Audiology are the major players in the Europe market.

The U.K. dominated the market in 2022.

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