man-fishing-boat

The healthcare market


The hearing healthcare market represents a wholesale value of USD 6,5 billion per year, with Europe and North America being by far the largest markets.

  • 1 in 10 people over the age of 50 lives with a hearing loss


  • +15,000,000 units are sold every year


  • Hearing aid market growth is largely driven by demographic developments


  • Out of the 134 million babies born every year, approx. 150,000 are cochlear implant candidates

Approximately 15 million hearing aids are sold every year and the market grows by 4-6% yearly, largely driven by demographic development.

For cochlear implants and bone anchored hearing systems growth rates are significantly higher than growth rates in hearing aids, 10-12% and 10-15% respectively. And many children need help: It is estimated that out of the 134 million babies born every year, more than 150,000 are candidates for a cochlear implant.

The market for hearing-diagnostic equipment and accessories is a mature hearing care market with an approximate growth rate at 2-4%.

 

Around 1 in 10 people over the age of 50 is living with a hearing loss. The biggest barrier preventing people from getting help is to get them to accept that they need a hearing device – and once they have purchased one, to actually wear it. On average, hearing impaired people wait seven years from when their hearing loss is discovered until they actually buy a hearing aid.