Global audiological devices market to rise at 8.9% CAGR through 2028

Hearing aids and cochlear implants serve as primary devices in the sector.

The global market for audiological devices is expected to grow by $5.44b by 2028 at an estimated compound annual growth rate (CAGR) of 8.9%, said Technavio.

The sector’s expansion is attributed to a rising prevalence of hearing loss, particularly in the ageing population and individuals affected by conditions such as Meniere's disease.

“Hearing aids and cochlear implants remain the primary devices driving market expansion,” the report said.

In line with this, digital signal processing, noise reduction, Bluetooth connectivity, and rechargeable battery features have gained traction in these devices.

Key consumer groups include adults and paediatric patients, with audiologists playing a key role in diagnosing and treating hearing loss.

Meanwhile, major companies in the market are investing heavily in research and development to introduce innovative products and expand their global reach.

“The healthcare system, public health campaigns, early screening programmes, and genetic predispositions are essential factors influencing market trends,” the report added.