Hearing aids market to be valued at $14.42b by 2030

The sector’s growth is attributed to the rising prevalence of hearing loss.

The global hearing aids market is expected to reach $14.42b by 2030 at a compound annual growth rate of 6.8%, according to MarketsandMarkets.

The sector’s expansion is attributed to the rising prevalence of hearing loss, an increasingly ageing population, and the heightened acceptance of smart hearing aids.

In addition, the growth of insurance coverage and supportive reimbursement policies in developed nations further drives market penetration.

“The integration of hearing aids with digital health ecosystems and the substantial growth opportunities within emerging markets present significant avenues for industry growth,” the report said.

However, high costs, limited accessibility in specific regions, and a shortage of trained professionals may challenge market expansion.