Hearing Amplifiers Market Size

Hearing Amplifiers Market size is poised to cross USD 155.5 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of hearing amplifiers was USD 82.5 Billion. The reason behind the growth is impelled increasing elderly population across the globe. Age-related hearing loss is very common and frequently goes undiagnosed therefore, senior citizens who have trouble hearing in noisy settings can use hearing amplifiers to gain in communication and quality of life and to hear surroundings better, including simple sounds such as footfall and computer noise. For instance, more than 770 million people worldwide, or over 9% of the world's population, will be over 65 in 2022.

The growing launch of specialized products is believed to fuel the hearing amplifiers market growth. For instance, EssilorLuxottica announced to launch of a new hearing technology with a virtually invisible hearing technology inside stylish spectacles for more than 1 billion people that will help assist them to overcome "a psychological barrier" surrounding the adoption of hearing aids.