Hearing Aids Market expected to expand at a CAGR of 4.9% from 2022 to 2030
Hearing Aids Industry Overview The global hearing aids market size is expected to reach USD 15.5 billion by 2030, according to a report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.9% from 2022 to 2030. Increasing adoption of hearing aids, the growing awareness regarding technologically advanced products for the treatment of auditory loss, and the rising prevalence of auditory loss are some of the factors contributing to the market growth. The World Health Organization estimates that by 2050, the number of individuals living with severe hearing loss would approach 900 million. Besides that, physiological ear aging, hereditary vulnerability, increasing noise exposure, vascular illness, and chronic inflammation are factors that will contribute to the growing need for hearing aid. Hearing aid support items are also benefiting from government-funded projects. The majority of nations with greater penetration rates have government-funded...