Market Trends of Bone Conduction Hearing Aids Industry
Bone Anchored Hearing Aids Segment is Expected to Witness Significant Growth Over the Forecast Period
The bone-anchored hearing aid (BAHA) is a surgically implanted device that aids individuals with hearing loss by transmitting sound vibrations directly to the inner part of the ear through the skull bone, bypassing specific auditory issues. These work best for people who have at least one inner ear that functions normally.
The prevalence of hearing loss among the geriatric population is growing, leading to the high demand for adult bone-anchored hearing aids. For instance, as per the National Council on Aging in November 2023, approximately 60.7 million Americans aged 12 and older were affected by hearing loss. Roughly 15.5% (or 44.1 million) of American adults aged 20 and older exhibit some degree of hearing impairment. Among those aged 65 and older, 31.1% face hearing challenges, and this figure rises to 40.3% for adults aged 75 and above. Thus, the high burden of hearing loss is expected to increase demand for hearing aids and is likely to drive the market for BAHA over the projected period.
Furthermore, several initiatives are taken to support the expansion of BAHA to meet the growing need of BAHA over the projected period. For instance, in June 2023, the United Kingdom Competition and Markets Authority (CMA) halted sales of the Pronto Bone Anchoring Hearing System (BAHS) due to concerns over market competition. This decision may foster market growth for BAHS by encouraging innovation and competition among manufacturers to develop alternative solutions. As companies strive to fill the gap left by Pronto's absence, it could lead to improved product offerings and potentially lower prices for consumers, thus expanding the overall market for bone-anchoring hearing systems.
Thus, the high burden of hearing loss and growing initiatives that support the meet growing need for BAHA are anticipated to bolster the segment growth over the forecast period.
North America is Expected to Have the Significant Market Share Over the Forecast Period
North America is expected to hold a significant share of the market over the forecast period due to factors such as the rise in the incidence of hearing loss, the growing geriatric population, rising technological advancements, increasing product launches, and increasing government initiatives.
The growing incidence of hearing loss is expected to increase the demand for technologically advanced hearing aids, which is anticipated to fuel the market growth over the projected period. For instance, according to the data published by the PAHO, in March 2023, about 217 million people were living with hearing loss in the region of America, representing 21.52% of the total population in 2022, and this number is projected to reach 322 million by 2050. The increasing geriatric population in the region is also contributing to the increased demand for hearing aids as they are more likely to develop age-related hearing loss.
Furthermore, the rising company focuses on adopting various key strategies such as partnerships, collaborations, and others, as well as increasing product approvals and increasing the availability of technologically advanced products in the market, hence boosting the market growth. For instance, in August 2023, Cochlear Limited unveiled its next-generation Cochlear Osia System, engineered to enhance hearing outcomes for individuals with conductive hearing loss, mixed hearing loss, and single-sided sensorineural deafness (SSD). Notably, with the launch of the OSI300 Implant, it becomes the sole active bone conduction system enabling patients to safely undergo MRI scans at both 1.5 T and 3.0 T, all without necessitating surgery.
Increased awareness about the benefits of bone-conducting technology, driven by healthcare professionals and marketing efforts, has led more consumers to consider these devices as a legitimate option for hearing assistance. For instance, in March 2024, GN unveiled a campaign titled "The New Norm," targeting the misconceptions surrounding modern hearing aids. These misperceptions play a significant role in the prevalent issue of untreated hearing loss. Thus, such awareness programs will shift the focus of people towards bone-conduction hearing aids and their efficacies, which is expected to increase the adoptability of these devices and therapies, thus driving the market.
Therefore, with the increasing government funding, increasing incidences of hearing loss coupled with an aging population, and rising company activities, the studied market is expected to grow over the forecast period.
