The hearing aids market is growing steadily, driven by an aging global population and increased prevalence of hearing loss. Modern devices—whether behind-the-ear, in-the-ear, or invisible—use advanced technology like AI-powered noise reduction, Bluetooth connectivity, and rechargeable batteries to improve usability and satisfaction. Greater awareness, rising affordability (especially via over-the-counter options), and the convenience of teleaudiology are all contributing to increased adoption. As innovation continues and access expands, more individuals are benefiting from enhanced hearing solutions worldwide.
According to Fortune Business Insights, the global hearing aids market was valued at USD 12.96 billion in 2023 and is projected to grow from USD 14.35 billion in 2024 to USD 34.76 billion by 2032, exhibiting a CAGR of 11.7% during the forecast period. In 2023, North America dominated the hearing aids market with a market share of 38.19%.
Starkey Laboratories launched the Genesis AI hearing aids in Australia and New Zealand—featuring an advanced AI processor, long-lasting rechargeable battery, and one of the smallest sensor-equipped RIC designs, marking a leap forward in device miniaturization and powered functionality.