Market Size - Hearing Aids: United States
In 2018, the United States market size for hearing aids was approximately $1.8 billion, and about 4.6 million Americans wear hearing aids at least some of the time.
U.S. Market size for hearing aids
- According to the European Hearing Instrument Manufacturers Association, in 2017, there were 15.05 million hearing aid units sold worldwide.
- According to Hearing Review, In 2017, there were 3.77 million hearing aid units sold in the United States.
- The hearing aid market share for the U.S. in 2017 was 25%.
- The global hearing aid market size was $7.383 billion in 2018.
- Assuming the U.S. hearing aid market share remained the same for 2018, the U.S. hearing aid market size is $1,845,750,000 or about $1.8 billion.
U.S. Market size in number of users
- As of 2017, 28.8 million Americans could benefit from hearing aids, but only 16% actually have them and wear them at least some of the time.
- In 2017, the approximate number of Americans who wore hearing aids at least some of the time was 4,608,000 or 4.6 million.
Hearing aid sales growth
- In 2018, hearing aid sales increased by 5.3% in the United States.
- There were nearly 4 million hearing aids sold in the U.S. in 2018 (3,969,985 units).
- Private sector hearing aid sales increased by 5.95% in 2018, while the sales growth for the Department of Veterans Affairs (VA) increased by 2.4%.
- Hearing Review predicts hearing aid sales will hit 4 million units by the end of 2019.
Top Hearing aid brands
- The top six hearing aid manufacturers account for 98% of the global market.
- In the U.S., the same six hearing aid manufacturers account for between 80% and 90% of the total market.
- The top six hearing aid manufacturers by market share are GN ReSound, Sivantos, William Demant, Sonova, Starkey, and Widex.
Additional Helpful findings
- Of the nearly 4 million hearing aids sold in the U.S. in 2018, 85% were the "BTE-type devices (behind the ear): Reciever-in-the-canal (RIC) hearing aids accounted for 72.5% of all hearing aids dispensed in 2018, while traditional BTEs made up 12.7%."
- Approximately 78% of hearing aids are sold through private companies compared to 22% sold through the VA.
- Globally, Sonova has a 25% market share, William Demant has a 24% market share, GN ReSound and Sivantos each have a 16% market share, Starkey has an 11% market share, and Widex has an 8% market share.
- Widex and Sivantos have announced plans to merge, which would create a company with about 24% market share (16% + 8%).
- Sonova hearing aid brands include Phonak, Lyric, Audeo B-R, and BoleroB.
- William Demant hearing aid brands include Oticon, Bernafon, and Sonic Innovations.
- Sivantos has one hearing aid brand, which is Signia (formerly Siemens).
- GN Hearing hearing aid brands include ReSound and Jabra.
- Starkey hearing aid brands include Audibel, MicroTech, and NuEar.
- Widex hearing aid brands include Unique, Dream, and Beyond.
- In 2013, ReSound introduced LiNX, the first-ever hearing aid designed for iPhones and iPads.
- In the United States, hearing aids can cost between $2,000 and $7,000.
- About 30% of Americans experience some degree of hearing loss by age 50. This increases to 45% by age 60, to 70% by age 70, and to 90% by age 80.
- However, just 15% of Americans with hearing loss by age 50 use hearing aids. This increases to 57% by age 80.
- Hearing-impaired military veterans aged 55 to 64 are twice as likely as non-veteran Americans to wear hearing aids.
To find the United States market size for hearing aids, we began with looking for a direct answer from market research companies like Market Watch, Grandview Research, IBISWorld, and Technavio, among others. Unfortunately, all that was available was the global market size. We kept these reports in mind for possible triangulation as we continued to search for a direct answer to the U.S. market size through hearing industry reports from Hearing Review, Hearing Health Matters, HealthyHearing, and more. This strategy provided us with the number of hearing aids sold in 2017 and 2018, which we also kept available for possible triangulation. Our third attempt to find a direct answer was to search for an approximate market size in media sources such as Forbes, Bloomberg, USNews, and Fortune, among others, but the only data found was again the number of units sold.
We switched tactics and began looking for the U.S. market share of the global hearing aid market size. If we could find this information, we could calculate the U.S. market size by multiplying the total market size by the U.S. market share. We repeated the searches through the above-mentioned sources, but all stats related to market share were locked behind paywalls. In addition, we found that most reports segmented the market using North America rather than the United States. Thus, any data found in these sources would have been skewed anyway. It is possible that the United States market share is also provided behind these paywalls, but without access, we have no way of knowing for sure. Searches through industry publications and media sources were also futile, as only major player market shares were given.
At this point, we decided to triangulate the market size using information we already had. Since we knew how many units were sold in the United States, we decided to find the number of units sold worldwide to provide us with the U.S. market share. This strategy was successful. We found that there were 15.05 million hearing aid units sold worldwide in 2017, 3.77 million of which were sold in the United States. By dividing the U.S. number of units by the total number of units, we were able to calculate the U.S. market share as 25% (3.77 million / 15.05 million).
Using that percentage, we could then calculate the market size in dollars by multiplying the global market size by the U.S. market share. The global market size for hearing aids was $7.383 billion in 2017. Using the 25% U.S. market share, we calculated the U.S. market size in dollars to be $1,845,750,000 ($7,383,000,000 x 0.25).
Although optional, there was enough available data to calculate the number of hearing aid users in the United States. In industry publications, we found that about 28.8 million Americans could benefit from hearing aids, but that only 16% actually use them at least some of the time. Therefore, we calculated that about 4,608,000 Americans use hearing aids at least some of the time (28,800,000 x 0.16). All other information found was straightforward and required no calculations.