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Summary and extracts
1 Market overview
1.1 Definition and presentation
Hearing aids are devices that amplify sound to improve hearing and facilitate social interaction. Hearing aids can be placed over the ear or inside the ear (intraduct, intracochlea or mini intraduct). Hearing aids have become much more effective and discreet, and their use has gradually become more widespread over the past decade.
Worldwide, the hearing aid market is on an upward trend. In developed countries in particular, the proportion of elderly people in the total population is on the rise, increasing the number of potential customers. If we look at the number of hearing aids marketed by the EHMIA (European Hearing Instrument Manufacturers Association), which comprises the world's leading hearing aid manufacturers, we see that the market for hearing aids is growing steadily.manufacturers worldwide, the number of devices sold rose by 20.1% between 2016 and 2019, to exceed 17 million units. The covid-19 crisis, however, had a major impact on hearing aid sales, with the number of devices sold falling by 17.6% in 2020. The market relies heavily on customer contact, which was prevented during the first year of the pandemic.
In Spain, the hearing aid market is also growing, with an older population and a generalization of this type of practice. Over 17% of the population is over 65, and an estimated 6.2 million people suffer from hearing loss. Despite two difficult years due to the covid-19 pandemic, the market benefits from solid fundamentals and should continue to grow.
1.2 The global market
The global hearing aid market is expected to grow steadily, with a CAGR of around *.**% over the period ****-****. In ****, the market is valued at $**.** billion, rising to $**.** billion by ****. The market is driven by the global ageing of the population, particularly in developed countries.
Market estimates o
The graph below ...
1.3 The domestic market
Over the years **** to ****, the hearing aid market in Spain has evolved significantly. In ****, the number of sales stood at ***,*** units, then fell slightly in **** (***). These figures illustrate a positive and growing trend in the adoption of hearing aids in Spain. Thus, in addition to the year **** marked by Covid **, the ...
1.4 Imports and exports
Between **** and ****, the Spanish trade balance for hearing aids deteriorated significantly, marked by a steady increase in the deficit. In ****, the trade balance was -$**.** million, worsening to -$**.** million in ****, a deterioration of **.**%. In ****, the deficit increased by a further **.**% to -$***.* million. The year **** continued this trend with a ...
2 Demand analysis
2.1 An increasingly ageing society
In ****, Spain was considered to be the *th European country with the oldest population[***]. This aging population is an asset for the development of the hearing aid market, since age is a key criterion in determining whether or not consumers need hearing aids. This age component will be an additional demand ...
2.2 Current hearing aid population
In Spain, between **** and ****, the proportion of hearing-impaired people equipped with hearing aids showed a slight increase. In ****, **.*% of the hearing-impaired population used hearing aids, rising to **.*% in ****. This trend is similar for adults over **, where hearing aid adoption has risen from **.*% to **.*% over the same period. For people aged ** and ...
2.3 Access to hearing aids
When it comes to obtaining hearing aids, a large proportion of hard-of-hearing people don't follow through. Out of ***% of hard-of-hearing people, only **% discuss the subject with their doctor. After testing, only **% of those concerned have a positive opinion from their doctor about obtaining hearing aids. Finally, only **.*% of hearing-impaired people have ...
2.4 User satisfaction
The lifespan of hearing aids:
When it comes to the lifespan of hearing aids, given that on average they are used *.* hours a day, a significant proportion of users (***) replace them within * to * years of purchase. Around **% of devices last between * and * years, while **% continue to work for * to ** years. Finally, ...
3 Market structure
3.1 Value chain
The diagram below shows the value chain for hearing aids in Spain:
Research and Development (***): Companies invest in R&D to innovate and improve hearing aid technologies, including noise reduction features, Bluetooth connectivity, and sound quality improvements. Sourcing of materials: Manufacturing companies source the components needed to produce hearing aids. Manufacturing: ...
3.2 Production structure
A market dominated by conglomerates:
The table opposite lists the * conglomerates that concentrate the global hearing aid market and are present on the Spanish market. These * conglomerates have most of the brands available on the market. Note that these * conglomerates are all foreign groups.
Conglomerates Brands Demant Oticon, Phillips, Bernafon y ...
3.3 Distribution
A survey carried out by ANFIA in **** in Spain, shows distinct preferences as to where people actually and potentially buy hearing aids. Among those who already own hearing aids, an overwhelming majority of **% have purchased them from specialist outlets. Alternative options, such as opticians, pharmacies and online shopping, play a much ...
4 Offer analysis
4.1 Offer typology
The table opposite shows the types of hearing aids available on the Spanish market:
Source: ****
4.2 Prices
A subscription offer:
While prices for hearing aids range from €*,*** to €*,***, it is also possible to have hearing aids via a monthly subscription. The table below, from Audika, summarizes this provider's offer in Spain:
Source: ****
Price trends
Between **** and June ****, the price index for hearing aids in Spain, with a base ...
4.3 The importance of digital
Digital applications play a crucial role for people fitted with hearing aids, considerably improving their quality of life. These applications enable real-time, personalized adjustment of hearing aids, optimizing hearing in a variety of sound situations. They offer advanced functionalities such as ambient noise reduction, personalization of hearing profiles according to environments ...
4.4 The Telecoil system
The telecoil system, or magnetic induction loop (***). The system consists of an amplifier connected to a sound source and a network of copper cables forming a loop. The audio signal is thus transformed into magnetic waves, which are picked up by the hearing aids in the area covered. This device is ...
5 Regulations
5.1 State aid
A number of state aids are available in Spain to help consumers purchase hearing aids. These aids are not provided by the central government, but are the responsibility of the Autonomous Communities. Nevertheless, these aids are nationally conditioned by the following criteria:
Recognition of a degree of disability of at least ...
6 Positioning the players
6.1 Segmentation
- Amplifon France
- Sonova Groupe
- Prodition (Groupe Demant)
- WS Audiology (Widex Sivantos)
- GN Hearing
- Audika (Groupe Demant)
- Alain Afflelou Accousticien
List of charts presented in this market study
- Population aged 65 and over in Spain
- People reporting hearing loss by age
- People reporting hearing problems in Spain
- Hearing-impaired population equipped with hearing aids
- Type of hearing aids used
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Latest news
Hearing aids: the market is booming, and so are frauds - 20/03/2023
100% health coverage for hearing aids costing up to 950 euros per ear has boosted the market by 85% in 2021, remaining at the same level in 2022
- 2.2 billion euros in 2022
- - 85% growth in the hearing aid market in 2021 (63% growth in value)
- - 1.7 million aids sold
- - 4 million people have a hearing loss that warrants a hearing aid
- - 65% of the French population will be over 65 by 2030
- - Annual growth of 1.6% in value and 2.1% in volume from 2022 to 2027
- - Average price stable at around 1,500 euros per ear
- - 2,900 ENT specialists nationwide
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