Report Overview

Saudi Arabia Hearing Aids Market – Industry Trends & Forecast Report, 2029

Saudi Arabia hearing aids market size is expected to expand at a CAGR of 7.60% during the forecast period between 2023 and 2029. One of the key factors driving the demand for hearing aids is the growing awareness of technologically sophisticated devices for the treatment of hearing impairment and an increase in the prevalence of hearing loss in the elderly population. The demand for hearing aids is rising as a result of more government and non-profit organizations taking initiatives to increase awareness of treatments for hearing loss. People's hearing abilities are significantly impacted by rising noise pollution. Adults' hearing abilities are predicted to be harmed by noise pollution from heavy-duty industries and public carnivals, which will increase demand for hearing aids.

Hearing Aids Market - Overview

A hearing aid is a device that helps people with hearing loss recover their hearing by producing a sound that can be heard. Hearing aid prospects are typically determined by an audiologist, who will also implement the device based on the nature and severity of the cured hearing loss. The amount of benefit experienced by the user of the hearing aid is multi-factorial, considering the severity and etiology of the hearing damage, the technology, fitting of the device, and the user's enthusiasm, personality, daily life, and overall fitness. Several types of hearing aids differ in size, control, and integrated circuit, for example, Behind-the-ear (BTE) hearing aids consist of a rigid plastic case that is worn behind the ear and is connected to a plastic cable.

Growth Drivers

Increasing Adoption of Technology Advancements in Hearing Aids

Hearing aid technology has improved dramatically over the past several years with the introduction of digital technology connected with Bluetooth. For instance, the OPN from Oticon made for iPhone, iPad, and iPod touch, allowing you to stream audio directly into your hearing aids. OPN is also able to connect to the internet through a network known as the ‘Internet of Things.’ The Internet of Things is a system where individual devices connect and communicate with each other through the internet. Hearing aid suppliers have a great deal of opportunity as the focus on patient comfort grows. One of the most crucial aspects of hearing aids is fitting. Invisible hearing aids, smart connected hearing aids (AI, Bluetooth-enabled, which can be connected to Android or iOS), and other innovative devices have all been developed for the hearing aid market, which is a technologically driven industry. For instance, Phonak introduced Audéo Life, the first waterproof rechargeable hearing aid, in August 2021. Hearing aid producers are improving patient experiences with new features and technology, which is anticipated to fuel market expansion in the years to come.

Restraints

Societal Stigma Associated with Hearing Loss

Aside from the high cost of hearing aids, the societal stigma associated with hearing loss is a major impediment to the market expansion of the best hearing aids. People who suffer from hearing loss may resist treatment because it is associated with negative connotations. Many people believe that wearing a hearing aid makes them look older, weaker, less capable, or even disabled. Untreated hearing loss not only persists, but it also leads to cognitive decline, social disengagement, despair, and, eventually, dementia. Such preconceived notions about hearing loss contribute to the hearing aid industry's negative growth.

Impact of COVID-19 on Saudi Arabia Hearing Aids Market

COVID-19 pandemic prompted lockdowns, which resulted in various restrictions, such as social isolation, school closures, cancellation of conventions or meetings, and other measures to prevent the spread of coronavirus. Due to the postponement of surgeries, such as the cochlear implantation procedure, which is one of the most important surgeries to treat hearing issues, the pandemic harmed overall sales of hearing aid assistance products. As a result, leading manufacturers' hearing aid sales have declined. Despite these challenges, the hearing aids industry and other medical sectors are slowly regaining traction as the COVID-19 situation becomes more normalized across the nation.

Saudi Arabia Hearing Aids Market

Segmental Coverage

Saudi Arabia Hearing Aids Market - By Product

Saudi Arabia hearing aids market is divided into Behind the Ear, Receiver in the Ear, In the Ear, Canal Hearing Aids, and Other. Behind-the-ear (BTE) hearing aids segment accounts to hold the highest revenue share. BTE hearing aids are made up of a small, curved case that fits comfortably behind the ear. It is possible to modify these products by connecting them to external sound sources, such as infrared listening systems and auditory training equipment. Various BTE models are Bluetooth compatible, allowing for improved wireless connectivity and driving the market.

Because they have a powerful amplifier and a large battery, these devices also have a higher sound amplification. Behind-the-ear (BTE) devices can fit into a variety of ear molds, are simple to use and clean, and are more popular among younger people. They do not need to be replaced as the child gets older. With the development of innovative technologies, smaller, more comfortable products like the Mini BTE are created. These elements have contributed to the market expansion of these BTE products.

Saudi Arabia Hearing Aids Market - By Types of Hearing Loss

On basis of the types of hearing loss, Saudi Arabia hearing aids market is divided into Sensorineural and Conductive Hearing loss segments. Sensorineural hearing impairment is expected to dominate the market. Sensorineural hearing loss, also known as SNHL, is the most common type of permanent hearing loss caused by inner ear damage. SNHL is rarely cured by medicine or surgery. Hearing aids can improve your hearing. Head trauma or abrupt changes in air pressure (for example, an airplane descent) cause inner ear fluid compartment rupture or leakage, resulting in sensorineural hearing loss.

Saudi Arabia Hearing Aids Market - By Patient

On basis of the patient, Saudi Arabia hearing aids market is divided into Adult and Pediatric segments. The adults segment holds a higher market share. The use of hearing aids has increased in Saudi Arabia. due to an increase in the number of adults who suffer from hearing loss and greater awareness of the devices' availability. It is expected that harmful noise emissions from many industries will impair adults' hearing abilities, increasing the need for adult hearing care.

Saudi Arabia Hearing Aids Market - By Sales Medium

On basis of the sales medium, Saudi Arabia hearing aids market is divided into Government and Private segment. The private sales medium is the leading segment with a higher market share. Private sales medium offers a robust and reliable distribution network that can reach the majority of the population. It also provides a wide range of product portfolios to its customers, and strong branding adds to fuel the demand for hearing aids.

Competitive Landscape

Major companies in Saudi Arabia hearing aids market include ReSound (GN), Phonak AG, Starkey Hearing Technologies, Widex A/S, RION CO.LTD, Oticon, Signia, Microson, Batterjee & Bros. Co.in, Cochlear Limited, and Arab tone in the industry. The key strategies used by these market leaders are new product launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

By Product Type

• Behind the Ear

• Receiver in the Ear

• In the Ear

• Canal Hearing Aids

• Other

By Hearing Loss Type

• Sensorineural

• Conductive

By Patient

• Adult

• Pediatric

By Sales Medium

• Government

• Private

1. Research Framework

1.1. Research Objective

1.2. Product Overview

1.3. Market Segmentation

2. Research Methodology

2.1. Qualitative Research

1. Primary & Secondary Sources

2.2. Quantitative Research

1. Primary & Secondary Sources

2.3. Breakdown of Primary Research Respondents, By Region

1. Secondary Research
2. Primary Research

2.4. Breakdown of Primary Research Respondents, By Industry Participants

2.5. Market Size Estimation

2.6. Assumption for the Study

2.7. Market Breakdown & Data Triangulation

3. Executive Summary
4. Saudi Arabia Hearing Aids Market - Industry Insights

4.1. Industry Impact and Forces

1. Growth Drivers
2. Challenges
3. Opportunities

4.2. Competitor Analysis

1. Company Shares

4.3. Industry Ecosystem Analysis

4.4. Pricing Analysis

4.5. No. of Patient with hearing impairments or losses

4.6. Growth potential analysis, 2018

4.7. PEST Analysis

4.8. Porter Five Forces

4.9. Regulatory Framework

10. Technological Landscape
11. Strategic Outlook
5. Saudi Arabia Hearing Aids Market Overview

5.1. Market Size & Forecast

1. By Value (USD Million)
2. By Volume (Thousand Units)

5.2. Market Share & Forecast

1. By Product
1. Behind the Ear
2. Receiver in the Ear
3. In the Ear
4. Canal Hearing Aids
5. Other
2. By Types of Hearing Loss
1. Sensorineural
2. Conductive
3. By Patient
1. Adult
2. Pediatric
6. Company Profiles *

6.1. Resound (GN)

1. Company Overview
2. Financial Matrix
3. Key Product landscape
4. Key Personnel
5. Key Competitors
6. SWOT
7. Contact Address
8. Strategic Outlook

6.2. Phonak AG

6.3. Starkey Hearing Technologies

6.4. Widex A/S

6.5. RION CO.LTD

6.6. Oticon

6.7. Signia

6.8. Microson

6.9. Batterjee & Bros. Co.In

6.10. Cochlear Limited And Arab Tone

7. Strategic Recommendation

*Financial Details Not Be Captured in Case of Unlisted Companies

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable