Hearing Loss Disease Treatment Market Size, Share & Trends Analysis Report By Product (Devices, Drugs), By Disease Type (Conductive, Sensorineural), By End-user (Hospitals, Otology Clinics), And Segment Forecasts, 2023 - 2030

Report Overview

The global hearing loss disease treatment market size was valued at USD 12.71 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.92% from 2023 to 2030. The increasing prevalence of hearing loss, rising age-related sensorineural degeneration, and rising awareness among people about the disease are the key factors driving the industry's growth. In addition, rising technological advancements in hearing aid devices and robust pipeline drugs boost industry growth. However, poor reimbursement facilities in low- and middle-income countries are anticipated to restrain the growth.

As per the World Health Organization, in April 2021, globally, around 432 million adults and 34 million children required attention and action for their listening disability. It is estimated that by 2050, around 2.5 billion people, or one in every 10 people are projected to suffer from some degree of hearing impairment and approximately 700 million people will need the support of listening rehabilitation worldwide. Moreover, due to unsafe listening practices, over 1 billion young age people are at risk of permanent but avoidable hearing loss. Therefore, the global rising prevalence of the disease is driving industry growth.

The strong research and development activities have led to the availability of robust products in the clinical pipeline that can solve an unmet market need. For instance, in January 2022, Sensorion’s SENS-401 is under phase 3 clinical trial indicated for severe and sudden sensorineural hearing loss. In December 2022, Sound Pharmaceuticals’ Ebselen is in phase 3 investigation for the treatment of Meniere's Disease, a rare disorder of the inner ear. Similarly, Otonomy, Inc.’s OTO-413 and Frequency Therapeutics’ FX-322 are under phase 2 clinical trials indicated for speech-in-noise listening impairment and adults with acquired sensorineural disease, respectively.

Therefore, the launch of these products in the coming years is expected to offer lucrative opportunities for market growth. The highly technology-driven marketplace has seen the emergence of novel products, including invisible hearing aids, smart-linked hearing aids, and AI-enabled auditory products that can be connected to iOS or Android. For instance, in October 2021, a health-technology company, Audibel, launched an AI hearing aid, Arc-AI, which enables automatic adjustment of audio volume and is available in various styles. Similarly, Phonak introduced the world's first waterproof rechargeable, Audéo Life hearing aid in August 2021.

Therefore, such new features and technology are improving patients' experiences, which is anticipated to boost the industry's growth over the forecast period. According to the WHO, globally, unaddressed hearing loss costs an estimated USD 980 billion annually. This involves health sector costs, societal costs, loss of productivity, and cost of educational support. Low- and middle-income countries incurred 57% of this cost. Such factors create opportunities for companies to solve an unmet need in the region. The government and private organizations continuously strive to raise awareness through various campaigns.

For instance, in September 2022, the U.K. released Audiology Podcast Episodes offering advice & support for listing impairment and hearing healthcare. In addition, every year 3rd March is dedicated to World Hearing Day and raises awareness on the prevention and management of the disease. In June 2021, Oticon Medical released a blog for Ponto Loaner Program, which is created to ensure children aged up to 18 years receive care for the disease at zero cost. Thus, such initiatives are fueling the demand for treatment, thereby boosting industry growth.

Product Insights

The devices segment dominated the industry in 2022 and accounted for the maximum share of more than 86.30% of the overall revenue. This can be attributed to the growing advancement of auditory devices, the introduction of new products with advanced features, the unavailability of FDA-approved drugs for the treatment of hearing loss, and the presence of a large number of payers in the segment.Patients with severe disease conditions can benefit from a cochlear implant. Advancement with cochlear implants enables individuals to maintain the same quality of audio even if one ear is affected by severe listening impairment whereas the other ear has normal/mild/moderate hearing condition.

Such advancements in devices are fueling the segment’s growth. The drugs segment is estimated to register the fastest CAGR over the forecast period due to the launch of new therapeutic products. Drugs are available for several types of hearing problems. This includes standard treatments, such as antibiotic products for ear infections and steroids for sudden auditory loss or inflammation. However, physicians recommend hearing aids or Assistive Listening Devices (ALDs) for patients who do not show improvement with medications. Thus, the demand for novel and dedicated treatment options has created lucrative growth opportunities for the industry.

Disease Type Insights

The sensorineural hearing loss segment dominated the industry in 2022 and accounted for the maximum share of more than 51.15% of the total revenue. This can be attributed to the most common condition observed among patients and the rising number of treatment options. Moreover, increasing exposure to loud noises and cases of virus or disease infection, tumors, and autoimmune inner ear disease are among the prominent risk factors for sensorineural hearing loss. According to Johns Hopkins Medicine report, about 30% of adults aged 65 years and above have some level of age-related listening disability.

Moreover, as per the National Institute on Deafness and Other Communication Disorders (NIDCD), hearing loss has affected 1 in 3 people in the age group between 65 and 75 in the U.S. Thus, increasing cases of the disease is driving the segment growth. Furthermore, growing research and development for better treatment options in space is offering a lucrative opportunity for market growth. For instance, the presence of Sensorion’s SENS-401 in phase 3 clinical investigation. Moreover, irreversible sensorineural hearing loss needs the support of hearing aids or even cochlear implants for severe cases.

End-user Insights

The hospital end-user segment, in 2022, accounted for the second-highest share of more than 34.05% of the overall revenue. This high share can be attributed to the increasing demand for multispecialty hospitals for such diseases. Patients with complaints of ear disorders are treated by a multidisciplinary team of experts whose medical and surgical practice is dedicated to managing the condition. For example, otologists and neurotologists can effectively coordinate for patients with infections of the ear, auditory impairment, and tumors involving both the ear and the skull.

Moreover, people have access to multiple facilities, such as counseling, medical and surgical treatment, rehabilitation, and follow-up care at hospitals, fueling the segment's growth. In addition, hospitals offer 24/7 services and also hold the patient and family’s loyalty for education, training, and guidance related to medication and post-management of the condition. Furthermore, investments in the automating process of medical and pharmacy insurance information have contributed to easy clearances for patients and payers, offering lucrative opportunities for segment growth.

Regional Insights

North America accounted for the second-highest share of more than 27.90% of the overall revenue in 2022 owing to the rising prevalence of disease, presence of key players, and high-paying ability toward branded drugs and advanced devices in the U.S. For instance, according to the NIDCD, 1 in 8 people above 12 years of age has reported listening impairment in both ears and the prevalence rate of the disease has increased by 8.5% for people in the age group of 55 to 64 years. Furthermore, better healthcare access and expected new drug launches in the region will strengthen its market share in the coming years.

For instance, in September 2022, FDA approved Fennec Pharmaceuticals Inc.’s PEDMARK to reduce cisplatin chemotherapy-induced hearing loss in pediatric patients. Furthermore, various organizations work toward raising awareness about disability and conduct awareness campaigns on World Hearing Day. Thus, an increase in awareness is encouraging patients to seek a diagnosis for auditory impairment, thus contributing to market growth. However, Asia Pacific is expected to be the fastest-growing region from 2023 to 2030 due to the rising number of target patients and funding support to major players in the region.

Key Companies & Market Share Insights

Key players are undertaking strategic initiatives, such as opting for geographical expansion, strategic collaborations, and partnerships through mergers and acquisitions, which are boosting industry growth. For instance, in July 2022, Mogrify Ltd. and Astellas Pharma Inc. entered into a collaborative research agreement to develop regenerative medicines to treat sensorineural hearing loss. According to this initiative, Astella will bring its experts for the development of Adeno-associated Virus (AVV)-based genetic medicine. Some of the key players in the hearing loss disease treatment market include:

• Novartis AG

• Otonomy, Inc.

• Acousia Therapeutics GmbH

• Sensorion

• Pipeline Therapeutics

• Frequency Therapeutics

• Astellas Pharma, Inc.

• Audina Hearing Instruments, Inc.

• WS Audiology A/S

• Audifon GmbH & Co. KG

Hearing Loss Disease Treatment Market Report Scope

Global Hearing Loss Disease Treatment Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global hearing loss disease treatment market report based on product, disease type, end-user, and region:

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Devices

  • Drugs

    • Systemic steroids

    • Antiviral medication

    • Vasodilators

    • Others

• Disease Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Conductive Hearing Loss

  • Sensorineural Hearing Loss

  • Mixed (Conductive and Sensorineural)

• End-user Outlook (Revenue, USD Million, 2018 - 2030)

  • Hospitals

  • Otology clinics

  • Ambulatory clinics

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

    • Thailand

    • Rest of APAC

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Rest of LATAM

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait

    • Rest of MEA