The hearing aid market - Spain

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.