The MEA Hearing Aid Market size is expected to grow USD 1.07 billion by 2027 from USD 0.75 billion in 2022, growing at a CAGR of 7.4% during the forecast period. It captures 10% of the global market.
Rising hearing loss issues in newborn babies are the main driving factor for the market growth. Increasing focus on reducing high-frequency hearing loss patients is also escalating the market's growth to the extent. Growing incidences of hearing loss and the increasing geriatric population are eventually boosting up the demand for the Hearing Aid Market in Middle East & Africa. Escalating expenditure on healthcare is also accelerating the need for this market. The rise in infectious diseases is also one of the factors leading to the cause of hearing loss problems, which are promoting the demand for this market.
However, smart hearing aids devices cost very high due to their advanced features are slowly hindering the growth rate of the market. The government is being rigorous in approving new products to promote public safety, which is challenging for the market to grow. Also, fluctuations in the prices of the final products are another attribute impeding the demand of the Middle East & Africa Hearing Aid Market. Lack of specific knowledge in using these devices more effectively is also one of the factors limiting the demand of the market.
Adoption of the latest technologies in the medical sector and also increasing support from the IT sector are sole to provide growth opportunities for the market. Rising capital income in developed countries is undoubtedly to boost up the growth of the Middle East & Africa Hearing Aid Market. Growing focus on introducing innovative products is additionally leveraging the demand of the market. Also, the trend towards early detection and diagnosis of a disease elevates the growth rate of the Middle East & Africa Hearing Aid Market. Furthermore, the rising scale of industries and increasing emission of noise pollution from various companies is ascribed to bolster the demand of the market.
This report on the MEA hearing aid market has been segmented and sub-segmented into the following categories:
By Hearing Loss:
Regionally, UAE and South Africa are the two major countries and the most lucrative areas in terms of market growth. Increasing government support and growing awareness of overhearing disorders and the treatment options majorly driving the market growth.
Israel is expected to grow at the highest CAGR during the analysis period, and the growth is driven by the increasing concentration of inventing new products is demanding market growth. Moreover, the high cost due to advanced technologies is one major factor hampering the market growth.
Notable companies in the MEA Hearing Aid Market profiled in this report are GN Store Nord A/S (Denmark), Cochlear Limited (Australia), MED-EL (Austria), SeboTek Hearing Systems, Starkey Hearing Technologies, Inc. (U.S.), Widex (Denmark), William Demant Holding A/S (Denmark), LLC (U.S.), Sivantos Pte. Ltd. (Singapore), Sonova (Switzerland), and Zounds Hearing, Inc. (U.S.).
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