The huge market of hearing aids is accounted because of the increasing number of the hearing-impaired population across the globe. According to World Health Organization (Switzerland), more than 5 % of world’s population suffers from hearing loss.

Companies in the market have a strong distribution network to ensure the customized hearing aid devices. These hearable devices also help manage particular health conditions and disease states. Also, an increasing number of advanced clinics and recommendations from audiologist have given boosted the adoption of hearing aids among the consumers.

According to the industry experts, the hearable devices market is expected to be worth USD 23.24 Billion by 2023, at a CAGR of 9.98% between 2017 and 2023.

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Digital hearing aids is expected to grow at the highest rate during the forecast period. Digitally programmable hearing aids possess all the features of analog aids, but they use digitized sound processing.

They are usually self-adjusting and offer greater precision for speech recognition and noise reduction. Digital hearing aids allow the use of the latest wireless connecting technologies such as Bluetooth and others.\

Among all the major applications of the hearable devices market, the market for healthcare application accounted the largest share in 2016. The evolution of technology allows people to measure heart rates and other parameters such as body temperature, blood pressure, pulse oximetry, electrocardiogram (ECG), electroencephalogram signals, and others using various smart hearable devices available in the market.

In terms of regions, the Americas acquired the largest market for hearable devices in 2016. The market in the Americas is likely to be fueled by the increase in sale and distribution of hearing aids.

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