China has a low (5%) rate of hearing-aid penetration compared to 20% in developed countries. With 180 million people currently older than 60 years and estimated to reach 248 million in 2020 plus the rising affluence of the middle-class income group almost guarantees a growing customer base for hearing aids.
According to the head of Siemens Hearing Instruments in China interviewed in this article in Forbes, there is currently a population of about 27 million suffering from hearing loss, with the majority not yet fitted with hearing aids. At the same time, rapid urbanization and (an) increasing Western lifestyle will offer more retail opportunities for the industry. That is why China is expected to be one of the key drivers for the growth of the global hearing aid market.