Hearing loss that occurs gradually as you age (presbycusis) is common. According to the National Institutes of Health, an estimated one-third of people in the United States between the ages of 65 and 75 and close to one-half of those older than 75 have some degree of hearing loss.
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Doctors believe that heredity and chronic exposure to loud noises are the main factors that contribute to hearing loss over time. Other factors, such as earwax blockage, can prevent your ears from conducting sounds as well as they should.
You can't reverse hearing loss. However, you don't have to live in a world of muted, less distinct sounds. You and your doctor or hearing specialist can take steps to improve what you hear.
Source: http://www.mayoclinic.org/diseases-conditions/hearing-loss/basics/definition/con-20027684/