The meaning of "irreversible" in this sentence is "it will never change".
The root word in this word is "reversible" which means capable of being reestablished or changed. However, the prefix "ir" means "no", which implies this word describes the quality of an element to remain in the same state or the impossiblity of change.
Based on the meaning of the word, in the sentence "The hearing loss is irreversible" it can be inferred that the hearing loss will never change or that the person will not recover the ability to hear.
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