Canada Hearing Aids Market Size & Outlook, 2023-2030
Canada hearing aids market, 2018-2030 (US$M)
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Canada hearing aids market highlights
- The Canada hearing aids market generated a revenue of USD 185.3 million in 2023 and is expected to reach USD 299.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 7.1% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- OUTPATIENT FACILITIES is the most lucrative end use segment registering the fastest growth during the forecast period.
Hearing aids market data book summary
| Market revenue in 2023 | USD 185.3 million |
| Market revenue in 2030 | USD 299.3 million |
| Growth rate | 7.1% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | OUTPATIENT FACILITIES |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | HOSPITALS, OUTPATIENT FACILITIES |
| Key market players worldwide | Audicus, Audina Hearing Instruments, Eargo, GN Store Nord A/S, MDHearingAid, SeboTek Hearing Systems, Sonova Holding AG, Starkey Hearing Technologies, WS Audiology |
Other key industry trends
- In terms of revenue, Canada accounted for 2.9% of the global hearing aids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 299.3 million by 2030.
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Hearing Aids Market Scope
Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada hearing aids market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hearing aids market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 79.87% in 2023. Horizon Databook has segmented the Canada hearing aids market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in the number of patients suffering from hearing loss is one of the major health concerns in Canada. Hearing loss is often underdiagnosed and undertreated, which may lead to profound hearing loss or permanent ear damage.
According to Canadian Health Measures Survey (CHMS), between 2012 and 2015, hearing loss was reported to be most prevalent in population aged 60 to 79, of which 47% of men were most likely to have impaired hearing as compared to women. Thus, with increase in prevalence of hearing loss in the age group of 60 to 79, the demand for hearing aids in Canada is expected to increase.
In addition, growing awareness about various treatment options available for hearing loss, increasing prevalence of hearing impairment, and availability of insurance coverage for hearing aid devices are among the factors expected to fuel hearing aids market growth in Canada.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada hearing aids market , including forecasts for subscribers. This country databook contains high-level insights into Canada hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada hearing aids market size, by end use, 2018-2030 (US$M)
Canada Hearing Aids Market Outlook Share, 2023 & 2030 (US$M)
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