Mexico Hearing Aids Market Size & Outlook, 2023-2030
Mexico hearing aids market, 2018-2030 (US$M)
Related Markets
Mexico hearing aids market highlights
- The Mexico hearing aids market generated a revenue of USD 86.7 million in 2023 and is expected to reach USD 152.1 million by 2030.
- The Mexico market is expected to grow at a CAGR of 8.4% 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 86.7 million |
| Market revenue in 2030 | USD 152.1 million |
| Growth rate | 8.4% (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, Mexico accounted for 1.4% 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 Latin America, Brazil hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 293.0 million by 2030.
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Hearing Aids Market Scope
Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico 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 79.93% in 2023. Horizon Databook has segmented the Mexico hearing aids market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
Rise in disposable income, technological advancements in hearing aids, and presence of large population suffering from mild-to-moderate hearing loss are among the key factors boosting the market. However, market penetration rate of hearing devices is low in this country.
According to United Nations, population of Mexico in 2018 was 131.3 million, of which population aged 65 and above accounted for 6.8% and that of 80 years & above accounted for 1.3%. The geriatric population is further estimated to increase and is anticipated to fuel the demand for hearing aids.
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Our clientele includes a mix of hearing aids market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the Mexico hearing aids market , including forecasts for subscribers. This country databook contains high-level insights into Mexico hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico hearing aids market size, by end use, 2018-2030 (US$M)
Mexico Hearing Aids Market Outlook Share, 2023 & 2030 (US$M)
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