North America Hearing Aids Market Size & Outlook
North America hearing aids market, 2018-2030 (US$M)
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North America hearing aids market highlights
- The North America hearing aids market generated a revenue of USD 1,744.1 million in 2023.
- The market is expected to grow at a CAGR of 5.8% 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.
- Country-wise, Canada is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 1,744.1 million |
| Market revenue in 2030 | USD 2,587.9 million |
| Growth rate | 5.8% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | OUTPATIENT FACILITIES |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 27.6% of the global hearing aids market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 2,838.0 million by 2030.
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Hearing Aids Market Scope
Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America 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 79.97% in 2023. Horizon Databook has segmented the North America hearing aids market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
According to WHO, as of 2018, about 17.7 million Americans were suffering from hearing loss and the number is expected to increase owing to presence of large geriatric population and an increase in incidence of ototoxicity & ear infections. As of 2018, the adoption of hearing aids was low in North America.
Out of 17.7 million patients with hearing loss, about 50% do not use hearing aids due to limited coverage for hearing aids in the U.S. Independent retailers and optical chains that sell hearing aids in North America include Costco retail and Specsavers.
The number of company-owned retail stores selling hearing aids is increasing at a faster rate than traditional retail stores due to high retail profit margin on hearing aids. Some of the companies operating in North America hearing aids market are Benson Hearing, GN Hearing, Phonak, Medtronic, Starkey, William Demant Holding A/S, and WIDEX USA, INC.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America hearing aids market , including forecasts for subscribers. This continent databook contains high-level insights into North America hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America hearing aids market
North America Hearing Aids Market Outlook Share, 2023 & 2030 (US$M)
North America hearing aids market
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