South Africa Hearing Aids Market Size & Outlook, 2023-2030
South Africa hearing aids market, 2018-2030 (US$M)
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South Africa hearing aids market highlights
- The South Africa hearing aids market generated a revenue of USD 21.6 million in 2023 and is expected to reach USD 36.9 million by 2030.
- The South Africa market is expected to grow at a CAGR of 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.
Hearing aids market data book summary
| Market revenue in 2023 | USD 21.6 million |
| Market revenue in 2030 | USD 36.9 million |
| Growth rate | 8% (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, South Africa accounted for 0.3% 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 Middle East & Africa, South Africa hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 35.8 million by 2030.
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Hearing Aids Market Scope
Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa 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 79.63% in 2023. Horizon Databook has segmented the South Africa hearing aids market based on hospitals, outpatient facilities covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa is one of the developed economies in MEA region. According to Future Health Index, in 2017, South Africa spent about 8.8% of its GDP on healthcare. Growing geriatric population coupled with increasing prevalence of hearing impairment and availability of advanced hearing devices are expected to positively influence market growth.
According to South African Hearing Institute, about 7.5% of children suffer from hearing loss of varying degrees, owing to factors such as measles, meningitis, and otitis media. This is further expected to fuel the demand for hearing aids in South Africa over the forecast period.
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Our clientele includes a mix of hearing aids market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Africa hearing aids market , including forecasts for subscribers. This country databook contains high-level insights into South Africa hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa hearing aids market size, by end use, 2018-2030 (US$M)
South Africa Hearing Aids Market Outlook Share, 2023 & 2030 (US$M)
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