Asia Pacific Over-the-counter (otc) Hearing Aids Market Size & Outlook
Asia Pacific over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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Asia Pacific over-the-counter (otc) hearing aids market highlights
- The Asia Pacific over-the-counter (otc) hearing aids market generated a revenue of USD 248.1 million in 2023.
- The market is expected to grow at a CAGR of 7.3% from 2024 to 2030.
- In terms of segment, canal hearing aids was the largest revenue generating product in 2023.
- Behind-the-Ear Hearing Aids is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 248.1 million |
| Market revenue in 2030 | USD 407.1 million |
| Growth rate | 7.3% (CAGR from 2023 to 2030) |
| Largest segment | Canal hearing aids |
| Fastest growing segment | Behind-the-Ear Hearing Aids |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | In-the-Ear Hearing Aids, Receiver-in-the-Ear Hearing Aids, Behind-the-Ear Hearing Aids, Canal Hearing Aids |
| Key market players worldwide | PatientPop, GN Store Nord A/S, Sony Group Corp, Audicus, Lexie Hearing |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 22.3% of the global over-the-counter (otc) hearing aids market in 2023.
- Globally, North America 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 407.1 million by 2030.
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Over-The-Counter (OTC) Hearing Aids Market Scope
Over-The-Counter (OTC) Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific over-the-counter (otc) 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 over-the-counter (otc) hearing aids market will help companies and investors design strategic landscapes.
Canal hearing aids was the largest segment with a revenue share of 32.89% in 2023. Horizon Databook has segmented the Asia Pacific over-the-counter (otc) hearing aids market based on in-the-ear hearing aids, receiver-in-the-ear hearing aids, behind-the-ear hearing aids, canal hearing aids covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is primarily driven by China and Japan. Japan dominated the OTC hearing aid market in terms of revenue share in 2022. This can be attributed to local presence of major market players and large geriatric population. China is anticipated to be the fastest-growing market during the forecast period in Asia Pacific, with South Korea and India as some of the key emerging economies.
Asia has the highest population density in the world and most likely the largest number of individuals with hearing loss. In its 2021 World Report on Hearing, WHO predicted that 401 million people in the WHO Southeastern Asia have some degree of hearing loss, and 109.4 million individuals, or 5.5% of the population, have moderate or severe hearing loss.
Major market players are continually developing improved products, adding to the benefits of hearing aids for hearing impaired consumers and driving the acceptance of these devices in this region. Other factors driving the OTC hearing aids market in Asia Pacific include growing disposable income and rising awareness & healthcare expenditure in this region.
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Target buyers of Asia Pacific over-the-counter (otc) hearing aids market databook
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Our clientele includes a mix of over-the-counter (otc) 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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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific over-the-counter (otc) hearing aids market, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific over-the-counter (otc) hearing aids market size, by country, 2018-2030 (US$M)
Asia Pacific Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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