Australia Over-the-counter (otc) Hearing Aids Market Size & Outlook
Australia over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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Australia over-the-counter (otc) hearing aids market highlights
- The Australia over-the-counter (otc) hearing aids market generated a revenue of USD 36.8 million in 2023 and is expected to reach USD 60.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 7.5% 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.
Over-the-counter (otc) hearing aids market data book summary
| Market revenue in 2023 | USD 36.8 million |
| Market revenue in 2030 | USD 60.9 million |
| Growth rate | 7.5% (CAGR from 2023 to 2030) |
| Largest segment | Canal hearing aids |
| Fastest growing segment | Behind-the-Ear Hearing Aids |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 3.3% of the global over-the-counter (otc) hearing aids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 82.1 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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Australia 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 32.88% in 2023. Horizon Databook has segmented the Australia 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.
Increase in disposable income, innovations in hearing aids, and presence of a significant population suffering from mild-to-moderate hearing loss are key factors boosting Australia’s market.
In addition, as Australia's population ages, it is anticipated that the number of individuals with a hearing impairment will reach around 7.8 million by 2060. Australia's market is anticipated to be driven by several factors, including an aging population and a growing prevalence of hearing impairments.
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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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Horizon Databook provides a detailed overview of country-level data and insights on the Australia over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into Australia over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
Australia Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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