Market revenue in 2023 | USD 40.6 million |
Market revenue in 2030 | USD 60.9 million |
Growth rate | 5.9% (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 |
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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 33% in 2023. Horizon Databook has segmented the Canada 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 the prevalence of hearing loss is one of the major health concerns in Canada. Hearing loss is often underdiagnosed and undertreated, which may lead to profound hearing loss or permanent ear damage.
According to 2021 article published in Statistics Canada, approximately 38% of adults aged between 20 years and 79 years suffered from hearing loss, while 37% had tinnitus. The same source showed that more men were suffering from impaired hearing as compared to women.
Thus, with high prevalence of hearing loss in the major demographic, the demand for OTC hearing aids in Canada is expected to increase over the coming years.
Horizon Databook provides a detailed overview of country-level data and insights on the Canada over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into Canada over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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