Canada Over-the-counter (otc) Hearing Aids Market Size & Outlook

The over-the-counter (otc) hearing aids market in Canada is expected to reach a projected revenue of US$ 60.9 million by 2030. A compound annual growth rate of 5.9% is expected of Canada over-the-counter (otc) hearing aids market from 2024 to 2030.
Revenue, 2023 (US$M)
$40.6
Forecast, 2030 (US$M)
$60.9
CAGR, 2024 - 2030
6%
Report Coverage
Canada

Canada over-the-counter (otc) hearing aids market, 2018-2030 (US$M)

Canada

Canada over-the-counter (otc) hearing aids market highlights

  • The Canada over-the-counter (otc) hearing aids market generated a revenue of USD 40.6 million in 2023 and is expected to reach USD 60.9 million by 2030.
  • The Canada market is expected to grow at a CAGR of 5.9% 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 2023USD 40.6 million
Market revenue in 2030USD 60.9 million
Growth rate5.9% (CAGR from 2023 to 2030)
Largest segmentCanal hearing aids
Fastest growing segmentBehind-the-Ear Hearing Aids
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationIn-the-Ear Hearing Aids, Receiver-in-the-Ear Hearing Aids, Behind-the-Ear Hearing Aids, Canal Hearing Aids
Key market players worldwidePatientPop, GN Store Nord A/S, Sony Group Corp, Audicus, Lexie Hearing


Other key industry trends

  • In terms of revenue, Canada accounted for 3.7% 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 North America, U.S. over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
  • U.S. is the fastest growing regional market in North America and is projected to reach USD 560.2 million by 2030.

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Over-The-Counter (OTC) Hearing Aids Market Companies

Name Profile # Employees HQ Website

Canada 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 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.

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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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Canada over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)

Canada Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)

Canada over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)

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