Europe Over-the-counter (otc) Hearing Aids Market Size & Outlook
Europe over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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Europe over-the-counter (otc) hearing aids market highlights
- The Europe over-the-counter (otc) hearing aids market generated a revenue of USD 370.1 million in 2023.
- The market is expected to grow at a CAGR of 6.2% 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, France is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 370.1 million |
| Market revenue in 2030 | USD 563.7 million |
| Growth rate | 6.2% (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, Europe region accounted for 33.3% 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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Europe 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 32.86% in 2023. Horizon Databook has segmented the Europe 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 prevalence of hearing loss is one of the major factors driving the demand for hearing aids in Europe. In its 2021 World Report on Hearing, WHO predicted that 196 million people in WHO European region have some degree of hearing loss, with 57.3 million, or 6.2% of the population, having a moderate or higher grade hearing loss.
In Europe, 236 million people are expected to suffer from hearing loss by 2050. According to the EuroTrak Surveys conducted in multiple European nations, 35% of those who have hearing loss wear hearing aids. The usage and adoption of hearing aids are directly proportional to an increase in age & degree of hearing loss.
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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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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe over-the-counter (otc) hearing aids market, including forecasts for subscribers. This continent databook contains high-level insights into Europe over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe over-the-counter (otc) hearing aids market size, by country, 2018-2030 (US$M)
Europe Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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