Germany Over-the-counter (otc) Hearing Aids Market Size & Outlook
Germany over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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Germany over-the-counter (otc) hearing aids market highlights
- The Germany over-the-counter (otc) hearing aids market generated a revenue of USD 87.3 million in 2023 and is expected to reach USD 135.3 million by 2030.
- The Germany market is expected to grow at a CAGR of 6.5% 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 87.3 million |
| Market revenue in 2030 | USD 135.3 million |
| Growth rate | 6.5% (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, Germany accounted for 7.8% 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 Europe, UK over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- France is the fastest growing regional market in Europe and is projected to reach USD 98.7 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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Germany 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 Germany 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.
A strong correlation exists between age and hearing loss. The high prevalence of hearing loss in Germany can be attributed to the large geriatric population in the country. Germany is one of the largest markets for hearing aids with a high sales volume. As per the Euro Trak Germany 2018 survey, one in eight Germans responded that they were suffering from hearing impairment.
In the surveys, nearly 37% of those who claimed to have a hearing impairment used hearing aids. The rapidly aging population in Germany is expected to drive the hearing aids market.
The Federal Statistical Office estimates that by 2035, the number of Germans aged 67 years or older (the official retirement age) will increase to approximately 20 million, which would be an increase of 22% over the 16 million people recorded in 2020.
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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 Germany over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into Germany over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Germany over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
Germany Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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