Middle East & Africa Over-the-counter (otc) Hearing Aids Market Size & Outlook
Middle East & Africa over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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MEA over-the-counter (otc) hearing aids market highlights
- The MEA over-the-counter (otc) hearing aids market generated a revenue of USD 33.5 million in 2023.
- The market is expected to grow at a CAGR of 4.4% 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, South Africa is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 33.5 million |
| Market revenue in 2030 | USD 45.2 million |
| Growth rate | 4.4% (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, MEA region accounted for 3.0% 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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Middle East & Africa 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 32.84% in 2023. Horizon Databook has segmented the Middle East & Africa 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.
Economic growth and development are highly fragmented in the Middle Eastern Africa. Increasing prevalence of hearing disabilities among geriatric population, coupled with rising demand for technologically advanced cost-effective hearing solutions, is expected to propel market growth over the forecast period.
The general public shows low awareness of hearing impairment in many African countries, and there are very few screening programs due to lack of funding. In its 2021 World Report on Hearing, WHO estimated that 136 million people in WHO African region suffered from some degree of hearing loss.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa over-the-counter (otc) hearing aids market, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA over-the-counter (otc) hearing aids market size, by country, 2018-2030 (US$M)
Middle East & Africa Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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