Mexico Over-the-counter (otc) Hearing Aids Market Size & Outlook
Mexico over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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Mexico over-the-counter (otc) hearing aids market highlights
- The Mexico over-the-counter (otc) hearing aids market generated a revenue of USD 14.0 million in 2023 and is expected to reach USD 21.8 million by 2030.
- The Mexico 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 14.0 million |
| Market revenue in 2030 | USD 21.8 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, Mexico accounted for 1.3% 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 Latin America, Brazil over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in Latin America and is projected to reach USD 21.8 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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Mexico 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 Mexico 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.
Rise in disposable income, technological advancements in hearing aids, and presence of a large population suffering from mild-to-moderate hearing loss are boosting Mexico’s market. However, market penetration rate of hearing devices is low in this country.
Aging population and increasing incidence of hearing impairment are expected to drive the market in Mexico. According to UN, the population of Mexico in 2018 was 131.3 million, of which, people aged 65 years and above accounted for 6.8% and people aged 80 years & above accounted for 1.3%.
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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 country-level data and insights on the Mexico over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into Mexico over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
Mexico Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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