North America Over-the-counter (otc) Hearing Aids Market Size & Outlook
North America over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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North America over-the-counter (otc) hearing aids market highlights
- The North America over-the-counter (otc) hearing aids market generated a revenue of USD 392.2 million in 2023.
- The market is expected to grow at a CAGR of 6.8% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 392.2 million |
| Market revenue in 2030 | USD 621.1 million |
| Growth rate | 6.8% (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, North America region accounted for 35.3% 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 |
|---|
North America 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 33.04% in 2023. Horizon Databook has segmented the North America 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.
According to a National Institute on Deafness and Other Communicative Disorders article, approximately 18% of the U.S. population between the ages of 20 years and 69 years suffers from speech-frequency hearing loss in one or both ears.
More than 28 million people could benefit from hearing aids, according to the article, which is expected to contribute to the growth of the regional market. Independent retailers that sell hearing aids in North America include Costco retail, Walmart, and Walgreens.
The number of company-owned retail stores selling hearing aids is also increasing at a faster rate than traditional retail stores due to high retail profit margin on hearing aids.
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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 North America over-the-counter (otc) hearing aids market, including forecasts for subscribers. This continent databook contains high-level insights into North America over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America over-the-counter (otc) hearing aids market size, by country, 2018-2030 (US$M)
North America Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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