Saudi Arabia Over-the-counter (otc) Hearing Aids Market Size & Outlook
Saudi Arabia over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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Saudi Arabia over-the-counter (otc) hearing aids market highlights
- The Saudi Arabia over-the-counter (otc) hearing aids market generated a revenue of USD 4.8 million in 2023 and is expected to reach USD 6.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 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.
Over-the-counter (otc) hearing aids market data book summary
| Market revenue in 2023 | USD 4.8 million |
| Market revenue in 2030 | USD 6.3 million |
| Growth rate | 4% (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, Saudi Arabia accounted for 0.4% 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 Middle East & Africa, South Africa over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 20.1 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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Saudi Arabia 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 33.33% in 2023. Horizon Databook has segmented the Saudi Arabia 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.
Saudi Arabia’s OTC hearing aids market is expected to grow at a fast pace, owing to improving healthcare infrastructure, increasing diagnosis rate of heading disorders, and rise in awareness among the population regarding advanced hearing devices.
Furthermore, the rise in prevalence of hearing loss among the geriatric population is expected to further fuel the demand for hearing aids in Saudi Arabia over the forecast period.
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Target buyers of Saudi Arabia over-the-counter (otc) hearing aids market databook
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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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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
Saudi Arabia Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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