South Africa Over-the-counter (otc) Hearing Aids Market Size & Outlook
South Africa over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
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South Africa over-the-counter (otc) hearing aids market highlights
- The South Africa over-the-counter (otc) hearing aids market generated a revenue of USD 14.4 million in 2023 and is expected to reach USD 20.1 million by 2030.
- The South Africa market is expected to grow at a CAGR of 4.9% 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 14.4 million |
| Market revenue in 2030 | USD 20.1 million |
| Growth rate | 4.9% (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, South Africa 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 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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South 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 32.64% in 2023. Horizon Databook has segmented the South 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.
South Africa is one of the developed economies in the MEA. According to World Bank, in 2019, South Africa spent about 9.1% of its GDP on healthcare. Growing geriatric population, increasing prevalence of hearing impairment, and availability of advanced hearing devices are expected to positively influence market growth.
According to a study published in PubMed Central, the overall prevalence of hearing impairment was 19.88%, and for disabling hearing impairment was 8.94% in the country. This is further expected to fuel the demand for hearing aids in South Africa over the forecast period.
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Target buyers of South Africa 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 South Africa over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into South Africa over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
South Africa Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
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