U.S. Over-the-counter (otc) Hearing Aids Market Size & Outlook
U.S. over-the-counter (otc) hearing aids market, 2018-2030 (US$M)
Related Markets
U.S. over-the-counter (otc) hearing aids market highlights
- The U.S. over-the-counter (otc) hearing aids market generated a revenue of USD 351.7 million in 2023 and is expected to reach USD 560.2 million by 2030.
- The U.S. market is expected to grow at a CAGR of 6.9% 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 351.7 million |
| Market revenue in 2030 | USD 560.2 million |
| Growth rate | 6.9% (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, U.S. accounted for 31.6% 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 North America, U.S. over-the-counter (otc) hearing aids market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 560.2 million by 2030.
No credit card required*
Horizon in a snapshot
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
Over-The-Counter (OTC) Hearing Aids Market Scope
Over-The-Counter (OTC) Hearing Aids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. 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 U.S. 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.
Several factors are anticipated to drive the demand for hearing aids in the U.S., including favorable government initiatives, a high prevalence of hearing loss, the easy availability of OTC hearing aids, and rising adoption. In 2021, the U.S. FDA approved the sale of OTC hearing aids, allowing citizens to purchase hearing aids without consulting an audiologist and possibly reducing their overall healthcare expenditure.
Exposure to loud noises, aging, medical conditions, and other factors contribute to hearing loss. Hearing aids can help make speech & sounds louder and allow people to better communicate. In addition, OTC hearing aids are nearly 50% more costeffective than prescription hearing aids.
Reasons to subscribe to U.S. over-the-counter (otc) hearing aids market databook:
-
Access to comprehensive data: Horizon Databook provides over 1 million market statistics and 20,000+ reports, offering extensive coverage across various industries and regions.
-
Informed decision making: Subscribers gain insights into market trends, customer preferences, and competitor strategies, empowering informed business decisions.
-
Cost-Effective solution: It's recognized as the world's most cost-effective market research database, offering high ROI through its vast repository of data and reports.
-
Customizable reports: Tailored reports and analytics allow companies to drill down into specific markets, demographics, or product segments, adapting to unique business needs.
-
Strategic advantage: By staying updated with the latest market intelligence, companies can stay ahead of competitors, anticipate industry shifts, and capitalize on emerging opportunities.
Target buyers of U.S. over-the-counter (otc) hearing aids market databook
-
Our clientele includes a mix of over-the-counter (otc) hearing aids market companies, investment firms, advisory firms & academic institutions.
-
30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
-
Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
-
The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. over-the-counter (otc) hearing aids market, including forecasts for subscribers. This country databook contains high-level insights into U.S. over-the-counter (otc) hearing aids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
U.S. over-the-counter (otc) hearing aids market size, by product, 2018-2030 (US$M)
U.S. Over-The-Counter (OTC) Hearing Aids Market Share, 2023 & 2030 (US$M)
Related industry reports
Related regional statistics
Sign up - it's easy, and free!
Sign up and get instant basic access to databook, upgrade
when ready, or enjoy our
free plan indefinitely.
Included in Horizon account
- 30K+ Global Market Reports
- 120K+ Country Reports
- 1.2M+ Market Statistics
- 200K+ Company Profiles
- Industry insights and more
