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Over-The-Counter Hearing Aids Market Size, Share & Trends Analysis Report By Product Type, By Technology Type (Digital Hearing Aids, Analog Hearing Aids), By Region, And Segment Forecasts, 2023 - 2030

November 2022 | 80 pages | ID: OFBDAE5601A6EN
Grand View Research, Inc.

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Over-The-Counter Hearing Aids Market Growth & Trends

The global over-the-counter hearing aids market size is expected to reach USD 1.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.7% for the forecast period of 2023-2030. The availability of advanced devices in the market combined with the rising prevalence of mild and moderate hearing loss among the population globally is expected to contribute to the market growth.

The growth of the market is attributed to the increasing prevalence of this disorder among the population. According to an article by National Institute on Deafness and Other Communication Disorders dated March 2021, more than 37.5 million people in the U.S. had some trouble hearing which is expected to drive the demand for these devices. Moreover, the rising geriatric population base globally is expected to further drive the demand for the devices as the prevalence of the condition increases with age.

Favorable government initiatives undertaken by governments in order to increase awareness about the devices is expected to further drive the demand for the devices during the forecast period. In October 2021, FDA passed an order wherein FDA formally approved a new class of over-the-counter (OTC) hearing aids for patients suffering from mild to moderate hearing loss. Under this law, consumers will be able to buy these devices from stores or online retailers without the need for prescriptions. The law is also expected to reduce the prices of the devices. The FDA has established regulations and guidelines for the manufacturers wherein the manufacturers need to ensure the devices are safe and effective for people with the condition. The manufacturers also need to set standards for the packaging wherein they need to specify the benefits of the devices, patients who can benefit from the devices along with the warnings and information the patients need to know before buying these devices.

Moreover, partnerships and other initiatives undertaken by the key players is expected to drive the growth of the market during the forecast period. Several players in the market entered the new segment of the devices by launching innovative products. For instance, in October 2022, Lucid Hearing launched a range of behind-the-ear OTC hearing aids, which are available in various styles, fits, and battery options while catering to a range of budgets.

Over-The-Counter Hearing Aids Market Report Highlights
  • In 2022, canal hearing aids segment dominated the market with a share of 33.0%. factors such as invisible design and enhanced performance contributed to the growth of the segment
  • In 2022, the digital technology segment held 92.1% share owing to higher investments in R&D, higher efficiency in amplification of sound in difficult conditions, and availability of multiple program settings which improve the performance of the device
  • In 2022, North America dominated the regional segment with a share of 35.2%. Favorable government initiatives undertaken in order to increase awareness about hearing disorders and higher disposable income of the population are some of the factors driving the growth of the market
CHAPTER 1. METHODOLOGY AND SCOPE

1.1. Market Segmentation and Scope
1.2. Market Definition
1.3. Research Methodology
  1.3.1. Information Procurement
    1.3.1.1. Purchased database
    1.3.1.2. GVR’s internal database
  1.3.2. Primary Research
1.4. Research Scope and Assumptions
1.5. List of Data Sources

CHAPTER 2. EXECUTIVE SUMMARY

2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
2.4. OTC Hearing Aids Market

CHAPTER 3. OTC HEARING AIDS MARKET VARIABLES, TRENDS, & SCOPE

3.1. Penetration and Growth Prospect Mapping
3.2. Market Dynamics
3.3. OTC Hearing Aids Market Analysis Tools
  3.3.1. Industry Analysis - Porter’s
    3.3.1.1. Bargaining power of the suppliers
    3.3.1.2. Bargaining power of the buyers
    3.3.1.3. Threats of substitution
    3.3.1.4. Threats from new entrants
    3.3.1.5. Competitive rivalry
  3.3.2. PESTEL Analysis
    3.3.2.1. Political landscape
    3.3.2.2. Economic and Social landscape
    3.3.2.3. Technological landscape
  3.3.3. Major Deals & Strategic Alliances Analysis

CHAPTER 4. OTC HEARING AIDS MARKET: PRODUCT TYPE ESTIMATES & TREND ANALYSIS

4.1. Definitions & Scope
4.2. OTC Hearing Aids Market: Product Type Movement Analysis, USD Million, 2022 & 2030
4.3. In-the-Ear Hearing Aids
  4.3.1. In-the-Ear Hearing Aids market estimates and forecasts, 2018 - 2030 (USD Million)
4.4. Receiver-in-the-Ear Hearing Aids
  4.4.1. Receiver-in-the-Ear Hearing Aids market estimates and forecasts, 2018 - 2030 (USD Million)
4.5. Behind-the-Ear Hearing Aids
  4.5.1. Behind-the-Ear Hearing Aids market estimates and forecasts, 2018 - 2030 (USD Million)
4.6. Canal Hearing Aids
  4.6.1. Canal Hearing Aids market estimates and forecasts, 2018 - 2030 (USD Million)

CHAPTER 5. OTC HEARING AIDS MARKET: TECHNOLOGY TYPE ESTIMATES & TREND ANALYSIS

5.1. Definitions and Scope
5.2. OTC Hearing Aids Market: Technology Type Movement Analysis, USD Million, 2022 & 2030
5.3. Digital Hearing Aids
  5.3.1. Digital Hearing Aids market estimates and forecasts, 2018 - 2030 (USD Million)
5.4. Analog Hearing Aids
  5.4.1. Analog Hearing Aids market estimates and forecasts, 2018 - 2030 (USD Million)

CHAPTER 6. OTC HEARING AIDS MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

6.1. Regional Market Snapshot
6.2. OTC Hearing Aids Market: Regional Movement Analysis
6.3. North America
  6.3.1. North America market estimates and forecasts, by product type 2018 - 2030 (USD Million)
  6.3.2. North America market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.3.3. U.S.
    6.3.3.1. U.S. market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.3.3.2. U.S. market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.3.4. Canada
    6.3.4.1. Canada market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.3.4.2. Canada market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
6.4. Europe
  6.4.1. Europe market estimates and forecasts, by product type 2018 - 2030 (USD Million)
  6.4.2. Europe market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.4.3. Germany
    6.4.3.1. Germany market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.4.3.2. Germany market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.4.4. U.K.
    6.4.4.1. U.K. market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.4.4.2. U.K. market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.4.5. France
    6.4.5.1. France market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.4.5.2. France market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.4.6. Italy
    6.4.6.1. Italy market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.4.6.2. Italy market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.4.7. Spain
    6.4.7.1. Spain market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.4.7.2. Spain market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.4.8. Denmark
    6.4.8.1. Denmark market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.4.8.2. Denmark market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
6.5. Asia Pacific
  6.5.1. Asia Pacific market estimates and forecasts, by product type 2018 - 2030 (USD Million)
  6.5.2. Asia Pacific market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.5.3. Japan
    6.5.3.1. Japan market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.5.3.2. Japan market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.5.4. China
    6.5.4.1. China market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.5.4.2. China market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.5.5. India
    6.5.5.1. India market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.5.5.2. India market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.5.6. Australia
    6.5.6.1. Australia market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.5.6.2. Australia market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.5.7. South Korea
    6.5.7.1. South Korea market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.5.7.2. South Korea market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
6.6. Latin America
  6.6.1. Latin America market estimates and forecasts, by product type 2018 - 2030 (USD Million)
  6.6.2. Latin America market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.6.3. Brazil
    6.6.3.1. Brazil market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.6.3.2. Brazil market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.6.4. Mexico
    6.6.4.1. Mexico market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.6.4.2. Mexico market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.6.5. Argentina
    6.6.5.1. Argentina market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.6.5.2. Argentina market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
6.7. MEA
  6.7.1. MEA market estimates and forecasts, by product type 2018 - 2030 (USD Million)
  6.7.2. MEA market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.7.3. South Africa
    6.7.3.1. South Africa market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.7.3.2. South Africa market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.7.4. Saudi Arabia
    6.7.4.1. Saudi Arabia market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.7.4.2. Saudi Arabia market estimates and forecasts, by technology type 2018 - 2030 (USD Million)
  6.7.5. UAE
    6.7.5.1. UAE market estimates and forecasts, by product type 2018 - 2030 (USD Million)
    6.7.5.2. UAE market estimates and forecasts, by technology type 2018 - 2030 (USD Million)

CHAPTER 7. OTC HEARING AIDS MARKET - COMPETITIVE LANDSCAPE

7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Competition Categorization
7.3. Vendor Landscape
  7.3.1. Public Companies
  7.3.2. Private Companies

CHAPTER 8. COMPANY PROFILES

8.1. Eargo Inc.
  8.1.1. Company overview
  8.1.2. Financial performance
  8.1.3. Product benchmarking
  8.1.4. Strategic initiatives
8.2. Jabra
  8.2.1. Company overview
  8.2.2. Financial performance
  8.2.3. Product benchmarking
  8.2.4. Strategic initiatives
8.3. Bose
  8.3.1. Company overview
  8.3.2. Financial performance
  8.3.3. Product benchmarking
  8.3.4. Strategic initiatives
8.4. MD Hearing
  8.4.1. Company overview
  8.4.2. Financial performance
  8.4.3. Product benchmarking
  8.4.4. Strategic initiatives
8.5. Lively
  8.5.1. Company overview
  8.5.2. Financial performance
  8.5.3. Product benchmarking
  8.5.4. Strategic initiatives
8.6. Audicus
  8.6.1. Company overview
  8.6.2. Financial performance
  8.6.3. Product benchmarking
  8.6.4. Strategic initiatives
LIST OF TABLES

Table 1 Factors used in segment share estimation
Table 2 List of secondary data sources
Table 3 Primary interview details, by source
Table 4 Primary interview details, by region
Table 5 North America market estimates and forecasts, by country, 2018 - 2030 (USD Million)
Table 6 North America market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 7 North America market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 8 U.S. market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 9 U.S. market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 10 Canada market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 11 Canada market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 12 Europe market estimates and forecasts, by country, 2018 - 2030 (USD Million)
Table 13 Europe market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 14 Europe market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 15 Germany market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 16 Germany market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 17 U.K. market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 18 U.K. market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 19 France market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 20 France market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 21 Italy market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 22 Italy market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 23 Spain market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 24 Spain market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 25 Denmark market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 26 Denmark market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 27 Asia Pacific market estimates and forecasts, by country, 2018 - 2030 (USD Million)
Table 28 Asia Pacific market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 29 Asia Pacific market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 30 Japan market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 31 Japan market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 32 China market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 33 China market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 34 India market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 35 India market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 36 Australia market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 37 Australia market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 38 Latin America market estimates and forecasts, by country, 2018 - 2030 (USD Million)
Table 39 Latin America market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 40 Latin America market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 41 Brazil market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 42 Brazil market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 43 Mexico market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 44 Mexico market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 45 Argentina market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 46 Argentina market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 47 MEA market estimates and forecasts, by country, 2018 - 2030 (USD Million)
Table 48 MEA market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 49 MEA market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 50 South Africa market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 51 South Africa market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 52 Saudi Arabia market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 53 Saudi Arabia market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
Table 54 UAE market estimates and forecasts, by product type, 2018 - 2030 (USD Million)
Table 55 UAE market estimates and forecasts, by technology type, 2018 - 2030 (USD Million)
LIST OF FIGURES

Fig. 1 Market research process
Fig. 2 Data Triangulation Techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain-based sizing & forecasting
Fig. 6 QFD modelling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Market Snapshot
Fig. 9 OTC Hearing Aids Market variables, trends & scope
Fig. 10 Penetration & Growth Prospect Mapping
Fig. 11 Technology Timeline (Transition / various technology adoption past & future predictions)
Fig. 12 Market driver relevance analysis (Current & future impact)
Fig. 13 Market restraint relevance analysis (Current & future impact)
Fig. 14 Company/Competition Categorization
Fig. 15 Key company market share analysis, 2022
Fig. 16 Company market position analysis (Public companies)
Fig. 17 Company Market Share/Ranking, by region
Fig. 18 Market Differentiators
Fig. 19 Company market position analysis (Private companies)
Fig. 20 Product type market share analysis, 2022 & 2030
Fig. 21 Segment Dashboard
Fig. 22 In-the-Ear hearing aids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 23 Receiver-in-the-Ear hearing aids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 24 Behind-the-Ear hearing aids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 25 Canal hearing aids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 26 Technology type market share analysis, 2022 & 2030
Fig. 27 Segment Dashboard
Fig. 28 Digital hearing aids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 29 Analog hearing aids market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 30 Regional marketplace: Key takeaways
Fig. 31 OTC Hearing Aids Market: Regional outlook, 2021 & 2030 (USD Million)
Fig. 32 North America market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 33 U.S. market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 34 Canada market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 35 Europe market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 36 Germany market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 37 U.K. market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 38 France market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 39 Italy market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 40 Spain market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 41 Denmark market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 42 Asia Pacific market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 43 Japan market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 44 China market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 45 India market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 46 Australia market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 47 South Korea market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 48 Latin America market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 49 Brazil market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 50 Mexico market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 51 Argentina market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 52 MEA market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 53 South Africa market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 54 Saudi Arabia market revenue estimates and forecasts, 2018 - 2030 (USD Million)
Fig. 55 UAE market revenue estimates and forecasts, 2018 - 2030 (USD Million)


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