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OTC Hearing Aids Market Share

Report ID: GMI5573
Published Date: Jan 2024
Report Format: PDF

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OTC Hearing Aids Market Share

The OTC hearing aids industry is fragmented in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced products based on different technologies is among a key market strategy. Some of the leading industry players including Sonova Holding AG, GN Hearing A/S (GN Group), and WS Audiology Denmark A/S among others have a notable presence in the market.

OTC Hearing Aids Market Companies

Some of the eminent market participants operating in the OTC hearing aids industry include:

Audicus
Audien Hearing
Austar Hearing Science and Technology (Xiamen) Co., Ltd
Eargo Inc
GN Hearing A/S (GN Group)
Hangzhou AcoSound Technology Co., Ltd
HearX Group (pty) LTD (Lexie Hearing)
InnerScope Hearing Technologies Inc
Lucid Hearing (HEARING LAB TECHNOLOGY, LLC)
MD Hearing
Neuheara Limited
Nuvomed Inc
Sonova Holding AG
SoundWave Hearing, LLC
Starkey
WS Audiology Denmark A/S
Xiamen Melosound Technology Co.Ltd

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

OTC hearing aids industry size recorded USD 374.5 million in 2023 and is expected to register 5.8% CAGR from 2024 to 2032, owing to the rising geriatric population base along with the high disease burden of hearing loss.

Preset OTC hearing aids industry recorded 60.5% revenue share in 2023 and is expected to grow at a 6% CAGR through 2032, due to their user-friendly & easy-to operate features along with increased usage among patients with hearing difficulty.

North America accounted for 42.6% revenue share of the OTC hearing aids industry in 2023 and is expected to expand at 5.9% CAGR from 2024 to 2032, driven by the significant occurrence of hearing impairment, rising rate of product adoption, and growing awareness regarding hearing loss.

Audicus, Audien Hearing, Austar Hearing Science and Technology (Xiamen) Co., Ltd, Eargo Inc, GN Hearing A/S (GN Group), Hangzhou AcoSound Technology Co., Ltd, HearX Group (pty) LTD (Lexie Hearing), InnerScope Hearing Technologies Inc, Lucid Hearing (HEARING LAB TECHNOLOGY, LLC), MD Hearing, Neuheara Limited, Nuvomed Inc, Sonova Holding AG, SoundWave Hearing, LLC, Starkey, WS Audiology Denmark A/S, Xiamen Melosound Technology Co.Ltd. are some of the major OTC hearing aids companies worldwide.