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North America Hearing Aids Market Forecast to 2030 - Regional Analysis - by Type, Product Type, Technology, Type Of Hearing Loss, Patient Type, and Distribution Channel

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    Report

  • 96 Pages
  • April 2024
  • Region: North America
  • The Insight Partners
  • ID: 5976988
The North America hearing aids market was valued at US$10.22 billion in 2022 and is expected to reach US$15.45 billion by 2030; it is estimated to register a CAGR of 5.3% from 2022 to 2030.

Rising Incidence of Hearing Loss Fuels North America Hearing Aids Market

Hearing loss profoundly impacts every dimension of the human experience, including physical, emotional, and mental health. The rising geriatric population contributes to the growing number of people with hearing loss, as the risk of hearing loss is higher in this age group. According to the World Health Organization (WHO), there were nearly 1 billion people in 2020 aged 60 years and above globally, which is expected to reach 1.4 billion by the end of 2030 and is projected to reach 2.1 billion by 2050. As per WHO, ~5% of the global population (432 million people) will require rehabilitation to address their hearing loss in 2023, which is expected to reach over 700 million by the end of 2050. Although hearing loss is more common among aged people, people of all ages can be affected. Exposure to excessive noise is one of the leading causes of hearing loss for millions of young and old Americans. Both short-term and repeated noise exposure can cause lasting damage to the inner ear, resulting in permanent hearing loss. It's a particular risk for people working around loud noises. According to the Hearing Loss Association of America (HLAA), Hearing Loss Facts and Statistics, ~22 million US workers are exposed to dangerous noise levels in their workplaces yearly. The same source further stated that one out of five men and one of eight women in the country report hearing trouble. When left untreated, hearing loss can worsen with time. Hearing aids can significantly improve an individual's quality of life by providing auditory stimuli that could have been lost or reduced due to loss of hearing. Thus, the rising prevalence of hearing loss, wholly or partially, is a key factor boosting the demand for hearing aid devices among the population, thereby driving the growth of the hearing aids market.

North America Hearing Aids Market Overview

As per the National Institute on Deafness and Other Communication Disorders, ~30 million people or 13% of the US population aged 12 years and above was experiencing hearing loss in one or both ears in 2021. As per the same source, ~28.8 million people in the US could benefit from the use of hearing aids. Country has presence of the leading global market players, which are focused on product development and launches. Furthermore, FDA approval for OTC hearing aids is expected to create ample opportunities in the market. In October 2023, Audien Hearing launched the world's first FDA-compliant hearing aid sold over-the-counter (OTC)-ATOM ONE-for less than US$ 100. The ATOM ONE would allow millions of people suffering from hearing loss to walk in and purchase an economical device suiting their or their loved ones' needs. In October 2023, ELEHEAR, a provider of AI-powered hearing aids and audio solutions, introduced its first OTC hearing aid devices-the ELEHEAR Alpha and ELEHEAR Alpha Pro. Therefore, increasing prevalence of hearing impairment among large populations, new product launches, and availability of OTC hearing aids at economical pricing favors the market growth in the US.

North America Hearing Aids Market Segmentation

The North America hearing aids market is segmented based on type, product type, technology, type of hearing loss, patient type, distribution channel, and country. Based on type, the North America hearing aids market is bifurcated into prescription hearing aids and OTC hearing aids. The prescription hearing aids segment held a larger market share in 2022.

In terms of product type, the North America hearing aids market is bifurcated into hearing aid devices and hearing implants. The hearing aid devices segment held a larger market share in 2022. Furthermore, the hearing aid devices segment is subsegmented into behind-the-ear (BTE) hearing aid, in-the-ear (ITE) hearing aid, receiver-in-the-ear (RITE) hearing aid, canal hearing aid, and others. Additionally, the hearing implants segment is bifurcated into cochlear implants and bone conduction implants.

By technology, the North America hearing aids market is bifurcated into conventional hearing aids and digital hearing aids. The conventional hearing aids segment held a larger market share in 2022.

Based on type of hearing loss, the North America hearing aids market is bifurcated into sensorineural hearing loss and conductive hearing loss. The sensorineural hearing loss segment held a larger market share in 2022.

Based on patient type, the North America hearing aids market is bifurcated into adults and pediatric. The adults segment held a larger market share in 2022.

Based on distribution channel, the North America hearing aids market is segmented into pharmacies, retail stores, and online. The pharmacies segment held the largest market share in 2022.

Based on country, the North America hearing aids market is segmented into the US, Canada, and Mexico. The US dominated the North America hearing aids market share in 2022.

Starkey Laboratories Inc., Audina Hearing Instruments Inc, Sebotek Hearing Systems LLC, Earlens Corp, GN Store Nord AS, Cochlear Ltd, WS Audiology AS, Sonova Holding AG, Sonic Innovations Inc, and Amplifon Hearing Health Care Corp. are some of the leading companies operating in the North America hearing aids market.

Table of Contents

1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Hearing Aids Market - Key Industry Dynamics
4.1 Market Drivers
4.1.1 Rising Incidence of Hearing Loss
4.1.2 Growing Strategic Initiatives by the Companies
4.2 Market Restraints
4.2.1 High Cost of Customized and Prescribed Hearing Aids
4.3 Market Opportunities
4.3.1 Approval of Over-The-Counter Hearing Aids
4.4 Future Trends
4.4.1 Technological Innovations in Hearing Aids
4.5 Impact Analysis
5. Hearing Aids Market - North America Market Analysis
5.1 Overview
5.2 North America Hearing Aids Market Revenue (US$ Mn), 2022 - 2030
6. North America Hearing Aids Market - Revenue and Forecast to 2030 - by Type
6.1 Overview
6.2 North America Hearing Aids Market Revenue Share, by Type 2022 & 2030 (%)
6.3 Prescription Hearing Aids
6.3.1 Overview
6.3.2 Prescription Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
6.4 OTC Hearing Aids
6.4.1 Overview
6.4.2 OTC Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
7. North America Hearing Aids Market - Revenue and Forecast to 2030 - by Product Type
7.1 Overview
7.2 Hearing Aids Market Revenue Share, by Product Type 2022 & 2030 (%)
7.3 Hearing Aid Devices
7.3.1 Overview
7.3.2 Hearing Aid Devices: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
7.3.2.1 Hearing Aids Market - Hearing Aid Devices Revenue and Forecast to 2030 (US$ Million)
7.4 Hearing Implants
7.4.1 Overview
7.4.2 Hearing Implants: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
7.4.2.1 Hearing Aids Market - Hearing Implants Revenue and Forecast to 2030 (US$ Million)
8. North America Hearing Aids Market - Revenue and Forecast to 2030 - by Technology
8.1 Overview
8.2 Hearing Aids Market Revenue Share, by Technology 2022 & 2030 (%)
8.3 Conventional Hearing Aids
8.3.1 Overview
8.3.2 Conventional Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Digital Hearing Aids
8.4.1 Overview
8.4.2 Digital Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
9. North America Hearing Aids Market - Revenue and Forecast to 2030 - by Type of Hearing Loss
9.1 Overview
9.2 Hearing Aids Market Revenue Share, by Type of Hearing Loss 2022 & 2030 (%)
9.3 Sensorineural Hearing Loss
9.3.1 Overview
9.3.2 Sensorineural Hearing Loss: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
9.4 Conductive Hearing Loss
9.4.1 Overview
9.4.2 Conductive Hearing Loss: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
10. North America Hearing Aids Market - Revenue and Forecast to 2030 - by Patient Type
10.1 Overview
10.2 Hearing Aids Market Revenue Share, by Patient Type 2022 & 2030 (%)
10.3 Adults
10.3.1 Overview
10.3.2 Adults: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
10.4 Pediatrics
10.4.1 Overview
10.4.2 Pediatrics: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
11. North America Hearing Aids Market - Revenue and Forecast to 2030 - by Distribution Channel
11.1 Overview
11.2 Hearing Aids Market Revenue Share, by Distribution Channel 2022 & 2030 (%)
11.3 Pharmacies
11.3.1 Overview
11.3.2 Pharmacies: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
11.4 Retail Stores
11.4.1 Overview
11.4.2 Retail Stores: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
11.5 Online
11.5.1 Overview
11.5.2 Online: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
12. North America Hearing Aids Market - Country Analysis
12.1 North America Hearing Aids Market, Revenue and Forecast to 2030
12.1.1 North America Hearing Aids Market, by Country
12.1.1.1 US
12.1.1.1.1 Overview
12.1.1.1.2 US Hearing Aids Market Revenue and Forecast to 2030 (US$ Mn)
12.1.1.1.3 US: Hearing Aids Market, by Type, 2020-2030 (US$ Million)
12.1.1.1.4 US: Hearing Aids Market, by Product Type, 2020-2030 (US$ Million)
12.1.1.1.4.1 US: Hearing Aids Market, by Hearing Aid Devices for Product Type, 2020-2030 (US$ Million)
12.1.1.1.4.2 US: Hearing Aids Market, by Hearing Implants for Product Type, 2020-2030 (US$ Million)
12.1.1.1.5 US: Hearing Aids Market, by Technology, 2020-2030 (US$ Million)
12.1.1.1.6 US: Hearing Aids Market, by Type of Hearing Loss, 2020-2030 (US$ Million)
12.1.1.1.7 US: Hearing Aids Market, by Patient Type, 2020-2030 (US$ Million)
12.1.1.1.8 US: Hearing Aids Market, by Distribution Channel, 2020-2030 (US$ Million)
12.1.1.2 Canada
12.1.1.2.1 Overview
12.1.1.2.2 Canada Hearing Aids Market Revenue and Forecast to 2030 (US$ Mn)
12.1.1.2.3 Canada: Hearing Aids Market, by Type, 2020-2030 (US$ Million)
12.1.1.2.4 Canada: Hearing Aids Market, by Product Type, 2020-2030 (US$ Million)
12.1.1.2.4.1 Canada: Hearing Aids Market, by Hearing Aid Devices for Product Type, 2020-2030 (US$ Million)
12.1.1.2.4.2 Canada: Hearing Aids Market, by Hearing Implants for Product Type, 2020-2030 (US$ Million)
12.1.1.2.5 Canada: Hearing Aids Market, by Technology, 2020-2030 (US$ Million)
12.1.1.2.6 Canada: Hearing Aids Market, by Type of Hearing Loss, 2020-2030 (US$ Million)
12.1.1.2.7 Canada: Hearing Aids Market, by Patient Type, 2020-2030 (US$ Million)
12.1.1.2.8 Canada: Hearing Aids Market, by Distribution Channel, 2020-2030 (US$ Million)
12.1.1.3 Mexico
12.1.1.3.1 Overview
12.1.1.3.2 Mexico Hearing Aids Market Revenue and Forecast to 2030 (US$ Mn)
12.1.1.3.3 Mexico: Hearing Aids Market, by Type, 2020-2030 (US$ Million)
12.1.1.3.4 Mexico: Hearing Aids Market, by Product Type, 2020-2030 (US$ Million)
12.1.1.3.4.1 Mexico: Hearing Aids Market, by Hearing Aid Devices for Product Type, 2020-2030 (US$ Million)
12.1.1.3.4.2 Mexico: Hearing Aids Market, by Hearing Implants for Product Type, 2020-2030 (US$ Million)
12.1.1.3.5 Mexico: Hearing Aids Market, by Technology, 2020-2030 (US$ Million)
12.1.1.3.6 Mexico: Hearing Aids Market, by Type of Hearing Loss, 2020-2030 (US$ Million)
12.1.1.3.7 Mexico: Hearing Aids Market, by Patient Type, 2020-2030 (US$ Million)
12.1.1.3.8 Mexico: Hearing Aids Market, by Distribution Channel, 2020-2030 (US$ Million)
13. Industry Landscape
13.1 Overview
13.2 Organic Developments
13.2.1 Overview
13.3 Inorganic Developments
13.3.1 Overview
14. Company Profiles
14.1 Starkey Laboratories Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Audina Hearing Instruments Inc
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 SeboTek Hearing Systems LLC
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Earlens Corp
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Development
14.5 GN Store Nord AS
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Cochlear Ltd
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 WS Audiology AS
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Sonova Holding AG
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Sonic Innovations Inc
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Amplifon Hearing Health Care Corp
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About Us
15.2 Glossary of Terms
List of Tables
Table 1. Hearing Aids Market Segmentation
Table 2. Hearing Aids Market- Hearing Aid Devices Revenue and Forecast to 2030 (US$ Million)
Table 3. Hearing Aids Market- Hearing Implants Revenue and Forecast to 2030 (US$ Million)
Table 4. US Hearing Aids Market, by Type - Revenue and Forecast to 2030 (US$ Million)
Table 5. US Hearing Aids Market, by Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 6. US Hearing Aids Market, by Hearing Aid Devices for Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 7. US Hearing Aids Market, by Hearing Implants for Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 8. US Hearing Aids Market, by Technology - Revenue and Forecast to 2030 (US$ Million)
Table 9. US Hearing Aids Market, by Type of Hearing Loss - Revenue and Forecast to 2030 (US$ Million)
Table 10. US Hearing Aids Market, by Patient Type - Revenue and Forecast to 2030 (US$ Million)
Table 11. US Hearing Aids Market, by Distribution Channel - Revenue and Forecast to 2030 (US$ Million)
Table 12. Canada Hearing Aids Market, by Type - Revenue and Forecast to 2030 (US$ Million)
Table 13. Canada Hearing Aids Market, by Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 14. Canada Hearing Aids Market, by Hearing Aid Devices for Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 15. Canada Hearing Aids Market, by Hearing Implants for Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 16. Canada Hearing Aids Market, by Technology - Revenue and Forecast to 2030 (US$ Million)
Table 17. Canada Hearing Aids Market, by Type of Hearing Loss - Revenue and Forecast to 2030 (US$ Million)
Table 18. Canada Hearing Aids Market, by Patient Type - Revenue and Forecast to 2030 (US$ Million)
Table 19. Canada Hearing Aids Market, by Distribution Channel - Revenue and Forecast to 2030 (US$ Million)
Table 20. Mexico Hearing Aids Market, by Type - Revenue and Forecast to 2030 (US$ Million)
Table 21. Mexico Hearing Aids Market, by Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 22. Mexico Hearing Aids Market, by Hearing Aid Devices for Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 23. Mexico Hearing Aids Market, by Hearing Implants for Product Type - Revenue and Forecast to 2030 (US$ Million)
Table 24. Mexico Hearing Aids Market, by Technology - Revenue and Forecast to 2030 (US$ Million)
Table 25. Mexico Hearing Aids Market, by Type of Hearing Loss - Revenue and Forecast to 2030 (US$ Million)
Table 26. Mexico Hearing Aids Market, by Patient Type - Revenue and Forecast to 2030 (US$ Million)
Table 27. Mexico Hearing Aids Market, by Distribution Channel - Revenue and Forecast to 2030 (US$ Million)
Table 28. Organic Developments Done by Companies
Table 29. Inorganic Developments Done by Companies
Table 30. Glossary of Terms, Hearing Aids Market
List of Figures
Figure 1. Hearing Aids Market Segmentation, By Country
Figure 2. Hearing Aids Market - Key Industry Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. North America Hearing Aids Market Revenue (US$ Mn), 2022 - 2030
Figure 5. North America Hearing Aids Market Revenue Share, by Type 2022 & 2030 (%)
Figure 6. Prescription Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 7. OTC Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 8. Hearing Aids Market Revenue Share, by Product Type 2022 & 2030 (%)
Figure 9. Hearing Aid Devices: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 10. Hearing Implants: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 11. Hearing Aids Market Revenue Share, by Technology 2022 & 2030 (%)
Figure 12. Conventional Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 13. Digital Hearing Aids: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 14. Hearing Aids Market Revenue Share, by Type of Hearing Loss 2022 & 2030 (%)
Figure 15. Sensorineural Hearing Loss: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 16. Conductive Hearing Loss: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 17. Hearing Aids Market Revenue Share, by Patient Type 2022 & 2030 (%)
Figure 18. Adults: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 19. Pediatrics: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 20. Hearing Aids Market Revenue Share, by Distribution Channel 2022 & 2030 (%)
Figure 21. Pharmacies: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 22. Retail Stores: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 23. Online: Hearing Aids Market - Revenue and Forecast to 2030 (US$ Million)
Figure 24. North America: Hearing Aids Market, by Key Country - Revenue (2022) (US$ Million)
Figure 25. North America Hearing Aids Market, By Key Countries, 2022 and 2030 (%)
Figure 26. US Hearing Aids Market Revenue and Forecast to 2030 (US$ Mn)
Figure 27. Canada Hearing Aids Market Revenue and Forecast to 2030 (US$ Mn)
Figure 28. Mexico Hearing Aids Market Revenue and Forecast to 2030 (US$ Mn)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Starkey Laboratories Inc.
  • Audina Hearing Instruments Inc
  • Sebotek Hearing Systems LLC
  • Earlens Corp
  • GN Store Nord AS
  • Cochlear Ltd
  • WS Audiology AS
  • Sonova Holding AG
  • Sonic Innovations Inc
  • Amplifon Hearing Health Care Corp.