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U.S. OTC Hearing Aids Market - By Product (Receiver in Canal, Completely-in-the-Canal, Earbuds), By Distribution Channel (Brick & Mortar Stores, E-commerce), By Price Band (USD 500, 501 - 1000, Over USD 1000)- Forecast, 2024-2032

Publisher Global Market Insights
Published Jan 15, 2024
Length 88 Pages
SKU # GMI18515089

Description

U.S. OTC Hearing Aids Market - By Product (Receiver in Canal, Completely-in-the-Canal, Earbuds), By Distribution Channel (Brick & Mortar Stores, E-commerce), By Price Band (USD 500, 501 - 1000, Over USD 1000)- Forecast, 2024-2032


U.S. OTC Hearing Aids Market will register a 5.8% CAGR between 2024 and 2032 due to technological advancements, notably AI-powered devices and Bluetooth-enabled options. As consumers seek more sophisticated and user-friendly hearing solutions, these innovations cater to evolving preferences. The integration of artificial intelligence enhances performance and personalization, while Bluetooth connectivity offers seamless and convenient user experiences. These technological strides will significantly expand the U.S. OTC hearing aids industry, providing users with cutting-edge solutions for hearing enhancement.

Companies are integrating technological innovations and actively launching advanced OTC hearing aids, thereby contributing to the market's robust development and competitiveness. For instance, in 2023, JVC introduced FDA-cleared over-the-counter hearing aids developed in collaboration with health experts from Intricon and hearing aid company Tuned. The JVC EH-Z1500 Bluetooth-enabled hearing aids, powered by AI, provide a convenient self-fitting experience, eliminating the necessity for in-person visits.

The U.S. OTC hearing aids industry is bifurcated based on product and application.

The earbuds segment will capture a substantial share through 2032, attributed to the integration of advanced hearing aid technology into discreet and user-friendly earbuds, appealing to consumers seeking personalized hearing solutions. The rising awareness of hearing health and the convenience of OTC solutions prompt consumers to seek accessible hearing assistance. Technological advancements in earbud design and functionality, such as noise cancellation and personalized audio profiles, contribute to the popularity of these devices. Additionally, the discreet nature of earbuds appeals to individuals seeking a subtle and modern alternative to traditional hearing aids, fostering increased adoption in the expanding OTC hearing aids market.

The over USD 1000 segment will garner notable gains by 2032, owing to the increasing demand for high-end hearing devices that offer advanced features and enhanced performance. Consumers are willing to invest in premium OTC hearing aids to access cutting-edge technology, personalized features, and superior audio quality. This trend underscores a growing preference for sophisticated and premium solutions within the U.S. OTC hearing aids market.

Table of Contents

88 Pages
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & working
1.3 Data collection
1.4 Forecast parameters
1.5 Data validation
1.6 Data sources
1.6.1 Primary
1.6.2 Secondary
1.6.2.1 Paid sources
1.6.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 U.S. OTC hearing aids industry 360 degree synopsis, 2022 - 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 End-use trends
2.1.4 Price band trends
Chapter 3 US OTC Hearing Aids Industry Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Shopping channels: online and in-store preference
3.4 Technology landscape
3.5 Consumer preference
3.6 Gap analysis
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing prevalence of hearing loss
3.7.1.2 Growing awareness regarding treatment options
3.7.1.3 Facilitative government initiatives
3.7.2 Industry pitfalls & challenges
3.7.2.1 Poor awareness and social stigma associated with wearing hearing aids
3.8 Growth potential analysis
3.8.1 By product
3.8.2 By distribution channel
3.8.3 By price band
3.9 Porter's analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Competitive positioning matrix, 2023
4.3 Company matrix analysis, 2023
4.4 Strategy dashboard, 2023
4.5 Strategic outlook matrix, 2023
Chapter 5 US OTC Hearing Aids Market Size and Forecast, By Product, 2022-2032 (USD Million & Units)
5.1 Key trends, by product
5.2 Receiver in canal (RIC)
5.3 Completely-in-the-canal (CIC)
5.4 Earbuds
5.4.1 Completely-in-canal (CIC)
5.4.2 Rechargeable in-the-canal (ITC)
5.4.3 In-the-ear (ITE)
5.4.4 Behind-the-ear (BTE)
5.5 Other products
Chapter 6 US OTC Hearing Aids Market Size and Forecast, By Distribution Channel, 2022-2032 (USD Million & Units)
6.1 Key trends, by distribution channel
6.2 Brick & mortar stores
6.3 E-commerce
Chapter 7 US OTC Hearing Aids Market Size and Forecast, By Price Band, 2022-2032 (USD Million & Units)
7.1 Key trends, by price band
7.2 USD 500
7.2.1 Brick & mortar stores
7.2.2 E-commerce
7.3 501 - 1000
7.3.1 Brick & mortar stores
7.3.2 E-commerce
7.4 Over 1000
7.4.1 Brick & mortar stores
7.4.2 E-commerce
Chapter 8 Company Profiles
8.1 GN Hearing A/S (GN Group)
8.2 Sonova Holding AG
8.3 Eargo Inc.
8.4 WS Audiology Denmark A/S
8.5 Bose Corporation
8.6 MD Hearing
8.7 Xiamen Melosound Technology Co.
8.8 SoundWave Hearing, LLC
8.9 Lucid Hearing
8.10 Starkey
8.11 Neuheara Limited

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