Over-the-Counter Hearing Aids Market Size

The market has grown massively owing to the innovation in technologies, regulatory changes, and shifts in consumer preference. The major online retail platforms are also making it easier to reach broader markets. Therefore, the need for convenience, cost-effectiveness, and advanced features in hearing aid products will increase with time.

Furthermore, the growth is essentially driven by a higher incidence rate of age-related hearing loss and a further increasing need for even more affordable, friendly hearing solutions. For instance, in March 2023, according to the reports of the U.S. Food & Drug Administration, approximately 30 million adults in the U.S. suffer from partial or some degree of hearing impairments. In addition, technological innovations such as bluetooth connectivity, rechargeable batteries, and much-enhanced sound processing are creating customer interest. For instance, in October 2024, Apple made AirPods Pro 2 as a low-cost hearing aid. It has an updating software that will transform millions of its AirPods into the FDA-approved hearing aid.