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Hearing Aid Manufacturing in the US Industry Data and Analysis
Hearing aid manufacturers have seen significant regulatory, demographic and market changes over the past five years. The FDA's finalization of a category for over-the-counter (OTC) hearing aids in 2022 triggered new competition and a rapid downslide in hearing aid prices as established manufacturers leveraged their R&D capacity to quickly introduce OTC models. This shift has made hearing aids far more accessible, spurring mergers like the March 2025 venture of Eargo and hearX. Despite price drops, strong distribution networks and rapid innovation have kept revenue trending upward for major hearing aid manufacturers and kept profit from sliding. A long-term trend toward enrollment in Medicare Advantage, which covers hearing aids, over Medicare Original is reaching record-highs. However, funding uncertainties and recently enacted restrictions, including the "Big Beautiful Bill" in 2025, have created new challenges around insurance coverage, especially for low-income individuals and seniors. Hearing aid manufacturers' revenue has been swelling at a CAGR of 0.7% to an estimated $2.3 billion over the five years through 2025, including a 1.3% rise in 2025 alone.
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What's included in this industry analysis
IBISWorld's research coverage on the Hearing Aid Manufacturing industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released September 2025.
About this industry
What's this industry report about?
The Hearing Aid Manufacturing industry in the United States operates under the NAICS industry code OD4068. Hearing aid manufacturers are companies engaged in designing, producing and distributing hearing aids. These devices are specialized electronic instruments designed to assist individuals with hearing impairments by amplifying sound, making it easier for them to hear and communicate. Related terms covered in the Hearing Aid Manufacturing industry in the United States include cochlear implants , behind-the-ear (bte) hearing aids, receiver-in-canal (ric) hearing aids and in-the-ear (ite) hearing aids.
What's included in this industry?
Products and services covered in Hearing Aid Manufacturing industry in the United States include RIC/RITE hearing aids, BTE hearing aids and Custom hearing aids.
What companies are included in this industry?
Companies covered in the Hearing Aid Manufacturing industry in the United States include William Demant Holding Group, Starkey Hearing Technologies and Sonova Holding Ag.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Hearing Aid Manufacturing industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Hearing Aid Manufacturing industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Hearing Aid Manufacturing industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Hearing Aid Manufacturing industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Hearing Aid Manufacturing industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Hearing Aid Manufacturing industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Hearing Aid Manufacturing industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Hearing Aid Manufacturing industry in the United States.
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Frequently Asked Questions
What is the market size of the Hearing Aid Manufacturing industry in the United States in 2026?
The market size of the Hearing Aid Manufacturing industry in the United States is $2.3bn in 2026.
How many businesses are there in the Hearing Aid Manufacturing industry in the United States in 2025?
There are 12 businesses in the Hearing Aid Manufacturing industry in the United States, which has declined at a CAGR of 1.6 % between 2020 and 2025.
How may import tariffs affect the Hearing Aid Manufacturing industry in the United States?
The Hearing Aid Manufacturing industry in the United States is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Hearing Aid Manufacturing industry in the United States?
The Hearing Aid Manufacturing industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Hearing Aid Manufacturing industry in the United States grown or declined over the past 5 years?
The market size of the Hearing Aid Manufacturing industry in the United States has been growing at a CAGR of 0.7 % between 2020 and 2025.
What is the forecast growth of the Hearing Aid Manufacturing industry in the United States over the next 5 years?
Over the next five years, the Hearing Aid Manufacturing industry in the United States is expected to grow.
What are the biggest companies in the Hearing Aid Manufacturing industry in the United States?
The biggest companies operating in the Hearing Aid Manufacturing industry in the United States are William Demant Holding Group, Starkey Hearing Technologies and Sonova Holding Ag
What does the Hearing Aid Manufacturing industry in the United States include?
Manufacturing behind-the-ear hearing aids and Manufacturing on-the-ear hearing aids are part of the Hearing Aid Manufacturing industry in the United States.
Which companies have the highest market share in the Hearing Aid Manufacturing industry in the United States?
The company holding the most market share in the Hearing Aid Manufacturing industry in the United States is William Demant Holding Group.
How competitive is the Hearing Aid Manufacturing industry in the United States?
The level of competition is moderate and increasing in the Hearing Aid Manufacturing industry in the United States.
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