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Hearing Aid Stores in the US Industry Data and Analysis
Over the past five years, the Hearing Aid Stores industry has been shaped by technological advancements, demographic shifts and a greater emphasis on aesthetics. Innovation improved hearing aid features, like rechargeable batteries, wireless connectivity and AI, making devices more user-friendly and effective. The aging population also increased demand for hearing aids, as age-related hearing impairment rose. Also, the industry saw a growing emphasis on the design and comfort of hearing aids, with customers favoring sleek, discreet models for long-term wear. While these factors contributed to industry growth, the outbreak of COVID-19 significantly disrupted the industry, causing revenue to drop in 2020 as temporary store closures and the fear of virus transmission led to canceled or postponed appointments. Nonetheless, pent-up demand contributed to considerable revenue growth in 2021. Overall, industry revenue is expected to expand at a CAGR of 1.7% to $3.5 billion over the past five years, including anticipated growth of 1.5% in 2024 alone.Several key trends will impact the industry in the next five years. The acceleration of teleaudiology and remote services, initially necessitated by COVID-19, will continue, offering greater convenience and access to audiology services. Technological advancements will continue with devices showing real-time configuration using AI technology for enhanced personalization. Awareness about hearing health is set to expand, driving consumers towards hearing aids. Despite these positive trends, the recent regulation allowing the sale of over-the-counter (OTC) hearing aids will boost competition for hearing aid stores and pressure profit. Hearing aid stores will have to emphasize their value-added services to remain competitive. As a result of these trends, industry revenue is expected to climb at a CAGR of 2.0% to reach $3.9 billion in 2029.
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What's included in this industry analysis
IBISWorld's research coverage on the Hearing Aid Stores industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released April 2025.
About this industry
What's this industry report about?
The Hearing Aid Stores industry in the United States operates under the NAICS industry code OD6496. Hearing aid retailers include establishments specializing in the sale of hearing aids and related products. Related terms covered in the Hearing Aid Stores industry in the United States include receiver-in-the-canal , in-the-ear and traditional behind-the-ear .
What's included in this industry?
Products and services covered in Hearing Aid Stores industry in the United States include Receiver-in-canal, Traditional behind-the-ear and In-the-ear.
What companies are included in this industry?
The Hearing Aid Stores industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
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 Stores 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 products and service segmentation and analysis of major markets for the for the Hearing Aid Stores 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 Stores 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 Stores 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 Stores 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 Stores 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 Stores 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 Stores industry in the United States.
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Frequently Asked Questions
What is the market size of the Hearing Aid Stores industry in the United States in 2026?
The market size of the Hearing Aid Stores industry in the United States is $3.5bn in 2026.
How many businesses are there in the Hearing Aid Stores industry in the United States in 2025?
There are 5,103 businesses in the Hearing Aid Stores industry in the United States, which has grown at a CAGR of 3.5 % between 2020 and 2025.
Has the Hearing Aid Stores industry in the United States grown or declined over the past 5 years?
The market size of the Hearing Aid Stores industry in the United States has been growing at a CAGR of 1.7 % between 2020 and 2025.
What is the forecast growth of the Hearing Aid Stores industry in the United States over the next 5 years?
Over the next five years, the Hearing Aid Stores industry in the United States is expected to grow.
What does the Hearing Aid Stores industry in the United States include?
Reciever-in-the-canal and Traditional behind-the-ear are part of the Hearing Aid Stores industry in the United States.
How competitive is the Hearing Aid Stores industry in the United States?
The level of competition is high and increasing in the Hearing Aid Stores industry in the United States.
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