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Title: Global Hearing Aid Market Report: 2015 Edition - New Reports by Koncept Analytics


1
Global Hearing Aid Market Report
----------------------------------------- 2015
View Report Details
2
View Report Details
  • Executive Summary
  • Hearing aid is a small electronic device that is
    placed around or inside the ear for amplification
    and modification of sound in order to enhance the
    hearing and speech comprehension of people. It is
    considered one of the most popular treatments of
    hearing loss. Hearing aid styles are classified
    into four types Behind-the-Ear (BTE), In-the-Ear
    (ITE), In-the-Canal (ITC) and Completely-in-the-Ca
    nal (CIC), and Invisible-in-Canal (IIC).
  • As per the global hearing aid market report, the
    hearing healthcare market in the world is mainly
    divided into three segments Hearing Aids,
    Hearing Implants and Hearing Diagnostics. The
    global wholesale hearing aid market volume
    reported faster growth when compared to
    historical growth trend, primarily driven by
    favorable reimbursement changes in Germany with
    the effect from November, 2013. The US is the
    largest hearing aid market, still having plenty
    of scope for volume growth like other countries,
    Germany, the UK, Japan, and Australia among
    others. The hearing implants are segmented into
    three categories cochlear implants, direct
    acoustical cochlear stimulation implants and
    bone-anchored hearing implants.
  • The key factors which are anticipated to drive
    market growth include promising demographic
    development, increasing global GDP, increasing
    global healthcare expenditure among others. Some
    of the noteworthy industry trends include
    RIC/RITE showing remarkable growth, distribution
    strategies as a means of competition and leading
    players entering into related business segments.
    However, the industry remains threatened by
    certain challenges which include potential threat
    from new entrants, pricing pressure and changed
    market dynamics in the US among others.
  • The report provides a comprehensive study of
    global hearing aid market and its segments in
    addition with major regional markets. The
    competition in the global hearing aid market is
    highly intense among very few large players like
    Sonova Holding AG, GN ReSound and William Demant.
    All these companies have been profiled in the
    present report highlighting their key financials
    and business strategies for growth.
  • By combining SPSS Inc.s data integration and
    analysis capabilities with our relevant findings,
    we have predicted the future growth of the
    industry. We employed various significant
    variables that have an impact on this industry
    and created regression models with SPSS Base to
    determine the future direction of the industry.
    Before deploying the regression model, the
    relationship between several independent or
    predictor variables and the dependent variable
    was analyzed using standard SPSS output,
    including charts, tables and tests.

3
In terms of value, Germany accounts for the
second largest hearing aid market share.
Global Hearing Healthcare Market Value Share by
Segment (2014)
  • Within the global hearing healthcare market, the
    hearing aid segment accounts for .. share
    followed by hearing implant segment with .. of
    market share, while hearing diagnostics accounts
    for the remaining .. share as of 2014.
  • The global wholesale hearing aid market volume
    stood at .. million units in 2014, an increase of
    from million units in 2013. The reported
    growth is faster than the historical growth
    trend.
  • The retail market comprises various retail
    channels, from the traditional mom pop
    independent retail stores around the corner, to
    big box retailers, optical chains, online
    retailers, etc. The wholesale hearing aid market
    value is US... billion in 2014, growing at a
    CAGR of from 2002 to 2014.

Global Wholesale Hearing Aid Market Volume
(2005-2019E)
Global Wholesale Retail Hearing Aid Market
Value (2002-2014)
4
Latin America, Middle East, China and India have
very low cochlear implant penetration rate.
Average Selling Price of Hearing Aids Retail
and Global (2005-2014)
  • The average selling price (ASP) of hearing aid
    units declined by .. in 2014 to US..., largely
    due to altered market dynamics in the US, a new
    reimbursement system in Germany and strengthened
    competition. However, the global ASP development
    declined to .. in 2014, down by .. from 2013.
  • The global wholesale value of hearing implant
    market is estimated to be around US.. billion in
    2014, an increase of .. versus prior year.
  • In 2014, around .. million units of hearing aids
    were sold through VA in the US, while million
    units of hearing aids were sold through the
    private sector. The respective share of unit
    sales through both segments continues to increase
    along with improving economic conditions.

Global Wholesale Hearing Implant Market Value
(2003-2015E)
The US VA and Private Sector Hearing Aid Units
(2007-2014)
5
The retail market comprises various retail
channels, like traditional mom pop independent
retail stores big box retailers, optical chains,
online retailers, etc.
  • Out of four hearing aid styles, Behind-the-ear
    (BTE) style hearing aids continue to dominate the
    market in 2014 making up of all dispensed
    hearing aid units. Receiver in-the-canal and
    receiver-in-the-ear (RIC/RITE) style hearing aids
    make up of all hearing aid sales, an increase
    of .. from .. in 2013.
  • In the US, the VA and Costco together account for
    .. of market volume with VA making up .. of the
    market in 2014. However, the market is still
    largely captured by independent retailer/buying
    groups accounting for .. of market by volume and
    .. of market by value.
  • The global wholesale hearing aid market is
    dominated by six players accounting for .. of
    total unit sales in 2014. Sivantos is the third
    largest company with an .. share behind Sonova
    with .. and William Demant with .. market share.

The US Hearing Aid Market Volume Share by Aid
Types (2009/2014)
The US Hearing Aid Market Volume by Distribution
Channel (2014)
Global Wholesale Hearing Aid Market Value Share
by Company (2014)
6
Large hearing aid retailers like Amplifon
Connect Hearing are expected to consolidate the
market.
Global Wholesale Hearing Aid Market Value
Forecast (2013-2018F)
  • The hearing aid market has factually been growing
    at a steady and relatively robust rate driven by
    the demographic developments and higher frequency
    of hearing impairment in the population. A unit
    growth of .. is expected in hearing aid market
    worldwide, which will however be dented by a
    decline in the markets average selling price
    (ASP) due to continued distribution channel mix
    changes and cut-throat competition. In terms of
    value, the market is expected to be positive in
    2015.
  • The wholesale hearing aid market value is
    forecasted to reach US... billion in 2015,
    depicting an increase of nearly .. from US...
    billion in 2014. The wholesale value of global
    hearing market is forecasted to reach to US...
    billion by 2018, growing at a CAGR of from
    2014 to 2018.
  • The Department of Veterans Affairs (VA) in the
    US, one of the largest distributors of hearing
    aids, has awarded contracts to purchase products
    from the US divisions of all six of the worlds
    largest hearing aid manufacturers effective
    November 1, 2014. Although the contracts with GN
    ReSound, Oticon Inc., Phonak LLC, Siemens Hearing
    Instruments, Starkey Hearing Technologies, and
    Widex USA, are legitimate for only a 1-year base
    period, they include an option sanctioning the VA
    to renew them for four additional 1-year periods.

7
Contact Us
View Report Details
These are abridged and sanitized sample pages
from the comprehensive report on the Global
Hearing Aid Market . To know more about this
report or for any customized research
requirement, please contact the following
Koncept Analytics CS-36, Second Floor, Ansal
Plaza Vaishali, Ghaziabad, U.P. 201010 T.
91-120-4130959 C 91-9811715635
vikas_at_konceptanalytics.com
Vikas Gupta BD Manager
www.konceptanalytics.com
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