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

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Global Hearing Aid Market Report
----------------------------------------- 2015
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• 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.

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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)
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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.

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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