Phonak, Starkey and Oticon Prosper in Billion Dollar U.S. Hearing Aids Market
as Consumer Attitudes Shift with Improved Technology Reports iData Research
A new study by iData Research reports massive profits are expected as baby
boomers more readily purchase hearing aids in the $5.8 billion hearing device
VANCOUVER, BC, Aug. 28, 2013 (GLOBE NEWSWIRE) -- via PRWEB - Approximately 39
million Americans suffer from hearing impairment but only a minor number of
them have purchased hearing aids. According to a new report by iData Research,
there is great market potential for hearing aids in the U.S. as device
penetration remains low.
Hearing aids comprise the largest segment of the U.S. hearing device market,
accounting for nearly 90% of the total market. Market growth relies largely on
the aging population, technological innovation and government programs and
The relatively low penetration rate of bone-anchored hearing aids attributes
to its ranking as the fastest growing segment of the hearing device market
with an increase of almost 30% in 2012. "This segment is a relatively captive
market as bone-anchored hearing aids are the only treatment option for a
specific type of hearing loss," explains Dr. Kamran Zamanian, CEO of iData
Research, "As such, the low penetration allows for rapid growth which is
expected to continue over the forecast period." The cochlear implant market
also shows strong growth. These implants are especially beneficial to infants
and very young children with single-sided deafness. In 2012, units sold grew
at a double-digit rate. Over the forecast period, the penetration rate is
expected to increase to nearly 15%.
Leading competitors include The Sonova Group, GN Store Nord A/S, Phonak,
Starkey, Oticon, GN ReSound, Siemens, Widex, Cochlear Ltd, Rayovac, Power One,
MED-EL and more. Cochlear has the lions' share of both the growing cochlear
implant and bone-anchored hearing aids markets in the U.S. Its experience in
producing and refining its products has resulted in technologically
competitive products. Wireless access to Bluetooth®-enabled cell phones is
among the accessories available for their devices.
iData's comprehensive report series entitled: Markets for Hearing Aids and
Audiology Devices includes the latest data, market analyses and competitor
profiles for the U.S., China, India, Asia Pacific (Australia, Japan & South
Korea), and 15 European countries. This series provides a comprehensive
analysis of 35+ markets within the hearing device industry including: Standard
Hearing Aids, Cochlear Implants, and Hearing Aid Batteries.
Get a full report synopsis or table of contents for this report here.
About iData Research
iData Research is an international market research and consulting group
focused on providing market intelligence for medical device, dental and
pharmaceutical companies. iData covers research in: hearing devices,
cardiovascular, orthopedics and more.
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CONTACT: iData Research
+1 (604) 266-6933
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