Global Hearing Aid Market Report: 2015 Edition
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-Canal (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.
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.
1. OVERVIEW
1.1 Introduction
1.1.1 Degree of Hearing Loss
1.1.2 Types of Hearing Loss
1.2 Hearing Aid Devices
1.2.1 Types of Hearing Aids
1.3 Industry Value Chain
2. MARKET STRUCTURE
2.1 Global Hearing Instruments Market
Market Value
Market Volume
2.2. Distribution Channels
2.3 Hearing Instruments Market by Region
2.3.1 North America
Market Volume
Growth Rate
US Overall Market
US VA Market
US Private Market
Penetration Rate
2.3.2 Asia-Pacific
Market Volume
Growth Rate
Korean Market Value
Korean Market Distribution Share
2.3.3 Germany
Market Volume
Distribution Share
2.3.4 EMEA
Market Volume
Growth Rate
2.3.5 European Region
Market Volume by Country
2.4 Hearing Instrument Market by Segment
Hearing Aids Market
Hearing Implant Market
2.4.1 Cochlear Implants
Market Share
Unit Sales
3. MARKET DYNAMICS
3.1 Key Trends
3.1.1 Market Penetration of Hearing Aids
3.1.2 Shift from Non-Wireless to Wireless Technology
3.1.3 Effect of GDP on the Hearing Aid Market
3.1.4 Reimbursement Drives Adoption Rate
3.1.5 Distribution channels
3.2 Industry Developments
3.2.1 Introduction of Quest Platform
3.2.2 Advent of Bluetooth and FM Technology
3.2.3 Development of Hearing Aids Made for I-Phone Users
3.3 Growth Drivers
3.3.1 Rising Global Healthcare Expense
3.3.2 Increasing Global Aging Population
3.3.3 Increase in Hearing Loss Population
3.3.4 Increased Use of MP3 Players
3.4 Challenges
3.4.1 Increased Number of Cochlear Device Failure in the US
3.4.2. Social Stigma
3.4.3 Rising Price Pressure
4. COMPETITIVE LANDSCAPE
4.1 Product Portfolio
4.2 Geographic Comparison
4.3 Therapeutic Comparison
4.4 Organic Growth
4.5 Inventory Management
4.6 Veteran Affairs Market (US)
5. COMPANY PROFILE
5.1 Sonova Holding AG
5.1.1 Business Overview
5.1.2 Financial Overview
5.1.3 Business Strategies
Unremitting Focus on Innovation
Increased Penetration in the Global Marketplace
5.2 William Demant Holding Group
5.2.1 Business Overview
5.2.2 Financial Overview
5.2.3 Business Strategies
Business Expansion through Acquisitions
Launch of Novel and Innovative Products
5.3 GN ReSound
5.3.1 Business Overview
5.3.2 Financial Overview
5.3.3 Business Strategies
Launch of SMART Program
Expanding Product Portfolio
5.4 Siemens AG
5.4.1 Business Overview
5.4.2 Financial Overview
5.4.3 Business Strategies
Focus on R&D Activities
Global Expansion
6. MARKET OUTLOOK
6.1 Market Forecast
6.2 Forecast Methodology
6.2.1 Dependent and Independent Variables
6.2.2 Correlation Analysis
6.2.3 Regression Analysis
1.1 Introduction
1.1.1 Degree of Hearing Loss
1.1.2 Types of Hearing Loss
1.2 Hearing Aid Devices
1.2.1 Types of Hearing Aids
1.3 Industry Value Chain
2. MARKET STRUCTURE
2.1 Global Hearing Instruments Market
Market Value
Market Volume
2.2. Distribution Channels
2.3 Hearing Instruments Market by Region
2.3.1 North America
Market Volume
Growth Rate
US Overall Market
US VA Market
US Private Market
Penetration Rate
2.3.2 Asia-Pacific
Market Volume
Growth Rate
Korean Market Value
Korean Market Distribution Share
2.3.3 Germany
Market Volume
Distribution Share
2.3.4 EMEA
Market Volume
Growth Rate
2.3.5 European Region
Market Volume by Country
2.4 Hearing Instrument Market by Segment
Hearing Aids Market
Hearing Implant Market
2.4.1 Cochlear Implants
Market Share
Unit Sales
3. MARKET DYNAMICS
3.1 Key Trends
3.1.1 Market Penetration of Hearing Aids
3.1.2 Shift from Non-Wireless to Wireless Technology
3.1.3 Effect of GDP on the Hearing Aid Market
3.1.4 Reimbursement Drives Adoption Rate
3.1.5 Distribution channels
3.2 Industry Developments
3.2.1 Introduction of Quest Platform
3.2.2 Advent of Bluetooth and FM Technology
3.2.3 Development of Hearing Aids Made for I-Phone Users
3.3 Growth Drivers
3.3.1 Rising Global Healthcare Expense
3.3.2 Increasing Global Aging Population
3.3.3 Increase in Hearing Loss Population
3.3.4 Increased Use of MP3 Players
3.4 Challenges
3.4.1 Increased Number of Cochlear Device Failure in the US
3.4.2. Social Stigma
3.4.3 Rising Price Pressure
4. COMPETITIVE LANDSCAPE
4.1 Product Portfolio
4.2 Geographic Comparison
4.3 Therapeutic Comparison
4.4 Organic Growth
4.5 Inventory Management
4.6 Veteran Affairs Market (US)
5. COMPANY PROFILE
5.1 Sonova Holding AG
5.1.1 Business Overview
5.1.2 Financial Overview
5.1.3 Business Strategies
Unremitting Focus on Innovation
Increased Penetration in the Global Marketplace
5.2 William Demant Holding Group
5.2.1 Business Overview
5.2.2 Financial Overview
5.2.3 Business Strategies
Business Expansion through Acquisitions
Launch of Novel and Innovative Products
5.3 GN ReSound
5.3.1 Business Overview
5.3.2 Financial Overview
5.3.3 Business Strategies
Launch of SMART Program
Expanding Product Portfolio
5.4 Siemens AG
5.4.1 Business Overview
5.4.2 Financial Overview
5.4.3 Business Strategies
Focus on R&D Activities
Global Expansion
6. MARKET OUTLOOK
6.1 Market Forecast
6.2 Forecast Methodology
6.2.1 Dependent and Independent Variables
6.2.2 Correlation Analysis
6.2.3 Regression Analysis
LIST OF CHARTS
Hearing Aid Industry Value Chain
Global Hearing Instruments Market by Value (2007-2012)
Global Hearing Instruments Market by Volume (2007-2012)
Product Distribution Channel’s Share by Volume (2012)
Region-Wise Percentage Distribution of Global Hearing Market – By Volume (2012)
The US Hearing Instruments Market Volume Growth (Q110-Q313)
The US VA Hearing Instruments Market - Quarterly Volume (Q110-Q313)
The US Private Hearing Instruments Market - Quarterly Volume (Q110-Q313)
Segment-Wise Percentage Distribution of the US Hearing Aid Market – By Volume (2012)
Hearing Aid Penetration Rate in the US by Degree of Hearing Loss (2012)
Owners vs. Non-Owners of Hearing Instruments in the US (2012)
Korean Hearing Aid Market by Value (2007-2012E)
Korean Hearing Aid Distribution Market (2012)
German Hearing Aid Market by Volume (2007-2012)
German Hearing Aid Distribution Market (2012)
Global Hearing Instruments Market by Segment (2012)
Global Hearing Aids Vs Implants Sales (2007-2012)
Global Hearing Aids Vs Implants -Percentage Share (2007-2012)
Hearing Implants Market Share by Volume (2012)
Market Share of Cochlear Implants by Company (2012)
Hearing Impaired Population Segmented by Grades of Hearing Loss (2012)
Hearing Aid Penetration Rate by Region (2012)
The US Hearing Aid Penetration Rate (2012)
The US Paediatric Penetration Rate of CI in Profound Hearing Loss Segment (2010-2015F)
The US Wireless VS Non-Wireless Hearing Instruments Market (Q113)
Hearing Instruments Units – Channel Development (2012)
Global Health Care Expenditure Per Capita (2008-2012E)
Global Aging Population (Over 65) as a Percentage of Total Population (2008-2012)
Increase in Incidence of Hearing Loss Population in the US (1989-2050)
Cumulative Device Failures in the US – By Volume (2012)
Drop-Out Rates in Germany (2012)
Hearing Instruments Market Share - By Value (2012)
Hearing Instruments Market Share - By Value (2013E)
Hearing Aid Manufacturers - Geographical Comparison (2012)
Hearing Aid Manufacturers - Therapeutic Comparison (2012)
Hearing Aid Manufacturers – Inventory Management (2012)
Sonova’s Revenue Share by Segment (2013)
Sonova’s Revenues and Net Income (2008-2012)
William Demant’s Revenue Share by Business Segments (2012)
William Demant’s Revenues and Net Income (2008-2012)
GN ReSound’s Revenue Share by Business Segments (2012)
GN ReSound Revenues and EBITA (2008-2012)
Siemens AG’s Revenue Share by Business Segments (2013)
Siemens AG’s Revenues and Net Income (2008-2013)
Global Hearing Instrument Market Value Forecast (2007-2016F)
Hearing Aid Industry Value Chain
Global Hearing Instruments Market by Value (2007-2012)
Global Hearing Instruments Market by Volume (2007-2012)
Product Distribution Channel’s Share by Volume (2012)
Region-Wise Percentage Distribution of Global Hearing Market – By Volume (2012)
The US Hearing Instruments Market Volume Growth (Q110-Q313)
The US VA Hearing Instruments Market - Quarterly Volume (Q110-Q313)
The US Private Hearing Instruments Market - Quarterly Volume (Q110-Q313)
Segment-Wise Percentage Distribution of the US Hearing Aid Market – By Volume (2012)
Hearing Aid Penetration Rate in the US by Degree of Hearing Loss (2012)
Owners vs. Non-Owners of Hearing Instruments in the US (2012)
Korean Hearing Aid Market by Value (2007-2012E)
Korean Hearing Aid Distribution Market (2012)
German Hearing Aid Market by Volume (2007-2012)
German Hearing Aid Distribution Market (2012)
Global Hearing Instruments Market by Segment (2012)
Global Hearing Aids Vs Implants Sales (2007-2012)
Global Hearing Aids Vs Implants -Percentage Share (2007-2012)
Hearing Implants Market Share by Volume (2012)
Market Share of Cochlear Implants by Company (2012)
Hearing Impaired Population Segmented by Grades of Hearing Loss (2012)
Hearing Aid Penetration Rate by Region (2012)
The US Hearing Aid Penetration Rate (2012)
The US Paediatric Penetration Rate of CI in Profound Hearing Loss Segment (2010-2015F)
The US Wireless VS Non-Wireless Hearing Instruments Market (Q113)
Hearing Instruments Units – Channel Development (2012)
Global Health Care Expenditure Per Capita (2008-2012E)
Global Aging Population (Over 65) as a Percentage of Total Population (2008-2012)
Increase in Incidence of Hearing Loss Population in the US (1989-2050)
Cumulative Device Failures in the US – By Volume (2012)
Drop-Out Rates in Germany (2012)
Hearing Instruments Market Share - By Value (2012)
Hearing Instruments Market Share - By Value (2013E)
Hearing Aid Manufacturers - Geographical Comparison (2012)
Hearing Aid Manufacturers - Therapeutic Comparison (2012)
Hearing Aid Manufacturers – Inventory Management (2012)
Sonova’s Revenue Share by Segment (2013)
Sonova’s Revenues and Net Income (2008-2012)
William Demant’s Revenue Share by Business Segments (2012)
William Demant’s Revenues and Net Income (2008-2012)
GN ReSound’s Revenue Share by Business Segments (2012)
GN ReSound Revenues and EBITA (2008-2012)
Siemens AG’s Revenue Share by Business Segments (2013)
Siemens AG’s Revenues and Net Income (2008-2013)
Global Hearing Instrument Market Value Forecast (2007-2016F)
LIST OF TABLES
North America’s Hearing Instruments Market by Volume (2007-2012)
APAC’s Hearing Instruments Market by Volume (2007-2012)
EMEA’s Hearing Instruments Market by Volume (2007-2012)
European Hearing Aid Market by Volume (2008-2012)
Market Share of Cochlear Implants by Volume (1H11-2H13E)
Real GDP Growth by Region and Hearing Devices Sales Growth (2007-2012)
Hearing Aid Reimbursements in Key Countries
Hearing Healthcare Product Portfolio – By Companies (2012)
Organic Hearing Aid Growth (2012-2013E)
Market Share in the VA Hearing Aid Market (November 07 - October 13F)
Dependent & Independent Variables (2007-2012)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output
North America’s Hearing Instruments Market by Volume (2007-2012)
APAC’s Hearing Instruments Market by Volume (2007-2012)
EMEA’s Hearing Instruments Market by Volume (2007-2012)
European Hearing Aid Market by Volume (2008-2012)
Market Share of Cochlear Implants by Volume (1H11-2H13E)
Real GDP Growth by Region and Hearing Devices Sales Growth (2007-2012)
Hearing Aid Reimbursements in Key Countries
Hearing Healthcare Product Portfolio – By Companies (2012)
Organic Hearing Aid Growth (2012-2013E)
Market Share in the VA Hearing Aid Market (November 07 - October 13F)
Dependent & Independent Variables (2007-2012)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output