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Global Hearing Aid Market Report: 2013 Edition - Researched by Koncept Analytics
Global Hearing Aid Market Report: 2013 Edition - Researched by Koncept Analytics
Hearing is one of the traditional five senses, and refers to the ability to perceive sound by detecting vibrations through ear. Sound can be heard through any of three matters: solid, liquid, or gaseous.
Global Hearing Instruments Market by Value (2007-2012) Recording a growth of the global hearing instruments market reached US$.... billion in 2012, compared to US$.... billion in the previous year. The effect of more certain reimbursement backdrops in a large number of European countries is mainly reflected by the growth of hearing instruments industry in the year 2012. Over the past couple of years, the global hearing aid market has witnessed a consistent increase. In terms of unit, the global hearing aid market registered a growth of .% to reach ... million units, compared to million units in 2011. This growth can be attributed to rapidly evolving lifestyle, demographic changes, and increased penetration rates in emerging markets. In 2012, the US held the highest share of % of the global hearing aid market, followed by the UK with a share of .%. Germany represented a modest share of %. France and Japan contributed an equal share of .% each.
US$ Billion
Region-Wise Percentage Distribution of Global Hearing Market Global Hearing Instruments Market by Volume (2007-2012) By Volume (2012))
Million Units
The adoption rate of the hearing aids is greatly influenced by the reimbursements across the globe. Full or partially reimbursement for hearing aids is offered by the various countries.
Owners vs. Non-Owners of Hearing Instruments in the US In case of age-wise segmentation, the age group of 55 to 64 years offers the maximum opportunity for the hearing aid market in the US. This is because the highest number of people with hearing loss in this age group does not use hearing aids.
. In Korea, a steady growth has been observed in the hearing aid market over past few years. In 2012, the Korean hearing aid market displayed an incline of .% to reach US$.... billion (KRW. billion), compared to US$... billion (KRW . billion) in the previous year. However, in terms of local currency, the same represented an impressive increase of .%.
The hearing aid market in Germany has been consistently growing over the past couple of years. Marking an incline of .%, million hearing aid devices were sold in Germany in 2012, compared to . million units in the previous year. However, the same represented a remarkable increase of .%, compared to sales . million units during 2007.
Million
Non Owner
Owners
KRW Billion
US$
KRW
US$ Billion
Million Units
Introduction of Quest Platform, Advent of Bluetooth and FM and development of hearing aids made for IPhone users are some of the industrial developments in the hearing aid market.
Global Hearing Aids Vs Implants Sales (2007-2012) It is observed that the sale of hearing aid market segment is constant at US$... billion since 2010. However, the sale of the hearing implants segment grew at .% to reach US$... billion in 2012, compared to US$... billion in the previous year
. The highest market share by volume of % was claimed by the cochlear implants, followed by bone anchored hearing aids and middle-ear hearing aids with shares of % and ,respectively in 2012. In terms of sales, the percentage share of hearing aids segment declined to % in 2012, compared to % in 2011. On the other hand the percentage share of the hearing implants segment was noted to be % in 2012,
Cochlear was the leading player in cochlear implant market segment as of 2012. Cochlear held an impressive share of % of the aforementioned market in 2012. Further, Med EI contributed modest share of %, immediately followed by Sonova and Neurelec with shares of % and .% respectively. Market Share of Cochlear Implants by Company (2012)
US$ Billion
Hearing Aids
Hearing Implants
Cochlear
Med EI
Sonova
Neurelec
Rising incidence rate of hearing loss, growing population of people over 60 years of age, increasing public awareness and growing demand in emerging markets will provide a tailwind to hearing aid market.
Global Hearing Instrument Market Value Forecast (2007-2016F)
Sonova
WDH
Siemens
GN
Starkey
Widex
Others
By the end of 2013, it is expected that the market share of Sonova will increase by 1.8% points to reach 26%, compared to 24.2% in 2012. Siemens and Starkey are also expected to increase their market share by value to reach 17% and 11% by the end of 2013, compared to 13.3% and 10.3%, respectively, during the previous year. However, it is expected that the share of GN will be 12% at the end of 2013, down by 4.7% points, compared to 16.7% in the previous year. In terms of product range, William Demant offers product under most hearing aid segments. Moreover, it is assumed that in the near future the companies which will offer the broadest product portfolio will be best positioned in the global marketplace. As of 2012, MEDEL is the only company that offers product in the middle-ear-implant segment. Among the top most companies, diagnostic equipments products are offered by William Demant and ReSound. The global hearing aid market value is forecasted to represent an increase of 6%, to reach US$6.1 billion by the end of 2013, compared to US$5.8 million in 2012. The same is expected to grow at a CAGR of 3.24% during the period spanning 2007 to 2013. The market is forecasted to reach US$6.6 billion by 2016, thereby registering growth at a CAGR of 2.68% during the period spanning 2007 to 2016.
Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
US$ Billion
Table of Contents
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
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) Sonovas Revenue Share by Segment (2013) Sonovas Revenues and Net Income (2008-2012) William Demants Revenue Share by Business Segments (2012) William Demants Revenues and Net Income (2008-2012) GN ReSounds Revenue Share by Business Segments (2012) GN ReSound Revenues and EBITA (2008-2012) Siemens AGs Revenue Share by Business Segments (2013) Siemens AGs Revenues and Net Income (2008-2013) Global Hearing Instrument Market Value Forecast (2007-2016F)
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 List of Tables North Americas Hearing Instruments Market by Volume (2007-2012) APACs Hearing Instruments Market by Volume (2007-2012) EMEAs 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 (20072012) 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
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
Koncept Analytics
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Vikas Gupta
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www.konceptanalytics.com