Hearing Aid Market: Low Penetration Offers Development Opportunities

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Hearing Aid Market: Low Penetration Offers Development Opportunities
Market Report, July 2007, 760 €

Description

The penetration of hearing instruments is currently very low, offering immense opportunities to all the players in the hearing aid value chain – component suppliers, manufacturers, distributors and retailers.
Technological changes (like digitization), ease of use, and increased consumer awareness would all contribute towards deepening the penetration rate.The report focuses on the worldwide hearing aid market – value, growth rate, and new markets.
It also discusses the key trends prevalent in the market.
The report provides comprehensive analysis of the consumer behavior and penetration of hearing instruments.The report profiles the major manufacturers and retailers, including their major business strategies.
It also analyses the competitive landscape of the industry.

Sommaire

1. Industry Value Chain

The hearing aid industry comprising of component suppliers, manufacturers, wholesalers and retailers is undergoing a phase of evolution.

2. Market Size

2.1 Worldwide Market

The market for hearing aids is still under-penetrated, with just one in every four people in need of a hearing solution actually using it.

Hearing Aid – Worldwide Unit Sales
Industry Growth Rate
Geographical Split of Unit Sales
Potential in New Markets

2.2 US Market

The most significant development in the US market has been the rising popularity of behind-the-ear instruments.

3. Market Trends

3.1 Shortening of Product Life Cycle & High R&D Costs
3.2 Consolidation of Manufacturers
3.3 More and more hearing impaired people
3.4 Low Penetration in mild-to moderate hearing impaired
3.5 Technology holds the key to higher penetration
3.6 First-time users in the US
3.7 Rising penetration over the last decade

4. Competitor Analysis

The industry is highly concentrated, with over 90% of hearing aid being supplied by five manufacturers.

Global Hearing Device Market Share
Hearing Aids Sold – Competitive Positioning

5. Company Profiles

5.1 Siemens

Siemens Hearing Instruments is the largest manufacturer of hearing aids.

5.1.1 Overview

5.2 William Demant

William Demant, the second largest hearing aid manufacturer in the world, offers hearing aids through its two brands - Oticon and Bernafon.

5.2.1 Overview
5.2.2 Business Strategies

5.3 Phonak

Phonak Group, headquartered in Zurich, has a strong presence in the North American and the European markets.

5.3.1 Overview
5.3.2 Business Strategies

5.4 GN Store Nord (GN Resound)

Phonak has announced the acquisition of ReSound, hearing aid subsidiary of GN Store Nord.

5.4.1 Overview
5.4.2 Operational Review of Hearing Aid Division

5.5 Amplifon

Amplifon is the largest worldwide global retailer of hearing aid devices.

5.5.1 Overview
5.5.2 Business Strategies

List of Tables

Unit Potential in New Markets (2007E)
Hearing Aid Industry Consolidation
Most desirable hearing aid improvements
Amplifon Distribution Network
Amplifon Group Strategy

List of Charts

Hearing Aid Industry Value Chain
Hearing Aid – Worldwide Unit Sales (2004-25E)
Industry Growth Rate (2004-25E)
Geographical Breakdown of Sales by Volume (in mn)
Product Life Cycle
No. of people with hearing loss (1995-2025)
Hearing-impaired population – Aided/Unaided
Percentage of first-time users in the US (1983-2005)
Penetration of hearing instruments (1999-2008E)
Hearing Device Market Share (2006)
Hearing Aids Unit Sold (2006) by Company
William Demant R&D Spending (2001-05)
Phonak Sales split (%) by product segment (2004-07E)
GN Resound EBITA Margin (2004-07E)