Hearing Aid Market

Low Penetration Offers Development Opportunities

Publication Date	July 2007
Publisher	Koncept Analytics
Product Type	Report
Pages	21
ISBN Number	not applicable
Product Code	KOA04191

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Summary

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.

Content

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)