Overall hearing aid and audiology device market to reach $7 billion
Posted by Ellis Baker on Fri, Mar 05, 2010 @ 03:48 PM
According to a new report by iData Research, a medical device, dental and pharmaceutical market research provider, the U.S. Bone-Anchored-Hearing-Aid market will sharply increase by 2016 and the overall market for hearing aids and other audiology devices will reach over $7 billion.
iData's recently published hearing aid report found that patient income levels significantly impact hearing aid style preferences. Specifically, open-fit or receiver-
in-canal models were the most popular styles, particularly among mid to high income households due to aesthetic and comfort preferences. Traditional behind-the-ear models were the second most popular; particularly with low income households due to Medicare and Medicaid reimbursement constraints and the models long history in the market. However, their research shows that the open-fit and receiver-in-canal styles are gaining popularity over the behind-the-ear model. Because of this, the iData predicts over the forecasted period that the number of units sold and average selling price for the behind-the-ear models will decline. iData also projects that the bone-anchored-hearing-aid segment will see the fastest growth overall in the U.S. market with an CAGR of 35.5% by 2016.
Their report provides comprehensive analysis for the bone-anchored-hearing-aids, cochlear implants, diagnostic devices, AOE/ABR analyzers, audiometers, tympanometers, real-ear analyzers, otoscopes, hearing aid batteries and the overall hearing aid market by style and circuit. The report provides the results of a comprehensive audiologist focus group and detailed competitive analysis, which cover companies such as Cochlear, Oticon, Phonak, Siemens, Starkey and Widex, among other.
Get more information on the U.S. Market for Hearing Aids and Audiology Devices report.