Evolution of the digital technology has changed the overall dynamics of the hearing devices industry. Innovations have provided hearing-impaired people with cosmetically attractive mini-instruments, which have proven highly efficient in terms of performance. Meanwhile, the low adoption rates of the technologically improved hearing devices offer significant growth opportunities to the hearing devices manufacturers globally.

The hearing devices market is segmented into hearing aids and hearing implant market. In terms of growth, hearing implant industry has far outpaced the hearing aid industry, witnessing an average double digit growth. It has resulted in hearing aid manufacturers actively seeking investment into the high growth market of hearing implant. Also, hearing implant companies are planning to foray into hearing aids market.

North America and Europe are the major hearing aids markets, in terms of sales, whereas in terms of people with hearing disorder, Asia is the largest region as it accounts for over half of the global hearing loss population. The worldwide market for hearing aids is moving towards shorter product life cycle, convergence of hearing aids & consumer electronics and industry consolidation through mergers & acquisitions.

Sales of the hearing aid industry witnessed a notable decline in the US during 2008, as a result of weak economy. The behind-the-ear (BTE) instruments represent more than half of the overall US market. The main channel of distribution in the US is the audiologists’ offices.

Technology holds the key to higher penetration in mature markets. Innovation and advancements in hearing aids and the hearing assistive technology (HAT) are regarded to be the major growth drivers of the overall industry. In addition, the increasing population of elderly people is also driving growth of the hearing aid market. The majority of people buying hearing aids fall in the age group of 65 or above, living mainly in Europe and North America.

There are several factors, like global economic crisis, social acceptance and non-coverage by private & public insurance, which are acting as a roadblock in the path of industry growth and need to be sorted by the industry players in order to achieve long term growth.

The report offers an analysis of the worldwide hearing devices industry with a special focus on the hearing aid market of U.S. In addition to discussing major market trends and growth drivers, it also gives an overview of the demographic characteristics of the hearing loss population in the US. The report also profiles major players in the market and the competitive landscape.

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.
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Table of Contents

1. Hearing Devices Market

1.1 Overview
Global hearing loss population and its geographical spread

1.2 Segmentation of Hearing Devices Market

1.3 Strategic Fit of Hearing Implant & Hearing Aids Manufacturers

2. Global Hearing Aid Market

2.1 Overview
2.1.1 Types of Hearing Aids
2.1.2 Value Chain
Hearing Aids value chain and the evolution within the value chain

2.2 Global Hearing Aid Market Size
Global hearing aids industry sales by value and volume
Industry growth in terms of value and volume

2.3 Global Hearing Aid Adoption Rate & Reimbursements
Hearing aid adoption rate, globally and in key geographical markets

3. Global Hearing Implant Market

3.1 Market Size
3.2 Market Segmentation

4. The US Hearing Aid Market

4.1 Market Size
US hearing aids industry sales growth by volume

4.2 Segmentation by Type of Hearing Aids
Transformation of hearing aids from analog to digital signal processing devices
Sales by type of hearing aids in the US

4.2.1 Behind-the-Ear (BTE) Instruments
BTE market share and its growth in total hearing aids instrument
BTE vs. ITE sales growth
BTE instrument by type of battery used

4.3 Hearing Aids Prices in the US Market
Growth in average hearing aids prices in the US
Price growth by type of hearing aids

4.4 Distribution System
Contribution of distribution channels in the US sales of hearing aids

4.5 Demographics

4.5.1 Prevalence of Hearing Loss
4.5.2 Hearing Aid Penetration Rate
4.5.3 Age-Wise Break-Up of Hearing Loss Population
4.5.4 Household Income-Wise Break-Up of Hearing Aid Owners
4.5.5 Hearing Loss Population by Metro Size
4.5.6 Average Age of New Hearing Aid Users

5. Hearing Aid Market Movements

5.1 Key Trends

5.1.1 Shorter Product Lifecycle
5.1.2 Wireless Connectivity Resulting in Product Convergence
5.1.3 Increasing Global Hearing Aids Prices
5.1.4 Hearing Aid Industry Moving Towards Consolidation

5.2 Growth Drivers

5.2.1 Global Low Penetration Rate of Hearing Aids
5.2.2 The US Hearing Loss Population
5.2.3 Increasing Per Capita World GDP
5.2.4 Rising Aging and Total Global Population

5.3 Challenges

5.3.1 Economic Downturn
5.3.2 Social Acceptance
5.3.3 No Coverage by Private and Public Insurance

6. Competitive Landscape of Hearing Aid Market

6.1 Market Share

6.1.1 Hearing Aids
6.1.2 Hearing Implants

6.2. Key Developments

6.2.1 Contract Renewals
6.2.2 Wireless Connectivity
6.2.3 Technology Break-through Product: Lyric

7. Company Profiles

7.1 William Demant

Overview
Business Strategies
Diversified Product Portfolio
Technological Shift to Wireless

7.2 GN Resound

Overview
Business Strategies
Demand Managed Inventory
Platform approach for Research and Development

7.3 Sonova

Overview
Business Strategies
Innovation led growth
Diversified Geographic Presence

7.4 Widex

Overview
Business Strategies
Diversified Distribution Network
Focus on CAMISHA Technology for Manufacturing of Hearing Aids
Concentration in Denmark

8. Market Outlook

8.1 Market Forecast

8.2 Forecast Methodology
8.2.1 Dependent and Independent Variables
8.2.2 Correlation Analysis
8.2.3 Regression Analysis
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List of Tables

Hearing Aid Reimbursements in key countries
Globally Cochlear Implant Reimbursements
Breakdown of US Sales by Hearing Aid Type, 2005-2008
BTE by Size of Battery Used, 2007-2008
Hearing Aid Suppliers to VA, Nov-2008 – Oct, 2009
World Hearing Implant Market Share by Product, 2009E
Key Contracts for Renewal, 2010E
Competitive Analysis of Hardware Platforms for Wireless Capabilities
Competitive Analysis of Wireless Connectivity, 31st Dec-2009
Dependent & Independent Variables, 2001– 2008
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output

List of Charts

Geographical Break-up of Global Hearing loss population (Millions), 2008
Segmentation of Hearing Devices Market
Strategic fit of HI for HA manufacturers
Hearing Aid Industry Value Chain
Worldwide Hearing Aid Sales by Value, 2000-2008
Worldwide Hearing Aid Sales by Volume, 2000-2008
Global Hearing Aid Adoption Rate, 2008
Hearing implant sales (US$ millions), 1999-2008
Hearing Implant Market Segmentation by Type of Products, 1999-2008
Break-up of Hearing Implant Market, 2008
U.S. Hearing Aid Sales by Volume, 1998-2009
Monthly Change in HA Volume Growth in the U.S., Jun-2008 – Dec- 2009
Segmentation of U.S. Hearing Aid, 2003-2008
Average price of hearing-aid in U.S., 1989-2008
Average price by type of hearing aids, 1989-2008
U.S. Hearing aid distribution by source of distribution, 2008
Prevalence of hearing loss per 1000 households, 1989-2008
U.S. Hearing Aid Penetration rate, 1989-2008
Hearing Aid Penetration Rate in the U.S. by degree of hearing loss, 2008
Age-wise break-up of Hearing loss population, 2008
Household Income-wise break-up of Hearing Aid Owners, 2008
Break-up of Hearing loss population by Metro Size in U.S., 2008
Average age of New Hearing Aid Users, 1989-2008
Factors contributing to Shorter Product Lifecycle
Convergence of Hearing aids and Consumer Electronics
Global Hearing Aid Prices Trend, 2000-2008
Segmentation and adoption rate of hearing loss population
Projected hard-of-hearing persons in U.S., 2006-2015
Per Capita World GDP, 2003-2008
Proportion of old age and children population, 1950-2010E
World Population, 2000-2008
World Hearing Aid Market Share, 2008
William Demant Revenue, 2004-2008
GN Resound revenue, 2007-2008
Sonova Revenue, 2004-2008
Widex Revenue, 2007-2009
Global Hearing Aid Market Forecast, 2008-2012F
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