Navigation Links
Hearing Aid Clinics in the US Industry Market Research Report Now Available from IBISWorld
Date:7/30/2014

New York, NY (PRWEB) July 30, 2014

The Hearing Aid Clinics industry is expected to grow substantially during the five years to 2014. Following a multiyear drop during the recession, the industry has rebounded thanks to beneficial demographic trends, the expansion of private healthcare coverage and, ultimately, the improving economy. As a result, IBISWorld estimates that Hearing Aid Clinics industry revenue will increase at an annualized rate of 3.4% to $2.7 billion during the five years to 2014.

According to IBISWorld Industry Analyst Dmitry Diment, “Economic recovery and the associated rise in disposable income have been key to the industry's growth over the past five years.” Hearing aids are relatively expensive, with a custom-fit pair ranging from $3,000 to $4,000, while some of the industry's top-end pairs cost more than $7,000. Because Medicare, the government-funded health insurance program that provides coverage for adults over the age of 65, does not cover hearing aids, out-of-pocket payments for industry products have remained important during the five years to 2014. Consequently, the expected 1.2% annualized rise in disposable income has benefited industry operators during this period.

“Moreover, the industry has begun to benefit from the expansion of federally funded healthcare. With the implementation of the Patient Protection and Affordable Care Act (PPACA), the number of people with private insurance coverage is expected to rise 4.5% in 2014 alone,” says Diment. While the PPACA does not mandate that insurance companies cover hearing aids, many plans do in fact provide coverage, benefiting the industry. As a result, demand for industry products is expected to boom in 2014, with revenue forecast to rise 5.6%.

The persistence of current trends is expected to further grow the industry over the five years to 2019. Perhaps most importantly, the US population is expected to age at an even faster rate than the previous five years. Because individuals aged 65 and older are the single-largest market for industry services, this demographic trend will continue to facilitate demand for industry products. Furthermore, the continued implementation of the PPACA is expected to expand healthcare coverage to 30 million uninsured Americans by 2019. With disposable income anticipated to continue growing and the number of individuals suffering from hearing deficiencies expected to remain high, IBISWorld forecasts that industry revenue will increase.

For more information, visit IBISWorld’s Hearing Aid Clinics industry in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld.

Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189.

IBISWorld industry Report Key Topics

The Hearing Aid Clinics industry retails hearing aids for consumers of all demographics and ages. Industry operators also frequently provide hearing tests and consultation services within the store.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Read the full story at http://www.prweb.com/releases/2014/07/prweb12056798.htm.


'/>"/>
Source: PRWeb
Copyright©2014 Vocus, Inc.
All rights reserved

Related medicine news :

1. Hearing Aids Market Analysis by Product (Behind-The-Ear Aids, In-The-Ear Aids, CIC, IIC), by Technology (Analog, Digital) Expected to Reach USD 5,440.5 Million by 2020
2. Audiology Devices Market Analysis by Product (Cochlear Implants, Bone Anchored Hearing Aids, Hearing Aids, Audiometers) Expected to Reach USD 9,542.3 Million by 2020
3. The HearStrong Foundation Provides Hearing Healthcare Awareness at the NBC 4 New York and New York Giants Health & Fitness Expo 2014
4. H.E.A.R Me Out Listens to Needs of Hearing Impaired
5. Fit for the frontline? New study identifies the hearing requirements of British soldiers
6. Inner ear stem cells hold promise for restoring hearing
7. Hearing loss affects old peoples personality
8. Tinnitus study signals advance in understanding link between loud sounds exposure and hearing loss
9. Hearing loss linked to accelerated brain tissue loss
10. Bill Russell Supports Hearing Health Awareness with the HearStrong Foundation
11. Audiologists at Arizona Balance & Hearing Associates in Phoenix Share Advice for Selecting Hearing Aids for Children
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, ... Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms ... Final Cut Pro X . Simply select a ProHand generator and drag it above ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... On Friday, ... presented a Bronze Wellness at Work award to iHire in recognition of their exemplary ... part of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI ...
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World Sickle ... chronic pain and the benefits of holistic treatments, Serenity Recovery Center of ... Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder of the red ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... ... is now offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience ... Damon brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... today at the Clinical Decision Making in Emergency Medicine conference in Ponte Vedra ... authored journal articles published in Emergency Medicine Practice and Pediatric Emergency ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 , ... Thursday, July 7, 2016 , , , , LOCATION: , ... , , , , EXPERT PANELISTS:  , , , Frost ... Industry Analyst, Christi Bird; Senior Industry Analyst, Divyaa Ravishankar and Unmesh ... The global pharmaceutical industry is witnessing an exceptional era. Several ...
(Date:6/23/2016)... LONDON , June 23, 2016 ... environments  Oticon , industry leaders in ... the launch of Oticon Opn ™, the world,s ... world of possibilities for IoT devices.      ... Opn, Oticon introduces a number of ,world firsts,: ...
(Date:6/23/2016)... DUBLIN , June 23, 2016 ... the "Surgical Procedure Volumes: Global Analysis (United States, ... Australia, Canada)" report to their offering. ... an essential tool for healthcare business planners, provides surgical ... looks at surgery trends with an in-depth analysis of ...
Breaking Medicine Technology: