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Phonak, Starkey and Oticon Prosper in Billion Dollar U.S. Hearing Aids Market as Consumer Attitudes Shift with Improved Technology Reports iData Research
Date:8/28/2013

Vancouver, BC (PRWEB) August 28, 2013

Approximately 39 million Americans suffer from hearing impairment but only a minor number of them have purchased hearing aids. According to a new report by iData Research, there is great market potential for hearing aids in the U.S. as device penetration remains low.

Hearing aids comprise the largest segment of the U.S. hearing device market, accounting for nearly 90% of the total market. Market growth relies largely on the aging population, technological innovation and government programs and regulations.

The relatively low penetration rate of bone-anchored hearing aids attributes to its ranking as the fastest growing segment of the hearing device market with an increase of almost 30% in 2012. “This segment is a relatively captive market as bone-anchored hearing aids are the only treatment option for a specific type of hearing loss,” explains Dr. Kamran Zamanian, CEO of iData Research, “As such, the low penetration allows for rapid growth which is expected to continue over the forecast period.” The cochlear implant market also shows strong growth. These implants are especially beneficial to infants and very young children with single-sided deafness. In 2012, units sold grew at a double-digit rate. Over the forecast period, the penetration rate is expected to increase to nearly 15%.

Leading competitors include The Sonova Group, GN Store Nord A/S, Phonak, Starkey, Oticon, GN ReSound, Siemens, Widex, Cochlear Ltd, Rayovac, Power One, MED-EL and more. Cochlear has the lions’ share of both the growing cochlear implant and bone-anchored hearing aids markets in the U.S. Its experience in producing and refining its products has resulted in technologically competitive products. Wireless access to Bluetooth®-enabled cell phones is among the accessories available for their devices
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