December 2012 - Volume 65 - Issue 12 - p 14–16
Hearing Industries Association - “The current unit sales in the US are below my expectation of [approximately] five percent,” observed Oliver Metzger, a life sciences equity analyst at Commerzbank AG in Frankfurt, Germany, who tracks hearing aid stocks. “I had imagined that the market growth would increase in units after it had grown only by [about] three percent in units in 2011 and after [the first quarter] was comparably strong,” he said in an email. Mr. Metzger speculated that audiologists are reducing their inventories in anticipation of new product launches.
FORECAST: 2013 AND BEYOND
The US market for hearing aids and audiology devices was worth $5.7 billion in 2011, and is expected to reach nearly $8 billion by 2018, according to iData Research, a market research firm in Vancouver, Canada. . (U.S. Market for Hearing Aids and Audiology Devices.)
Mr. Metzger said he thinks US unit sales will grow five percent for 2013 based on several new hearing aid launches in the premium segment of the market, adding that the increasing share of new hearing aids will boost the average selling price (ASP) by about two percent. “I expect the momentum to continue for 2014 as the technological downstreaming of technology into lower priced hearing aids will push forward the unit sales, but with a declining ASP of [approximately] two percent for 2014,” Mr. Metzger added.
The global market for hearing aid devices was valued at $6.6 billion in 2010, and is forecast to grow at a Compound Annual Growth Rate (CAGR) of 6% to reach $10 billion in 2017. The market is expected to be driven by the rapid increase in the elderly population, increase in the prevalence of acquired hearing loss among people, technological innovations in the hearing aid devices, government...