Hearing Device Market Analysis, Size, Trends | Mexico | 2015-2021 | MedSuite
- Year: 2015
- Scope: 2011-2021
- Region: Mexico
- Pages: 120
- Published Date: 12/1/2014
- Type: MedSuite
Mexico Hearing Device market report includes the private hearing aid market, public hearing aid market, bone anchored hearing aid, cochlear implant and hearing aid battery.
Market Growth Drivers
Hearing loss is strongly associated with age, with at least moderate hearing loss becoming common above 65 years of age. As the over-65 population grows, there will be a larger hearing impaired population, which is expected to lead to greater demand for hearing aids as treatment options. This will drive growth in the hearing aid market, in addition to growth in other associated markets such as hearing aid batteries.
Technological innovations in hearing aid circuitry improve sound quality and immediate post-fit satisfaction, as well as provide new features. Technological innovations, which are first delivered in a manufacturers flagship or premium device, will trickle down through the rest of the product line, driving the growth of premium models as well lower-tier devices.
The largest segment of the Mexican market for hearing devices and batteries, by far, was the market for hearing aids. This market also includes segments for bone-anchored hearing aids, cochlear implants and hearing aid batteries. Three out of the four segments included in this report feature a double-digit CAGR over the forecast period. The overall market is projected to almost double in value.
In this market, some segments show more promise for growth than others do. Standard hearing aid unit sales strongly contributed to the overall Mexican market, which accounted for over 75% of the total market value. Cochlear implants and bone-anchored hearing devices maintained low penetration rates in 2014, but are expected to experience moderate to strong growth.
Identified Strategic Opportunities
Market Overview by Segment
ASP and Units Sold for both private and public hearing aid markets
Trend Analysis by Segment
Market Drivers & Limiters
Mergers & Acquisitions
Customer Feedback and Market Monitoring
Main Markets Covered
Hearing Aid Market
Public Hearing Aid Market
Private Hearing Aid Market
Bone-Anchored Hearing Aid Market
Hearing Aid Battery Market
Cochlear Implant Market
iData’s 9-Step Research MethodologyOur reports follow an in-depth 9-step methodology which focuses on the following research systems:
- Original primary research that consists of the most up-to-date market data
- Strong foundation of quantitative and qualitative research
- Focused on the needs and strategic challenges of the industry participants
Step 1: Project Initiation & Team Selection During this preliminary investigation, all staff members involved in the industry discusses the topic in detail.
Step 2: Prepare Data Systems and Perform Secondary Research The first task of the research team is to prepare for the data collection process: Filing systems and relational databases are developed as needed.
Step 3: Preparation for Interviews & Questionnaire Design The core of all iData research reports is primary market research. Interviews with industry insiders represent the single most reliable way to obtain accurate, current data about market conditions, trends, threats and opportunities.
Step 4: Performing Primary Research At this stage, interviews are performed using contacts and information acquired in the secondary research phase.
Step 5: Research Analysis: Establishing Baseline Estimates Following the completion of the primary research phase, the collected information must be synthesized into an accurate view of the market status. The most important question is the current state of the market.
Step 6: Market Forecast and Analysis iData Research uses a proprietary method to combine statistical data and opinions of industry experts to forecast future market values.
Step 7: Identify Strategic Opportunities iData analysts identify in broad terms why some companies are gaining or losing share within a given market segment.
Step 8: Final Review and Market Release An integral part of the iData research methodology is a built-in philosophy of quality control and continuing improvement is integral to the iData philosophy.
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