US Market Overview for Hearing Aids and Audiology Devices 2017 – MedView
- Year: 2017
- Scope: 2013-2023
- Region: United States
- Published Date: 11/1/16
- Pages: 57
- Type: MedView
The U.S. market for hearings aids and audiology devices includes traditional hearing aids, bone-anchored hearing aids, cochlear implants, middle ear implants, otoacoustic emission (OAE) analyzers, auditory brainstem response (ABR) analyzers, audiometers, tympanometers, real ear analyzers, otoscopes and personal sounds amplification products (PSAPs). The hearing aid and audiology device market in the U.S. includes a wide array of devices designed to diagnose and treat hearing loss. Approximately 40 million people in the U.S. suffered from hearing impairment in 2016; however, only a minor portion of this population purchased hearing aids as a treatment that year. This market remains at only a fraction of its potential size as increasing device penetration remained challenging. The hearing aid and audiology device market comprises both standard and implantable hearing aids as well as diagnostic equipment, which consists of otoscopes and equipment designed to detect hearing loss.
The traditional hearing aid market in this report is analyzed at both a manufacturer level, as well as at a retail level. The manufacturer hearing aid market segment represents the revenue generated from manufacturers selling their hearing aids to retailers. The retail hearing aid market segment represents the revenue generated from retailers selling hearing aids to end users. This approach was taken in order to do a comparison of the market revenue of the manufacturers of the hearing aid devices versus the retail hearing aid sales. In most states, the right to sell hearing aids is limited to audiologists and hearing instrument specialists. Audiologists require several years of schooling and, in most states, hearing instrument specialists are required to take a two year course in hearing loss diagnosis and hearing aid fitting before they are certified to sell. These requirements limit the number and growth rate of points of sale, in turn limiting the overall growth potential of the hearing aid market. Any measures to broaden distribution channels in a way that do not alienate audiologists and independent hearing instrument specialists will enhance hearing aid sales. One major driver is the aging population. As a person ages, the rate occurrence of hearing impairment increases. In the United States, the baby boomer demographic (those born between 1945 and 1965, colloquially) is entering ages where hearing impairment increases. As such, the customer base will continue to expand. If these new candidates can be successfully targeted, there is a large potential for growth.
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