Market Research Reports

Audiological Devices Market (Hearing Aids, Cochlear Implants, Bone Anchored Hearing Aids, Audiometers, Tympanometers and Otoscopes) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018

89pages
Published Date: 2013-07-01
 

Description



The World Health Organization’s (WHO) factsheet on deafness and hearing loss states that over 5% of the world’s population suffers from disabling hearing loss. This amounts to 360 million people globally. The U.S. National Institute on Deafness and Other Communication Disorders’ (NIDCD) studies show that that among every 1000 people aged 65 years and over in the U.S., 314 suffer from hearing impairment. The figure represents the massive market that exists for audiological devices – equipment and systems used by audiologists for studying hearing loss. Audiological devices are also used for the diagnosis and treatment of hearing loss. 

Broadly segmented, the global audiological devices market is composed of hearing aids, bone anchored hearing aids, cochlear implants, and diagnostic devices. Each of these segments has been further sub-segmented to provide a detailed analysis of the global audiological devices market. 

The report’s overview section features a detailed qualitative analysis of the drivers, restraints, and opportunities that exist in the market. Other highlights of the report are: A market attractiveness analysis, competitive overview, representation of key players’ market shares in 2011, and Porter’s five forces analysis. Furthermore, new market entrants stand to benefit from a list of recommendations that forms a part of the report. 

Overview of the Audiological Devices Market 

The global audiological devices market, which approximated US$6.2 billion in 2011, is expected to stand at US$8.6 billion by 2018, registering a moderately healthy CAGR of 4.9% during this period.

The market for audiological devices is expected to grow on account of both incremental and radical advances. While the former can be predicted with some amount of certainty, the latter are difficult project and analyze in advance because they are highly innovative and singular in nature. However, one trend that will be evident in the market is that analog hearing devices will be supplanted by digital versions in the next few years.
 
The report segments the global audiological devices market by product into: Hearing aids, cochlear implants, bone anchored hearing aids (BAHA), and diagnostic devices. The hearing aids segment is further split into: Behind-the-ear (BTE) aids, in-the-ear (ITE) aids, receiver-in-the-ear aids, and canal hearing aids/in-the-canal (ITC). On similar lines, the diagnostic devices segment is sub-segmented into: Audiometers, otoscopes, and tympanometers. Each of these key segments and sub-segments is analyzed on the basis of sales revenue, effectiveness, and degree of adoption in the market. 

BTE and ITE are the two most popular types of hearing aids essentially because they offer unmatched convenience to users, are high on the aesthetics quotient, and provide easy connectivity. The aged are seen to prefer BTE hearing aids because they are easier to handle and clean as compared to their ITE counterparts. 

The audiological devices market is segmented by geography as: North America, Europe, Asia Pacific and Rest of the World. Europe was seen as the dominant market in 2011 as most leading market players are based in Western Europe. This also makes the Western European region a hub for the latest products in the audiological devices market. The Asia Pacific audiological devices market is projected to expand rapidly as a result of the vast aging population, improvement in healthcare infrastructure and a high rate of the prevalence of deafness. 

Companies Mentioned in the Audiological Devices Market

Key participants in the audiological devices market that have been profiled in this report include: Cochlear Limited, Siemens Healthcare, GN ReSound Group, Sonova Holding AG, Widex A/S, Starkey Hearing Technologies, and William Demant Holding A/S.

Global Audiological Devices Market, by Product Type
  • Hearing Aids
    • Behind-the-Ear (BTE) Aids
    • Receiver-in-the-Ear Aids
    • In-the-Ear (ITE) Aids
    • Canal Hearing Aids (In-the-Canal(ITC), Completely-in-Canal(CIC) and Invisible-in-Canal (IIC))
  • Bone Anchored Hearing Aids (BAHA)
  • Cochlear Implants
  • Diagnostic devices
    • Audiometers
    • Tympanometers
    • Otoscopes
Major geographies analyzed under this research report are: 
  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements 
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

Table of Contents


Table of Contents

Chapter 1 Introduction
1.1 Report description
1.2 Market segmentation
1.3 Research methodology
1.4 List of abbreviations

Chapter 2 Executive Summary

Chapter 3 Market Overview
3.1 Market trends and future outlook
3.2 Drivers
      3.2.1 Increase in prevalence of age-related hearing impairment
      3.2.2 High prevalence of deafness
      3.2.3 Cosmetic appeal of hearing aids
      3.2.4 Impact analysis of drivers
3.3 Restraints
      3.3.1 High cost of surgical solutions
      3.3.2 Social stigma
      3.3.3 Impact analysis of restraints
3.4 Opportunities
      3.4.1 Increase in government initiatives to provide better healthcare services
      3.4.2 Advent of wireless and waterproof hearing aids
      3.4.3 Impact analysis of opportunities
3.5 Porter’s five force analysis for the global audiological devices market
      3.5.1 Bargaining power of suppliers
      3.5.2 Bargaining power of buyers
      3.5.3 Threat of new entrants
      3.5.4 Threat of substitutes
      3.5.5 Competitive rivalry
3.6 Market Attractiveness Analysis

Chapter 4 Global Audiological Devices Market, by Product Type
4.1 Overview – Current Market Scenario and Future Market Trends
4.2 Comparative Analysis: Global Audiological Devices Market, by Product Type, 2011 & 2018 (Value %)
4.3 Hearing Aids
      4.3.1 Behind-the-Ear (BTE) Aids
      4.3.2 Receiver-in-the-Ear Aids
      4.3.3 In-the-Ear (ITE) Aids
      4.3.4 Canal Hearing Aids (In-the-Canal(ITC), Completely-in-Canal(CIC) and Invisible-in-Canal (IIC))
4.4 Bone Anchored Hearing Aids (BAHA)
4.5 Cochlear Implants
4.6 Diagnostic devices
      4.6.1 Audiometers
      4.6.2 Tympanometers
      4.6.3 Otoscopes

Chapter 5 Global Audiological Devices Market, By Geography
5.1 Overview
5.2 Comparative Analysis: Global Audiological Devices Market, By Geography, 2011 & 2018 (Value %)
5.3 North America
      5.3.1 North America Audiological Devices Market, Size And Forecast, 2010 – 2018 (USD Million)
5.4 Europe
      5.4.1 Europe audiological devices market, size and forecast, 2010 – 2018 (USD Million)
5.5 Asia-Pacific
      5.5.1 Asia-Pacific Audiological Devices Market, Size And Forecast, 2010 – 2018 (USD Million)
5.6 Rest of the World
      5.6.1 Rest of the World (RoW) Audiological Devices, Market Size And Forecast, 2010 – 2018 (USD Million)

Chapter 6 Competitive Landscape
6.1 Market share by key players, 2011

Chapter 7 Recommendations
7.1 Market strategy for success
      7.1.1 Investing in emerging markets
      7.1.2 Conduct price containment measures
      7.1.3 Broadening of distribution network

Chapter 8 Company Profiles
8.1 Cochlear Limited
      8.1.1 Company overview
      8.1.2 Financial overview
      8.1.3 Product portfolio
      8.1.4 Strategic overview
      8.1.5 Recent developments
8.2 GN ReSound Group
      8.2.1 Company overview
               8.2.1.1 ReSound
               8.2.1.2 Beltone
               8.2.1.3 Interton
               8.2.1.4 GN Otometrics A/S
      8.2.2 Financial overview
      8.2.3 Product portfolio
      8.2.4 Strategic overview
      8.2.5 Recent developments
8.3 Siemens Healthcare
      8.3.1 Company overview
      8.3.2 Financial Overview
      8.3.3 Product portfolio
      8.3.4 Strategic overview
      8.3.5 Recent developments
8.4 Sonova Holding AG
      8.4.1 Company overview
               8.4.1.1 Unitron Hearing, Inc.
               8.4.1.2 Phonak AG
               8.4.1.3 Advanced Bionics, LLC
               8.4.1.4 Connect Hearing Group
      8.4.2 Financial overview
      8.4.3 Product portfolio
      8.4.4 Strategic overview
      8.4.5 Recent developments
8.5 Starkey Hearing Technologies
      8.5.1 Company overview
      8.5.2 Financial overview
      8.5.3 Product portfolio
      8.5.4 Strategic overview
      8.5.5 Recent developments
8.6 Widex A/S
      8.6.1 Company overview
      8.6.2 Financial overview
      8.6.3 Product portfolio
      8.6.4 Strategic overview
      8.6.5 Recent developments
8.7 William Demant Holding A/S
      8.7.1 Company overview
               8.7.1.1 Audiology Division
                          8.7.1.1.1 Bernafon AG
                          8.7.1.1.2 Oticon
                          8.7.1.1.3 Oticon Medical
                          8.7.1.1.4 Sonic
               8.7.1.2 Diagnostic Division
                          8.7.1.2.1 Amplivox Ltd.
                          8.7.1.2.2 Grason- Stadler, Inc.
                          8.7.1.2.3 Interacoustics A/S
                          8.7.1.2.4 MAICO Diagnostics GmbH
                          8.7.1.2.5 MedRX, Inc.
               8.7.1.3 Personal Communication
                          8.7.1.3.1 Phonic Ear A/S
                          8.7.1.3.2 Sennheiser Communications A/S
      8.7.2 Financial overview
      8.7.3 Product portfolio
               8.7.3.1 Bernafon AG
               8.7.3.2 Oticon A/S
               8.7.3.3 Oticon Medical
               8.7.3.4 Sonic
               8.7.3.5 Amplivox Ltd.
               8.7.3.6 Grason- Stadler, Inc.
               8.7.3.7 Interacoustics A/S
               8.7.3.8 MAICO Diagnostics GmbH
               8.7.3.9 MedRX, Inc.
      8.7.4 Strategic overview
      8.7.5 Recent developments

List of Figures

FIG. 1 Market Segmentation: Global Audiological Devices Market
FIG. 2 Global Audiological Devices Market, By Products, 2011 (USD Million)
FIG. 3 Global Audiological Devices Market, By Geography, 2011 (USD Million)
FIG. 4 Porter’s Five Force Analysis: Global Audiological Devices Market
FIG. 5 Market Attractive Analysis: Global Audiological Devices Market, By Geography, 2011
FIG. 6 Comparative Analysis: Global Audiological Devices Market, By Product Type, 2011 & 2018 (Value %)
FIG. 7 Global Behind-the-Ear Aids Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 8 Global Receiver-in-the-Ear Aids Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 9 Global In-the-Ear Aids Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 10 Global Canal Hearing Aids Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 11 Global Bone Anchored Hearing Aids Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 12 Global Cochlear Implants Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 13 Global Audiometers Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 14 Global Tympanometers Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 15 Global Otoscopes Market, Size And Forecast, 2010 – 2018 (USD Million)
FIG. 16 Comparative Analysis: Global Audiological Devices Market, By Geography, 2011 & 2018 (Value %)
FIG. 17 North America Audiological Devices Market, Size and Forecast, 2010 – 2018 (USD Million)
FIG. 18 Europe Audiological Devices Market, Size and Forecast, 2010 – 2018 (USD Million)
FIG. 19 Asia-Pacific Audiological Devices Market, Size and Forecast, 2010 – 2018 (USD Million)
FIG. 20 RoW Audiological Devices Market, Size and Forecast, 2010 – 2018 (USD Million)
FIG. 21 Market Share by Key Players, 2011 (%)
FIG. 22 Cochlear Limited: Annual Revenues, 2010 – 2012 (USD Million)
FIG. 23 Siemens Healthcare: Annual Revenues, 2010 – 2012 (USD Million)
FIG. 24 GN ReSound Group: Annual Revenues, 2010 – 2012 (USD Million) (Conversion Rate: 1DKK= 0.18 USD)
FIG. 25 Sonova Holding AG: Annual Revenues, 2010 – 2012 (USD Million)
FIG. 26 William Demant Holding A/S: Annual Revenues, 2010 – 2012 (USD Million)

List of Tables

TABLE 1 Market Snapshot: Global Audiological Devices Market
TABLE 2 Global Hearing Aids Market, Size and Forecast, 2010 – 2018 (USD Million)
TABLE 3 Global Diagnostic Devices Market, Size and Forecast, 2010 – 2018 (USD Million)
TABLE 4 Global Hearing Aids Market, Size and Forecast, by Geography, 2010 – 2018 (USD Million)

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Free Market Analysis


Audiological devices are used for the study of hearing, and are used by audiologists for the diagnosis and treatment of hearing loss. The audiology devices market has witnessed impressive growth in the past decade, the prime reason being increased adoption of digital technology in every aspect of product design and development of audiological devices.

Age-related hearing loss is attributed to the normal aging process and other demographic factors such as environmental conditions and occupation. In addition, an individual’s genetic predisposition can also be considered as a significant factor contributing to hearing impairment. Growth in population aged 60 years and above is expected to be the major growth driver for the audiology devices market. According to the estimates made by the World Health Organization (WHO), by the year 2015, approximately 1.2 billion people globally will be over the age of 60. The U.S. National Institute on Deafness and Other Communication Disorders (NIDCD) projects that hearing impairment affects 314 per 1000 American population aged 65 years and above. 

With the advent of virtually invisible and compact hearing aid systems, audiology devices are expected to become ubiquitous consumer electronics in the future. The progress of hearing aids thus depends on industrial innovations either in incremental or radical steps. Incremental advances are easy to identify as these involve progressions and advancements in the existing technologies, whereas radical changes are unpredictable as they involve introduction of a new concept and technology which has not been used earlier. Early and efficient diagnosis of hearing impairment ensures effective treatment measures to enhance the hearing capacity of the patient. Some of the most commonly used diagnostic audiology devices are audiometers, otoscopes and tympanometers. Audiometers are the most popular devices used by audiologists and are used for primary investigation of hearing impairment. Occurrence of severe forms of hearing impairment is usually due to factors such as chronic ear infection and genetic predisposition. 

Dominance of digital technology facilitates perpetual product modifications in hearing devices resulting in the development of highly compact and efficient hearing aids. Digital hearing aids have taken over their analog counterparts due to their high performance efficiency. The major types of hearing aids include Behind-the-Ear (BTE), Receiver-in-the-Ear (RITE), In-the-Canal (ITE) and canal hearing aids such as Invisible-in-the-Canal aids and Completely-in-Canal systems. Behind-the-Ear and In-the-Ear aids are the most popular types of hearing aids due to their ease of use, efficiency in treating a wide extent of hearing loss, comfort level, connectivity and cosmetic preferences of consumers. BTE hearing aids are majorly preferred by elderly patients due to their ease in handling and cleaning compared to ITE devices. Rise in aging population contributes to the high prevalence of hearing impairments.

Geographically, Europe dominates the global audiological devices market. As majority of the prime players in the market are domiciled in Western Europe, many products get first introduced in this region. Technological innovation, growing incidence of hearing impairment and the shift in the preferences of consumers towards use of less visible hearing aids drives the market for audiology devices Europe. Healthcare reforms, technological development, aging population, developing healthcare infrastructure and high prevalence of deafness are the major factors which drive the Asia-Pacific market for audiological devices.

global-audiological-devices-market-by-products-2011
 

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