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Global hearing instruments market: 2012 Edition- Koncept Analytics

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In the last few years there has been a significant increase in the population suffering from hearing problems. On account of the evolving technological environment, companies operating in the healthcare and medical technology industry are now scaling new peaks. Also, the respective sector’s growth is boosted by the rising number of health related issues emanating from the changing lifestyle and incessantly evolving surroundings. Hearing instruments industry is one such segment which witnessed enormous growth on account of the same. This has enabled millions of people suffering from hearing loss to lead a better life.
Hearing loss occurs when there is diminished sensitivity to the sounds normally heard. The term hearing impairment is usually reserved for people who have relative insensitivity to sound in the speech frequencies. The severity of hearing loss is categorized according to the increase in volume above the usual level necessary before the listener can detect it. There are three types of hearing loss: Conductive, Sensorineural and Mixed hearing loss. The hearing losses according to the severity are classified into four types: Mild, Moderate, Severe and Profound hearing loss. The hearing loss is treated by hearing instruments which include two categories: Hearing Aid and Hearing Implant.

The key trends observed within the industry include penetration rate of hearing aids, shift from ITE to BTE and reimbursement facilities. On the development front, there has been an advent of wireless and waterproof hearing instruments among others. But there are certain challenges which the industry is facing as of now. The major factors which will contribute in the growth of the respective industry include growing ageing population and growing worldwide economy among others.
This report offers a comprehensive analysis of the worldwide hearing instrument industry with a special focus on the regional markets including North America, US, APAC, EMEA and Korea. The competition in the global hearing instrument market is intense with few large players viz. Sonova, William Demant, Siemens, and GN ReSound. In addition, competitive landscape of VA market, retail market and NHS UK market along with the company profiles of the leading players in the market are discussed in detail.

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Global hearing instruments market: 2012 Edition- Koncept Analytics

  1. 1. View Report Details Global Hearing Instrument Market--------------------------------------------------- 2012
  2. 2. View Report DetailsExecutive SummaryIn the last few years there has been a significant increase in the population suffering from hearing problems. On account of the evolvingtechnological environment, companies operating in the healthcare and medical technology industry are now scaling new peaks. Also, therespective sector’s growth is boosted by the rising number of health related issues emanating from the changing lifestyle and incessantlyevolving surroundings. Hearing instruments industry is one such segment which witnessed enormous growth on account of the same.This has enabled millions of people suffering from hearing loss to lead a better life.Hearing loss occurs when there is diminished sensitivity to the sounds normally heard. The term hearing impairment is usually reservedfor people who have relative insensitivity to sound in the speech frequencies. The severity of hearing loss is categorized according to theincrease in volume above the usual level necessary before the listener can detect it. There are three types of hearing loss: Conductive,Sensorineural and Mixed hearing loss. The hearing losses according to the severity are classified into four types: Mild, Moderate, Severeand Profound hearing loss. The hearing loss is treated by hearing instruments which include two categories: Hearing Aid and HearingImplant.The present report offers a comprehensive analysis of the worldwide hearing instrument industry with a special focus on the regionalmarkets including North America, US, APAC, EMEA and Korea. The competition in the global hearing instrument market is intense withfew large players viz. Sonova, William Demant, Siemens, and GN ReSound. In addition, competitive landscape of VA market, retailmarket and NHS UK market along with the company profiles of the leading players in the market are discussed in detail.The key trends observed within the industry include penetration rate of hearing aids, shift from ITE to BTE and reimbursement facilities.On the development front, there has been an advent of wireless and waterproof hearing instruments among others. But there are certainchallenges which the industry is facing as of now. The major factors which will contribute in the growth of the respective industry includegrowing ageing population and growing worldwide economy among others.By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of theindustry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Baseto determine the future direction of the industry. Before deploying the regression model, the relationship between several independent orpredictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
  3. 3. Hearing Instruments is an electronic device that fits inside or outside the ear that amplifies and modulates sound which improves the hearing and speech comprehension of people. Global Hearing Instruments Market by Value (2007-2011) •The global hearing devices and instruments market sales increased from US$.... billion in 2010 to US$.... billion in 2011, registering a growth of approximately …%. •In terms of region, EMEA represents the major market for global hearing instruments globally constituting a share of …..%, followed by the North America and Asia-Pacific , accounting for ……% and ….% US$ Billion respectively share of the same. • The sales of hearing aids increased from US$.... billion in 2010 to US$.... billion in 2011, showing a growth of approximately ….%. The sales of hearing implants increased from US$.... billion in 2007 to US$.... billion in 2011. • The US hearing aid market registered a growth of about …% in the first quarter of …., higher than the growth of ….% recorded for the 2007 2008 2009 2010 2011 corresponding quarter of the previous year. Global Hearing Sales (2007-2011) The US Hearing Instruments Market Volume Growth (Q109-Q112) US$ Billion % 2007 2008 2009 2010 2011 Q109 Q209 Q309 Q409 Q110 Q210 Q310 Q410 Q111 Q211 Q311 Q411 Q112 Hearing Aid Hearing Implant
  4. 4. The hearing market is bifurcated into 2 segments viz. Hearing Implants and Hearing Aids. Korea Hearing Aid Market by Volume (2011) •The Korean hearing aid market sales increase from US$.... billion ) (KRW… billion) in 2007 to US$..... billion (KRW…. billion) in 2011, showing a CAGR of …..% for the cited period. •Cochlear implant market sales increased from ….. thousand units in 2007 to ….. thousand units in 2011 showing a CAGR of …..%. •The sales of BAHA (bone anchored hearing aids) shown anUS$ Billion enormous growth from US$..... million in 2007 to US$...... million 2011, showing a CAGR of …..%.  Growth drivers include the U.S hearing loss population, growing worldwide economy, growing ageing population and excessive use of MP3 players. 2007 2008 2009 2010 2011 Sales of Bone Anchored Hearing Aids (2007-2011) Cochlear Implant Market Sales (2007-2011) US$ Million Unit Thousands 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011
  5. 5. The hearing instrument market is highly competitive with three of its top players accounting for approximately 60% of the global market share in 2011… Global Hearing Instrument Market Value Forecast (2009-2014F) US$ Billion 2009 2010 2011 2012F 2013F 2014F Amplifon is the leading retailer with ….% of the total global market share. Costco is the third largest retailer in the US after Walmart and Kroger. Also, the National Health Service is the leading source of hearing instruments with ….% share in the global hearing instruments volume. On the competition front, Sonova has the largest market share of ……% of hearing instrument for the year 2011 world over, followed by W. Demant with ……%. Siemens is the third largest company in the hearing instrument market with ………% share. The global hearing instrument market is likely to grow from US$......... billion in 2009 to US$........... billion in 2014, at a CAGR of ……….%. Key Issues faced by the respective industry include: Increasing number of Cochlear’s product recall, escalating price pressure and social acceptance. Note: Market attractiveness is inverse of penetration. Low penetration means high attractiveness and vice-versa
  6. 6. Table of Contents List of Graphs & Tables1. Hearing Instruments: An Overview List of Charts 1.1 Introduction 1.2 Types of Hearing Aids Hearing Aid Industry Value Chain 1.3 Industry Value Chain Global Hearing Instruments Market by Value (2007-2011) Global Hearing Instruments Market by Volume (2007-2011) The US Hearing Instruments Market Volume Growth (Q109-Q112)2. Market Structure The US VA Hearing Instruments Market - Quarterly Volume Growth2.1 Global Hearing Instruments Market (Q109-Q112) The US Private Hearing Instruments - Quarterly Volume Growth (Q109- -Market Value Q112) -Market Volume Hearing Aid Penetration Rate in the US by Degree of Hearing Loss2.2 Hearing Instruments Market by Geographic Region (2011) Owners vs. Non-Owners of Hearing Instruments in the US (2011)2.2.1 North America Korea Hearing Aid Market by Volume (2011) -Market Volume Korean Hearing Aid Distributors’ Market (2011) Hearing Instrument Market Share by Segment (2011)United States Hearing Devices Sales (2007-2011) -Market Volume Hearing Devices Sales-Percentage Share (2007-2011) -VA Market Hearing Implants Market Share by Volume (September 2011) -Penetration Rate Hearing Implants Market Share by Value (September 2011) Cochlear Implant Market Sales (2007-2011)2.2.2 Asia Pacific Market Share of Cochlear Implants by Company (September 2012) -Market Volume Sales of Bone Anchored Hearing Aids (2007-2011) Global Hearing Aid Penetration Rate (2006-2011)Korea Hearing Aid Penetration Rate by Region (2011) -Market Volume United States Hearing Aid Penetration Rate (2011) -Distributor Market Share Cochlear Implant Penetration Rate by Country (2011)2.2.3 EMEA US Hearing Instrument Market: BTE Vs ITE (2007-2011) -Market Volume Change in HA Units and Real GDP (2007-2011) Hearing Instruments–Channel Development by Units (2007-2011)2.2.4 Rest of the World Projected Hard-of-Hearing Persons in the US (2006-2015) -Market Volume World GDP (2007-2011) Global Ageing Population, +60 years (2005-2013F)2.3 Hearing Instrument Market by Segment Device Failures in the US (2011) Hearing Instrument Market Share by Value (2011/15E)
  7. 7. Hearing Aids Veteran Affairs Hearing Aid Distribution Share by Device (Sep 2011- -Sales Growth Mar 2012) -Market Share Phonak’s Hearing Aid Distribution Share (September2011-March 2012) Hearing Implants Starkey’s Hearing Aid Distribution Share (September2011-March -Sales Growth 2012) -Market Share by Value Oticon Hearing Aid Distribution (September2011-March 2012) -Market Share by Volume Amplifon’s Supplier Share (2011) Costco Number of Hearing Aid Centers (2007-2011)2.3.1 Cochlear Implants NHS Hearing Instruments supplier market share (2011) -Market Value UK Private Hearing Instrument Market Share (2011) -Market Share Sonova’s Revenue Share by Segment (2011) Sonova’s Revenues and Net Income (2008-2012)2.3.2 Bone Anchored Hearing Aids William Demant’s Revenue Breakdown by Segments (2011) -Market Value William Demant’s Revenues and Net Income (2007-2011) GN ReSound’s Revenue Breakdown by Segments (2011)3. Hearing Instrument - Market Dynamics GN Resound’s Revenues (2010-2011) Siemens AG’s Revenue Share by Business Segments (2011)3.1 Key Trends Siemens AG’s Revenues and Net Income (2008-2012) Global Hearing Instrument Market Value Forecast (2009-2014F)3.1.1 Hearing Aid Penetration Rate3.1.2 Shift from BTE to ITE List of Tables3.1.3 Correlation of Hearing Aid Market with GDP3.1.4 Reimbursement North America’s Hearing Instruments Market by Volume (2007-2011)3.1.5 Forward Integration APAC’s Hearing Instruments Market by Volume (2007-2011) EMEA’s Hearing Instruments Market by Volume (2007-2011)3.2 Industry Developments ROW’s Hearing Instruments Market by Volume (2007-2011) Cochlear Implant Unit Sales by Manufacturers (2007-2015E)3.2.1 Extension of XCEL technology Real GDP Growth by Region & Hearing Devices Sales Growth (2007-3.2.2 Advent of Wireless and Waterproof Hearing Instruments 2011)3.2.3 Development of Induction Loop Solution Hearing Aid Reimbursements in Key Countries Hearing Loss Treatment Market Profile (2011) Manufacturers’ Shipments to Three Largest Buyers of Hearing3.3 Growth Drivers Instruments (2011) Amplifon Market Share and Competitive Overview3.3.1 The US Hearing Loss Population Dependent & Independent Variables (2007-2011)3.3.2 Growing Worldwide Economy Correlation Matrix3.3.3 Growing Ageing Population (+60 Years)3.3.4 Excessive Use of MP3 Players
  8. 8. 3.4 Challenges Model Summary – Coefficient of Determination Regression Coefficients Output3.4.1 Increasing Number of Cochlear’s Product Recall3.4.2 Escalating Price Pressure3.4.3 Social Acceptance4. Hearing Instruments - Competitive Scenario4.1 Veteran Affairs Market (US)4.1.1 Phonak4.1.2 Starkey4.1.3 Oticon4.2 Retail Competition4.2.1 Amplifon4.2.2 Costco4.3 UK Private Market5. Company Profiles5.1 Sonova Holding AG5.1.1 Business Overview5.1.2 Financial Overview5.1.3 Business Strategies-Achieving Growth through Innovation-Diversified Geographic Presence5.2 William Demant Holding Group5.2.1 Business Overview5.2.2 Financial Overview5.2.3 Business Strategies-Introduction of Novel & Innovative Products-Dual-brand Strategy
  9. 9. 5.3 GN ReSound5.3.1 Business Overview5.3.2 Financial Overview5.3.3 Business Strategies-Achieve Leadership through Innovation-Focus on New Product Launches5.4 Siemens AG5.4.1 Business Overview5.4.2 Financial Overview5.4.3 Business Strategies-Accelerating R&D Activities-Focus on Healthcare Segment6. Market Outlook6.1 Market Forecast6.2 Forecast Methodology6.2.1 Dependent and Independent Variables6.2.2 Correlation Analysis6.2.3 Regression Analysis
  10. 10. Contact Us: View Report DetailsThese are abridged and sanitized sample pages from the comprehensive report on the “Global Hearing Instrument Market”. Toknow more about this report or for any customized research requirement, please contact the following: Koncept Analytics CS-36, Second Floor, Ansal Plaza Vaishali, Ghaziabad, U.P. – 201010 Vikas Gupta T. +91-120-4130959 BD Manager C: +91-9811715635 vikas@konceptanalytics.com www.konceptanalytics.com

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