Receiver-In-Canal, Cochlear Implants and Bluetooth Technologies Drive European Wholesale Market
VANCOUVER, March 8 /PRNewswire/ - According to a new report by iData Research (www.idataresearch.net), the leading global authority in medical device and pharmaceutical market research, the retail European hearing aid and audiology device market was valued at over €3.8 billion in 2010, while the wholesale market was valued at almost €1.3 billion The retail market is expected to grow rapidly by 2017 due to aggressive growth strategies among local and international retail chains and the adoption of new technologies such as wireless Bluetooth® hearing aids and receiver-in-canal models.
Retail giants Amplifon and AudioNova were leading the European market in 2010 with the majority of their revenues generated in Italy, Germany, Switzerland and the Netherlands where hearing aids are primarily distributed through private stores. However, local retailers such as KIND Hörgerate of Germany, Audika of France and GAES of Spain are also gaining market share as they expand beyond their borders.
"Retail hearing aid markets are highly fragmented across Europe as they comprise a mixture of private retail chains and public healthcare institutions that dispense hearing aids," says Dr. Douglas Fung, Analyst Manager at iData. "One of the main drivers of the adoption are private retail chains that promote their uses and benefits to consumers."
Moreover, Denmark, U.K, Norway, Sweden and the Netherlands, had the highest penetration rates due to favorable reimbursement in these countries.
Furthermore, the report states that Phonak, Oticon, Siemens, GN ReSound and Widex lead the almost €1.3 billion wholesale market due to new emerging technologies such as GN ReSound's wireless Bluetooth® Alera™ and Oticon's high-end Agil™. In addition, cochlear implants led by Cochlear and MED-EL, are expected to be the fastest-growing segment reaching €360 million by 2017.
iData's 14 country report entitled: "European. Markets for Hearing Aids and Audiology Device 2011" includes comprehensive analyses of the wholesale and retail hearing aid markets by style, circuit and battery size and of cochlear implants.
For more information, register free on iData's website at: http://www.idataresearch.net/idata/registration.php
About iData Research
iData Research (www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on providing market intelligence for medical device, dental and pharmaceutical companies. iData covers research in: hearing-devices, endoscopy, cardiovascular, dental orthopedics, pharmaceuticals and more.
SOURCE iData Research Inc.