Bone-Anchored Hearing Aid Market to See Almost Tenfold Increase
VANCOUVER, Jan. 19 /PRNewswire/ - According to a new report by iData Research (www.idataresearch.net), the leading authority in medical device, dental and pharmaceutical market research, the U.S. Bone-Anchored-Hearing-Aid market will increase almost tenfold by 2016, while the overall market for hearing aids and audiology devices will reach over $7 billion. The report also contains the results of an audiologist focus group, which has found that patient income levels significantly impact hearing aid style preferences.
iData's report states that open-fit or receiver-in-canal models were the most popular styles, particularly among middle and high-income households, due to aesthetic and comfort preferences. The traditional behind-the-ear (BTE) models were the second most popular, particularly among lower-income households due to Medicare and Medicaid reimbursement constraints and the style's long history in the market. However, traditional BTE hearing aids are quickly becoming eclipsed by the rising popularity of open-fit and receiver-in-canal styles. Over the forecast period, the overall number of units sold and average selling price of BTE models is predicted to decline.
The report also states that the bone-anchored-hearing-aid segment will be the fastest growing of the overall U.S. market for hearing aids, climbing at a compound annual growth rate of 35.5% by 2016.
"Bone-anchored-hearing-aids created a treatment option for a portion of the hearing impaired population who could not be treated with standard hearing aids," says Dr. Kamran Zamanian, CEO of iData. "Because there are hundreds of thousands of untreated patients market growth will be rapid."
iData's U.S. Market for Hearing Aids and Audiology Devices report includes comprehensive analyses of the markets for bone-anchored-hearing-aids, cochlear implants, diagnostic devices, AOE/ABR analyzers, audiometers, tympanometers, real-ear analyzers, otoscopes, hearing aid batteries and the overall hearing aid market by style and circuit. The report also provides the results of a comprehensive audiologist focus group and detailed competitive analyses, which cover companies such as Cochlear, Oticon, Phonak, Siemens, Starkey and Widex, among others.
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, orthopedics, cardiovascular, dental, pharmaceuticals and more.
SOURCE iData Research Inc.