Last updated on April 18, 2014 at 17:24 EDT

Audiologist Survey Reveals Market Share Gains and Losses for Phonak, Widex and Siemens in $5.7 Billion Hearing Aid Market

September 27, 2011

Wireless Bluetooth, Cochlear Implant Adoption to Fuel U.S. Hearing Aid
Sales to Almost $8 Billion

VANCOUVER, Sept. 27, 2011 /PRNewswire/ – According to a new report by iData
Research (www.idataresearch.net), the leading global authority in medical device market research, the
U.S. hearing-aid and audiology device market was valued at over $5.7
billion in 2011. Technological advancements in cochlear implants,
bone-anchored hearing-aids and the introduction of wireless Bluetooth®
capability from Starkey, GN Resound and Cochlear America is expected to
fuel this market to almost $8 billion in annual sales by 2018. iData’s
report is also accompanied by an Audiologist survey, which reveals
consumer perception and preferences of hearing-aid brands.

“Over 78% of survey respondents who use Phonak, Starkey and Oticon
hearing-aids indicated that quality and customer service were top
concerns,” says Dr. Kamran Zamanian, CEO of iData. “In contrast, price
and ease-of-use were comparatively more important for consumers of
Siemens, Lyric, Unitron, and others. In addition, the influence of
different advertising media on a consumer’s purchase decision had a
stark contrast between brands.”

The report states that Phonak has gained market share in the retail and
wholesale hearing-aid market with the acquisition of large group
practices to broaden their U.S. distribution channels. In contrast,
Siemens, in an effort to maintain its market share, has undertaken a
strategy of price-reductions and formed a strategic alliance with
retail giant Amplifon.

“Additionally, the cochlear implant and bone-anchored hearing-aid
segments were the fastest-growing,” says Dr. Zamanian. “This is due to
technological advancements in device size, sound quality and a
historically low adoption rate, which is expected to increase with
patient awareness campaigns. In addition, emerging bone-anchored
hearing-aid competitors such as Sophono and Sonitus Medical are
expected to drive down traditionally higher prices set by Cochlear
America and Oticon.”

For more information, register free on iData’s website at: http://www.idataresearch.net/idata/registration.php

iData’s 4-report series on the: “Markets for Hearing-Aids and Audiology Device” provides a comprehensive analyses of the wholesale and retail
hearing-aid markets by style, circuit, battery size and more.

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,
cardiovascular, orthopedics and more.

SOURCE iData Research Inc.

Source: PR Newswire