Sonova, William Demant Lead European Hearing Aid Market due to Premium Product Innovationsby iData Research September 22, 2016
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According to a new series of reports on the European hearing device market by iData Research (https://www.idataresearch.com), innovation is occurring across all product types and having a positive effect on market average selling prices. All device market segments, including batteries, are consistently being upgraded with the newest features and technologies. Unit sales in some European countries have dramatically increased, most notably in the U.K. and Germany.
“The sales for a majority of the region are maintained primarily due to the reimbursement policies that help patients acquire hearing aids,” explains Dr. Kamran Zamanian, CEO of iData. “But while some countries have increased their reimbursement rates, such as Germany, the dominant trend is a reduction in reimbursement policies across the region due to mounting budgetary constraints, which will put pressure on the overall market.”
The multi-billion dollar European hearing aid market consists of the sale of hearing aid devices to either private retail chains, public healthcare systems that dispense hearing aids or to patients through retail sales. The cochlear implant market in Europe is a relatively newer segment of the market and has recently gained momentum in terms of unit sales and market penetration, accounting for an above average growth rate. The bone anchored hearing system market is the fastest growing segment in the hearing device market in Europe. While this market has a much larger potential customer base, it has yet to reach the penetration rates that cochlear implants enjoy. Nonetheless, the bone anchored hearing system segment is expected to grow dramatically over the next several years given the large untapped market in Europe.
Denmark had the highest penetration of hearing aids of all the European countries due to offering one of the highest reimbursement rates compared to any other European country. In addition, three of the largest hearing aid manufacturers, Oticon, ReSound and Widex, are headquartered in Denmark, where their combined lobbying power has also greatly contributed to the high penetration of hearing aid devices. The United Kingdom hearing aid market held the second highest penetration of hearing aids in Europe because the National Health Service is the single largest purchasing organization of hearing aid devices in all of Europe.
Sonova is the market leader in most European countries including Germany, France, Italy, Spain, the Netherlands, Belgium, Sweden, Finland and Switzerland. They compete by offering higher priced premium-quality hearing aids which has also built a strong reputation in Europe. Phonak operates under the Sonova holding group, which also owns Unitron in addition to other newly acquired companies such as Advanced Bionics in the cochlear implant market, and Lyric, the manufacturer of the invisible ITE hearing aid. The company owns direct retailing distribution in Belgium with Lapperre and in Austria through Hansaton, which has boosted sales for Phonak hearing aids in both countries. Additional competitors in the European hearing device market include William Demant, Sivantos, GN ReSound, Widex and Starkey among others.
For Further Information
More on the hearing device market Europe can be found in the report published by iData entitled Europe Market Report Suite for Hearing Devices. The market segments covered in this report Hearing Aid Market by Style, Hearing Aid Market by Circuit, Bone-Anchored Hearing Air Market, Cochlear Implant Market, and Hearing Air Battery Market.
The iData series on hearing devices covers the United States, Mexico, China, India, Japan, South Korea, Australia, Brazil and 15 countries in Europe. Full reports also provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about hearing device market data or procedure data, register online or email us at firstname.lastname@example.org for a Europe Market Report Suite for Hearing Devices report brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Dental Operatory Equipment, X-Ray Imaging, Vascular Access, Peripheral Vascular, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Diagnostic Imaging, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Oncology, Ultrasound, Laparoscopy, Urology, Gynecology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large and Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics and more.
About Procedure Tracker
Procedure number data is available from iData’s Procedure Tracker service, which allows subscribers to define and analyze procedure data segmented by state, region, hospital, surgery centre, and physician. A customizable dashboard sorts procedure data for further analysis and research.
About Reimbursement Tracker
iData Research’s Reimbursement Policy Tracker enables medical device, dental, pharmaceutical and healthcare professionals to receive real-time policy updates from hundreds of insurance companies and 60,000+ policies across all therapeutic areas in the United States.
About iPolicy Search
iPolicy Search allows medical device manufacturers and reimbursement consultants to drastically reduce their research time by searching an automatically updating database of policies from over 200 insurance groups in the United States.
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