Turn it up: Outsourcing intensifies competition for hearing aid manufacturers

The Hearing Aid Manufacturing industry is highly globalized and dominated by a variety of international firms. The industry sells high-tech products that can range drastically in price. Rising healthcare costs and other factors have spurred consumers to seek the most affordable hearing aids on the market, and firms have increasingly competed on price. Over the next five years, revenue is forecast to grow due to rising need-based demand for hearing aids from the elderly population...purchase to read more.

Industry Statistics & Market Size
Revenue
$1bn
Annual Growth 12-17
-2.9%
Forecast Growth 17-22
Profit
Employment
4,789
Businesses
13

Industry Threats & Opportunities

  • Rising need-based demand for hearing aids from the elderly population will grow revenue
  • The industry has been characterized by consolidation and high market share concentration
  • Joint ventures will enable manufacturers to produce discrete, high-quality devices
  • Industry Report - Industry Products Chapter

    RIC/RITE hearing aidsReceiver in the canal (RIC) and receiver in the ear (RITE) hearing aids are expected to account for 37.0% of total revenue in 2017. According to data from the Hearing Industries Association (HIA), RIC/RITE hearing aids make up more than one-half of total hearing aids sold in the United States. Many individuals with hearing loss or impairment have purchased RIC/RITEs over the past five years, as these hearing aids feature smaller speakers and receivers, which are placed in the ear rather than behind the ear.BTE hearing aidsIn 2017, behind-the-ear (BTE) hearing aids are anticipated to generate 15.6% of total industry revenue. Typically, this type of hearing aid has been a traditional choice for patients that cannot use RICs/RITEs. For...purchase to read more.

    Additional Insights for the Hearing Aid Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hearing Aid Manufacturing Industry are

  • Ability to effectively change community behavior
  • Ability to quickly adopt new technology
  • Development of new products
  • IBISWorld analysts also discuss how external factors such as Trade-weighted index and Number of adults aged 65 and older in the Hearing Aid Manufacturing industry impact industry performance..

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    What's in this report

    What is the Hearing Aid Manufacturing Industry?

    This industry manufactures audiological devices, including hearing aids, measurement and testing devices and cochlear implants.

    Industry Products
  • RIC/RITE hearing aids
  • BTE hearing aids
  • ITE hearing aids
  • ITC hearing aids
  • CIC hearing aids
  • Cochlear Implants
  • Industry Activities
  • Manufacturing behind-the-ear hearing aids
  • Manufacturing on-the-ear hearing aids
  • Manufacturing in-the-ear hearing aids
  • Manufacturing in-the-canal and completely-in-the-canal hearing aids
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Trade-weighted index
  • Number of adults aged 65 and older
  • Demand from warehouse clubs and supercenters
  • Demand from medical supplies wholesaling
  • Federal funding for Medicare and Medicaid

  • Current Performance
  • Domestic market
  • Global trade
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • A hostile domestic market
  • International trade
  • Table: Hearing Aid Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hearing Aid Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Pharmacies & Drug Stores
  • Department Stores
  • Hospitals
  • Elderly & Disabled Services
  • Civic, Social & Youth Organizations
  • Consumers

  • Key Selling Industries
  • Biotechnology
  • Petrochemical Manufacturing

  • Products & Services
  • RIC/RITE hearing aids
  • Cochlear Implants
  • BTE hearing aids
  • ITE hearing aids
  • ITC hearing aids
  • CIC hearing aids
  • Chart: Hearing Aid Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Individuals aged 40 to 69
  • Individuals aged 70 and older
  • Individuals aged 39 and younger
  • Chart: Major Market Segmentation for the Hearing Aid Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Hearing Aid Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hearing Aid Manufacturing Industry

  • Industry Globalization
    William Demant Holding Group, Starkey Hearing Technologies, Sonova Group, Sivantos Group,
  • Table: William Demant Holding Group - financial performance
  • Table: Starkey Hearing Technologies - financial performance
  • Table: Sonova Group - financial performance
  • Table: Sivantos Group - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Hearing Aid Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Hearing Aid Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Trade-weighted index (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Behind-The-Ear (Bte) Hearing Aids
  • Behind-the-ear hearing aids fit behind the ear and provide sound to the patient's ear through a small length of tubing in the ear canal.
  • Cochlear Implants
  • A small electronic hearing device for patients that are deaf or significantly hard of hearing, which has an external portion that goes behind the patient's ear and a part that is surgically implanted.
  • In-The-Ear (Ite) Hearing Aids
  • In-the-ear hearing aids fit in the outer ear bowl, or the patient's concha.
  • Receiver-In-Canal (Ric) Hearing Aids
  • Receiver-in-canal hearing aids are small digital hearing aids that are attached to a small ear tip by a micro tube.
  • What Our Customers Say

    Why buy this report?

    The Hearing Aid Manufacturing industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hearing Aid Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hearing Aid Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hearing Aid Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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