European Hearing Aid and Cochlear Implant Market

The retail European hearing aid and audiology device market was valued at over EUR 3.8 billion in 2010, while the wholesale market was valued at almost EUR 1.3 billion, according to a report from companiesandmarkets.com. 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(R) hearing aids and receiver-in-canal models

European Markets for Hearing Aids and Audiology Devices 2011 http://www.companiesandmarkets.com/Market-Report/european-markets-for-hearing-aids-and-audiology-devices-2011-684275.asp?prk=7c4ed5b510c1ffe12b50d9829eddaba2

The European market for hearing devices exhibits high market potential, as the penetration of hearing aid users in Europe is only 18.5%. The growth of the hearing device market is largely dependent on a number of factors, including the reimbursement policies of each country, the technological innovations that are offered by the manufacturers, and the distribution of hearing aids by the retailers to the end users.

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. 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.

Phonak, Oticon, Siemens, GN ReSound and Widex lead the almost EUR 1.3 billion European wholesale market in hearing aids and audiology devices, while Cochlear and MED-EL lead the cochlear implant market. Retail giants Amplifon and AudioNova lead the European market for retail hearing aid and audiology device, 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 Horgerate of Germany, Audika of France and GAES of Spain are also gaining market share as they expand beyond their borders.

Report Details: http://www.companiesandmarkets.com/Market-Report/european-markets-for-hearing-aids-and-audiology-devices-2011-684275.asp?prk=7c4ed5b510c1ffe12b50d9829eddaba2

SOURCE: Companies and Markets