Report Shows Growth In European Hearing Aid Market

The European hearing aid and audiology device market has shown aggressive growth, with its new valuation at over €3.8 billion in 2010 according to a latest report.

The study, by iData Research, shows that whilst the retail market is expected to grow rapidly by 2017, the wholesome market was only valued at almost €1.3 billion.

The research company revealed that retail giants Amplifon and AudioNova were leading the European market in 2010 with the majority of their revenues generated in Italy, Germany, Switzerland and the Netherlands.

Dr. Douglas Fung, Analyst Manager at iData, said: “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.”

The report, called “European. Markets for Hearing Aids and Audiology Device 2011found that Phonak, Oticon, Siemens, GN ReSound and Widex lead the wholesale market due to its emerging technologies such as the new wireless GN resound alera and the high-end oticon hearing aid Agil.

Cochlear implants are expected to be the fastest-growing segment reaching €360 million by 2017.

The research includes comprehensive analyses of the wholesale and retail hearing aid markets by style, circuit and battery size and of cochlear implants.