The hearing aid market can be examined at either a retail or manufacturer level. The retail hearing aid market segment represents the revenue generated from retailers selling hearing aids to end users. The manufacturer hearing aid market segment represents the revenue generated from manufacturers selling their hearing aids to retailers. This approach was taken in order to do a comparison of the market revenue of the manufacturers of the hearing aid devices versus the retail hearing aid sales. While the ASP and market values are provided for both segments in this overview section, it is worth noting that the figures reported in following market analysis and forecast sections are representative of the market at a retail level.
Standard hearing aids are medical (electroacoustic) devices designed to treat sensorineural hearing loss, typically fitting into or behind the patient’s ear. Hearing aids are designed to amplify and modulate sound, and vary with style, size, power and circuitry. The unit consists of an amplification circuit – digital or analog – a receiver and a transducer. All these elements are placed within a plastic shell designed to fit into or around the ear. They are powered by a disposable zinc-air battery and come in many styles, catering to the preferences and concerns of the patient. The circuitry of a hearing aid is offered in varying levels of quality and price.