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Hearing Aid Clinics - Industry Market Research Report

  • March 2016
  • -
  • Ibisworld
  • -
  • 39 pages

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All ears: An aging population and greater healthcare access will ring in demand



Abstract

Hearing Aid Clinics

The Hearing Aid Clinics industry is expected to grow during the five years to 2016. Following a multiyear drop during the recession, the industry has rebounded thanks to beneficial demographic trends, the expansion of private healthcare coverage and, ultimately, the improving economy. Because Medicare, the government-funded health insurance program that provides coverage for adults over the age of 65, does not cover hearing aids, out-of-pocket payments for industry products have remained important during the five years to 2016. Consequently, the rise in disposable income has benefited industry operators during this period. The persistence of current trends is expected to further grow the industry over the next five years. Perhaps most importantly, the US population is expected to age at an even faster rate than the previous five years. Because individuals aged 65 and older are the single-largest market for industry services, this demographic trend will continue to facilitate demand for industry products.


This industry retails hearing aids for consumers of all demographics and ages. Industry operators also frequently provide hearing tests and consultation services within the store.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.



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