US hearing aids sales showing strong growth in second quarter

market

© Alexandr Mitiuc- Fotolia

According to statistics from the Hearing Industries Association (HIA), Washington, D.C., hearing aids sales in the United States in the second quarter showed strong growth. Sales in the commercial market increased by 3.3% while those reported by the Department for Veterans Affairs (VA) were up 10.2% compared to the same reference period a year before. The VA now accounts for more than one fifth of hearing aids units sold, at a level of over 21%. This gave a total increase for the second quarter of 4.75%. Sales have recovered well following a difficult start to 2014 when severe winter weather in the US hit consumer spending in general (-4% in January).

In the past, the growth rate has been around 2 to 4%, making these results “average-to-good” according to the HIA. The forecast for the year, on the basis of these statistics, is that the industry may well exceed the 3-million-unit mark. US sales make a significant contribution to the results of European companies, many of which are leaders in their area, such as Switzerland’s Sonova, and Denmark’s William Demant, GN Resound or Widex A/S. Up to 45% of their revenues come from North America.

Interestingly, it is not known how much of the recorded sales gains are related to superstore retail sales versus sales through dispensing offices.

Source: Reuters

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