US hearing aid sales surpass 1 million for first time in a quarter

Figures

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The latest hearing aid figures released by the Hearing Industries Association (HIA) show sales in America exceeding 1 million for the 2nd quarter of 2018. During April to June 1,005,141 units were shipped from manufacturers to hearing aid dispensers, audiologists and doctors. Sales for the last three months increased by 5.73% over the same period last year.

Hearing aid sales for the first half of 2018 are up 5.7% as there was the exact same growth during January to March. The statistics, released by the HIA of Washington, DC, and published by The Hearing Review also show that private/commercial sector sales grew by 7.24%, whilst the Department of Veterans Affairs (VA) fell by -0.43%. Further analysis shows big box retailers account for approximately 12% of the total market. The likes of CostCo and Sam’s Club are increasing sales at rates in the 5-8% range.

The American publisher also comments on the growth of IntriCon which is providing a wide array of direct-to-consumer products. The company experienced 30% growth in revenue in 2017. All this makes it difficult for the independent practice, especially as the sector is experiencing continued downward pressure on average sales prices.

Source: Hearing Review

V.A.