WORLD AUDIOLOGY SALES TO GROW AT 5% RATE, SPURRED BY AGING POPULATION, SMALLER HEARING AIDS.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Spurred by an aging population in the industrialized in·dus·tri·al·ize v. in·dus·tri·al·ized, in·dus·tri·al·iz·ing, in·dus·tri·al·iz·es v.tr. 1. To develop industry in (a country or society, for example). 2. world and development of ever-smaller and less visible hearing aids Hearing Aids Definition A hearing aid is a device that can amplify sound waves in order to help a deaf or hard-of-hearing person hear sounds more clearly. , audiology audiology /au·di·ol·o·gy/ (aw?de-ol´ah-je) the study of impaired hearing that cannot be improved by medication or surgical therapy. au·di·ol·o·gy n. product sales will grow from $1.1 billion in 1993 to $1.6 billion by the year 2000 at a 5 percent compound annual rate, projects a new study just released by Frost & Sullivan. Ninety percent of the market is currently accounted for by hearing aids while audiometers and impedance impedance, in electricity, measure in ohms of the degree to which an electric circuit resists the flow of electric current when a voltage is impressed across its terminals. analyzers each make up 3 percent of total revenues and the rest of the market is divided, in descending size order, into EP (evoked potential Evoked potential A test of nerve response that uses electrodes placed on the scalp to measure brain reaction to a stimulus such as a touch. Mentioned in: Spinal Stenosis evoked potential, n equipment), real ear and hearing aid analyzers, otoscopes and electronystagmographs, says the report, WORLD AUDIOLOGY PRODUCT MARKETS: COMPETITORS KEEP EARS TO THE GROUND FOR HINTS OF IMPROVING SALES. Aging of the population will provide a steady stream of hearing aid customers. Advances in microelectronics and biomaterials may result in proliferation proliferation /pro·lif·er·a·tion/ (pro-lif?er-a´shun) the reproduction or multiplication of similar forms, especially of cells.prolif´erativeprolif´erous pro·lif·er·a·tion n. of hearing aids so small they are invisible to others, eliminating the stigma still associated with the devices. Growth is projected to increase later in the decade and in the early years of the next century compared with 1 percent levels in 1993 and 3 percent growth projected for 1994. Audiology products will also be in greater demand as ear disorders become more widely recognized and understood. Market strategies emphasizing consumer education will become more prevalent. Audiology products are becoming more computerized as they grow smaller. Computers are being increasingly used in design of nearly all audiology products, resulting in more efficient, durable and cost- effective equipment that is easier to use and offers more data analysis and storage capabilities. Prices for many types of equipment have been dropping as a result. The first completely-in-the-canal (CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. ) hearing aids were introduced in the early 1990s and the future will bring even smaller devices, such as micro hearing aids that can be placed within the substance of the eardrum ear·drum n. The thin, semitransparent, oval-shaped membrane that separates the middle ear from the external ear. Also called drum, drumhead, drum membrane, myringa, myrinx, tympanic membrane, or attached to the ossicles Ossicles The three small bones of the middle ear: the malleus (hammer), the incus (anvil) and the stapes (stirrup). These bones help carry sound from the eardrum to the inner ear. Mentioned in: Otitis Media, Stapedectomy . By increasingly eroding consumer reluctance to use hearing aids for appearance reasons, these developments will support growth. Hearing aid circuitry will continue to improve as well, screening out unwanted noise and producing more life-like sound. The trend toward combining instruments, such as evoked potential systems and ENGs, will continue. Many vendors now design their systems to be expandable. With the growing use of standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. computer systems, even instruments from different manufacturers can be combined together. Service is the key competitive factor in the audiology products market. Up to 20 percent of hearing aids are returned by end-users. Other audiology products, marketed to practitioners, normally last many years and may require occasional service or upgrades, making after-sale service crucial. Frost & Sullivan is an international high-technology research firm. All Frost & Sullivan reports are based on extensive interviews with marketing and technical experts from selected companies in each market segment. Primary research is validated by thorough analysis of available secondary research. Frost & Sullivan is the leading publisher worldwide of high-technology research reports. Report: 5034-54 Publication Date: 1994 Price: $1695 Total Audiology Product Market: Revenue Forecasts (World), 1990-20003-1 Total Audiology Product Market: Revenue Forecasts (World), 1990-2000gures Revenue Revenues Growth Rate Year ($ Billion) (%) 1990 0.98 _- 1991 1.05 7.2 1992 1.10 4.9 1993 1.12 1.2 1994 1.15 3.0 1995 1.21 4.7 1996 1.27 5.2 1997 1.33 5.5 1998 1.41 5.6 1999 1.49 5.6 2000 1.57 5.6 Compound Annual Growth Rate (1993-2000): 5.0% Note: All figures are rounded. Source: Frost & Sullivan CONTACT: For further information please contact: Amy Arnell Kristina Menzefricke Nadge Keryhuel Mountain View London Paris (415) 961-9000 44 71 730 3438 33 1 4742 9127 (415) 961-5042(fax) 44 71 730 3343 33 1 4742 9129 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion