The US Hearing Aid Industry: Trends and Updates (TX-143-24-034)-The US Hearing Aid Industry: Trends and Updates (Slides)

The US Hearing Aid Industry: Trends and Updates (Slides)

Pdf Summary

This presentation provides an update on the US hearing aid industry, sponsored by Oticon, Inc. It covers key insights from MarkeTrak, predictions about over-the-counter hearing aids by the Hearing Industries Association (HIA), and upcoming changes in 2023 and beyond. The presentation also discusses market statistics, payment methods, and recent entrants in the industry. Key trends driving industry growth include the aging population, global effect of untreated hearing loss, connectivity and digitalization, capturing the customer, and new competition. The legislative overview focuses on promoting the welfare of the hearing healthcare industry through activities such as educating Congress on HIA's position on over-the-counter hearing aids, conveying HIA's position on Medicare expansion, and minimizing the behavior of "bad actors". Consumer insights reveal positive experiences with healthcare professionals, satisfaction rates, and the opportunity for out-of-warranty hearing aids. The summary highlights the headwinds and tailwinds of the industry, as well as Oticon's commitment to private practitioners. The presentation concludes with a Q&A session and contact information for further inquiries.

Keywords

US hearing aid industry

over-the-counter hearing aids

MarkeTrak

Hearing Industries Association

2023 changes

aging population

connectivity

digitalization

consumer insights

Oticon commitment