Sounds Good: Hearing Aid Clinics in the US Industry Market Research Report Now Available from IBISWorld

Following recessionary declines, the industry is expected to improve during the next five years, largely due to the implementation of the Patient Protection and Affordable Care Act, the rising number of individuals suffering from hearing deficiencies related to diabetes, greater use of mobile music devices and an aging US population. For these reasons, industry research firm IBISWorld has added a report on the Hearing Aid Clinics industry to its growing industry report collection.

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As the population ages and healthcare reform gives more people coverage, demand is forecast to expand

Los Angeles, CA (PRWEB) June 17, 2013

The Hearing Aid Clinics industry has contracted slightly during the past five years as declines in insurance coverage and consumer income combined with rising hearing aid prices. Following the financial crisis, a number of individuals were left “without private health insurance coverage as unemployment levels rose,” says IBISWorld analyst Austen Sherman. “In addition, disposable income fell, leaving hearing aids as a luxury for a large number of those in need.” As a result, industry revenue declined from 2009 through 2011.

More recently, the Hearing Aid Clinics industry has returned to growth, says Sherman. “Employment levels have improved slightly and federal funding for health insurance programs has expanded in anticipation of healthcare reform.” As a result, IBISWorld estimates industry revenue will rise 3.2% in 2013. Nevertheless, recent performance will be unable to overcome earlier losses, resulting in anticipated revenue decline of 0.2% per year on average to $2.0 billion in 2013.

The past five years have exacerbated a broader trend of consolidation within the industry. The Hearing Aid Clinics industry's largest operators have always looked to purchase small nonemployers to expand their number of storefronts and increase their consumer exposure. Declining revenue even forced some of the industry's largest operators to declare bankruptcy, making them prime targets for acquisitions. For example, a Siemens AG affiliate purchased HearUSA in 2011 after the latter filed bankruptcy. Fortunately for the remaining operators in the industry, the consolidation has helped push profit margins slightly higher during the past five years.

During the next five years, the industry is expected to benefit largely from the implementation of the Patient Protection and Affordable Care Act; 32 million uninsured Americans are expected to gain coverage through 2019, according to the Congressional Budget Office. In addition, the number of individuals suffering from hearing deficiencies is expected to remain high due to the expanding diabetes epidemic, the rising use of mobile music devices and headphones and the aging US population. For more information, visit IBISWorld’s Hearing Aid Clinics in the US industry report page.

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IBISWorld industry Report Key Topics

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

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


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