US Hearing Aid Market - Top Manufacturers
The top five manufacturers of hearing aids based on market share in the US are Sonova (30%), William Demant (21%), GN Resound (17%), Starkey (16%), and Sivantos (formerly Siemens) (12%). The market share percentage is based on sales at the end of 2015, the latest data available, and our research suggests that there hasn't been any significant change since the end of 2015. Below, you will find more details.
METHODOLOGY AND FINDINGS
To find data on the top manufacturers of hearing aids in the US, our research team started by extensively searching market research databases such as IBIS World, Market Research, Grandview Research, Orian Research, among others. Although we found data on global players, some of whom are based in the US, we didn't find any objective data OR metric such as their market share or revenue with which to rank them.
Next, we decided to search statistic databases such as Statista and Statistics Brain. We were able to find data on the top manufacturers ranked by market share based on their total sales in the US at the end of 2015 on Statista (see the screenshot of the data). Wonder has a policy of only using sources not older than 24 months so we tried to find more recent data. However, we discovered that the data has not been updated and it is the latest available.
We tried to use recent revenue figure to rank the companies listed as key players but this was not possible because the companies are global companies and they only published global revenues without any break down by country. In addition, most also of the companies operate in other markets and didn't publish sales for just hearing aids.
We also tried to find more recent data on the biggest players in the US by reviewing media and industry sources such as Hearing Mojo, Hearing Review, Fullerton Hearing, Audiology Worldnews, among others. We did find several recent lists of the biggest manufacturers but none had a metric with which to rank them. However, the data helped support the fact that the 2015 list from Statista is most likely still accurate.
For instance, Hearing Mojo stated that the “Big Six” hearing aid manufacturers globally are "Sonova Group AG, GN ReSound, Sivantos (Siemens), Starkey Hearing Technologies, William Demant, and Widex" and that they account for about 80% of all hearing aid sales in the world. Five out of the six on the list are the same companies featured on Statista's list we have provided as the top five. A 2018 market report published by Hearing Review also lists the same set of companies. This is also the case in a 2017 report published by Fullerton Hearing.
Hence, we have concluded that the data published by Statista based on 2015 sales is most likely still accurate as we didn't come across any data that suggests that the U.S. market has changed significantly since the end of 2015. However, there is a possibility that Sivantos (formerly Siemens) now has a bigger market share than it did in 2015 as the company also acquired TruHearing in 2018.