The initial MarkeTrak VIII survey, by Sergei Kochkin, PhD, results have been released.
“The key findings in this 25 year look at the hearing health market are as follows:
- The hearing loss population has grown to 34.5 million over the last generation.
- The prevalence of hearing loss has grown from 266 to 295 people per thousand households in the last 20 years.
- 61% of people with hearing loss are males (virtually unchanged over the past generation.60% of people with hearing loss are below retirement age.
- The incidence of hearing loss in the U.S. is 11.3%.
- Over the last quarter century, the hearing loss population grew at the rate of 1.6 times the population growth primarily due to the aging of America.
- Hearing aid adoption continues to increase slowly to one in four.
- –4 in 10 people with moderate to severe hearing loss use amplification for their hearing loss.
- –While 1 in 10 people with mild hearing loss use amplification
- Binaural fittings continue to grow and now 90% of people with bilateral loss use binaural hearing aids.
- Hearing screenings by physicians increased to nearly 15%.
- The first time hearing user profile is virtually unchanged probably meaning that open-fit hearing aids did not tap any new market segments.
- –37% of hearing aids fit are to new users
- –Their average age is 68.8
- –And their average household income is $54k
- Hearing aid owners on average wait 7 years before purchasing a hearing aid after they learn of their hearing loss; while non-adopters have known about their hearing loss on average for about 12 years.
- In terms of life-stage the key market segments for hearing aids are: Retired couples, older singles, working older couples and older parents.”
This study states that of the 34.5 million people in the U.S. with hearing loss, approximately 26 million of them have taken no action to improve their hearing. Sergei Kochkin summarizes that of those 26 million who have taken no action, 11 million of them should be in hearing care offices today taking corrective action. The remaining 15 million with uncorrected hearing loss should continue to be educated on hearing loss, prevention, and treatment.
How can you tell if you are one of the 11 million or the 15 million? Ron Perry of Preferred Hearing Solutions says that a reputable hearing care practitioner, with proper testing procedures, will tell you in which category you will fall. If you fall in the 15 million category, he will recommend periodic follow-up hearing tests to keep a watchful eye on any potential increase in hearing loss. If you fall into the 11 million category, he will make an appropriate recommendation for hearing devices that will provide better hearing of speech in all situations. Be certain to ask the practitioner to explain his findings.
A full pdf version of the study may be read or downloaded here: http://www.betterhearing.org/pdfs/Kochkin_MarkeTrak8_OctHR09_hr.pdf




Preferred Hearing Solutions – "Quality Hearing Is Our Concern"
Better Hearing Institute