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Facts of hearing aid industry | Bengal Speech & Hearing pvt ltd - Best Hearing Aid Clinic

Jun 27, 2015

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Do you want to know this Digital Hearing Aid Industry?

Here we have some facts on Hearing Aids. Lets get some more information on Hearing Aid.

With Growing number of Hearing Loss cases - Bengal Speech & Hearing in association with Hearing Plus is organizing various hearing aid trial program in Major Cities of India like Delhi, Mumbai, Kolkata, Hyderabad, Siliguri, Bhubneshwar.

If you are facing any hearing loss problem, less hearing or any hearing related problem, you must contact your nearest audiologist.

Bengal Speech & Hearing Pvt Ltd - the best hearing loss clinic in Kolkata in association with Hearing Plus - leading hearing aid clinic and Speech Plus - Best Speech Therapy Clinic

  • 1. The Hearing Aid IndustryBrent Edwards, Ph.D.Executive DirectorStarkey Hearing Research CenterBerkeley, CAPresented atMedical Alley/MNBio 4th Annual HealthCare & Biosciences Conference and Expo:Todays Concepts, Tomorrows InnovationsOct 5-6, 2005St. Paul, MN

2. Outline Unique Aspects of Hearing Aid Industry Sales, Marketing, Education Innovation University Involvement Industry TrendsMedical Alley/MNBio Conference, 2005 3. Outline Unique Aspects of Hearing Aid Industry Sales, Marketing, Education Innovation University Involvement Industry TrendsMedical Alley/MNBio Conference, 2005 4. The Hearing Aid Industry $6 billion/year in sales Market split among 6 companies Little product differentiation across flagshipproducts of different companiesMedical Alley/MNBio Conference, 2005 5. The Hearing Aid Industry Venture funds reluctant to invest in HA area Investor (mis)perceptions are:Sales channel restricts distributionTechnology does not drive salesGood startups have tried and failedExit opportunities are limitedIndustry is not strong, only 20% market captureMedical Alley/MNBio Conference, 2005 6. The Hearing Aid Industry:Starkey Laboratories Largest market share in US (25%)Acquired through focus on: Customer care Custom-fit products Manufacturing expertiseThis strategy more successful in some regions ofcountry than othersMedical Alley/MNBio Conference, 2005 7. Outline Unique Aspects of Hearing Aid Industry Sales, Marketing, Education Innovation University Involvement Industry TrendsMedical Alley/MNBio Conference, 2005 8. Sales, Marketing, Education Air-conducted aids are Class INo 510k submissionsCompanies conduct extensive internal and externalclinical trials prior to product launchMedical Alley/MNBio Conference, 2005 9. Sales, Marketing, Education HA companies market and sell toaudiologists/dispensers (Aud/Dis)Not to hearing aid wearers Companies promote benefits for patientImproved speech understandingImproved comfort and for Aud/DisFewer return visits, aid remakes, patient complaintsShorter, easier fitting process Aud/Dis typically select one or two companiesand stick to selling those productsMedical Alley/MNBio Conference, 2005 10. Sales, Marketing, Education Fitting software a major product and decisionfactor for audiologist/dispenserLearning different software from different companies abarrier to switching brandsMajor software releases and new software features tiedto launch of major hardware releasesMedical Alley/MNBio Conference, 2005 11. Sales, Marketing, Education Changing Sales channel:# well-educated audiologists increasing# non-audiologist dispensers decreasing# ENT offices with dispensing clinics increasing Changing landscape requires changes topractices and to technology Most costs are paid out-of-pocket by patientLegislation being proposed to allow coverage of $500/aid Hearing Industry Association has put considerableeffort into promoting this initiativeMedical Alley/MNBio Conference, 2005 12. Sales, Marketing, Education:Starkey Laboratories Starkey flies customers, potential customers,and students to headquarters for 2-3 days ofeducational lectures~100 people/monthBoth product specific and general education talksLectures by Starkey employees and invited researchers Significant educational thrust at national, stateand local audiology meetingsPublish in industry and scientific journalsWebcast lecturesMedical Alley/MNBio Conference, 2005 13. Outline Unique Aspects of Hearing Aid Industry Sales, Marketing, Education Innovation University Involvement Industry TrendsMedical Alley/MNBio Conference, 2005 14. Promoting Innovation Companies in HA industry have 18-24 monthhorizon for R&DSignificant me too development Often little clinical data supporting newtechnologySome industry push for Evidence-Based PracticeMedical Alley/MNBio Conference, 2005 15. Promoting Innovation:Starkey Laboratories Starkey has created a long-term research centerin Berkeley, CA to produce innovations thatrequire 2+ years of researchStarkey Hearing Research Center (SHRC)Novel concept in Hearing Aid industryIsolate researchers from normal R&D activitiesAllow the time necessary to discover breakthroughsConsist of diverse expertise to promote cross-pollinationDevelop research relationship with UC BerkeleyFocus on IP development much earlier than typicallydone in a product-focused companyProvide peer-reviewed publications that support benefitsof product being launchesMedical Alley/MNBio Conference, 2005 16. Outline Unique Aspects of Hearing Aid Industry Sales, Marketing, Education Innovation University Involvement Industry TrendsMedical Alley/MNBio Conference, 2005 17. Company-University Interaction The HA Industry typically funds universityresearch in 2 areas:DSP development Often ends up ignored by sponsorProduct validation & competitive testing IP issues are the most significant roadblock tointeraction between companies and universitiesUniversity ownership rightsPIs attitude towards patenting discoveries and allowingexclusivity for the sponsoring companyMedical Alley/MNBio Conference, 2005 18. Company-University Interaction Key points to consider:If a company cant receive a competitive advantage,they are reluctant to pursue commercialization oftechnology Too many other projects in pipelineShort-term exclusives (2-years) help justify projectfunding and development expense. After termination ofexclusivity, technology can be made available to allcompanies/clinics/patientsMedical Alley/MNBio Conference, 2005 19. Company-University Interaction:SHRC SHRC approach to funding university research:Only fund research with universities that arecollaborative with SHRC Shared protocols, data collection, tools Prevents the shelving of results upon completionSHRC received a grant from state of California to matchfunds on a sponsored project at UC BerkeleyTranslational Research RFPs may promote industryinvolvement in NIH-funded researchMedical Alley/MNBio Conference, 2005 20. Outline Unique Aspects of Hearing Aid Industry Sales, Marketing, Education Innovation University Involvement Industry TrendsMedical Alley/MNBio Conference, 2005 21. Convergence Hearing aid technology is converging with othertechnological advancesBluetooth integrationConsumer electronicsInternetMedical Alley/MNBio Conference, 2005 22. Biotech IndustryPAST Disease defined bysymptoms Uniformity of disease Uniformity of patients Universal treatmentMedical Alley/MNBio Conference, 2005PRESENT Disease defined bymechanism Heterogeneity of disease Heterogeneity of patient Individual therapyBBuurrrriillll,, BBaayyBBiioo 22000055 23. Hearing Aid IndustryPAST Loss defined byaudiogram Uniformity ofimpairment Uniformity of patients Universal treatmentMedical Alley/MNBio Conference, 2005PRESENT Loss defined bymechanism Individuality ofimpairment Individuality of patients Individual therapy Personalization/Individualization will be majortheme in patient treatment 24. Home-directed Healthcare Internet is facilitating healthcare knowledge,access, diagnosis and treatmentLower costs, ease of access Movement by some to take many aspects ofhearing loss rehabilitation directly to patient If happens, unlikely to affect traditionalapproaches negativelyExpand market size, capture those who are not goingthrough traditional channels Ultimately become consumers of traditional devicesthrough traditional channelsMedical Alley/MNBio Conference, 2005