[Click on graphic to enlarge.] Annual net unit sales of hearing aids based on HIA statistics, with estimates by Hearing Review on Costco’s market growth.
The fourth quarter (Q4) marked strong growth for the private-sector, with a 8.25% increase in sales compared to Q4 2014. The VA increased its unit dispensing activity by 2.33% during the same period. Total hearing aid unit sales grew by 6.98% in Q4 2015, compared to similarly strong growth during (7.28%) in Q4 2014.
Sales were steady throughout the year, according to the HIA statistics. Compared to the previous quarters in 2014, the market gained 11.32% in unit sales during Q1; 6.53% in Q2; 4.23% in Q3, and 6.98% in Q4.
As mentioned in previous market analyses, it is not known how much private sector growth can be directly attributed to the market gains of Costco and other Big Box retailers. The Hearing Review estimates Costco’s US market share at around 11%, with the retailer’s year-on-year unit growth increasing at an estimated 20-25% pace during the past 5-6 years. It also appears that other mass retailers, like SAMS Club and WalMart, have also been experiencing substantial market growth.