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The hearing-impaired population has grown to 27.2 million, not including residents of nursing or retirement homes. Since 1994, more than 1 million additional people in President Clinton’s age bracket (ages 45-54) have come forward and identified themselves as having a hearing loss. That’s an astounding growth rate of 23%. Other high-growth segments were: persons with annual income greater than $60,000 (35% growth) and individuals with some college (30%). Unfortunately, sales to the baby boomer segment have grown by only 5% since 1994. Thus, overall market penetration continues to drop, reaching an all-time low of 20.4%. The hearing aid market has gained back the very elderly consumers, who dropped out of the market during the period of adversity with the Food and Drug Administration in 1993-1994. Despite efforts to reach primary-care physicians, the percentage of patients reporting that they received a hearing screening during their last physical exam remained unchanged from MarkeTrak IV. However, the number of first-time users who indicated their family doctor recommended hearing instruments is increasing. Satisfaction rates with hearing instruments in general and with newer instruments ((4 years) in particular have remained unchanged since 1994. Despite the increased use of programmable and digital signal processing (DSP) technology, short-term satisfaction (<1 year) has declined. Satisfaction with programmable technology is 16% higher than with non-programmable hearing aids. However, historically too few programmables have been sold to have a major impact on overall customer satisfaction with hearing aids. Some other key findings in MarkeTrak V include the following: • The portion of hearing instruments in the drawer has decreased (improved) to 16.2%. • The new user rate (39%) has rebounded back to 1991 levels. • The average age of new users is showing a slight downward trend since 1991. • The household income of new users is nearly $10,000 higher than in the last survey. • The binaural rate continues to grow. Among patients with bilateral loss who own hearing aids, 78.6% were fitted binaurally. • Third-party payments increased to 27.5%.

“Baby Boomers” spur growth in potential market, but penetration rate declines