11/13/2019 Industry & market trends - Amplifon Corporate

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Industry & market trends

A highly attractive market

The global hearing retail aids market has an estimated value of around
€14.2 billion euros and is expected to grow around 4% over the next few
years as a result of demographics and increase in penetration rate.

Approximately 15% of the world’s adult population has some degree of

hearing loss and, out of these, the World Health Organization estimates that
460 million have a disabling hearing loss. Due to the increasing life
expectancy of global population, this number is expected to double by 2050.
Untreated hearing loss represents an annual global cost of 750 billion dollars.

 
Growth drivers
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11/13/2019 Industry & market trends - Amplifon Corporate

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The hearing
(/home) aids retail market has been historically growing at a healthy rate
and Amplifon expects this to continue thanks to favorable secular trends:
demographics and penetration. Alongside these secular drivers, two
favorable trends are emerging: a generation of increasingly active and
dynamic consumers and the rising role of digital.

 
 
Competitors in the hearing aids retail market

Around half of the global hearing aids retail market is made

of independents (i.e. players with generally few points of sale or very small
chains).

Around 35%, is comprised of the specialty retailers, of which 25% are

international players (including Amplifon and hearing aids manufacturers
vertically integrated - such as Sonova, William Demant, GN Store Nord,

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11/13/2019 Industry & market trends - Amplifon Corporate

Sivantos, Starkey and Widex) with the balance of 10% owned by national
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retail chains.
(/home) Amplifon, with almost 10% market share, is the only pure
hearing retail global leader.

Pharmacies, grocery stores and opticians providing professional audiological

services represent the segment of non-specialty retailers, which account for
more than 10% of the retail market.

Lastly, online players which are very marginal today (<3%).

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