New data reveals turbulence in NHS market for hearing aids whilst private sector continues to grow
The British and Irish Hearing Instrument Manufacturers Association (BIHIMA) has released the Q3 results of its members, highlighting the instability in the NHS sector as a result of Brexit alongside positive results in the private market.
In Q3, unit sales to the NHS were up 12.9 percent on Q3 2018, reflecting a pattern of sharp rises and declines in sales of hearing instruments coinciding with Brexit.
At the start of the year in Q1, sales jumped substantially as a result of stock orders from the NHS in preparation of a hard Brexit, with unit sales falling sharply in Q2 following the Brexit postponement.
The results of Q3 mirror that of Q1 says the association, with the increase in sales due to further stockpiling of hearing aids in preparation of Boris Johnson’s leave “come what may” pledge in October.
According to the data, private unit sales, whilst not as strong as previous quarters this year, were up 2.5 percent on the same period last year, and up 5.9 percent year to date.
The results from Ireland demonstrate a similar pattern to the UK private market highlights the BIHMA, with Q3 up 2.6 percent on Q3 in 2018, and up 5.8 percent year to date.
“These are strong results in uncertain times. No matter the level of turmoil in the political landscape, there will always be a need for our members’ products,” said Paul Surridge, Chairman of the BIHIMA.
“We are committed to ensuring the supply chain remains open so that hearing-impaired people have access to the technology that makes such a difference for their quality of life.”
BIHIMA also tracks the trends in the styles of technology being selected by patients in the private sector, with Q3 results showing the continued popularity of RITE (receiver in the ear) and RIC (receiver in canal) styles.
The two hearing aid designs represent an overwhelming 76.7 percent of all sales in the private hearing aid market, a growth of 7.3 percentage points over 12 months as private customers opt for more discreet options.https://thiis.co.uk/new-data-reveals-turbulence-in-nhs-market-for-hearing-aids-whilst-private-sector-continues-to-grow/https://i1.wp.com/thiis.co.uk/wp-content/uploads/2019/09/Hearing-Aid-market-UK-and-Ireland-Brexit.jpg?fit=1000%2C667&ssl=1https://i1.wp.com/thiis.co.uk/wp-content/uploads/2019/09/Hearing-Aid-market-UK-and-Ireland-Brexit.jpg?resize=150%2C150&ssl=1NewsroomNHSReports & ResearchSector NewsBIHIMA,Brexit,hearing aid,hearing aids,hearing-impaired,NHS,Paul Surridge,private sales,RIC,RITE,sales,stockpolingThe British and Irish Hearing Instrument Manufacturers Association (BIHIMA) has released the Q3 results of its members, highlighting the instability in the NHS sector as a result of Brexit alongside positive results in the private market. In Q3, unit sales to the NHS were up 12.9 percent on Q3 2018,...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine