New launches boosted Demant and GN's standing among veterans in May

However, Sonova may well get a better grip on the market again towards the end of the year, as the company is expected to launch a major new project this fall.
Photo: Gn / Pr
Photo: Gn / Pr
by MARKETWIRE ‎

The launch of new top products in May has paid off for both Demant and GN in the US government sales channel, Veterans Affairs (VA), which customizes hearing aids for military veterans.

GN’s market share - measured by share of total sales - increased to 11.4% in May from 8.6% in April.

Demant’s share increased to 20.3% in May from 16.6% in April.

Both Danish companies have thus benefited from the launch of new products on the sales channel in May.

For GN, this was Resound Nexia, which was launched on the rest of the market last year, but just too late for the launch window in November at VA.

The sales channel has two annual launch windows - one on May 1 and one on November 1 - and products must have been on the market for three months before they can be included in the VA contract.

Demant has also made a big splash with its latest top product, Oticon Intent, which was launched in early 2024.

The two listed Danish companies have also taken market share from all three other players.

Swiss Sonova, which is the world’s largest hearing aid manufacturer, saw the opposite trend - declining share. Sonova’s market share fell to 48.1% from 53.3% in April.

However, it may well regain market share towards the end of the year, as the company is expected to be ready with a major new launch this fall.

Privately held US company Starkey also declined. The company reduced its share to 13.3% from 14.3% the month before, while WS Audiology, which is represented by the Signia brand, declined to 6.9% from a 7.2% share in April.

Overall, sales of hearing aids and hearing systems through VA increased to USD 43.3 million in May, up from USD 40.1m in April.

Judging by the share price, the figures seem to have been published as early as Wednesday afternoon Danish time.

In any case, the Sonova share fell by approximately 2% from around 4 pm until closing time, where it ended in a total decline of 0.9% for the day.

Conversely, GN and Demant’s share price rose in the afternoon, landing 3.8% higher at DKK 222.70 (USD 32.3m) and 3.8% higher at DKK 339 (USD 49), respectively. 

English edit: Catherine Brett

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