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Effects of economy and FDA intervention on the hearing aid industry.

PURPOSE: The purpose of this study was to examine the effects of the economy and the Food and Drug Administration's (FDA) intervention on the hearing aid industry. METHOD: A 3-stage least squares regression technique was used to analyze the hearing aid market. RESULTS: Our results show that, while r...

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Publicado en:American Journal of Audiology Vol. 14; no. 1; pp. 71 - 80
Autores principales: Amlani AM, De Silva DG
Formato: equations & formulas research tables/charts Journal Article
Publicado: American Speech-Language-Hearing Association Jun2005
Acceso en línea:Ver este registro en EBSCOhost
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      dt: Jun2005
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      pub: American Speech-Language-Hearing Association
      place: Rockville, Maryland
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        atl: Effects of economy and FDA intervention on the hearing aid industry.
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          Amlani AM
          De Silva DG
        affil: Department of Hearing Sciences, Texas Tech University Health Sciences Center, 3601 4th Street, Stop 6073, Lubbock, TX 79430; amyn.amlani@ttuhsc.edu
      sug:
        subj:
          Hearing Aids Economics
          Industry Economics
          United States Food and Drug Administration
          Advertising
          Communications Media
          Consumer Attitudes
          Cost of Living
          Costs and Cost Analysis
          Descriptive Statistics
          Regression
          Technology Trends
          Human
      ab: PURPOSE: The purpose of this study was to examine the effects of the economy and the Food and Drug Administration's (FDA) intervention on the hearing aid industry. METHOD: A 3-stage least squares regression technique was used to analyze the hearing aid market. RESULTS: Our results show that, while recessionary periods reduced both demand and supply, the demand side of the hearing aid industry is significantly more responsive to changes in the economy. Further, the demand function within the hearing aid industry is inelastic. Finally, negative media coverage from nationally televised reports during the FDA's intervention between the 2nd quarter of 1993 and the 3rd quarter of 1994 did not significantly affect the market demand of hearing aids. CONCLUSIONS: The demand for hearing aids increases in a flourishing economy and decreases during periods of recession. The negative media campaign from the FDA's intervention between the 2nd quarter of 1993 and the 3rd quarter of 1994 had essentially little effect on the end user. The repercussions of the FDA's intervention have resulted, however, in a reduction in the market supply of hearing aids and an increase in their cost due to manufacturer-sponsored clinical trials.
      pubtype: Academic Journal
      doctype:
        equations & formulas
        research
        tables/charts
        Journal Article
      ougenre: Article
    language: English
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