The entry of local companies selling inexpensive products has led to intense competition in the Elderly and Disabled Assistive Devices Market worldwide. Leading companies like Sonova Holding AG are being influenced by this to use organic and inorganic strategies to expand their global presence.
In September 2016, the hearing aid producer AudioNova from the Netherlands was purchased by Sonova Holding AG. Through this acquisition, Sonova was able to more than double the number of retail locations that it already had in Europe. By increasing the number of retail locations and providing personalised solutions to specific customers, Sonova Holding AG is putting into practise a vertically integrated business model.