Sonova Holding AG
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Market Intel: Hearing-Aid Companies' Use Of AI, Apps, New Tech Excites Audiologists; Global Hearing-Aid Market Will Reach $11Bn By 2023
Hearing-aid manufacturers are using AI, apps and other new technologies to create devices that are more sophisticated, smaller and more programmable. According to a new report by Informa's Meddevicetracker, the global market for hearing aids will reach $11by by 2023. This article offers an in-depth look at the competitive landscape, products as well as trends, such as new US FDA regulations for over-the-counter hearing aids and devices with language translation capabilities, with key insights from two audiologists.
Market Brief: Device-Makers Answer Call For Better Hearing Aids; Global Market Will Grow 7.4% By 2023
The global market for hearing aids is expected to reach $11bn by 2023, driven by demand from the rising aging population and younger generation looking for technologically advanced hearing aids.
A new hearing aid lets users enjoy the full range of normal hearing frequencies, activated by a contact lens on the eardrum. The hearing aid from Earlens Corp. also provides audio gain without feedback. In October, the company completed an $87m round of financing, which will help launch its next-generation hearing aid, which employs magnetic induction for further hearing refinement.
Consumer technology companies are increasingly making their way into the traditional health-care space with innovative digital solutions that can been seen as a threat to medtech companies. Raluca Cenusa and Brian Chapman of global sales and marketing consulting firm ZS Associates explain how medtech companies can deploy their deep understanding of the clinical, payer and regulatory space, as well as trusting relationships with providers, patients and consumers, to drive growth. This is the first installment of a three-part guest commentary series from Zs focusing on "defense strategies" for traditional medtech companies to keep their tech rivals at bay.
- Medical Devices
- Therapeutic Areas
- Phonak AG
- Western Europe
- Parent & Subsidiaries
- Sonova Holding AG
- Senior Management
Lukas Braunschweiler, CEO
Maarten Barmentio, Group VP, Mktg.
Hansjurg Emch, Group VP, Medical
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Sonova Holding AG
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