Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Hearing Aids: Innovators Must Change the Channel

This article was originally published in Start Up

Executive Summary

Ten percentage of the population in industrialized companies could benefit from hearing aids, and since the market remains 80% unpenetrated, new hearing aid companies and their financial backers see an enormous opportunity. But the hearing industry presents unique challenges compared to other medical device markets; the poor performance of past devices keeps people from buying hearing aids, as does the lack of reimbursement. Profitability is difficult for manufacturers to achieve, because manufacturing of the custom devices doesn't benefit from economies of scale. Finally, small companies have a tough time getting past the gatekeepers of the hearing industry--audiologists who have entrenched relationships with dominant manufacturers. New companies are entering the market with widely different approaches, some based on technology, some based on changing distribution channels. For some, the new approaches have clearly failed; others are embarking on new strategies that have yet to play out.

You may also be interested in...



Align: Selling Innovation to Late Adopters

Align Technology emerged from an unlikely source-two second-year Stanford business students with no previous start-up experience. These entrepreneurs were able to sign on major venture backers in a field which has never before attracted much interest from medical device investors: orthodontics. The founders' idea was that, by using advanced product design and manufacturing processes, the company could produce the Invisalign system of removable, clear plastic dental appliances that, for certain orthodontic patients, particularly adults-a large untapped market--could take the place of traditional metal braces. The challenge for the new company: to tap into a fragmented physician market not accustomed to new technology, moreover with a consumer-preferred device.

Rodney Perkins: The Physician as Device Entrepreneur

While many ideas for new devices originate with physicians, the true doctor/entrepreneur is rare. Rodney Perkins is one of the few who's actually been successful at it.

Unilever Hit With Class Action Over Mercury-Laced Pond’s Cream Originating In Mexico

According to the plaintiff, Unilever’s Pond’s Rejuveness Anti-Wrinkle Cream is defective insofar as tested product has been found to contain unlabeled mercury, constituting negligence that has resulted in user injuries. The plaintiff seeks certification of a transnational class and compensatory and punitive damages, among other relief.

Topics

Related Companies

Related Deals

UsernamePublicRestriction

Register

MT037188

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel