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.
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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.
William Demant, one of the biggest hearing aid manufacturers and wholesalers, is proposing to acquire Audika, a French retailer of these products, for €168m. In doing so, the Danish company has been questioned as to whether its offer is overly generous.
Israeli-based start-up RealView received US FDA 510(k) clearance for its Holoscope-i holographic system used prior to and during interventional procedures.