Thursday, August 02, 2012

The magnitude and scope of hearing problems and the business opportunity it creates

A while back I got a PR release sent to me about Sonic  - the manufacturer of hearing devices. Interesting looking devices and company.

The release contained some fascinating numbers and the PR company were very quick to provide me with the sources - always a good sign.

I thought I would give you the data taken straight from the release.

It’s More Common Than You Think
According to a study published in the Archives of Internal Medicine, more than 48 million Americans suffer some form of substantial hearing loss in at least one ear. That’s nearly 20% of people living in the U.S. – a much larger number than previously thought.

Few People Address the Problem
A new study from Johns Hopkins University found that of the 26.7 million Americans age 50 and older suffering from significant hearing loss, only one in seven uses a hearing aid. Even more troubling is the fact that hearing loss that goes untreated is often linked to fatigue, stress, depression and dementia.

It’s Not Just a Problem for the Elderly
According to the Journal of the American Medical Association, 1 in 5 teens suffer the same degree of hearing loss comparable to the age-related loss normally found in adults in their fifties and sixties. That’s an increase of 15% over the last decade.

If you want to know where the data came from then read here and here.

The bottom line is that hearing loss is potentially a huge business. For it to achieve its full potential, age related hearing loss needs to be treated like its brother – sight loss. For some strange reason we don’t mind wearing glasses but balk at the idea of using an aid to boost our failing hearing. Dick Stroud

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