The Hearing Aid Market
There’s an awful lot of confusion out there about hearing aids. This is a $6 billion dollar industry today and CNBC reports it could reach $8 billion by 2018! Hearing aids can cost consumers between a couple hundred dollars to thousands (ya that’s a plural)! The secondary market is also booming… Hearing aid adjustments AND service. So where can you turn for reliable information about hearing aids? As it turns out… Reliable information is hard to find. It’s extremely clouded by marketing companies trying to make a buck. The Senior List did find some quality articles that we’re happy to forward on. Additionally, we’ll be looking into this market much more closely, and making some recommendations down the road.
Walkman & iPod Add To Hearing Loss Numbers
Just as we’ve watched (and reported on) the medical alert (and fall detection) market, we’re going to begin tracking the hearing aid marketplace much more closely in an effort to help consumers navigate these confusing waters. With millions of boomers and seniors already in the market for hearing aids, this industry is due to explode. In a matter of years, those of us that experienced the “Walkman Revolution” will be in our 50′s, 60′s and 70′s. Things didn’t just stop with the Sony Walkman… they drastically accelerated to Microsoft Zune and the ubiquitous iPod. If hearing loss is an issue today (and it is a BIG issue) think about what the next decade holds! This industry will boom in the coming years, and what’s needed is some focus and transparency here. Opportunities abound for (legitimate) companies that gain the public’s trust and build their brand. If the value proposition is there, this is one of those rare situations where consumers AND manufacturers will win.
“In a matter of years, those of us that experienced the “Walkman Revolution” will be in our 50′s, 60′s and 70′s. Things didn’t just stop with the Sony Walkman… they drastically accelerated to Microsoft Zune and the ubiquitous iPod.”
Read More: For now, here are some great resources to consider before taking the plunge.