This may be music to the hearing aid industry‘s ears. CNN is reporting that up to a billion people are at risk for hearing loss, and we’re not talking about boomers and seniors today. The iPod generation has officially been put on notice, that continued exposure to loud noises (without protection) can and will damage your long-term hearing prospects.
iPod Generation and Hearing Loss
In February the World Health Organization (WHO) issued a press release that included these details (and more): “Some 1.1 billion teenagers and young adults are at risk of hearing loss due to the unsafe use of personal audio devices, including smartphones, and exposure to damaging levels of sound at noisy entertainment venues such as nightclubs, bars and sporting events, according to WHO. Hearing loss has potentially devastating consequences for physical and mental health, education and employment.”
Teenagers and young people can better protect their hearing by keeping the volume down on personal audio devices, wearing earplugs when visiting noisy venues, and using carefully fitted, and, if possible, noise-cancelling earphones/headphones. They can also limit the time spent engaged in noisy activities by taking short listening breaks and restricting the daily use of personal audio devices to less than one hour. – World Health Org.
Younger folks don’t realize yet that once you lose your hearing, it’s gone for good. The solutions are tiny devices that cost big money (yes more than your fancy new iPod nano). These devices come in the form of hearing aids or personal sound amplifiers, and this is big business for some! Did you know that the top 6 hearing aid manufacturers control 98% of the hearing aid market? Sanford C. Bernstein is a leading Wall Street research firm and in 2013 they provide key data points on the hearing aid market for industry guidance. Bernstein estimated the following market share in terms of “unit sales”:
Hearing Aid Market Leaders
1) Sonova (owner of Phonak et al.): 24%
2) William Demant (owner of Oticon et al.): 23%
3) Siemens: 17%
4) GN Store Nord (owner of GN ReSound, et al.): 16%
5) Starkey Technologies: 9%
6) Widex: 9%
Disrupting such a well controlled market is difficult but not impossible. Innovative companies like Apple, Samsung and a host of start-ups eyeing this market have the means, aptitude and capacity to pivot this market right on its ear! Until then, let’s turn down the volume a bit eh? (Oh yea… and stay off my lawn!)
Photo credit: Apple