Hearing loss is a silent condition affecting millions of people. It’s the third most common chronic physical condition in the US,1 impacting an estimated 15.5 percent (approximately 44.1 million) of American adults age 20 and older.2 This number is projected to rise to approximately 73.50 million by the year 2060.2 Additionally, the World Health Organization estimates that one billion people worldwide are at risk of hearing loss today.3
Hearing loss can be a gateway to reduced quality of life4 and, if not addressed, can also be a route to social isolation5 and depression.6 Hearing loss is more than just a social inconvenience: studies have shown that auditory deprivation can contribute to cognitive decline in older ages7 and the risk of dementia8 and that “the emotional effects of hearing loss can include loneliness, isolation, depression and anxiety.”9,10,11,12 It has been estimated that approximately 28.8 million American adults could benefit from wearing hearing aids;13 yet, they have avoided taking action, citing issues such as stigma,14 inconvenience of multiple in-office visits with professionals15 and poor aesthetic fit/design.14
A landmark Food and Drug Administration (FDA) rule in 2022 established two distinct categories of hearing aids: over-the-counter (OTC) hearing aids and prescription hearing aids, simplifying access to high-functioning devices for the American public.
Pioneering medical tech company Eargo has been at the forefront of accessible and affordable hearing aids for more than a decade and has enthusiastically entered the OTC market. Eargo’s award-winning devices provide the performance, design and support vital to integrating its hearing aids into customers’ lives.
Founded in 2010 with a mission to disrupt a stagnant sector, Eargo’s commitment to improving access to hearing wellness has always been part of its focus – from its early days as a direct-to-consumer company to its omni-channel approach today – all in the pursuit of helping people address their hearing loss and enjoy the sounds of their lives. Eargo has expanded distribution via partnerships with online and brick-and-mortar retailers such as Target, Victra and Amazon as well as insurance partnerships like Blue Cross Blue Shield. And it has expanded its suite of innovative hearing aids that have been raising standards in aesthetics, sound, convenience and affordability.
Recently, Eargo continued its legacy of innovation, expanding its portfolio with the launch of two new products, Eargo SE and LINK by Eargo, in the first quarter of 2024. These new additions join Eargo 7 to create a portfolio of options across usage preference, form factor and budget. All are paired with essential support and resources that are critical in successfully integrating Eargo devices into everyday lives, with the convenience of as much help or autonomy as their users prefer.
© 2024, Lyonsdown Limited. Business Reporter® is a registered trademark of Lyonsdown Ltd. VAT registration number: 830519543
Join the Business Reporter community today and get access to all our newsletters, and our full library of talk show episodes
Join the Business Reporter community today and get access to all our newsletters, and our full library of talk show episodes