According to the World Health Organization (WHO), 360 million people globally and 38 million people in the U.S. suffer from some form of hearing loss. Nine out of 10 cases can be treated with technology.
Today, the retail market for hearing aids generates $5 billion in the U.S. and $12-15 billion globally, growing three to six percent per year. Two and a half million hearing aids are sold in the U.S. each year, at an average retail price of $3,000 per pair. And just six brands — Sonova, William Demant, Siemens, GN Store Nord, Starkey Technologies and Widex — account for 98 percent of the market.