The Power of Technology

A change of attiude among consumers

The technological leap in hearing instruments coincides with a change of attitude among older citizens. "The generation of 50+ today is increasingly different from the generation of 50+ only a few years ago. They are the young of the nineteen sixties - the first generation of consumers. They do not see themselves as seniors. They do not accept physical symptoms of tear and wear like loss of hearing. They expect to get the best out of life - all the time. And they are used to spending on themselves, are knowledgeable and discerning customers," says futurist Maria-Therese Hoppe from The Copenhagen Institute for Future Studies, Denmark. "A rapidly increasing number of the generation are used to technology in their everyday-life. Technology is neither scaring nor exciting - if it improves convenience and quality of life, it is readily accepted."

More and more people need a hearing instrument

More people than ever are wearing some form of device to improve their hearing, leading to continued growth in the hearing healthcare market. Take, for example, the sharp increase in the 50 to 65-year age group, which is feeling the effects of heightened noise levels - such as the roar of traffic, or music heard too loud, too often. Add to this the fact that wider social interaction today places greater demands on our ability to communicate. It is therefore reasonable to expect that, in the future, more and more people will need to wear some form of device to improve their hearing.

Only 5 percent of hearing impaired uses a hearing instrument

Already, it is estimated that loss of hearing afflicts more than 300 million people worldwide. Eighteen percent of people between 65 and 74 years of age and 35% over the age of 75 have significant hearing loss. 90% of hearing losses can be helped with hearing instruments, and 10% can be treated medically and/or surgically. Yet astonishingly, fewer than 5% of those who could benefit actually use a hearing instrument.
Source: Frost & Sullivan: World Audiology Product Markets, 1997