- Over 466 million people current suffer from disabling hearing loss with a further 1.1 billion people at risk of suffering hearing damage
- Elevated device cost, poor after-sales service, and a lack of access to proper healthcare have led to only 14% of the 48 million American with hearing loss to currently use hearing aid devices
- InnerScope Hearing Technologies has sought to address this issue with its affordable direct-to-consumer sales model
- InnerScope CEO, Matthew Moore presented at the Emerging Growth Conference on January 5th, updating shareholders and investors on the company’s latest operational highlights
As of March 2019, the World Health Organization (“WHO”) estimated that disabling hearing loss affected around 466 million people across the globe, out of whom 34 million were children. Moreover, the WHO forecast that up to 1.1 billion people between the ages of 12 to 35 years globally were subject to hearing loss risk, largely due to constant noise exposure (https://ibn.fm/ftcaw). InnerScope Hearing Technologies (OTC: INND), a manufacturer and distributor/retailer of DTC, FDA registered, Bluetooth app-controlled hearing aids and personal sound amplifier products (“PSAPs”), has long sought to become a leader in the direct-to-consumer hearing aid market, with the goal in mind to provide affordable hearing to the tens of millions of Americans suffering from hearing loss today.
Elevated device costs, problems associated with devices such as post-purchase services, battery problems, and maintenance issues, along with poor access to adequate healthcare, are all factors that have historically contributed towards restricting the growth of the global hearing aid market. In fact, a recent White House Fact Sheet revealed that the elevated cost of hearing aids had led to only 14% of the approximately…
NOTE TO INVESTORS: The latest news and updates relating to INND are available in the company’s newsroom at https://ibn.fm/INND
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