Hearing aids will be available without a prescription over the counter from October onwards, as announced by the FDA back in August. Hearing aids were wrapped up in US health insurance in a world where getting a hearing aid could be very expensive. The landscape has changed a lot over the last couple of months.
FDA decision to allow over-the-counter hearing loss technology will be a catalyst for innovation
It took me a while to realize that some of the well-known brands have thrown themselves into the hearing aid game, but when you think about it, a hearing aid is a custom set of noise-cancelling headphones in reverse. A number of manufacturers were already well positioned to serve this market if you combine this with a hearing test.
The new generation of hearing aids come in a variety of forms, ranging from the ones offered by Linnerlife, which look a lot like Airpods, to the almost invisible Eargo in- ear hearing aids.
Hearing aids are still regulated and the main change was removing the prescription requirement. This could be a great opportunity to build brands and direct-to- consumer solutions. Everybody was surprised by the FDA's change in policy. It seems that the market is being flooded by professional, medical-grade hearing aids that are reaching for accessibility and downmarket options, and consumer- grade earbuds that are reaching into new markets under new brands.
It is possible that this is another market that Apple would look to shake up in its health focused product, given that it is already one of the most popular in- ear earphone producers in the world. It isn't beyond the realm of possibility that the company could roll out a hearing test app and custom amplification profiles that would allow millions of people to use them as hearing aids.
In any case, this is a market that got very interesting for startup's and even more so for people with hearing loss, even in a short period of time. It will be interesting to see what happens in the years to come. Hearing aids are expected to show up in Christmas stockings this year.
All Rights Reserved © 2024
