Trouble Hearing? You Can Find InnerScope Hearing Technologies Inc. (OTCMKTS: INND) Devices At Walmart

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Hearing loss associated with aging is on the rise as the population grows older, creating increased demand for devices that enable people to hear the sounds around them. 

While the bulk of hearing aids traditionally are sold in medical settings, over-the-counter sales of the devices are on the rise. 

While Sonova Holding AG SONVY, maker of Phonak hearing devices, and Siemens AG SIEGY are among the bigger players in the market, InnerScope Hearing Technologies Inc. INND is making inroads into retailers that will sell its line of hearing aids and hearing amplifiers products. 

The company’s wholly-owned subsidiary HearingAssist recently received a $277,000 order from Walmart Inc. WMT that has it ramping up production of its EZ-Hear Neckband Bluetooth Hearing Amplifiers.

HearingAssist’s EZ-Hear Neckband Bluetooth Hearing Amplifiers will be distributed to 757 Walmart stores in five states: Texas, North Carolina, Tennessee, Colorado and Arizona to meet the demand for in-store purchases. HearingAssist is also rolling out hearing aid product displays to the 757 Walmart stores and expects to continue receiving and fulfilling additional purchase orders.

The EZ-Hear Neckband Bluetooth Hearing Amplifier is a fully rechargeable Bluetooth hearing amplifier that combines hearing amplification with easy-to-use, hands-free calling with a smartphone and music streaming. Designed to easily answer phone call or pause music with a touch of a button and a strong noise-filtering feature making it simple and easy to use. 

The EZ-Hear Neckband Bluetooth Hearing Amplifiers sells at Walmart and Walmart.com for $98.88.

Growing Market for Hearing Aids

The increasing prevalence of hearing loss is expected to boost the adoption of hearing devices. About 466 million people around the world lived with disabling hearing loss in 2018, and the number is expected to reach more than 700 million by 2050, according to the World Health Organization (WHO). 

The global hearing aids market is projected to grow from $6.67 billion in 2021 to $11.2 billion by 2028 at a compound annual growth rate (CAGR) of 7.4%, according to Fortune Business Insights. 

As COVID-19 has raged throughout the world, the hearing device market has declined due to the global lockdowns. But there have been reports of sudden hearing loss as a result of the virus, which may increase demand for hearing aids. Hearing loss affects 5% of COVID-19 survivors, according to WHO. 

While the bulk of the hearing aid market is sold by hearing care professionals in a clinical setting, over-the-counter (OTC) sales are expected to increase because of regulatory reforms that created a category of OTC hearing devices for adults who have perceived mild to moderate hearing loss and can be purchased without a prescription or having to see a medical or hearing care professional. OTC devices are less expensive than those obtained through medical channels. 

In addition to Walmart, InnerScope’s full line of Hearing Aids and Hearing Health products is available at Amazon.com Inc. AMZN, Giant Eagle, Hy-Vee, Hartig Drug and Food City.

The preceding/following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and Skyline Corporate Communications Group, LLC, a financial partner of Benzinga. This article/video is a paid sponsorship by investor relations agency Skyline Corporate Communications Group, LLC, which is paid by InnerScope Hearing Technologies INND for providing investor relations and corporate communications services relating to the Company’s securities. Please see Skyline's 17(b) Disclaimer and Disclosure Statement here: Disclosures - Skyline Corporate Communications Group, LLC. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. The content that follows is for informational purposes only and not intended to be investing advice.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.