Reporting by GlobalData Healtchare
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In May last year, Bose received 510(k) clearance from the US Food and Drug Administration (FDA) for first of their kind, over-the-counter (OTC) hearing aids. Since then, the audio equipment manufacturer has faced mixed public opinions on expanding its market reach into the notoriously underpenetrated hearing aids market. Despite the carefully limited initial launch of its SoundControl Hearing Aids and setting a far more affordable price-point against its competitors, the challenges of capturing adequate market share had proven to be unsustainable for Bose, resulting in its quiet exit from the market earlier this month.
Bose has historically focused on consumer products within the audio industry like headphones and speakers, often leading the industry with new technologies, most notably active noise cancellation. More recently, the company developed the opposing technological application of sound amplification technology, as it saw a market opportunity for treating millions of adults with mild to moderate hearing loss.
Analysis by GlobalData reveals....
Read the original article on Medical Device Network here.
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