FDA decision to allow over-the-counter hearing loss technology will be a catalyst for innovation

The hearing loss market has long been dominated by a handful of legacy players with little incentive to innovate due to outdated regulations and social stigma. But a new ruling from the U.S. Food and Drug Administration could revolutionize the market by driving competition, giving startups a greater chance at success in this sector.

On Monday, the FDA announced that hearing aids and other hearing technology can now be sold over the counter. This ends a system that mandated a prescription, which resulted in high costs due to low competition — not to mention being a time-consuming and hard-to-navigate endeavor for patients. Founders and insiders in the audiology field think this decision will be a catalyst to bring better products and care to those with hearing loss.

Nicholas Reed, a professor at Johns Hopkins University and a researcher on the intersection of audiology and public health, said this ruling will be monumental in driving innovation in the space.

This article was originally published on TechCrunch.com. Read More on their website.

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