Sonova CEO Lukas Braunschweiler provides a Phonak Lyric hearing aid review, and provides a general overview of the hearing loss industry.
Braunschweiler summarizes the market:
The market is basically tremendous. You have 15% of people on this world suffering from any kind of hearing loss, and only about a fifth of people really have a correction.”
When asked why there is resistance to dealing with hearing loss Braunschweiler responds:
Traditionally… hearing instruments have been big. There’s a kind of a stigma going with it. If you wear a hearing instrument you’d have to be old.”
Getting to the Lyric:
Now this new product we call the Lyric is kind of the contact lens of the industry. It is so small … so you have a loudspeaker, a microphone, you have a processor for sound, and you have a battery which lasts for 2 months all built in … “
The interviewer suggests that hearing aids have historically “picked up too much sound.” Braunschweiler responds:
Today we can really automate the hearing instrument to any kind of living or listening situation. I’ll give you an example. You’re sitting in a bar. There’s a lot of noise around you and you would like to speak to a given person. So, hearing solutions today, they can pick focus on you, and really make sure that you get the right kind of voice and the right kind of conversation. And of course with Lyric we have built that technology in as well.”
When asked about manufacturing the Lyric:
This is of course a highly automatic process. I mean, it’s micro technology to its extreme. It’s battery life to its extreme. We have developed the product in California. We have further developed it together with our sites in Switzerland. We produce it actually in Vietnam.
When asked about healthcare reform in the USA, Braunschweiler suggests that he is welcoming the changes.
We profit of course a lot from all these pushes for healthcare reform. They can only help. The US market has been, it will be, our largest market going forward.”
Source: WSJ Live
Last modified: March 16, 2015