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Demograghics and New Technologies Fueling DemandAn estimated 30 million individuals, or about 20% of the adult population in North America, are living with some level of hearing impairment. Approximately 85% of Audiotech's clients are over the age of 50. According to a recent study, the number of North Americans aged 65 or older is expected to more than double by the year 2025. As the baby boomer generation ages, the proportion of the North American population of retirement age will increase dramatically. There is strong evidence to suggest that retiring baby boomers will seek and demand a better quality of life. Medical science is also making it possible for them to live longer than any other generation before them. Audiotech is optimistic that baby boomers, in their attempt to improve the quality of the retirement years, will embrace new hearing aid technologies. The generation-long practice of listening to extremely loud music may also have a considerable impact on the demand for hearing care services as such sound levels are typically well in excess of the noise levels generated by industrial applications that have long been blamed for hearing loss. |
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