What has your focus been since becoming Sonova’s CEO?
Since I became CEO of Sonova in 2017, my focus has been on emphasizing the broader impact of better hearing on overall human health. This includes acknowledging the connections between hearing and various comorbidities like cognitive decline and physical falls. My personal experiences, particularly with my mother, who has been using hearing aids for 15 years, underscore the significance of this approach. It is not just about advancing technology, but also about raising awareness about the positive impact of hearing care on quality of life and increasing accessibility to hearing solutions. This dual focus on technological advancement and public awareness forms the core of my personal touch at Sonova.
Can you elaborate on the association between hearing problems and other maladies?
Recent studies, including those we supported, reveal a clear medical link between untreated hearing loss and cognitive decline, as well as increased risk of falls. These findings are crucial both from a quality of life perspective and a health economics standpoint. Our involvement in these studies reflects Sonova's commitment to advancing medical evidence and public understanding of the impact of hearing loss. This understanding is vital for motivating people to take proactive steps in managing their hearing health.
Next to aging population, what are the primary causes of the global increase in hearing loss?
The global rise in hearing loss can be attributed to various factors. Aging populations contribute significantly, but there is also a noticeable increase in hearing loss due to increased exposure to high noise levels. This exposure varies by geography and individual circumstances, including one-time incidents in high-noise environments like construction sites or battlefields, and ongoing exposure to loud environments. These factors lead to a physiological decline in hearing ability, prompting the need for hearing assistance at earlier stages in life.
Could you describe Sonova's solutions for hearing loss, including prevention devices?
Sonova's product range has evolved from traditional hearing aids to a wide array of solutions. We offer hearing protection devices, both off-the-shelf and custom-fitted, to prevent hearing loss.
Our core offerings include hearing aids for various degrees of hearing loss, from mild-to-moderate and severe-to-profound, and specialized pediatric solutions. We introduced Roger Devices, a dedicated microphone technology used in schools and workplaces to enhance hearing in noisy environments. Additionally, we have developed early entry devices compliant with OTC regulations in the US, allowing self-fitting options for users.
Lastly, our most impactful solution is the cochlear implant, designed for individuals with complete hearing loss or those who have never heard. This technology translates sound into electrical signals directly stimulating the hearing nerve, offering a profound impact on users' lives.
How much do we understand about the science of hearing loss, and what are Sonova's contributions in this field?
Our understanding of hearing loss is extensive, particularly in how it occurs. In most cases, hearing loss results from the malfunctioning or loss of delicate hair cells and other structures like neurons in the cochlea, which are responsible for converting sound vibrations into electrical signals for the brain. Age-related hearing loss, for instance, is due to the gradual loss of these delicate structures, which do not regenerate.
Sonova’s hearing aids amplify sound signals to stimulate the remaining hair cells, while cochlear implants bypass these cells entirely, converting sound directly into electrical signals.
Apart from age, other causes of hair cell damage include excessive noise exposure and certain chemotherapy treatments. Additionally, there is a genetic aspect to hearing loss, often observed in familial patterns. Sonova’s research and product development focus on these diverse causes, aiming to provide tailored solutions across the spectrum of hearing loss.
To what extent do hearing solutions need to be individualized?
Individualization in hearing solutions is critical. The journey begins with recognizing hearing loss and conducting screenings, which we provide through various channels, including digital. A full assessment by an ENT doctor is usually made, to ensure that a hearing aid or cochlear implant is the appropriate solution. After the assessment, trained hearing care professionals conduct detailed testing to understand the patient's specific needs in different sound environments. The hearing aid is then individually programmed to cater to the user’s unique hearing profile, which includes the frequency spectrum and the level of loss in each ear. The fitting process is iterative, involving initial adjustments and subsequent fine-tuning based on user feedback.
Another area where individualization is important is in the crafting of custom-made earpieces for a perfect fit. These often provide an improved overall experience and better sound quality, especially for people with profound hearing loss.
We also empower users with the ability to make adjustments to the device themselves, through applications connected to their smartphones. This self-engagement aspect is growing, with the introduction of over-the-counter, self-fitting devices in the U.S., marking a shift towards consumerization in healthcare.
What are some of the more interesting innovations Sonova is currently working on?
Sonova is at the forefront of several groundbreaking innovations in hearing technology. One of our key focuses is integrating sophisticated algorithms into the compact space of a hearing aid, while maintaining low energy consumption. This includes transitioning from traditional sound processors to more advanced, miniaturized chip technologies, allowing for more powerful processing capabilities.
We have been pioneers in introducing rechargeability and full connectivity with Android and Apple devices in hearing aids. Looking ahead, we are exploring the integration of artificial intelligence and deep neural networks for enhanced denoising capabilities directly in the hearing aids. This advancement would significantly improve the user’s ability to discern speech from background noise.
Additionally, we are incorporating sensor technology into our products, like accelerometers for early fall detection and pulse measurement, with potential future additions like blood pressure monitoring. These innovations not only cater to hearing but also address related health issues, marking a shift towards making hearing aids intelligent, multifunctional devices. Furthermore, our advancements in remote connectivity allow for real-time, anywhere adjustments to the hearing aids, enhancing user convenience and experience.
Given Sonova's significant share in the global hearing aid market, what are your predictions for the market's macroeconomic trends in the coming years?
The hearing aid market is witnessing a positive trend in global penetration, a trajectory that is expected to continue despite economic fluctuations. This growth is partially driven by governmental initiatives expanding coverage, recognizing the high benefits of hearing aids for the aging population. For example, Japan recently lowered the threshold for hearing aid eligibility, and France introduced significant changes in reimbursement policies. In the U.S., the advent of over-the-counter (OTC) regulation and increased managed care coverage are noteworthy developments.
Sonova plays an active role in these shifts by supporting research that underscores the link between hearing loss and comorbidities, thereby influencing government policies. Beyond reimbursement, we are also focused on raising awareness about hearing loss, educating ENTs and general practitioners, and increasing the availability of skilled hearing care professionals globally, especially in lower-income countries like China. Additionally, we are committed to enhancing the technology of our devices to make them more user-friendly, appealing, and efficient, thereby improving customer satisfaction and further driving market penetration.
Why did Sonova acquire Sennheiser's consumer division?
The acquisition of Sennheiser’s consumer division aligns with our strategy to cater to a segment of consumers who prefer self-fitting and more discreet hearing solutions. We recognize the growing demand for diverse form factors in hearing devices, such as earbud-style devices for use in noisy environments and regular hearing aids with self-fitting capabilities. The collaboration with Sennheiser, a brand renowned for high-quality audio products, provides us with an advantageous position in terms of branding and market access. Sennheiser's strong presence in digital platforms and traditional retail stores like Best Buy offers a distinct channel to reach consumers.
This acquisition not only broadens our product portfolio but also enables us to leverage Sennheiser’s technological advancements and brand recognition. The potential for technology sharing is significant, with possible integrations ranging from sensor technologies to artificial intelligence applications. This partnership represents a strategic move to diversify our offerings and appeal to a wider range of consumer needs and preferences in the evolving hearing aid market.
