Hearing Aid Marketing Expands to OTC Category - 65+ Marketing

Hearing Aid Marketing Expands to OTC Category

A new category of hearing aids can be sold over the counter (“OTC”), pursuant to an August 16, 2022 ruling by the Food & Drug Administration (“FDA”). The announcement opens a new hearing aid marketing opportunity, with the FDA estimating that 30 million baby boomers and other adults could benefit from the new hearing aids. This is a huge market, and one intended outcome is to increase competition among hearing aid suppliers.

The OTC hearing aid category is designed for individuals with “mild to moderate” hearing impairment. The final FDA rule applies to air-conduction hearing aids targeting consumers who are 18 years of age or older. No prescription is required to purchase an OTC hearing aid.

Hearing aids are not covered by Medicare or most health insurance policies. The FDA ruling is expected to make assisted hearing devices more affordable and easier to purchase. The new OTC product category provides an alternative to “personal sound amplification products,” also known as PSAPs.

Guidelines for OTC Hearing Aid Marketing and Sales

If you are interested in selling to this OTC hearing aid market, you have reason to be happy. Qualifying hearing aids can be sold in existing retail stores—like drug stores, pharmacies, and electronics retailers—as well as online. There are many direct-to-consumer marketing campaigns available for the new OTC hearing aid category. Refer to your legal team and the FDA guidelines for full compliance requirements.

There are a variety of these new OTC devices. Most are made such that one-size-fits-all. They do not require you to take measurements of the purchaser nor must a mold or form be made to send out for “final” manufacturing. They are made to be worn out-of-the-box. Further, the expected cost for these hearing aids, based on manufacturers’ information, is expected to be $1,500 to $2,500 less than the prescription models. The prescription types also require hundreds of dollars for doctor fees for examination and fittings.

The Numbers Driving Hearing Aid Marketing Campaigns

Age is the leading predictor of hearing loss among adults aged 20-69. Baby boomers in the 60 to 69 age group suffer the greatest amount of hearing loss, according to the National Institutes of Health. The NIH reports that Americans who suffer from “disabling” hearing loss is distributed along the age scale as follows:

  • 2 percent of adults aged 45 to 54
  • 5 of adults aged 55 to 64
  • 25 percent of those aged 65 to 74
  • 50 percent of those who are 75 and older

While the new OTC hearing aid category is designed specifically for consumers with mild to moderate hearing impairment, the pattern for hearing loss will be similar across the age ranges given above. In other words, hearing aid marketers will see better targeting and response rates from the age range of 65 to 74, as well as 75 and older.

Another interesting fact is that men are twice as likely to have hearing loss as women. Of course, many women (a wife, daughter, or girlfriend) contribute to the purchasing process for men in need of hearing devices.

Hearing Loss Hearing Aid Marketing

How to Start an OTC Hearing Aid Marketing Campaign

It would be a good idea to have a marketing plan outlining how you plan to sell the hearing aid devices. An integrated marketing campaign provides multiple options, including direct mail, Facebook advertising, permissioned email marketing, and digital advertising.

Sixty Five Plus Marketing, Inc. is ready to launch your marketing campaign for OTC hearing aids in as little as 1 to 2 weeks. Contact president Margaret Grisdela by phone at 561-330-7280 or via email for a free marketing consultation to get started.

Three Reasons to Hire Sixty Five Plus Marketing, Inc.

  1. Get More Clients. Drive more business to your website and intake lines when you accelerate your visibility through social media marketing, newsletters, online advertising, and other lead generation campaigns.
  2. Increase Revenue. Targeted marketing campaigns will help you get more business from your current clients, increase word-of-mouth referrals, and accelerate industry referrals.
  3. Save Money. No need to hire your own in-house marketing team when we create and implement structured marketing programs to grow your business.

You will save time and money because Sixty Five Plus Marketing, Inc. gives you immediate access to experienced marketing professionals who get right to work as your outsourced marketing department.

Imagine what you can do with more time and money to focus on your day-to-day business operations and long-term growth strategy! Contact Margaret Grisdela via email or at 561-330-7280 for more information.

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Contact a Baby Boomer Marketing Agency

Sixty Five Plus Marketing, Inc. is a national marketing agency that helps businesses connect with the 65+ senior market. We focus on the healthcare, travel and leisure, and professional services markets. Contact us via email.

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