Mr. Calvin Zhang, CEO and Founder of Incus, delivered a keynote address at the Global Sources Mobile Electronics Show on October 19th, 2023, held at the Asia-World Expo in Hong Kong.
The Global Sources Mobile Electronics Show is the world's largest export-focused sourcing fair for mobile electronics. It attracts foreign importers seeking cutting-edge technology and designs in mobile devices, smart wearables, portable speakers, charging products, and mobile accessories.
During his keynote entitled “The Sound of Change: How Over-the-Counter Hearing Aids Are Transforming Hearing Care”, Calvin explained how Chinese consumers are underserved by the traditional hearing aid industry. He shared forecasts on how the domestic Chinese market will grow from approximately USD 1.2B in 2019 to USD 4.1B in 2028, largely due to the rise of over-the-counter devices.
Addressing a distinguished audience of foreign VIP buyers, Calvin highlighted the convergence of demographic trends, market dynamics, and technological advancements, which create an opportune moment to disrupt the conventional hearing aid industry. For example, advances in semiconductor technology has enabled Incus to integrate 28nm system-on-chips (SoCs) into its devices, which have ten times higher computing power than traditional hearing aids. Incus’ chips with high computing power support the deployment of smart algorithms and makes mass customization economically feasible in the new era of hearing aids, where performance is largely defined by software algorithms.
Lastly, Calvin drew attention to the global impact of hearing loss as a significant health issue, emphasizing that a vast majority of those in need lack access to hearing aids. Citing the WHO World Report on Hearing (2021), he stated that unaddressed hearing loss incurs an annual cost of USD 980 billion worldwide, and the prevalence of hearing loss is projected to increase in every region by 2050.
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