Get an Earful of This Growing Healthcare Stock
The crack of the bat. The roar of the ocean and the surrounding seagulls. A crackling fire. Family dinner conversations. According to innovative hearing aid maker Eargo's (NASDAQ: EAR) most recent investor presentation , 43 million Americans have hearing loss and may have difficulty with these beloved sounds, yet only 27% of them have a hearing aid. Despite such low market penetration, there was over $8 billion spent on hearing aids in the U.S. in 2019.
Eargo is seeking to disrupt and modernize the market with its sleek, virtually invisible, inside-the-ear hearing aids. Management believes that if they can decrease the stigma of visible hearing aids and offer a more comfortable option for patients, they can expand the market, taking a growing share of what they believe to be a potential $30 billion pie in the U.S. alone. Capturing just a fraction of this opportunity would make Eargo's $2.3 billion market cap soar.
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Source Fool.com
