CVS is pivoting ahead of changes that could reshape the hearing aid market. Next year, the FDA will introduce regulations to bring hearing aids over the counter. CVS is also experimenting with new store formats.
CVS Health is closing its roughly 30 hearing centers as it experiments with new store formats and federal regulators write new rules that will allow hearing aids to be sold over the counter.
CVS is pivoting ahead of changes that could reshape the hearing aid market. Next year, the FDA will introduce regulations to allow hearing aids to be sold over the counter, eliminating the need for CVS to dedicate space in stores for audiologists to conduct hearing tests and fit people for the devices.
"The FDA is preparing to approve lower-cost, over- the-counter hearing devices in the near future, and new technology is emerging to enable self-serve hearing testing and care," Pensa said. The law requires the FDA to draft its regulations by 2020, though actually implementing them may take longer.
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