Sivantos Group, a German hearing aid manufacturer and previously a division of the engineering giant Siemens AG, recently launched its new binax product that will be beneficial to China's aging population.
During the ceremony held in Macao, the German firm noted that their new item allows users to understand speech in "certain demanding environments" with its binaural and wireless technology features.
Backed by two clinical studies, the company said that the new hearing aids "provide better intelligibility of the Chinese language."
The binax products can be remotely controlled by a mobile app called TouchControl.
"As we focus on product innovation, the company will increase its investment with 'no limit' in the Chinese market because we see great potential here," Sivantos CEO Roger Radke said in an interview with the Global Times.
"We expect the Chinese market, which is our second-largest in the world, will surpass our largest market, the U.S., in the next five years with double-digit growth," Radke added.
The launching of the product also coincides with this year's 20th anniversary celebration of Siemens hearing aids' first unveiling in China.
Pharmaceutical analyst Xu Lingni emphasized that there has been an increasing demand for such items as China's population ages.
In a July report from industry news platform chyxx.com, it shows that 60.5 percent of total hearing aid sales in 2014 were from the large demand for body hearing aids. Meanwhile, behind-the-ear models accounted for about 32 percent.
Xu said that more "Chinese customers prefer body hearing aids because they are easier to operate and cost less than behind-the-ear hearing aids."
Data from domestic market research firm chinabgao.com revealed that Siemens is the leading hearing aid brand in China for 2015. The German firm was followed by the Swiss and Danish brands Phonak and ReSound, respectively.