At an exhibition at the global 2012 Bio International Convention in Boston, US, Action on Hearing Loss promoted the commercial opportunities of finding treatments for the conditions, holding a total of 27 meetings with companies from around the world and bringing key industry players together to develop new solutions.
Dr Ralph Holme, Head of Biomedical Research at Action on Hearing Loss, said there is currently great interest surrounding the issue of hearing loss, and the pharmaceutical industry seems to be on the cusp of a "significant change" in its approach to conditions like tinnitus. "Many of the large pharmaceutical companies we spoke to have all reached the conclusion that the field is now mature enough for them to start work on hearing loss and are actively exploring ways to do so. Our job is to now make it as easy as possible for them to invest in the best approaches to protecting and restoring hearing and silencing tinnitus," he added.
Tinnitus, a sound in one or both ears for which there is no external source, is experienced by around 15 per cent of people at some point in their lives. It is most common in people over the age of 60.