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Hearing loss costs the UK £13.5 billion in lost earnings each year but just 0.1 per cent of that sum - £16.5 million - is spent on research that could help people to hear, RNID is revealing ahead of a major national conference it is holding on hearing research today (Wednesday 14 November 2007).
The charity will warn delegates at the ‘Hearing the Future’ conference, organised by RNID for the UK’s 9 million deaf and hard of hearing people, that drastic under-funding threatens the development of life-changing treatments.
And with hearing loss the third most common chronic condition in older people after arthritis and high blood pressure, RNID says pharma companies are missing out on a potential drug development market worth 1.5 billion dollars.
The charity is calling on drugs companies and voluntary and public sector science funders to change the lives of millions of deaf and hard of hearing people by investing in research to prevent or treat hearing loss – and end the social withdrawal, isolation and depression it causes.
Dr Mark Downs, RNID’s executive director of technology and enterprise, said: "The cost of hearing loss to the UK economy is billions – the cost to people’s quality of life is immeasurable. And with an ageing population and high levels of social noise, the problem is set to increase.
"Hearing loss represents a massive untapped opportunity for pharmaceutical companies, who could transform lives and access a 1.5 billion dollar market by devoting more time and funds to hearing research.
"Support from public, voluntary and private sector research funders is vital to turn promising research into practical benefits for the millions who struggle to hear their friends, family and the world around them."
Dr Jonathan Gale of UCL’s Ear Institute, said: "Despite significant progress in this field in the last few years we still have a long way to go to restore people’s hearing using biological approaches.
"Critically, more research is needed to gain a better understanding of how the ear is built during normal development, how it responds to damage and what changes occur in the ear during ageing.
"All of these require high quality fundamental research and, of course, funding. With appropriate levels of funding the future for people that want to prevent hearing loss and restore 'lost' hearing is bright."