Overview:
A cochlear implant (CI) is an electronic device that aids in hearing for a person who is severely hard of hearing in both ears. The device is implanted surgically and works by transmitting sound signals to the brain. Unlike hearing aids that amplify the sound at the outer ear, the cochlear implant system bypasses the non-functioning parts of the ear and delivers sound in the form of electrical signals through the hearing nerve. 3M became a pioneer in the cochlear implant market with the approval of the first cochlear implant in 1984.
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Technological encroachments in the field of cochlear implants, the growing number of infants born with hearing disorders, favorable government initiatives, and strategic initiatives by market players are projected to catalyze the global cochlear implant market. For instance, a novel rechargeable battery was launched by MED-EL in May 2016 for SONNET Audio. The battery has a very low charging time and can provide ten hours of life. Furthermore, in September 2016, Cochlear Ltd. launched the slimmest full-length perimodiolar electrode for their cochlear implant that helps protect the delicate parts of the inner ear. As a result, advancements in such devices, as well as increased awareness among patients and physicians, are expected to drive the cochlear device market. According to the World Health Organization (WHO), there is a high demand for hearing loss aids, as the current production of the devices can only meet up to 10% of the actual demand. Hence, there are enormous opportunities for key players to expand their market share.
The global cochlear implant market is segmented based on fitting type, end-user, and geography. Based on fitting type, the global cochlear implant market is categorized into bilateral implantation and unilateral implantation. In 2017, unilateral implantation was expected to be the prominent segment, contributing more than 50% of the market share due to growing demand and cost-effectiveness. However, bilateral implantation devices are projected to be the fastest-growing segment due to the increasing demand for cochlear implants by pediatrics. Furthermore, the majority of the countries are only providing reimbursement for bilateral implantation devices. Based on end-user, the global market is segmented into adults and pediatrics. In 2017, the adults segment dominated the global market due to the availability of a vast patient base and fewer surgical complications compared to pediatrics.
Asia Pacific is projected to be the fastest-growing segment due to the high prevalence of hearing defects in the region, increasing awareness in the region, favorable government initiatives, and the presence of key players. Key markets in the region include Japan, China, Australia, and New Zealand.
The global cochlear implants market is divided into the following segments:
Global Cochlear Implants Market, by Fitting Type, 2016–2026 (US$ Mn)
- Unilateral Implantation
- Bilateral Implantation
Global Cochlear Implants Market, by End-Users, 2016–2026 (US$ Mn)
Global Cochlear Implants Market by Geography (US$ Mn), 2016-2026
- North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- Rest of Europe
Asia Pacific
Latin America (LATAM)
- Brazil
- Mexico
- Rest of LATAM
Middle East and Africa (MEA)
The following companies have been identified as key players in the cochlear implants market:
Cochlear Limited, Oticon Medical, William Demant Holding A/S, MED-EL, PENTAX Medical, LSVT Global, Inc., Games Medica, Sonova, EBS Healthcare, and Nurotron Biotechnology Co., Ltd.
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This report offers the following:
- Market estimations of the global cochlear implant market for the span of 10 years from 2016 to 2026 are provided, which quantifies the growth of the market during the forecast period.
- a comprehensive market outlook for global cochlear implants, as well as future trends
- Global cochlear implants market elucidation at the granular level through market segmentation based on various parameters
- Challenges to be faced by the market during the forecast period
- What are the key sustainability strategies adopted by market players?
- Profiling of the key players operating in the cochlear implant market, along with graphical positioning of the major players
