A research study
titled, “Cochlear
Implants Market by Type and End User – Global Industry Analysis and
Forecast to 2025” published by Crystal Market Research, states that the
cochlear implants market is projected to be around $3 billion by 2025.
A cochlear implant is a device which delivers electrical
stimulation to the auditory nerve present in the inner ear. Children and adults
affected by profound hearing loss who cannot use hearing aids can be helped
with cochlear implants. Hearing loss can arise from hereditary as well as
non-hereditary factors or due to certain complications during childbirth or
pregnancy. Acquired causes of hearing loss may include infectious diseases such
as meningitis, measles or other chronic ear infections. The major impact of
hearing loss is on an individual’s ability to communicate with others which in
turn, may have social and emotional impact such as feeling of isolation,
frustration and loneliness. As per the data revealed by WHO, in February 2017,
around 360 million people worldwide are suffering from hearing loss, of which
32 million are children. Nearly one third of people over 65 years of age are
suffering from disabling hearing loss.
Browse full research report with TOC on “Cochlear
Implants Market by Type and End User – Global Industry
Analysis and Forecast to 2025” at:
http://www.crystalmarketresearch.com/report/cochlear-implants-market
In 2016, unilateral implants segment held a major share
of the overall cochlear implants market, as the surgery for unilateral implants
in done at a lower cost as opposed to bilateral implants. Bilateral implants
market will exhibit fastest growth rate over the forecast period, due to the
exceptional results of these implants for children. Children who have undergone
bilateral implantation benefit from the implants to localize sources of sound
and recognize speech in noisy environment at home or school. On an average,
children with bilateral implants perform better than unilateral implants on
tests of movement tracking and localization.
Adults segment dominated the global market in 2016, due to
the presence of large number of adult patients suffering with hearing loss as
compared to children. Cochlear implants enhance communication ability in most
of the adults suffering from severe to profound deafness which in turn deliver
positive social and psychological benefits. Pediatrics segment will exhibit
fastest growth rate over the forecast period, due to availability of favorable
reimbursement policies for implants in children. For instance, the Belgian
National Institute for Health and Disability Insurance provides reimbursement
for bilateral cochlear implants in children less than 12 years of age since
2010. Also, the government of India provides reimbursement for cochlear implant
procedures for prelingually deaf children from age group between 1 to 16 years.
In 2016, Europe accounted for the major share of the global cochlear implants
market, owing to the presence of large patient base, rapidly growing elderly
population, and increased adoption of implants due to improved healthcare
infrastructure in the region. North America held the second largest share of
the overall market and is expected to witness an impressive growth over the
forecast period, due to rising prevalence of hearing loss, high adoption of
advanced products, and well-established healthcare infrastructure. According to
the National Institute of Deafness and Other communication Disorders, out of
every 1,000 children in U.S., around 2 to 3 children are born with a detectable
hearing loss in either one or both ears.
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Research Report @
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Some of the key players operating in this market are William
Demant Holding A/S, Cochlear Ltd., MED-EL, Gaes Group, Sonova Holding AG,
SeboTek Hearing Systems, LLC, Nurotron Biotechnology Co. Ltd, Audina Hearing Instruments, Inc. and GN Store Nord
A/S. These companies are highly focused on continuous innovation in
technology to produce more sophisticated implants. For instance, in 2016,
Cochlear announced the commercial availability of two new bone conduction sound
processors, Cochlear Baha 5 and Baha 5 superpower.
Key
Findings of the Research Study:
·
Unilateral implants held the largest share of
the global market in 2016, as the cost of unilateral procedure is low.
·
Adults segment dominated the global market in
2016 and is projected to continue its lead during the forecast period.
·
Pediatrics segment is poised to grow at the
highest growth rate during the forecast period, due to the proven benefits of
bilateral implantations in children along with favorable reimbursement policies
for implantations in children.
·
European market was the largest in 2016 as a
result of large patient pool and improving reimbursement policies. In UK,
adults and children who fulfill the criteria are eligible for cochlear
implantation free of cost under the National Health Service (NHS).
·
Asia-Pacific is projected to be the fastest
growing region during the forecast period, primarily due to high patient
population, growing awareness about the early implantations, and rising
disposable income of people.
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Cochlear Implants Market Segmentation:
By Fitting Type:
- Bilateral Implantation
- Unilateral Implantation
By End User:
- Pediatrics
- Adults
By Region:
- North America
o U.S
o Canada
o Mexico
- Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
- Asia-Pacific
o Japan
o China
o Australia
o India
o South Korea
o Rest of Asia-Pacific
- Rest of the World
o Brazil
o South Africa
o Saudi Arabia
o Turkey
o United Arab Emirates
o Others
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more informed decisions. It provides both syndicated as well as customized
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healthcare, chemicals & materials, technology, automotive, and energy.
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