March 02, 2020: The global cochlear implant market is projected to witness a higher CAGR of 10.6% by 2022. A cochlear implant is a tiny and complex electronic device that helps in providing a sense of sound in people with hearing disabilities. The implant comprises an external portion at the back of the ear and another portion operated under the skin. Technically, it has components like microphone, speech processor, transmitter, receiver/stimulator, and an electrode array.
An implant does not help in regaining normal hearing. It could help the patient with a useful representation of sounds in the surrounding and recognize the nature of speech. It is thus completely different form a hearing aid. Cochlear implants can bypass the damaged portion of ear and enable the auditory nerve. The signals sent by the implant are sent via auditory nerve to the brain. Hence, hearing through cochlear implants is different from normal hearing.
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The drivers for cochlear implant market include proliferation of surgical implants owing to market expansion between players and rise in government support. In addition, technological advances and strategic initiatives. The cochlear implant is segmented by type that includes unilateral implantation and bilateral implantation. End-user segment for cochlear implant market includes pediatrics and adults.
Geographical segmentation for cochlear implant market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. European regions held a maximum share in the global scenario in 2017 due to high number of implants and availability of large patient pool.
North America accounted for a significant market share due to rise in geriatric population and demand for hearing devices. The U.S. regions have registered a rise in number of minimally invasive surgeries and medical advances owing to availability of product portfolio and product upgrades. Strategic alliances and launch of digital apps for medical service are contributing to the market development in the near future. The key players in the cochlear implant market include Cochlear Ltd, Sonova, Gaes Group, Nurotron Biotechnology Company Ltd and William Demant Holding A/S.
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The global market for cochlear implant (CI) will grow at a CAGR of 10.6% by 2022, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application (children, pediatric, etc.), and by geography (North America, Europe, Asia-Pacific, MEA and South America).
The report covers forecast and analysis for the cochlear implant market on a global and regional level. The study provides historic data of 2012-2016 along with a forecast from 2017 to 2022 based on both output/volume and revenue. The study then describes the drivers and restraints for the cochlear implant market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the cochlear implant market on a global level.
The report has been prepared based on the synthesis, analysis, and interpretation of information about the global cochlear implant market collected from specialized sources. The competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. Company overview, financial overview, product portfolio, new project launched, recent development analysis are the parameters included in the profile.
Demand for this market rises from the children, pediatric, and other applications. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2022. Relevantly, the report and company profiles specify the key drivers that are impacting the demand in global cochlear implant market.
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