What is Cochlear Implants Market?
A cochlear implant is basically an electronic device which is mainly used to replaces the function of the damaged inner ear. The main function of the cochlear implant is the work of damaged parts of the inner ear and it provides clear sound signals to the brain. It is mostly useful for those patients who suffer from extreme hearing loss in both ears of the human body. Rising Number of Patients Suffering from Hearing Loss, growing old age population globally, among others are some of the major factors which affect the growth of the market in the future.
The market study is being classified by Type (Unilateral Implantation and Bilateral Implantation), by Application (Adults and Pediatrics) and major geographies with country level break-up.
Cochlear Ltd. (Australia), MED-EL GmbH (Austria), Sonova Holding AG (Switzerland), William Demant Holding A/S (Denmark), Starkey Hearing Technologies (United States), Nurotron Biotechnology Co. Ltd. (China), Widex USA, Inc. (United States), Advanced Bionics AG (United States), Oticon Medical. (Sweden) and GN Hearing A/S (Denmark) are some of the key players profiled in the study.
. The market is fragmented with numerous players focusing on technique and quality of the product due to which the global cochlear implant market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Cochlear Implants market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Cochlear Implants market by Type, Application and Region.
On the basis of geography, the market of Cochlear Implants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising geriatric population globally, which Contributes to a large patient pool
- Increasing product customization, and introduction of rechargeable cochlear implants by Numerous Company
Market Trend
- One of the Latest Trend of This Market is rising focus on Aesthetic Appearance as well as Customization of CIs
Restraints
- Problem related to High cost of Cis and issues in cochlear batteries
Opportunities
- Rising Number of Medical Tourism in Emerging Nations such as Brazil, Chile, China, Colombia, Czech Republic, India, and others
- Government Initiative to Support for the Hearing Care Problem of Patients
Challenges
- The issue regarding Lack of Awareness of Cochlear implant
In September 2016, the Cochlear Ltd. (Australia) company has launched the thinnest full-length perimodiolar electrode for their cochlear implant. In addition, it also helps to protect the delicate structures of the inner ear. Hence, this launch will affect in increasing product portfolio of the company.
Key Target Audience
Cochlear Implant Manufactures Companies, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others