Cochlear Implant Systems Market– Current Trends, Opportunities & Challenges by 2025

MarketResearchReports.Biz announces addition of new report "Cochlear Implant Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025" to its database.

The main objective of this report is to define, describe, and forecast the global “Cochlear Implant Systems” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market.

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A cochlear implant is an electronic medical device that transmits sound signals to the brain. With the cochlear implant, a person can achieve better sentence understanding as compared to hearing aids. At present, cochlear implants are the only effective means allowing the social interaction of individuals suffering from hearing loss. The first cochlear implant was approved by the FDA in 1984, which made 3M an industrial leader.

Increasing incidence of neonates born with hearing defects is driving the market cochlear implant systems. According to WHO hearing loss statistics, each year, approximately, 134 million children are born, out of which approximately 1 to 3 newborns per 1,000 are with hearing loss, which is treatable only with a cochlear implant. Thus, there is a need for a minimum of 134,000 cochlear implants annually. The number of cochlear implants is likely to increase to approximately 160,000 per year if the hearing loss is considered for both ears. Apart from the rising number of patients suffering from hearing loss, technological advancements, strategic initiatives by industry players, and favorable government regulations are driving the growth of the global cochlear implant systems market in 2016. For instance, in1979, the University of Melbourne and Nucleus Limited got approval from the Australian Department of Productivity to manufacture and market 22 cochlear implants. In another event, the National Institutes of Health (NIH) funded the first consensus conference to speed up the acceptance of multi-electrode cochlear implants. Market players are focused on the development of devices with reduced noise, quickly chargeable, long battery life, and waterproof. According to the World Health Organization (WHO), the current production of hearing loss aids is only 10% of the actual need; thus, there is a lucrative opportunity for new players to enter the global cochlear implant systems market.

The global cochlear implant systems market has been segmented based on type of fitting, end-user, and region. Based on type of fitting, the market is segmented into unilateral implantation and bilateral implantation. The unilateral implantation segment dominates the global cochlear implant systems market owing to low cost. Unilateral implantation is common in adults. The bilateral implantation segment is expected to expand at a fast growth rate during the forecast period owing to rising demand for cochlear implants by pediatric patients suffering from hearing loss. Moreover, several countries are offering reimbursement only for bilateral implantation contributing to the growth of the segment. In terms of end-user, the market is segmented into hospitals, ENT clinics, and other end-users. The ENT clinics segment dominate the global cochlear implant systems market in 2016, owing to increasing patient population suffering from hearing loss, and growing patient preference towards treatment in ENT clinics in emerging countries. According to WHO estimates in 2012, out of the total worldwide population with hearing impairment, 91% were adults and 9% were children.

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Geographically, the global cochlear implant systems market is distributed over North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific region is expected to dominate the global cochlear implant systems market owing to the high prevalence of hearing defects in the region. Middle East & Africa region is expected to account for the second largest share in 2016. This is attributable to the highest incidence of otitis media, ear infections owing to lack of proper hygiene practices, and increasing pregnancy and genetic complications leading to hearing loss in neonates. Europe is the next largest market for cochlear implants owing to increasing geriatric population.

Key players operating in the global cochlear implant systems market include MED-EL, Cochlear Limited, Oticon Medical, William Demant Holding A/S, LSVT Global, Inc., PENTAX Medical, EBS Healthcare, Sonova, Gaes Medica, and Nurotron Biotechnology Co., Ltd.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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