Cochlear Implants Market Size to Expand Significantly by the End of 2025 | William Demant Holding A/S, Cochlear Ltd., MED-EL, Gaes Group, Sonova Holding AG

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.

Top Major Market Players:
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.

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Cochlear Implants Market Segmentation:

By Fitting Type:
Bilateral Implantation
Unilateral Implantation

By End User:
Pediatrics
Adults

Industry Outlook and Trend Analysis:
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. 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.

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. 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.

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Table of Contents:
1. Introduction
2. Executive Summary
3. Market Overview
4. Cochlear Implants Market, By Fitting Type
4.1. Introduction
4.2. Cochlear Implants Market Assessment and Forecast, By Fitting Type, 2016-2025
4.3. Unilateral Implantation
4.4. Bilateral Implantation
5. Cochlear Implants Market, By End User
5.1. Introduction
5.2. Cochlear Implants Market Assessment and Forecast, By End User, 2016-2025
5.3. Adults
5.4. Pediatrics
To be continued...

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Regional Outlook and Trend Analysis:
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. 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.

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.

Key Findings of the Research Study:
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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