Cochlear Implants Market Forecast Covering Growth Inclinations & Development Strategies until 2025 by Industry Key players- William Demant Holding A/S, Sonova, Gaes Group, and Nurotron Biotechnology Co. Ltd
Cochlear Implants Market: Industry Trend Analysis
The global cochlear implants market is expected to be around $3 billion in 2025.Innovations in customization of cochlear implant devices along with reimbursement policies in developing countries will drive the growth of this market. Technological advancements especially in sound chips are fuelling the demand for these products. Rise in geriatric population along with increased incidence of acquired hearing loss are also contributing to the market growth substantially. In 2014, the total American geriatric population was 46.2 million which represented 14.5% of the total population. By 2040, this will grow up to 21.7% of the total American population.
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Cochlear Implants Market: Competitive Analysis
The market is heavily dominated by few large companies such as Cochlear Ltd. and MED-EL, who have a global presence and a diverse product portfolio. These players are highly focused on developing innovative products to sustain the market competition.
For instance, in 2015, MED-EL received FDA approval for its SYNCHRONY cochlear implant, the first and only cochlear implant approved for 3.0T MRI without magnet removal. Some of the other key players in this market are William Demant Holding A/S, Sonova, Gaes Group, and Nurotron Biotechnology Co. Ltd.
Cochlear Implants Market Opportunities:
Increase in geriatric population worldwide will boost the demand for implants significantly. According to a World Health Organization (WHO), the geriatric population (senior citizens at least 65 years in age) will increase by 88% in coming years. Also, proven results of effectiveness of implantations in children at a young age propose significant prospects in the pediatric market worldwide. Developing countries exhibit a lucrative market due to growing awareness and easily available reimbursement policies.
Cochlear Implants Market Segmentation as Follows:
Cochlear Implants Market By Fitting Type:
Cochlear Implants Market By End User:
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Cochlear Implants Market: Research Methodology
We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.
Major Points of Table of Contents:
Chapter2. Executive Summary
Chapter3. Market Overview
Chapter4. Cochlear Implants Market, By Fitting Type
Chapter5. Cochlear Implants Market, By End User
Chapter6. Cochlear Implants Market, By Region
...CONTINUED FOR TOC
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