What future holds for Hearing Implant Market | top players to be benefited: Cochlear Ltd., MED-EL, William Demant Holding A/S, Advanced Bionics AG, Nurotron Biotechnology Co. Ltd

Loss of hearing is becoming a global cause of concern, with not only the geriatric population but also children suffering from hearing disabilities. Early intervention of hearing implants in children is becoming a trend, according to a new research on the hearing implant market published by leading research firm Future Market Insights. Expenditure on hearing impairment is a major liability on the global healthcare sector, and manufacturers of hearing implants are pushed to innovate hearing solutions that can provide accessible hearing care to the global population. Of the various products available in the global hearing implant market, cochlear implants are the most preferred, especially in the case of people with severe loss of hearing where hearing aids do not offer much benefit.

Cochlear implants are recommended for patients whose inner ear sensory cells are severely damaged. These implants directly stimulate the auditory nerve and provide a sensation of sound, enabling patients with severe hearing loss to perceive sounds. Cochlear implants are the best option for enhanced hearing and are finding wide acceptance among the global medical fraternity. A promise of better hearing is boosting the adoption of hearing implants, thereby enhancing revenues in the global market. According to Future Market Insights’ analysis, the global hearing implant market is projected to be valued at about US$ 2 Bn by the end of 2028, up from an estimated US$ 996.2 Mn in 2018. This is indicative of a decadal growth rate of 7.5%.

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Global Unmet Need of Hearing Implants and Technological Advancements in Hearing Solutions Key Opportunity Area for Manufacturers

The global market for hearing implants provides immense opportunities for companies, with the market faced with the need to manufacture affordable and functional hearing implants along with the provision of adequate follow-up services with audiologists. With the current production rate of hearing implants falling short of the global demand – especially when factoring in patients requiring bilateral implants – there is huge growth potential for both existing hearing implant manufacturers as well as new players. Further, considering that there are very few companies manufacturing hearing implants globally, there exists a lucrative revenue opportunity in the global hearing implant market.

Technological advancements in hearing care solutions are boosting global market demand for hearing implants. For instance, laser light technology is being incorporated in a new type of cochlear implants. Regular doctor follow-ups are mandatory post the initial programming of the hearing implant, and to simplify this process, a new remote feature is being developed, which enables patients to have regular follow-up programming sessions with their audiologists as and when required. One of the key players in the global hearing implant market has launched a Bluetooth wireless connectivity enabled device for patients opting for cochlear implants. By connecting to audio processors, this device helps patients acquire better hearing experiences.

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High Cost Factor and Health Risks Arising from Surgical Procedures Restraining Revenues in the Global Hearing Implant Market

Hearing implants may come at increased prices, based on the functional complexity and extent of technology used. Further, being a surgical intervention, hearing implants result in additional costs such as surgery fees, medication, and hospitalisation costs. Hearing aids on the other hand are relatively cheaper and hence more affordable to all classes of people. High powered hearing aids are fast becoming popular owing to their ease of use and direct manageability by patients. Further, risks and complications arising from hearing implant surgeries is making patients opt for hearing aids. This is expected to restrict revenue growth of the hearing implant market.

The global market for hearing implants is dominated by one company that holds about 55% of the total market revenue. This company manufactures a variety of products including bone conduction implants, middle ear implants, and auditory brainstem implants. This player has recently received FDA approval for remote programming in cochlear implants and is working on approvals and new technologies in hearing implants.

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Hearing Implants Market Reports - Table of Contents

1. Executive Summary
2. Market Introduction
3. Hearing Implants Market Opportunity Analysis
4. Global Economic Outlook
5. Market Background
6. Key Inclusions
7. North America Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
8. Western Europe Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
9. Eastern Europe Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
10. Latin America Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
11. Asia Pacific Excluding China & Japan Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
12. China Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
13. Japan Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
14. Middle East and Africa Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
15. Forecast Factors: Relevance and Impact
16. Forecast Assumptions
17. Market Structure Analysis
18. Competition Analysis
19. Global Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028 By Region
20. Global Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028, By Product Type
21. Global Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028, By End User
22. Global Hearing Implant Market Analysis 2013-2017 and Forecast 2018–2028
23. Assumptions and Acronyms Used
24. Research Methodology

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