Cochlear Implants Market and Impact of COVID-19 : Research Report By Cochlear, MED-EL, Sonova, Nurotron Biotechnology Co. Medtronic, Demant A/S, Starkey, WIDEX A/S, Amplifon, and GN Hearing A/S. And Others

The Insight Partners analysts forecasts the latest report on “Global Cochlear Implants Market (Covid-19) Impact and Analysis by 2027”, according to report; The Cochlear Implants Market report covers the overall and all-inclusive analysis of Market with all its factors that have an impact on market growth. This report is anchored on the thorough qualitative and quantitative assessment of the Cochlear Implants Market.

The study provides details such as the market share, Market Insights, Strategic Insights, Segmentation and key players in the Cochlear Implants Market.

The global cochlear implants market accounted to US$ 1,510.9 Mn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019 – 2027, to account to US$ 4,124.1 Mn by 2027.

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Note – The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Cochlear Implants Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.

Our Sample Report Accommodate a Brief Introduction of the research report, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology

The reports cover key developments in the Cochlear Implants Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players.

Some of the Major Market Players Are:

Cochlear Ltd.
MED-EL
Sonova
Nurotron Biotechnology Co. Ltd.
Medtronic
Demant A/S
Starkey
WIDEX A/S
Amplifon
GN Hearing A/S

Strategic Insights

Product launches and up gradation was observed as the most adopted strategy in global cochlear implants industry. For instance, in January 2019, Starkey Hearing Technologies is thrilled to introduce a product that can help give millions of people, their families, and caregivers peace of mind. Fall Alert, a revolutionary feature of Livio AI, can detect falls and send alert messages to selected contacts. Starkey Hearing Technologies incorporated significant new inventions to avoid false-positives and flag only true falls. Thus, such product up gradations is likely to boost up the growth of its own and is likely to contribute to the market growth in the coming future.

MARKET SEGMENTATION

By Type of Fitting

• Unilateral Implantation
• Bilateral Implantation

By End User

• Adults
• Pediatrics

the report analyses factors affecting the Cochlear Implants Market from further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Cochlear Implants Market in these regions.
Moreover, the report entails the estimate and analysis for the Cochlear Implants Market on a global as well as regional level. The study provides historical data as well as the trending features and future predictions of the market growth. Further, the report encompasses drivers and restraints for the Cochlear Implants Market growth along with its impact on the overall market development. In addition, the report provides an analysis of the accessible avenues in the market on a global level.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Cochlear Implants Market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions. The Cochlear Implants Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Promising Regions & Countries Mentioned in The Cochlear Implants Market Report:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Market Insights

Increase In Number Of Patients Suffering From Hearing Loss

Hearing loss is on the rise. Unless this trend is reversed, it will mean higher direct costs for health systems. The need will grow for ear and hearing care services and related technologies, such as hearing devices, cochlear implants, and others. If these needs are not met, this would be detrimental not only for individuals in terms of social isolation and increased poverty but also for societies as a whole, due to lower productivity. A number of governments around the world have recognized the importance of mitigating current trends by preventing hearing loss in the first instance. Several factors like growing global population, rising genetic diseases, and infections leading to hearing loss, increasing geriatric population and others are all together driving the increase in hearing loss worldwide. According to the report published by World Health Organization (WHO) in 2018, 466 million people across the globe suffered from hearing loss and the number is expected to rise to 630 million by 2030 and 900 million by 2050. Therefore, owing to the above-mentioned factors, the market is likely to fuel its growth during the forecast period.

Increasing Medical Tourism in Emerging Nations

Many of the emerging countries are preferred location for medical tourism. Asia is one of the most preferred medical tourism destinations drawing increasing numbers of patients for treatment. Medical tourist visits Asia for plastic surgeries, weight loss surgeries, cochlear surgery, cardiovascular surgery, and orthopedic treatment. The cost of these surgical procedures is comparatively less than in emerging nations as compared to developed countries. According to the Malaysia Healthcare Travel Council, in 2017, Over 1,050,000+ healthcare travelers visited Malaysia for healthcare purposes. Also, India has witnessed a sudden increase in the number of patients coming to India for Cochlear implant surgery. Patients with hearing defects come to India mainly from the Middle East countries like Oman and Iran and from a few Western world countries. Cochlear Implants in Thailand are performed by some of the most experienced and skilled surgeons. These hospitals have ground-breaking technology like robotic surgery, top-class medical amenities, and high-end infrastructure. All these facilities are accessible at affordable prices, making Thailand a preferred destination for cochlear surgery. The cost of surgery, after-care, and sightseeing are available at almost half the price when compared with the cost offered in the US or UK. Thus the low cost of surgeries, advanced technologies with less waiting time for procedures in the region is likely to boost the cochlear surgery and ultimately spur the demand for cochlear implants. Thus, the factors are likely to create growth opportunities for the growth of the market in the coming years.

Major Features of Cochlear Implants Market Report:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Cochlear Implants market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Cochlear Implants market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

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