Cochlear Implants Market Size Prognosticated to Perceive a Thriving Growth by 2027
The market report includes a detailed analysis of the Covid-19 impact on the Cochlear Implants market. Over the course of 2020–2027, the market is expected to show significant growth. However, the recent Covid-19 outbreak is likely to affect some of the business operations. The report includes an analysis of how Covid-19 has and will affect the industry, studying reliable sources, interviews of experts, and annual reports of the major market players. The report includes major drivers, restraints, and opportunities within the Cochlear Implants market.
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Cochlear implants are electronic medical devices, which are used to replace the function of the inner ear, when damaged. Unlike other hearing aids, cochlear implants are used to bypass the damaged hair cells of the inner ear (cochlea) to facilitate transfer of sound signals to the brain. These implants are useful for patients suffering from average-to-extreme hearing loss in both ears.
The global cochlear implants market is driven by increase in geriatric population contributing to a large patient pool, rise in product customization, and introduction of rechargeable cochlear implants. However, high cost of the device, issues in cochlear batteries, and constrained healthcare expenditure restrain the market growth. Conversely, recent advancements for developing innovative next generation sound processors and emerging potential markets provide lucrative opportunities for the market growth.
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The global cochlear implants market is segmented on the basis of fitting type, end user, and geography. Based on fitting type, it is classified into unilateral and bilateral implantation. On basis of end user, it is bifurcated into pediatrics and adults. Geographically, it is analyzed in across four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.
The Major Key Players Are:
Cochlear Ltd., MED-EL GmbH, Sonova Holding AG, William Demant Holding A/S, Starkey, Nurotron Biotechnology Co. Ltd., Widex USA, Inc., Cochlear Ltd., Advanced Bionics AG, and Oticon Medical.
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