Global cochlear implant market to grow positively at a
New York, U.S., Aug. 31, 2022 (GLOBE NEWSWIRE) — Global Cochlear Implants Market Expected to Grow Positively at a CAGR of 9.92% by 2027 | DelveInsight
The market for cochlear implants is expected to increase owing to the increasing prevalence of hearing loss and the rising burden of the elderly population who are more likely to develop hearing impairment.
by DelveInsight Overview of the cochlear implant market The report provides current and forecasted market, future device innovation, market shares of key individual companies, challenges, cochlear implant market drivers, barriers and trends, and major cochlear implant companies on the market.
Key Points from the Cochlear Implants Market Report
- According to DelveInsight estimates, Europe is expected to dominate the global cochlear implant market during the forecast period.
- Notable cochlear implant companies such as MED-EL Medical Electronics., Sonova, Demant A/S, Cochlear Limited, Envoy Medical., Ototronix, TODOC Co., Ltd.and several others are currently operating in the cochlear implant market.
- In June 2021, Oticon has received premarket approval (PMA) from the FDA for its Neuro Cochlear implant system indicated to treat severe to profound sensorineural hearing loss.
- In July 2020, Cochlear received FDA approval for three new products in its area of hearing technology solutions. Approved products are Kanso® 2 sound processor, Nucleus® 7 sound processor for Nucleus 22 implant recipients and Custom Sound® Pro fitting software.
- Thus, owing to such developments in the market, rapid growth will be witnessed in the cochlear implants market over the forecast period.
To know more about the latest highlights related to the Cochlear Hearing Implants market, get an overview of the major highlights involved in the Global Cochlear Implants Market Report
According to the United States Food and Drug Administration (FDA), a cochlear implant is a small, implantable electronic hearing aid designed to produce helpful auditory sensations for people with severe to profound nerve deafness by electrically stimulating the nerves inside of the inner ear. An externally worn microphone, sound processor and transmitter, and an implantable electrode or receiver system are the main components of the device. The receiving system receives external signals from the system and transmits electrical currents to the inner ear.
Overview of the cochlear implant market
The global cochlear implants market is studied geographically across North America, Europe, Asia Pacific, and Rest of the World. Europe currently leads the global cochlear implant market in terms of revenue share and is expected to maintain this position throughout the study period. This dominance is due to the growing number of cases of hearing loss in the region. In addition, strategic business activities of leading cochlear implant manufacturing companies aimed at maintaining their position in the cochlear implant market are expected to boost the hearing implant market.
To learn more about why Europe is leading the growth of the cochlear implant market, get an overview of the Cochlear implant market share
Dynamics of the cochlear implant market
The global cochlear implant market is expected to grow significantly due to increased approval of various cochlear implants, integration of cutting-edge technologies into existing products, and increase in several initiatives undertaken by the government and various organizations to support research in the field of cochlear implantation, among other factors.
However, some factors, such as Rigorous device regulatory approval process and the high cost of implants and surgerieswill likely restrain the growth of the cochlear implant market.
Additionally, the unprecedented COVID-19 pandemic has slowed down the growth of the cochlear implants market. Due to the increase in COVID-19 cases, governments around the world have implemented various safety measures such as lockdowns and strict guidelines, disrupting the international cochlear implant supply chain. Inside the ear, cochlear implants are surgically implanted. As a result, the cancellation of elective surgeries in hospitals during a pandemic situation to prevent disease transmission between patients, as the majority of people receiving cochlear implants are elderly, has impacted the implant market. cochlears.
Scope of the Cochlear Implants Market Report
- Cover: Global
- Study period: 2019–2027
- Market segmentation by cochlear implantation: Unilateral cochlear implantation and bilateral cochlear implantation
- Market segmentation by end user: Adults and Pediatrics
- Market segmentation by geography: North America, Europe, Asia-Pacific and Rest of the world
- Top cochlear implant companies: MED-EL Medical Electronics., Sonova, Demant A/S, Cochlear Limited, Envoy Medical., Ototronix, TODOC Co., Ltd., among others
- Porter’s Five Forces Analysis, Product Profiles, Case studies, KOL points of view, analyst’s point of view
DelveInsight Analysis: The cochlear implant market size is expected to grow at a pace 9.92% CAGR reach $2.68 billion by 2027.
Which Key MedTech Players in Cochlear Implants Market Expected to Emerge as Pioneer Explores @Cochlear implant companies
|1||Presentation of the report|
|3||Regulatory analysis and patents|
|4||Analysis of key factors|
|5||Porter’s Five Forces Analysis|
|6||Impact Analysis of COVID-19 on the Cochlear Implants Market|
|seven||Cochlear Implant Market Layout|
|8||Global Business Share Analysis – 3 to 5 Key Companies|
|9||Cochlear Implants Market Company and Product Profiles|
Do you want to know the cochlear implants market by 2027? Click to preview Market share of cochlear implant manufacturers
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