Cochlear Implant System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025- Increase in the prevalence of hearing defects and increase in geriatric population is likely to grow the cochlear implant system market.
Cochlear Implant System Market is valued at USD 95.56 Million in 2018 and expected to reach USD 1724.83 Million by 2025 with the CAGR of 9.3% over the forecast period.
Cochlear implant system is a small electronic device which provides the sense of sound to the hearing impaired person. It has two components one is placed behind the ear and other one is placed under skin. These are neuroprosthetic device which bypass the normal hearing process and convert it into electrical signals. Its overall function is to replace the function of inner ear and allows the patient to hear the external sounds. These devices are small and complex in nature and it is usually the last preferred options after hearing aids.
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Cochlear Implant System Market report is segmented on product type, application and by regional & country level. Based upon Product type, cochlear implant system market is segmented into Unilateral and Binaural. Based upon application, cochlear implant system market is classified into Adult and Pediatric.
The regions covered in this Cochlear Implant System market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Cochlear Implant System market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Cochlear Implant System Market Reports–
Some major key players for Cochlear Implant System market are Cochlear Ltd., MED-EL Co., Gaes Group AG, Sonova, GN ReSound Co., William Demant Holding A/S, and Nurotron Biotechnology Company Ltd. among others.
On 4 July 2019, MED-EL has unveiled the new SONNET 2 audio processor and MAESTRO 8 fitting software. The SONNET 2 has been developed using the benefit of professional and user feedback to create MED-EL’s best cochlear implant audio processor yet. Its cutting-edge technology, advanced hearing performance and stylish look is destined to be a success with both professionals and users alike.
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Increase in the prevalence of hearing defects and increase in geriatric population is the key factor which helps Cochlear Implant System Market to grow.
There has been constant increase in the prevalence of hearing defects among people and there has also been in the neonates born with hearing defects are expected to drive the growth of cochlear implant system market over the forecast period. As per World Health Organization 2019 report, there were around 466 million people living with hearing loss and out of these 34 million are children. IT is also estimated that by the end of 2050, around 900 million will have hearing loss or defect. Furthermore, there has been constant development in the technology which helps in the development of advanced cochlear implant is expected to anticipate the growth of cochlear implant system market. Moreover, constant increase in the geriatric population has also increased the prevalence of hearing loss and hearing defect which requires the cochlear implantation for better hearing which in turn anticipate the growth of cochlear implant system market. The ongoing research and strategic developments by the manufacturer in the market is expected to create opportunities in the near future. However, high cost of these cochlear implant system markets is expected to hamper the growth of cochlear implant system market over the forecast period.
North America is expected to dominate the Cochlear Implant System Market.
North America is expected to account for the major market share over the forecast period which was closely followed by the Europe in terms of market share. This is due to the presence of developed economies such as U.S., Canada, Germany, UK and others coupled with the presence of developed healthcare infrastructure. Furthermore, presence of major manufacturers in these regions and technological advancement are expected to fuel the growth of cochlear implant system market. Asia Pacific is anticipated to develop rapidly over the forecast period owing to the presence of developing economies such as India, China and others coupled with lack of hygiene practices which are responsible for various ear infections. Furthermore, increasing complication during pregnancy and genetic defects with the increase prevalence of hearing defects are expected to promote the growth of cochlear implant system market over the forecast period. Latin America, Middle East and Africa is expected to develop moderately over the forecast period.
Key Benefits for Cochlear Implant System Market Reports –
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
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Cochlear Implant System Market Segmentation –
By Product Type
By Regional & Country Analysis:
Middle East and Africa
Rest of Middle East and Africa
Table of Content
1. Chapter – Report Methodology
1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description
2. Chapter – Global Cochlear Implant (CI) System Market Overview: Qualitative Analysis
2.1. Market Introduction
2.2. Executive Summary
2.3. Global Cochlear Implant (CI) System Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Cochlear Implant (CI) System Market: Trends
2.8. Porter’s Five Forces Analysis
2.8.1. Bargaining Power of Suppliers
2.8.2. Bargaining Power of Consumers
2.8.3. Threat of New Entrants
2.8.4. Threat of Substitute Product and Services
2.8.5. Competitive Rivalry within the Industry
2.9. Market Attractiveness Analysis
2.9.1. Market Attractiveness Analysis by Segmentation
2.9.2. Market Attractiveness Analysis by Region
3. Chapter – Global Cochlear Implant (CI) System Market Overview: Quantitative Analysis
4. Chapter – Global Cochlear Implant (CI) System Market Analysis: By Type
5. Chapter – Global Cochlear Implant (CI) System Market Analysis: By Applications
8. Chapter – Company Profiles
8.1.3. Product portfolio
8.1.4. Cochlear Implant (CI) System Market Revenue (USD Million) and Market Share (%), 2014 – 2018
8.1.5. Cochlear Implant (CI) System Sales Market Share (%), 2014 – 2018
8.1.6. Business strategy
8.1.7. Recent developments
8.3. Advanced Bionics (Sonova)
8.4. Oticon (William Demant)
8.5. Hangzhou Nurotron
8.6. Listent Medical
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