New York, USA, Aug. 31, 2022 (GLOBE NEWSWIRE) -- The Global Cochlear Implants Market to Grow Positively at a CAGR of 9.92% by 2027 | DelveInsight
The cochlear implants market is expected to boost due to the rise in the prevalence of hearing loss, and the rising burden of the senior population who are more susceptible to developing hearing impairments.
DelveInsight's Cochlear Implants Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, cochlear implants market drivers, barriers, and trends, and key Cochlear Implants companies in the market.
Key Takeaways from the Cochlear Implants Market Report
- As per DelveInsight estimates, Europe is anticipated to dominate the global cochlear implants market during the forecast period.
- Notable cochlear implants 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 implants market.
- In June 2021, Oticon received FDA pre-market approval (PMA) 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 arena of hearing technology solutions. The 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, there will be rapid growth observed in the cochlear implants market during the forecast period.
To read more about the latest highlights related to the cochlear hearing implant market, get a snapshot of the key highlights entailed in the Global Cochlear Implants Market Report
Cochlear Implants
According to the US Food and Drug Administration (FDA), a cochlear implant is a small implantable electronic hearing device designed to produce useful hearing sensations for people with severe to profound nerve deafness by electrically stimulating nerves inside 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 receiver system receives external system signals and transmits electrical currents to the inner ear.
Cochlear Implants Market Insights
The global cochlear implants market is studied geographically in North America, Europe, Asia-Pacific, and the Rest of the World. Europe currently leads the global cochlear implants market in terms of revenue share and is expected to maintain that position throughout the study period. This dominance is due to the region's growing cases of hearing loss. Furthermore, strategic business activities by leading cochlear implant manufacturing companies to maintain their market position in the cochlear implant market are expected to drive the hearing implant market.
To know more about why Europe is leading the market growth in the cochlear implants market, get a snapshot of the Cochlear Implants Market Share
Cochlear Implants Market Dynamics
The global cochlear implants market is expected to grow significantly as a result of increased approval of various cochlear implants, integration of advanced technology into existing products, and an increase in several initiatives undertaken by the government and various organizations to support research in the field of cochlear implantation, among other factors.
However, certain factors, such as the devices' stringent regulatory approval process and the high cost of implants and surgical procedures, will likely to stymie the cochlear implants market growth.
Additionally, the unprecedented COVID-19 pandemic has slowed the cochlear implants market growth. Because of the increase in COVID-19 cases, governments around the world implemented various safety measures such as lockdown and stringent guidelines, disrupting the international supply chain of cochlear implants. 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 among patients, as the majority of people receiving cochlear implants are elderly, had an impact on the cochlear implants market.
Scope of the Cochlear Implants Market Report
- Coverage: 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 World
- Key Cochlear Implants 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’s Views, Analyst’s View
DelveInsight Analysis: The cochlear implants market size is expected to grow at a CAGR of 9.92% to reach USD 2.68 billion by 2027.
Which MedTech key players in the cochlear implants market are set to emerge as the trendsetter explore @Cochlear Implants Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on Cochlear Implants Market |
| 7 | Cochlear Implants Market Layout |
| 8 | Global Company Share Analysis – Key 3-5 Companies |
| 9 | Cochlear Implants Market Company and Product Profiles |
| 10 | Project Approach |
| 11 | About DelveInsight |
Interested in knowing the cochlear implants market by 2027? Click to get a snapshot of the Cochlear Implants Manufactures Market Share
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