The global cochlear implants market is expected to grow at a significant rate during the forecast period. The primary factor that contributes to the growth of the market include rising prevalence of hearing loss coupled with rise in geriatric population, enhanced healthcare infrastructure and technological advancement in the products. However, high costs of the devices and lack of awareness among the peoples are the factors that challenges the growth of the cochlear implants market over the forecast period.
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The key players operating in the region includes Cochlear Ltd., Amplifon S.p.A.,Sonova Holding AG, Demant A/S, MED-EL Corp., Oticon Medical A/S, and StarkeyHearing Technologies, among others. New product launches and approvals, merger and acquisition, and partnerships and collaborations are some of the growth strategies adopted by key market players in order to thrive in a competitive environment.
Some of the Recent Developments in the Market
- In August 2018, Advanced Bionics announced the FDA approval for its HiRes Ultra 3D Cochlear Implant. HiRes Ultra 3D Cochlear Implant is hassle-free and pain free choice for patients that undergo MRI examinations. Such technological development of implants is projected to fuel the market growth.
- In February 2018, Phonak and Advanced Bionics introduced a new technology in new microphone. The use of the MultiBeam technology will enable people with hearing aids and cochlear implants to hear clearly especially in case of noise.
- In June 2017, Cochlear Ltd. had launched an Apple-compatible cochlear implant which is a US FDA cleared implant. The US FDA cleared Nucleus 7 Sound Processor was the first cochlear implant sound solution to be made specifically for use with iPhones, iPods, and iPads; it was the smallest and the lightest behind-the-ear cochlear implant.
- In November 2017, Cochlear Corp.received the US FDA approval for the first remote programming option for the Nucleus Cochlear Implant System through a telemedicine platform. This approval was anticipated to offer cochlear implant to patients who have trouble accessing continued care who cannot travel to an implant center.
- In August 2014, two educational app was launched by Advanced Bionics to raise awareness among children concerning hearing loss and rehAB range of rehabilitative.
Global Cochlear Implants Market Segmentation
By Type
- Unilateral Cochlear Implants
- Bilateral Cochlear Implants
By End-Users
Global Cochlear Implants Market – Segment by Region
North America
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America