LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global hearing implants market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global hearing implants market will grow at a CAGR of almost 10% during the forecast period. Increasing prevalence of hearing loss is a major factor driving the market’s growth.
There has been a substantial increase in the prevalence of hearing loss in both developed and developing countries. Millions of people across the globe suffer from hearing loss. As of 2016, more than 350 million people (more than 5% of global population) were predicted to be suffering from hearing loss worldwide. This is expected to increase three-fold by 2050. Approximately 35% of people aged 65 years and above are affected by disabling hearing loss among the global population. However, the production of hearing implants is significantly less to meet the increasing demand.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio highlights the growth of smart cities as one of the key emerging trends driving the global hearing implants market:
Emerging technological innovations
The hearing implant manufacturers are concentrating on the development of innovative hearing implants with improved patient comfort. Sound processors that feed signals to the hearing implants have undergone many developments in the past few years. Some of the changes include an increase in the number of electrodes (from 8 to 24) and a drastic reduction in the size of the sound processors. The increase in the number of electrodes in these devices has led to the amplified precision in simulating cochlea for delivering clear sound.
Owing to these advances in technology, the sound processors have been made compact and light-weight. This has given the users the freedom to carry the processors freely, either on the ear, arms, or on the shoulders.
“The digital processors can remove noise, pick-up sounds from various sources, and precisely input the signals to the implant and are water-resistant. They can be connected to the cellphones, TVs, and other Bluetooth-enabled devices, which will assist deaf people in leading a normal life,” says a senior analyst at Technavio for research on orthopedics and medical devices.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global hearing implants market segmentation
This market research report segments the global hearing implants market based on product type (cochlear implants, BAHA, and others) and key regions (the Americas, APAC, and EMEA).
The cochlear implants segment held the largest market share in 2017, accounting for more than 88% of the market. The BAHA segment held the second largest share, and it was followed by the others segment (MEI and ABI).
The Americas was the leading region for the global hearing implants market in 2017, accounting for a market share of around 46%. EMEA accounted for the second largest share in the market, and it was followed by the APAC region that accounted for the least share in the market.
Big savings with Technavio this February!
Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.
Celebrate winter sports with 23% OFF all reports in our Outdoor Gear library (Offer valid from Feb 9-25).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.