LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global cochlear implants (CIs) 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 market research analysts, the global cochlear implants market will grow at a CAGR of over 9% during the forecast period. Increasing prevalence of hearing loss is a major factor driving the market’s growth. The prevalence of hearing loss is increasing significantly in both developed and developing countries. As of 2016, more than 350 million people, which was more than 5% of the global population, had hearing loss. The number is expected to increase by three-folds by 2050.
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In this report, Technavio highlights the emerging technological innovations as one of the key emerging trends driving the global cochlear implants market:
Emerging technological innovations
Several manufacturers are focusing on developing innovative CIs to improve patient comfort. Sound processors that feed signals to CIs have undergone many developments in the past few years. Manufacturers such as Cochlear and MED-EL have seven generations of implantable components and nine generations of sound processors. The changes include an increase in the number of electrodes, from eight to 24, and a drastic reduction in the size of sound processors. The increase in the number of electrodes has led to amplified precision in simulating cochlea to deliver clear sound. With advances in technology, sound processors have become compact and lightweight, which has improved their mobility.
Digital processors can remove noise, pick up sounds from various sources, and precisely input signals to the implant. They are also water resistant. They can be connected to smartphones, televisions, and other Bluetooth-enabled devices. For instance, Cochlear introduced the Kanso Sound Processor, which combines dual-microphone technologies with the Auditory Scene Classifier to automatically adjust the sound processor to different listening environments.
According to a senior analyst at Technavio for life science research tools research, “New image processing techniques have been developed to visualize the position of the CI electrodes and the superior gluteal nerves they stimulate for individual CI users. The use of these image-guided technologies enables customization of CI stimulation strategies, improving hearing-related quality of life and communication abilities without the need for additional surgical procedures. Such technological advances are likely to drive the growth of the global CIs market.”
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Global cochlear implants market segmentation
This market research report segments the global cochlear implants market by fitting type (unilateral implantation and bilateral implantation) and key regions (the Americas, APAC, and EMEA).
Based on geography, the global CIs market is segmented into the Americas, EMEA, and APAC. In 2017, the global CIs market was dominated by the Americas, with a market share of 46% which is expected to increase by more than 5% by 2022. The market share of the other two regions will experience a decline over the forecast period.
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