A key factor driving the growth of the market is the increasing prevalence of hearing loss. On the basis of prevalence and impact on the quality of life, hearing loss is currently among the top five reasons of years lived with disability (YLD). Because of this reason, several governments are offering reimbursement coverage for bone-anchored hearing aids, increasing the adoption of these devices. Also, vendors are focusing on expanding their product ranges, which can increase their adoption and boost market growth. Factors such as the increasing prevalence of hearing loss, rising number of older people, and the growing prevalence in pediatrics are expected to increase the demand for bone-anchored hearing aid systems, driving the expansion of the global market.
As per Technavio, the emergence of the robotic platform and surgical navigation system will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global bone-anchored hearing aids market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global bone-anchored hearing aids market: Emergence of the robotic platform and surgical navigation system
The growing adoption of MI surgeries for the implantation of bone-anchored hearing aids has increased the demand for robotic platforms and surgical navigation systems, which can improve the efficacy of surgical procedures. Robotic platforms have the potential to reduce human error and lower the chances of hearing loss in the implanted ear. Developments of robotic surgery in ENT applications started with the navigation-based implementation of industrial robots in surgery on the anterior and lateral base of the skull. Vendors in the market are focusing on developing robotic platforms which can ease the hearing aid implantation procedure. In the future, vendors plan to come up with robotic platforms and surgical navigation systems for conducting robot-assisted surgeries, which will impact the growth of the global bone-anchored hearing aids market positively, during the forecast period.
“Vendors in the global bone-anchored hearing aids market are focusing on expanding their product ranges by launching new products. For instance, Demant AS, which is a Europe-based company, is all set to launch new products in the US, owing to the increasing adoption of bone-anchored hearing aids. Moreover, vendors are also focusing on developing sound processors, which can be used with bone-anchored hearing implants developed by other vendors. Due to such advances, the market for bone-anchored hearing aids will have a positive income during the forecast period,” says a senior analyst at Technavio.
Global bone-anchored hearing aids market: Segmentation analysis
This market research report segments the global bone-anchored hearing aids market by end-user (adults and pediatrics) and geographical regions (Europe, North America, Asia, and ROW).
The European region led the market in 2018, followed by North America, Asia, and ROW respectively. However, during the forecast period, the Asian region is expected to register the highest incremental growth due to the increasing geriatric population, rising healthcare infrastructure, and the growing presence of global and local vendors in the region.
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Five Forces Analysis
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- Vendors covered
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