Where is the largest and fastest growing market for hearing implants? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The global hearing implants market was valued at about $0.8 billion in 2018 and is expected to grow to $1.06 billion at a CAGR of 7.4% through 2022.
The aging population is increasing worldwide and loss of hearing is one of the most common age-related disorder in those aged above 60 years. In 2017, the population aged above 60 years was more than 600 million, and with the increasing geriatric population, the demand for hearing implants is expected to rise. Therefore, increasing aging population is expected to drive the market for hearing implants in the future.
The surgical procedure for implanting hearing implants are associated with various risks and is expected to restraint the market growth in the future. During the surgery, there are possibilities of facial nerve damage which can lead to complete or partial paralysis on the same side of the face as the implant. Due to this and other complications such as development of meningitis, cerebrospinal fluid leakage, infection and others, people prefer conventional hearing aids over implants, hence restraining the growth of the hearing implants market.
Companies in hearing implants market are making implants using 3D printing in binaural cochlear surgeries. The technology focuses on developing customized 3D printed implants using biocompatible materials to treat anatomical defects with the help of stem cells. Sonova manufactures binaural cochlear implants which use two different modes of stimulation, electrical and acoustic to enhance hearing and better discrimination of speech.
Cochlear implant manufacturers have to submit information regarding the material used, efficacy based on clinical trials, and any adverse effects to the FDA. The manufacturer can begin the sale of the implants in the USA only after receiving approval from the FDA.
Major players in the market are Sonova (Switzerland), Advanced Bionics AG (Switzerland), Siemens AG, William Demant Holding Group (Denmark) and Microson S.A. (Spain).
Key Topics Covered
1. Executive Summary
2. Hearing Implants Market Characteristics
3. Hearing Implants Market Size And Growth
3.1. Global Hearing Implants Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers of the Market
3.1.2. Restraints on the Market
3.2. Global Hearing Implants Forecast Market, 2019 - 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers of the Market
3.2.2. Restraints on the Market
4. Hearing Implants Market Segmentation
4.1. Global Hearing Implants Market, Segmentation by Type, Historic & Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Cochlear Implants Middle Ear Implants
- Bone Conduction Implants Auditory Brainstem Implant
4.2. Global Hearing Implants Market, Segmentation by End-user, Historic & Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Hospitals ENT Clinics
- Ambulatory Surgical Centres
4.3. Global Hearing Implants Market, Segmentation by Age, Historic & Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Adult Pediatric
5. Hearing Implants Market Regional & Country Analysis
5.1. Global Hearing Implants Market, Split by Region, Historic & Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
5.2. Global Hearing Implants Market, Split by Country, Historic & Forecast, 2015-2019, 2022F, 2025F, 2030F, $ Billion
- Advanced Bionics AG (Switzerland)
- Microson S.A. (Spain)
- Pfizer Inc.
- Siemens AG
- William Demant Holding Group (Denmark)
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