Rising Awareness About Hearing Aids & Increasing Adoption Of Implants Is Expected To Drive Cochlear Implant Market Growth Till 2025:Grand View Research,Inc.
The global cochlear implants market is expected to reach a
value of USD 3.1 billion by 2025, based on a new report by Grand View Research,
Inc. The cochlear implants market is anticipated to witness significant growth
during the forecast period, which can be attributed to a favorable
reimbursement scenario, rising awareness about hearing aids, and increasing
adoption of implants.
Furthermore, technological
advancements in cochlear implants to make the device more efficient and
user-friendly can boost the demand, which is expected to propel the industry
during the forecast period. For instance, in September 2016, Cochlear Ltd.
launched the world’s thinnest full-length perimodiolar electrode for their
cochlear implant. The thin structure of the implant electrode helps to protect
the delicate structures of the inner ear.
Browse full research report on Cochlear Implant Market: http://www.grandviewresearch.com/industry-analysis/cochlear-implants-industry
Further key findings from
the study suggest:
- Unilateral implantation dominated the industry in
2015.This can be attributed to its low cost as compared to bilateral
implantation and high demand from adults due to its cost-effectiveness.
- Bilateral implantation is the most lucrative segment
of the industry. Increasing demand, ability to recognize the speech in
noise, and good reimbursement are the key factors expected to drive the
market during the forecast period.
- By end-users, the adults segment dominated the market
in 2015 and is expected to maintain its dominance during the forecast
period, due to the presence of a large patient base and growing geriatric
population.
- Pediatrics segment is expected to grow at the fastest
rate during the forecast period. Increasing implantation at an early age,
implementation of several programs & government support to provide
cochlear implant to children as early as possible, and good reimbursement
are the key factors expected to propel the market.
- Geographically, Europe dominated the industry in 2015
and is expected to maintain its position during the forecast period. This
is primarily due to the conducive health infrastructure of the European
Union, which allows implantation at an early age.
- Asia Pacific is anticipated to observe the fastest
growth over the coming years. This can be attributed to growing awareness
in the region and local presence of market players.
- Several players operate in the industry. However,
majority of the share belonged to the top two to three players who
dominated in the industry in 2015.
- Some of the key players are Cochlear Ltd., MED-EL,
Sonova, Gaes Group, William Demant Holding A/S, and Nurotron Biotechnology
Co. Ltd.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/healthcare
Grand View Research has segmented the cochlear implants
market by type of fitting, end-users, and region:
Cochlear Implants Type of Fitting Outlook (Market Revenue
in USD Million, 2014 - 2025)
- Unilateral
Implantation
- Bilateral
Implantation
Cochlear Implants End-Users Outlook (Market Revenue in
USD Million, 2014 - 2025)
- Adults
- Pediatrics
Cochlear Implants Regional Outlook (Market Revenue in USD
Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa
- South
Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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