Global Cochlear Implant Systems Market
Added: (Sat Jun 01 2019)
Pressbox (Press Release) -
Global Cochlear Implant Systems Market is expected to reach USD3.950 Billion by 2026 from USD2.166 Billion in 2018 at CAGR of 7.8% during forecast period.
Global Cochlear Implant Systems Market growth is primarily driven by the increasing incidence of hearing the loss in infants and adults. An increasing number of elderly individuals are suffering from severe and profound sensorineural hearing loss owing to age-related changes in the inner and middle ear. Hearing loss is a significant cause of disability and morbidity in the elderly population. Global Cochlear Implant Systems Market help adults to regain their hearing and fully participate in the day to day activities.
The growth of the global Cochlear Implant Systems Market can be attributed to the advancements in cochlear implants, growing penetration of implants due to expanded geographical reach of market players, and government support. Technological advancements, strategic initiatives by the industry players, and favorable reimbursements for cochlear implantation surgery are the other key drivers of the global cochlear implant systems market.Global Cochlear Implant Systems Market Global Cochlear Implant Systems Market is segmented by Product, End User, and Geography. Unilateral implant industry segment had the highest Global Cochlear Implant Systems Market share in 2016, as individuals prefer unilateral implants owing to excessive costs of bilateral implantation and added surgery risks. Bilateral implant industry segment is expected to grow during the forecast years owing to increase in the number of individuals opting for implants in both ears. Bilateral implants provide additional speech perception and localization benefits to patients.
The adult business segment is expected to grow at a high rate during the forecast period. Increasing elderly population pool prone to age-related hearing loss will drive segment growth. Adults often benefit immediately from the implantation procedure and continue to show improvements for about three months after the initial tuning sessions. Pediatric business segment held a high market share in 2016. The segment is also expected to grow through the forecast period due to the implementation of newborn hearing screening programs in several countries enabling the identification of profound hearing loss among infants.
Asia-Pacific expected to have larger cochlear implant systems market due to the high penetration of implants, conducive health infrastructure of the Asia-Pacific, and presence of a large patient base in the region North America was the second largest market in 2017 and is expected to observe a significant growth in forecasting period.
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Scope of the global Cochlear Implant Systems Market report:
• Global Cochlear Implant Systems Market, by Product:
o Unilateral Implants
o Bilateral Implants
• Global Cochlear Implant Systems Market, by End-User
o Adult
o Pediatric
• Global Cochlear Implant Systems Market, by Geography
o North America
o Asia-Pacific
o Europe
o Middle East and Africa
o Latin America
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