November 20, 2019
According to the latest study titled ‘Global Hearing Implant Market: Analysis By Type (Cochlear Implant, Bone Anchored Hearing Aid, Acoustic Brainstem Implant, Middle Ear Implant), By End Users (Adults, Pediatrics), By Region, By Country (2018 Edition): Forecast to 2023 - By Region (N. America, Europe, APAC, ROW), By Country (U.S, Canada, Germany, U.K, China, India, Japan, Brazil)’ available at MarketStudyReport.com, the global hearing implant market is estimated to grow with a CAGR of 10.8% through the year 2023.
Hearing implant is a neuroprosthetic device implanted surgically to provide modified sense of sound in case of hearing loss. Factors such as increasing incidences of hearing loss among the surging geriatric population, rising cases of hearing-impairment among children and higher noise pollution around the globe are aiding the growth of the hearing implant market.
Moreover, supportive initiatives taken by government and introduction of medical reimbursement policies, demand for minimally invasive treatment methods as well as new device approvals, along with rising healthcare expenditure in developing countries will continue to augment the industry trends for hearing implant market.
The study encompasses details about market size based on revenue shares and growth opportunities for individual segments. It analyses the competitive landscape of hearing implant market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics covering drivers and restraints is also outlined in the report.
Based on type, hearing implant market is segmented into bone anchored hearing aid, cochlear implant, middle ear implant, and acoustic brainstem implant. While speaking of end user spectrum, the industry is bifurcated into pediatrics and adults.
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Considering the geographical landscape, the global hearing implant market is fragmented into four major regions, namely, Europe, Americas, APAC, and rest of the world, with a key focus on countries like Canada, U.S, U.K, Germany, India, China, Brazil, and Japan. The report cites that APAC region will dominate hearing implant market in the upcoming years, owing to extensive consumer base and improved per capita expenditure on healthcare across the region.
Some of the vendors that operate in hearing implant market are Sonova Holdings AG, Ototronix, Cochlear Limited, Nurotron’s Biotechnology Co. Ltd., William Demant Holdings, Sophono Inc., and Med-EL.
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