Cochlear Implant Market Emerging Trends and Strong Application Scope by 2022 | Report by Radiant Insights, Inc.

SAN FRANCISCO, July 16, 2019 /PRNewswire/ -- The global Cochlear Implant Market is projected to witness a higher CAGR of 10.6% by 2022. A cochlear implant is a tiny and complex electronic device that helps in providing a sense of sound in people with hearing disabilities. The implant comprises an external portion at the back of the ear and another portion operated under the skin. Technically, it has components like microphone, speech processor, transmitter, receiver/stimulator, and an electrode array.

An implant does not help in regaining normal hearing. It could help the patient with a useful representation of sounds in the surrounding and recognize the nature of speech. It is thus completely different form a hearing aid. Cochlear implants can bypass the damaged portion of ear and enable the auditory nerve. The signals sent by the implant are sent via auditory nerve to the brain. Hence, hearing through cochlear implants is different from normal hearing.

The drivers for cochlear implant market include proliferation of surgical implants owing to market expansion between players and rise in government support. In addition, technological advances and strategic initiatives. The cochlear implant is segmented by type that includes unilateral implantation and bilateral implantation. End-user segment for cochlear implant market includes pediatrics and adults.

Geographical segmentation for cochlear implant market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. European regions held a maximum share in the global scenario in 2017 due to high number of implants and availability of large patient pool.

North America accounted for a significant market share due to rise in geriatric population and demand for hearing devices. The U.S. regions have registered a rise in number of minimally invasive surgeries and medical advances owing to availability of product portfolio and product upgrades. Strategic alliances and launch of digital apps for medical service are contributing to the market development in the near future. The key players in the cochlear implant market include Cochlear Ltd, Sonova, Gaes Group, Nurotron Biotechnology Company Ltd and William Demant Holding A/S.