Cochlear Implant (CI) System Market Key Participants, Trends, and SWOT Analysis
The factors that driving the growth of the market are increasing penetration of implants due to wide geographic reach of market participants, growing geriatric population who need treatment for hearing loss, and patients suffering from ear infections.
(firmenpresse) - Global cochlear implant (CI) system market is estimated to grow at a CAGR of 10.6% in the years to come due to modernizations in cochlear implants. Cochlear implant (CI) system is used to restore the hearing sense in individuals. Cochlear implant is the only highly efficient device available in medical sector that can potentially replace a sense. It bypasses non-functional parts and provides electrical simulation to the nerve fibers directly in cochlea.
The factors that driving the growth of the market are increasing penetration of implants due to wide geographic reach of market participants, growing geriatric population who need treatment for hearing loss, and patients suffering from ear infections. Moreover, efforts by manufacturers for designing aesthetically appealing devices to avoid negligence from patients, decreased mortality rate, increased life expectancy rate and favorable government regulations are fueling the growth of market. However, high speculation cost of cochlear implant devices and long execution period are expected to hamper the growth of market. Also, lack of awareness among professionals and patients is negatively impacting the market growth.
Technological improvements in cochlear implant devices especially that perform exceptionally in noisy surroundings is a trend observed in cochlear implant (CI) system market. Manufacturers designing hybrid devices which are small in size and high in efficiency are expected to bring opportunities to the market.
The market is categorized on the basis of type, application, end user, and geography. On the basis of type, market is divided into binaural and unilateral. Bilateral segment registers high growth in cochlear implant (CI) system market owing to the speech recognition feature among external noise.
Based on application, market is bifurcated into pediatric and adult. Adult segment is expected to lead the market due to growing incidences of hearing loss among geriatric population. Based on end user, market is divided into ambulatory surgical centers, hospitals, clinics, research & academic institutes. Clinics and hospital segment is predicted to hold larger share of the market since they are common places for the treatment.
Geographically, market is segmented as North America, South America, Europe, Asia Pacific and Middle East & Africa. North and South America are anticipated to lead market owing to the technologically advanced devices for the procedures along with government backing for the adoption.
The prominent players in cochlear implant (CI) system market include Cochlear Ltd., Sonova Holding AG, Hangzhou Nurotron Biotechnology Co Ltd, MED-EL Corporation, Shanghai Listent Medical Tech Co., Ltd., and William Demant Holding.
Themen in dieser Pressemitteilung:
cochlear-implant-ci-system-market
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cochlear-implant-system
medical-devices
medical-devices-market
medical-devices-industry
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Datum: 17.07.2019 - 11:23 Uhr
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