Hearing Implants Market

Hearing Implant Market: Cochlear Implant Expected to Remain Dominant Product Type During the Forecast Period: Global Industry Analysis (2013 - 2017) & Opportunity Assessment (2018 - 2028)

  • 2018-09-04
  • REP-GB-492
  • 238 pages
  • Format: PDF/PPT/Excel

An Incisive, In-depth Analysis on the Hearing Implants Market

This study offers a comprehensive, 360 degree analysis on the Hearing Implants market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hearing Implants market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Hearing Implants Market: Introduction

Hearing implants are prosthetic devices used to treat hearing loss and deafness. Hearing loss has become one of the major disabilities. Hearing loss is of two types, namely sensineural and conductive hearing loss. There are four types of hearing implants to treat hearing loss, namely the cochlear implant, middle ear implant, bone conduction implant and auditory brainstem implant, which have been included in the report. Hearing implants are used by the patients in the cases when the hearing aids don’t work. The implants are fitted by surgical procedures. The hearing implants are small complex devices that provide a sense of sound to the patients suffering from profound hearing loss.

The hearing implants consist of two parts, an external portion and the implant which is surgically placed under the skin. The microphones from the external portion capture the sound. The sound processor selects the useful sound by the microphone, which is further converted into electric impulses. Electrodes collect the impulses and send them to different regions of the auditory nerve. The implant provides a representation of the sound and help the patient to understand the speech.  The use of hearing implants require both surgical procedures with post-implantation therapies. Moreover, favorable reimbursements for the surgery has increased the adoption of hearing implants. Some of the insurance providers offer 100% insurance, while some offer 50% which varies depending upon the regions and regulations. Besides, growing geriatric population in the developed regions is expected to create opportunities for the growth of the hearing implant market. The market for hearing implants is expected to grow with the upcoming technologies and launch of innovative gadgets, which will decrease the prevalence rate and help the patients in speech recognition.

Hearing Implants Market: Value Forecast

The global hearing implants market was valued at US$ 937.7 Mn in 2017 and is expected to expand at a CAGR of 7.5% over the forecast period (2018–2028).

Hearing Implants Market: Dynamics

The growth of the global hearing implants market is mainly driven by growing prevalence of hearing loss and constant efforts by the researchers and scientists to enhance the hearing outcomes for the patients. Furthermore, early implantation in children is also expected to drive the growth of the hearing implants market. Besides, there are only three major manufacturers of hearing implants, which is expected to create growth opportunities for the new players planning to invest in the hearing implants market. Moreover, the cochlear implants segment is expected to increase by US$ 1,746.5 Mn in 2028 due to higher availability and affordability of the products with favorable reimbursements.

Hearing Implants Market: Key Regions

The global hearing implant market has been segmented on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China and Japan (APECJ), Japan and Middle East & Africa (MEA). In terms of revenue, North America is projected to be the dominant regional market for hearing implant throughout the forecast period as manufacturers in the region are developing products that have the potential to treat profound hearing loss, by collaborating with other companies and by developing sound processors with double microphones, which will help the patients to listen better without disturbances and noise. APECJ, Japan and China are expected to witness significant growth during the forecast period as numerous research and development activities are been carried out by the manufactures to improve the hearing quality of the hearing implants. The U.S. is expected to be the dominant market in North America due to a large patient pool (both pediatrics and adults above the age of 65 years) suffering from various diseases. Germany and the U.K. with a high adoption rate of hearing implants is estimated to have 48% share in the global market over the forecast period. The U.S., Japan, Germany, the U.K. and China contribute a major share in the global hearing implants market.                                                         

Hearing Implants Market: Key Players

Examples of some of the key players operating in the global hearing implants market are Cochlear Ltd., MED-EL, William Demant Holding A/S, Advanced Bionics AG, Nurotron Biotechnology Co. Ltd., Ototronix , Envoy Medical Corporation and Medtronic. A large number of players operating in the hearing implants market are focused on entering into collaborations and partnerships with other companies in order to enhance their market presence as well as technologies globally. Moreover, this also enables the companies to increase product visibility across different regions.

This Future Market Insights report examines the ‘Hearing Implants Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment, 2018 – 2028’. The primary objective of the report is to offer updates and insights regarding various market opportunities in the global hearing implant market.

Hearing implants are electronic prosthetic devices used to treat hearing loss and deafness. The hearing loss can be of two types sensorineural and conductive hearing loss. There are four types of hearing implants to treat hearing loss, i.e., the cochlear implant, middle ear implant, bone conduction implant and auditory brainstem implant. Hearing Implants are used in the patients in the cases where the hearing aids don’t work. The hearing implants are complex structures which are fitted by surgical procedures. The hearing implants consist of two parts, an external portion and the implant which is surgically placed under the skin. The hearing implants provides sound to the patients suffering from profound hearing loss. Different types of implants are used for different kinds of defects. The hearing implants are substitutes that directly stimulates the auditory nerve.  Patients with cochlear defects use the cochlear implants. Due to the technological advancement in implants bone conduction hearing aids are replaced with the Bone conduction system devices. Middle ear implants directly stimulate the middle ear as they are electronic devices that convert the sound into mechanical vibrations. However an auditory brainstem implant is used when the hearing nerve is absent or damaged. Auditory brainstem implant brings the sound signals directly to the brainstem by bypassing the nerve of hearing. It is a substitute for the patients who are suffering from profound hearing loss and are using hearing aids. Moreover reimbursements are present for the patients opting for hearing implants. The reimbursements and the insurance coverage may vary for different regions and for different providers but there can be chance that some insurance providers may offer 100% insurance while some may provide 50%.

To provide an accurate understanding and to assess the opportunities in this market, the hearing implant market is categorically split under three sections, namely market analysis by product type, end user and regions. The report analyses the global hearing implants market in terms of market value (US$ Mn) and volume.

The report starts with an overview of hearing implants and its usage in regions across the globe. In the same section, FMI covers the hearing implants performance in terms of revenue. This section includes, FMI analysis of key trends, drivers and restraints from supply-side and demand-side perspective.

The next section of the hearing implants report analyses the global hearing implants market based on product type and presents the forecast in terms of value for the next 10 years. The product types covered in the report include:

  • Cochlear Implants

  • Middle Ear Implants

  • Bone conduction Implants

  • Auditory brainstem implant

The next section of the report analyses the global hearing implant market based on end users and presents the forecast in terms value for the next 10 years. The end users covered in the report include:

  • Hospitals

  • ENT clinics

  • Ambulatory Surgical Centres

The next section of the report analyses the global hearing implants market based on regions and presents the forecast in terms of value for the next 10 years. The regions covered in the report include:

  • North America

  • Latin America

  • Western Europe

  • Eastern Europe

  • Asia Pacific excluding China and Japan (APECJ)

  • China

  • Japan

  • Middle East & Africa (MEA)

To arrive at market size, the report considers company share analysis for the majority of the companies, which includes approximatly 60% share from the geographies. The forecast presented here assesses the total revenue of the hearing implant market. Given the characteristics of the market, we have triangulated the outcome based on different analysis such as supply side, demand side and GDP growth rate. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities, rather than rationalizing them after the forecast has been completed.

In addition, we have taken into consideration year-on-year growth to understand the predictability of the market and to identify the right opportunities across the market.

As previously highlighted, the market for hearing implants is split into various sub-segments based on region, product type and end user. All these sub-segments or categories have been analysed to understand individual segments’ relative contribution to the growth. This detailed level of information is important for identification of the many key trends in the hearing implant market.

Also, another key feature of this report is the analysis of hearing implants by regions, product type and end users. The revenue forecast in terms of absolute dollar value is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective.

Furthermore, Future Market Insights has developed market attractiveness index for all three segments – regional, product type and by end user segments. This index helps in identifying the real opportunities available in the market.

In the final section of the report, the hearing implants market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the market, presence in hearing implant product portfolio and key differentiators.

Examples of some of the key players operating in the global hearing implants market include Cochlear Ltd., MED-EL, William Demant Holding A/S, Advanced Bionics AG, Nurotron Biotechnology Co. Ltd., Ototronix , Envoy Medical Corporation and Medtronic.

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