#Global Cochlear Implants Market

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Cochlear Implants Market to Hit $3 Billion by 2032

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The global Cochlear Implants Market was valued at USD 1.5 Billion in 2024 and it is estimated to garner USD 3 Billion by 2032 with a registered CAGR of 9.2% during the forecast period 2024 to 2032.

Firstly, the Market report for Cochlear Implants Market describes the current state of the companies and recommends where it is likely to go next. The report shows the production, revenue, price, market share, and growth rate of each type, mainly divided into Product Types and Product Applications etc.

Additionally, this market report focuses on offering key business measures such as real market moves, market size, qualities, and freedoms, as well as forecast opportunities. This Cochlear Implants Market report also offers distinctive insights into wealthy regions such as Europe, North America, the Middle East, Africa, and Latin America.

Get a Sample Copy of the Cochlear Implants Market Report at: https://www.vantagemarketresearch.com/cochlear-implants-market-2348/request-sample

Top Competitors:

Cochlear Ltd. (Australia), Sonova (Switzerland), MED-EL Medical Electronics (Austria), Demant A/S (Denmark), Zhejiang Nurotron Biotechnology Co. Ltd. (China)

This market report has all the information you need to start or grow your business in the industry. It also includes market drivers, restraints, competitiveness, and geographic estimates, as well as a price and emerging market structure. It is a complete description of a company's business model, benchmarks, consumer preferences, value proposition, and net profit. This comprehensive Cochlear Implants Market study also sheds light on key techniques that help companies truly assess their customers' buying behavior.

It represents global economic trends between 2024 and 2032. With the help of this market research, top companies can easily make smarter financial decisions. This market analysis is an excellent technique to help companies implement new products. It also includes critical data on major industry topics, including market expansions and evolving market conditions.

This well-researched Cochlear Implants Market report describes the negative impact COVID-19 is having on various companies and offers companies recommendations on how to recover from the damage suffered by the outbreak as well as the nationwide quarantine. The plan analyzes the company's expectations and priorities, as well as the delivery of all crucial data.

You Can Buy This Report From Here: https://www.vantagemarketresearch.com/buy-now/cochlear-implants-market-2348/0

This report analyzes key market segments by type, application, and geography. The geographic analysis section covers key regions such as Europe, North America, the Middle East, Africa, and the Asia-Pacific region.

This Cochlear Implants Market report not only provides valuable data but outlines key goals, pricing strategies, and approaches to help market participants' recommendations in this report will make accelerating economic growth easy. It offers some specific tips and business-related data to help new competitors in the market grow their businesses and diversify their product lines. Companies in the industry should choose tactics that include new product launches, mergers, and partnerships to survive in the competitive marketplace and strengthen their position.

Regional Analysis

-North America [United States, Canada, Mexico]

-South America [Brazil, Argentina, Columbia, Chile, Peru]

-Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]

-Middle East & Africa [GCC, North Africa, South Africa]

-Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

The quantitative information in this Cochlear Implants Market analysis helps predict future sales and market penetration. This type of information is based on statistics. The qualitative information provided here will greatly help the key players understand the buyer's opinion of your brand. Improving business goals becomes easy with the information provided in this report.

The industries can draw some conclusions about their original goals. In business. This Cochlear Implants Market research helps you make assumptions about your competition, customers, and the market in order to make informed business decisions. Additionally, it forecasts the competition in the market for the estimated period of 2024-2032. Effective decision-making in companies leads to business growth and is made possible by this precise market study.

Read Full Research Report with [TOC] @ https://www.vantagemarketresearch.com/industry-report/cochlear-implants-market-2348

Some of the Key Questions Answered in this Report:

Which are the five top players of the Cochlear Implants Market?

How will the Cochlear Implants Market change in the upcoming years?

Which product and application will take a share of the Cochlear Implants Market?

What will be the CAGR and size of the Cochlear Implants Market throughout the forecast period?

What are the drivers and restraints of the Cochlear Implants Market?

Which regional market will show the highest growth?

What is the current industry size, what will the market size be in 2030 and what will the growth rate be?

Who are the major competitors and what is their strategy?

What are the challenges to grow in the industry?

What are the market opportunities and challenges faced by the key vendors?

What are the barriers to entry for new players in the Cochlear Implants industry?

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[industrynewsupdates]

Bioresorbable Polymers Market Growth: Key Drivers and Trends to Watch

The global bioresorbable polymers market was valued at USD 1.30 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. The market expansion is primarily driven by a combination of factors, including the rising consumer health awareness, improvements in healthcare facilities, and an increasing number of surgical procedures performed worldwide. According to data from the National Library of Medicine (NLM), around 310 million major surgeries are conducted globally each year, with 20 million surgeries taking place in Europe and 40 to 50 million in the United States. Bioresorbable polymers are a class of materials that can be naturally broken down and absorbed by the body over time, making them highly suitable for medical applications.

These polymers are produced by polymerizing bio-based raw materials through specialized industrial processes. The increasing demand for medical implants, such as cochlear implants, pacemakers, breast implants, and hip implants, is another significant factor driving the growth of the bioresorbable polymers market. As reported by the National Institute on Deafness and Other Communication Disorders (NIDCD), over 737,000 cochlear implants were implanted globally by December 2019. Similarly, the Organization for Economic Cooperation and Development (OECD) noted that hip replacement surgeries increased by 22% between 2009 and 2019, and knee replacements saw an increase of 35% in the same period. This growing need for medical implants is further boosting the market demand for bioresorbable polymers.

Gather more insights about the market drivers, restrains and growth of the Bioresorbable Polymers Market

Application Insights

In 2022, the orthopedics segment emerged as the leading application for bioresorbable polymers, accounting for 43.6% of the total market revenue. This dominance is largely driven by the increasing prevalence of orthopedic conditions such as arthritis, osteoporosis, and degenerative joint diseases, which are exacerbated by factors like an aging population, sedentary lifestyles, obesity, and a lack of physical activity. The rising demand for orthopedic procedures, including knee and hip replacements, is expected to continue fueling growth in this segment.

For example, the National Institutes of Health (NIH) reported that total knee arthroplasty (TKA) was the most commonly performed inpatient surgical procedure in the U.S., with over 1.37 million procedures performed in 2020. The number of TKA surgeries is expected to rise significantly, reaching 3.48 million annually by 2030. Medical products such as screws, sutures, stents, and pins made from bioresorbable polymers are increasingly being used in a variety of medical procedures, including joint repairs and prosthetics. Companies like Evonik Industries AG are developing and offering a range of bioresorbable medical products, such as surgical screws, which are designed to enhance patient care by improving clinical outcomes and reducing the need for additional surgeries. These resorbable implants also help to lower healthcare costs by eliminating the need for secondary removal procedures, a key benefit that is driving their adoption.

Another promising application area for bioresorbable polymers is drug delivery, which is projected to experience the fastest growth during the forecast period, with a CAGR of 15.7%. This growth is largely attributed to the rising prevalence of chronic diseases and the expanding aging population, both of which create a growing demand for more efficient drug delivery systems. Bioresorbable polymers are especially beneficial in drug delivery because they reduce the need for invasive procedures. For instance, implantable devices or sustained-release formulations can help minimize the frequency of invasive procedures, leading to improved patient comfort, reduced healthcare costs, and better therapeutic outcomes.

A notable development in this area occurred in June 2020, when Evonik launched the RESOMER Precise platform, a breakthrough innovation in custom functional polymeric excipients. This platform allows pharmaceutical companies to have unprecedented control over the release profile of parenteral drug products, which is crucial for ensuring consistent and effective treatment. The RESOMER platform, developed using Evonik’s advanced process technology, not only improves the stability of drug products but also helps to mitigate regulatory risks associated with complex drug formulations. This innovation is expected to contribute significantly to the growth of bioresorbable polymers in drug delivery applications, offering enhanced precision and effectiveness in treating a variety of medical conditions.

Order a free sample PDF of the Bioresorbable Polymers Market Intelligence Study, published by Grand View Research.

[trendingrepots]

Cochlear Implant Market - Forecast(2024 - 2030)

The cochlear implant market registered a global value of $1.5 billion in 2018. In line with growing awareness of hearing impairment, the global cochlear implant market is projected to grow at a CAGR of 10.6% through the forecast period of 2019-2025.

According to the World Health Organization (WHO), around 466 million people globally have disabling hearing loss and 34 million among them are children. Globally, 1.1 billion people, aged between 12-35 years, are at the risk of developing hearing loss owing to exposure to excessive noise in a recreational environments. Congenital hearing loss is an issue found among the newborn infants, under this condition, the babies suffer from one or more hearing impairment. According to the March of Dimes, up to 3 in 1,000 infants are born with congenital hearing loss in the United States each year.  Although, the number is less than 1%, but it is affecting the families involved at a greater extent. By 2050, over 900 million people are expected to develop disabling hearing loss. Implementing cochlear implants in the human ear can help tackle this condition.

Europe was the most lucrative region in the global cochlear implant market in 2018, accountable for 35% of the total cochlear implant market share. According to the European Federation of Hard of Hearing People, the annual cost of untreated hearing loss in Europe is around $200 billion. Evidently, a significant share of healthcare funds are invested in hearing loss due to its heavy importance. The number is on a rise for hearing loss patients all over the world, and hearing aid devices are far from fulfilling this growing number of patients. Therefore, there is a dire need of implementing cochlear implants at a commercially viable level so as to cater to each and every section of the society. In economical stable and technically advanced countries such as France, Germany, and Belgium, the massive capital investment policies are supporting the growth in the healthcare segment and further creating opportunities for the cochlear implant market.

 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 

Cochlear Implant Market Outlook:

A cochlear implant is a neuroprosthetic device that is surgically implanted into the ears of deaf patients. These implants skip the acoustic hearing process; and instead convert sounds to electric signals that stimulate the auditory nerve and result in hearing. The demands for cochlear implants are surging owing to the increasing geriatrics population among both the developed and developing economies.  

The adult population is the key end-user segment in the cochlear implants market, estimated to grow at a CAGR of 8.21% through to 2025. Growing density of geriatrics population is one of the main reasons driving growth in the cochlear market. According to the United Nations, there were 962 million people aged over 60 years in 2017 globally. This number is projected to reach 2.1 billion by 2050. A considerable number of people suffer from hearing impairment at this age. Moreover, the global acceptance of cochlear implant devices by the aged population is supporting growth of the cochlear implant market.

Cochlear Implant Market Growth Drivers

·      Growing awareness of advancements in cochlear implants is one of the major growth drivers in the cochlear implant market. The cochlear implant is relatively better than hearing aid devices, as it assists deaf persons with nearly 80% of hearing issues unlike the 10% assistance offered by hearing aids.

·    Growing number of people affected by noise pollution is driving the global cochlear implant market growth. Exposure to excess noise pollution from industrial, transportation, and construction activities is responsible for the global hearing loss problems. However, with technological advancements in the healthcare industry, such as with improvements in cochlear implants, concerns related to loss of hearing have become curable.

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Building a Neuroprosthetics Brand: Strategies for Differentiation

The neuroprosthetics market is experiencing unprecedented growth, driven by technological advancements and increasing demand for innovative medical devices that enhance the quality of life for individuals with neurological disorders. According to a comprehensive report by SNS Insider, the neuroprosthetics market is projected to reach significant revenue milestones, fueled by the rising incidence of neurological conditions, a growing elderly population, and advancements in neurotechnology.

Neuroprosthetics, which encompass devices designed to replace or enhance neural function, are being increasingly recognized for their potential to restore lost functions due to nerve damage, spinal cord injuries, and various neurodegenerative diseases. These devices, ranging from brain-computer interfaces (BCIs) to cochlear implants, have shown remarkable efficacy in improving patient outcomes, thereby propelling the market's expansion.

Key Market Insights

Market Growth Drivers: The increasing prevalence of neurological disorders such as Parkinson's disease, Alzheimer's disease, and epilepsy is a primary driver of market growth. As the global population ages, the demand for effective therapeutic solutions is more pressing than ever.

Technological Advancements: Rapid advancements in neurotechnology, including the integration of artificial intelligence and machine learning, are revolutionizing the development of neuroprosthetic devices. These technologies enhance device capabilities, allowing for more personalized and effective treatment options.

Rising Investment in R&D: Significant investments in research and development by key players in the healthcare sector are fostering innovation in neuroprosthetics. Companies are focusing on developing next-generation devices that offer improved functionality and user experience, further stimulating market growth.

Expanding Applications: Neuroprosthetics are being utilized in a growing number of applications, from restoring motor function in paralyzed individuals to improving sensory perception in the hearing impaired. This diversification of applications is broadening the market's potential customer base.

Regulatory Support: Support from regulatory bodies for the development and approval of innovative neuroprosthetic devices is enhancing market dynamics. Clear regulatory pathways facilitate the timely introduction of new products, enabling companies to meet the evolving needs of patients and healthcare providers.

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Challenges and Restraints

Despite the promising outlook, the neuroprosthetics market faces several challenges. The high cost of advanced neuroprosthetic devices can limit accessibility for many patients, particularly in developing regions. Additionally, the complexity of these devices necessitates extensive training for healthcare professionals, which can slow down adoption rates.

Competitive Landscape

The competitive landscape of the neuroprosthetics market is characterized by a mix of established players and emerging startups. Major companies are focusing on strategic partnerships and collaborations to leverage complementary strengths and accelerate innovation. Recent mergers and acquisitions in the industry are also indicative of the increasing importance of this market segment.

Key Players Include:

Medtronic

Boston Scientific Corporation

Cochlear Limited

Abbott Laboratories

NeuroPace, Inc.

Future Outlook

Looking ahead, the neuroprosthetics market is set to witness substantial growth. With ongoing research efforts and increasing collaborations between academia and industry, the potential for groundbreaking innovations in this field is vast. The market is expected to capitalize on the growing emphasis on personalized medicine, which aligns with the advancements in neuroprosthetic technology.

As the healthcare landscape continues to evolve, the neuroprosthetics market will play a crucial role in providing solutions that enhance patient care and improve the quality of life for individuals with neurological impairments.

For more detailed insights, please explore the full report on the Neuroprosthetics Market Revenue.

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Audiological Devices Market: Driving Growth with Cutting-Edge Tech, Rising Demand and Increased Focus on Hearing Health Awareness

The global audiological devices market is experiencing significant growth, driven by several factors ranging from technological advancements to increasing awareness of hearing health. As the global population ages and hearing impairments become more prevalent, the demand for hearing devices and related technologies is expected to rise. This article delves into the current trends shaping the audiological devices market and the key drivers fueling its growth.

Market Overview

Audiological devices encompass a wide range of equipment designed to assist individuals with hearing impairments. These include hearing aids, cochlear implants, bone-anchored hearing systems, diagnostic instruments, and assistive listening devices. The growing prevalence of hearing loss, particularly among the aging population, is one of the primary factors driving the demand for these devices.

According to the World Health Organization (WHO), over 1.5 billion people worldwide are currently living with hearing loss, and this number is expected to rise to 2.5 billion by 2050. The increasing incidence of hearing impairments has led to a growing need for audiological devices, which are critical for improving the quality of life for affected individuals.

Key Trends Shaping the Audiological Devices Market

Technological Advancements

Digital Hearing Aids: The shift from analog to digital hearing aids has revolutionized the audiological devices market. Digital hearing aids offer enhanced sound quality, noise reduction, and the ability to connect to smartphones and other devices via Bluetooth. These innovations provide users with greater control over their hearing aids and improve the overall listening experience.

AI and Machine Learning Integration: The incorporation of artificial intelligence (AI) and machine learning in audiological devices has become a significant trend. AI-powered hearing aids can automatically adjust sound settings based on the user's environment and learning patterns. This personalized experience is particularly beneficial for individuals with varying degrees of hearing loss in different settings.

Miniaturization of Devices: Advances in microelectronics have led to the development of smaller, more discreet hearing aids and implants. Consumers now prefer less visible devices that do not compromise on functionality. This trend is expected to continue, driven by the demand for comfort and aesthetics.

Rechargeable Hearing Aids: Battery-operated hearing aids have traditionally dominated the market, but rechargeable options are gaining popularity. The convenience of avoiding frequent battery replacements is appealing to many users, especially those with dexterity issues or busy lifestyles.

3D Printing: Customization is increasingly becoming important in audiological devices. 3D printing technology is being used to create custom ear molds for hearing aids, offering a more personalized and comfortable fit. This trend is particularly prominent in pediatric audiology, where comfort and fit are crucial.

Increasing Demand for Cochlear Implants

Rising Adoption: Cochlear implants, which are designed for individuals with severe to profound hearing loss, have seen a rise in adoption rates globally. These devices offer a more effective solution for those who do not benefit from traditional hearing aids. Technological advancements have improved the performance of cochlear implants, making them more accessible to a wider range of patients.

Pediatric Segment Growth: The pediatric segment is witnessing significant growth in the cochlear implant market due to the increasing awareness about early diagnosis and intervention for hearing impairments in children. Early implantation can drastically improve language development and cognitive outcomes in children, leading to better quality of life.

Telehealth and Remote Audiology Services

Tele-audiology: The COVID-19 pandemic accelerated the adoption of telehealth services across various sectors, including audiology. Tele-audiology enables patients to receive consultations, hearing aid adjustments, and follow-up care remotely. This is particularly beneficial for individuals in rural or underserved areas who may have limited access to in-person audiological services.

Remote Device Adjustments: Many modern hearing aids now come with the ability to be adjusted remotely by audiologists. This trend is not only convenient for patients but also enhances the efficiency of care delivery by reducing the need for frequent in-office visits.

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Key Drivers of the Audiological Devices Market

Rising Prevalence of Hearing Loss

Aging Population: Hearing loss is strongly correlated with aging. As the number of elderly individuals grows globally, the demand for audiological devices is expected to rise. According to WHO, approximately 25% of people over the age of 60 experience disabling hearing loss.

Noise-Induced Hearing Loss: The increasing exposure to high levels of noise, both occupationally and recreationally, is contributing to the rising incidence of hearing impairments. Younger populations are particularly at risk due to the widespread use of personal audio devices at high volumes, leading to early-onset hearing loss.

Government Support and Reimbursement Policies

Favorable Policies: Many governments are implementing policies to support the adoption of hearing aids and implants. In several countries, audiological devices are covered by public health insurance or private reimbursement plans, making these devices more affordable for a larger segment of the population.

Hearing Health Initiatives: Public health organizations are focusing on initiatives that promote hearing loss prevention, early diagnosis, and intervention. These efforts are driving increased awareness and acceptance of audiological devices, especially among individuals who may have been reluctant to seek treatment in the past.

Increasing Investment in Research and Development

Innovation and Product Development: The audiological devices market is characterized by continuous innovation, with companies investing heavily in research and development. Advances in signal processing, wireless connectivity, and battery life are contributing to the development of next-generation hearing aids and implants that offer superior performance and user experience.

Pediatric Audiology Advancements: The market is also seeing increased investment in pediatric audiology solutions. Early intervention and diagnosis are crucial for children with hearing impairments, and the development of pediatric-specific devices is a key focus area for manufacturers.

Growing Demand in Emerging Markets

Access to Healthcare: The audiological devices market is expanding rapidly in emerging economies due to improving access to healthcare services and rising disposable incomes. Countries in Asia-Pacific and Latin America, in particular, are witnessing an increased demand for hearing aids and implants as more individuals gain access to hearing health services.

Expanding Middle Class: In many developing countries, the expanding middle class is driving the demand for premium audiological devices. As disposable incomes rise, consumers in these regions are more likely to invest in advanced hearing solutions that offer superior comfort and performance.

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New Tools and Technology Development will drive ENT Devices Market in coming years

ENT Devices Industry Overview

The global ENT devices market size was estimated at USD 25.93 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.54% from 2024 to 2030. This growth can be attributed to several factors, such as high prevalence of ENT-related disorders, an increase in the usage of minimally invasive ENT procedures, and rising geriatric population. Technological advancements also play a crucial role in driving the market growth.

The demand for advanced ENT devices, like robot-assisted endoscopes, is more in developed countries such as the U.S. while it is less in developing countries due to their high cost. The ENT devices market penetration is anticipated to grow significantly due to increasing healthcare spending by other governments and a rise in per capita income. Sales are expected to increase rapidly in developing economies due to high occurrences of ENT diseases such as hearing loss and sinusitis. Additionally, there is an increase in efforts to provide better access to healthcare facilities in these regions.

Gather more insights about the market drivers, restrains and growth of the ENT Devices Market

Hearing loss or impairment is a common condition among patients, particularly in industrialized countries. The World Health Organization reported, more than 430 million people worldwide, approximately 5% of the world's population, have a disabling hearing loss. This number is projected to rise to over 700 million, or one in every ten people, by 2050. The main reasons for this increase are growing life expectancy and noise pollution, leading to more age-related hearing loss cases. In low-income countries, infections such as middle ear infections, measles, or meningitis are the common causes of hearing loss. Moreover, vascular disorders, noise exposure, chronic inflammation, genetic susceptibility, physiological aging of the ear contributing to hearing impairment.

Rising technological advancements such as the adoption of AI and ML and innovations in auditory products are propelling industry growth. For instance, in September 2023, ELEHEAR Inc., an AI-powered hearing aids and audio solutions provider, introduced ELEHEAR Alpha Pro and ELEHEAR Alpha hearing aid devices. It is incorporated with AI noise reduction and extraction, which predicts daily users and their actions to minimize the effect of noise in typical audio environments such as public transit, offices, restaurants, homes, and busy streets. In March 2023, Oticon Medical A/S introduced new features in the processing chip Polaris R, which uses an onboard Deep Neural Network (DNN) for an entirely new method of sound processing. The updated processing chip features include sudden sound stabilizer and Wind & Handling Stabilizer.

Browse through Grand View Research's Medical Devices Industry Research Reports.

• The global intrauterine devices market size was estimated at USD 6.25 billion in 2023 and is projected to grow at a CAGR of 3.66% from 2024 to 2030.

• The global dual chamber prefilled syringes market size was valued at USD 167.3 million in 2023 and is projected to grow at a CAGR of 5.8% from 2024 to 2030.

Key ENT Devices Company Insights

Some of the key market players include, Cochlear Ltd., Demant A/S, Stryker, and KARL STORZ.

Cochlear Ltd. (Cochlear) engages in developing and commercializing cochlear implants, bone conduction implants, & acoustic implants to treat hearing-impaired individuals. Cochlear Ltd. is a global company with major manufacturing facilities in Sweden and Australia.It has a global presence in more than 180 countries.

Demant A/S (Demant) is a global company that develops, manufactures, and commercializes hearing implants, traditional hearing instruments, personal communication devices, & diagnostic instruments. The group operates in over 30 countries and sells its products in over 130 countries.

Nemera., Nico Corporation, and Rion Co., Ltd. are the emerging market participants.

Nemera, founded in 2003, is a medical equipment manufacturer specializing in a diverse product portfolio, including Ear, Nose, Throat, Nasal spray pumps, drug delivery devices, ophthalmic, and others. In 2021, Nemera established an operational base in Brazil and expanded its product and service offerings throughout Latin America.

NICO Corporation is a medical technology company that specializes in developing minimally invasive surgical solutions, particularly in the fields of neurosurgery and otolaryngology (ear, nose, and throat or ENT)

Key ENT Devices Companies:

The following are the leading companies in the ENT devices market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these ENT devices companies are analyzed to map the supply network.

Ambu A/S

Cochlear Ltd.

Demant A/S

GN Store Nord A/S

Karl Storz SE & Co.

Olympus Corporation

Pentax of America, Inc.

Richard Wolf GmbH

Rion Co., Ltd.

Smith & Nephew plc

Sonova

Starkey Laboratories, Inc.

Stryker

Nico Corporation

Nemera

Recent Developments

In April 2023, Unitron, a brand of Sonova launched Vivante, a platform aimed to enhance listener���s experience through personalized hearing control. This platform offers improved sound performance and new designs to enhance the hearing experience, integrating  experience innovations and the remote plus app to offer a customized hearing experience.

In February 2023, Cochlear Ltd. announced a partnership with Amazon.com, Inc. to expand audio streaming for hearing aids for people with Cochlear's hearing implants to provide comfortable entertainment.

In November 2022, Cochlear Ltd. announced the expansion of its manufacturing facility plant in Kuala Lumpur, Malaysia. The expansion involved an asset of more than USD 6.28 million (RM 30 million) to help the growing demand for acoustic and cochlear hearing implants

Order a free sample PDF of the ENT Devices Market Intelligence Study, published by Grand View Research.

[industryforecastnews]

Cochlear Implant Market Size To Reach USD 2.77 Billion By 2030

Cochlear Implant Market Growth & Trends

The global cochlear implant market is anticipated to reach USD 2.77 billion by 2030, growing at a CAGR of 6.02% during the forecast period, according to a new report by Grand View Research, Inc. Hearing loss is a major concern caused by genetic factors, infections, and medications. Favorable reimbursement policies, minimally invasive procedures, and technological advancements are boosting the adoption of cochlear implants.

The increasing approvals of cochlear implants, owing to technological advancements, is expected to boost the market’s growth. For instance, in December 2020, Advanced Bionics LLC, a U.S. subsidiary of Sonova, received FDA approval for Naida CI Marvel and Sky CI Marvel sound processors in the United States. These sound processors allow users to customize their implants with the help of machine learning algorithms, based on the wearers’ location whether in noisy places or at homes.

Increasing investment in R&D activities for product innovation enables manufacturers to compete with other players to achieve a greater market stronghold. For instance, Cochlear Ltd. increased its investment to USD 199.5 million in 2021 from USD 25.9 million in 2020 . Kanso 2 sound Processor, Nucleus 7 Sound Processor, and custom sound pro fitting software by Cochlear Ltd. are some of the product launched in 2020.

Moreover, several initiatives are being undertaken by governments and various organizations to support research in the field of cochlear implantation. For instance, in March  2022, the ACI Alliance members shared their research and clinical practice at the AAA conference in 2022. The conference aimed to connect with peers, stay updated with upcoming information, and know about recent developments in the audiological industry. This is expected to boost the market’s growth.

The increasing prevalence of hearing impairment among elderly is a significant factor driving market growth. The rising burden of hearing impairment in this age group is expected to drive this growth. According to the UN's World Social Report 2023, 761 million people globally are aged 65 years and above in 2021. According to the WHO, the geriatric population is expected to nearly double from 12% in 2012 to 22% in 2050, reaching two billion by 2050 from 900 million in 2015. This is expected to drive the demand for both short and long-term demand for auditory impairment devices have increased, driving the market growth.

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Cochlear Implant Market Report Highlights

Based on age group, the adult segment dominated with the largest revenue share of 57.70% in 2023. This can be attributed to the presence of a large patient population, lower complications compared to complications in children, and availability of several products.

Based on end-use, the clinics segment held the largest revenue share in 2023. This can be attributed to the implantation procedures increasingly being performed in outpatient clinics.

North America dominated the market in 2023, attributed to technological advancements, reimbursement coverage, and greater spending capacity, resulting in high adoption of cochlear implant devices.

Asia Pacific is expected to grow at the fastest CAGR during the forecast period. This can be attributed to the rapidly increasing geriatric population coupled with rising awareness about hearing aids and the local presence of key players in the region.

Some prominent market players include Cochlear Ltd, Sonova, MED-EL Medical Electronics, Demant A/S, Zhejiang Nurotron Biotechnology Co. Ltd., and Amplifon S.p.A. (GAES)

In February 2023, Cochlear Ltd. partnered with Amazon.com, Inc. to expand audio streaming for hearing aids to provide comfortable entertainment for people with Cochlear's hearing implants.

Cochlear Implant Market Segmentation

Grand View Research has segmented the global cochlear implant market based on age group, end-use, and region:

Cochlear Implant Age Group Outlook (Revenue, USD Million, 2018 - 2030)

Adult

Adult Unilateral Implants

Adult Bilateral Implants

Pediatric

Pediatric Unilateral Implants

Pediatric Bilateral Implants

Cochlear Implant End-use Outlook (Revenue, USD Million, 2018 - 2030)

Clinics

Hospitals

Others

Regional Insights

North America held the largest market share of 36.83% in 2023. Some of the key drivers for this growth include technological advancements, reimbursement coverage, and greater spending capacity, resulting in high adoption of cochlear implant devices. In addition, the availability of skilled surgeons and well-equipped clinics is another factor propelling the regional growth. Moreover, key companies are developing products that can provide profound treatment to cochlear implant patients, along with developing sound processors with dual microphones.

Cochlear Implant Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

U.S.

Canada

Europe

U.K.

Germany

France

Italy

Spain

Denmark

Sweden

Norway

Asia Pacific

Japan

China

India

Thailand

South Korea

Australia

Latin America

Brazil

Mexico

Argentina

Middle East & Africa

South Africa

Saudi Arabia

UAE

Kuwait

List of Key Players in the Cochlear Implant Market

Cochlear Ltd.

Sonova

MED-EL Medical Electronics

Demant A/S

Zhejiang Nurotron Biotechnology Co., Ltd. (Nurotron)

Amplifon S.p.A. (GAES)

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/cochlear-implants-industry  

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Cochlear Implants Market will grow at highest pace owing to rising prevalence of hearing loss

The cochlear implants market is witnessing significant growth due to factors such as rising prevalence of hearing loss and technological advancements in cochlear implant solutions. According to WHO, over 5% of the global population has disabling hearing loss and if left untreated, it can negatively impact language development, education and social well-being. Cochlear implants help to provide a sense of sound to those severely or profoundly deaf or hard-of-hearing individuals. It consists of an external portion that sits behind the ear and a second portion that is surgically placed under the skin.

Global cochlear implants market is estimated to be valued at US$ 50,947.4 million in 2024 and is expected to exhibit a CAGR of 5.8% over the period 2023 to 2030. Key Takeaways Key players operating in the cochlear implants market are Valtronic, Nurotron Biotechnology Co. Ltd., Cochlear Ltd., MED-EL Medical Electronics., Oticon Medical, Demant A/S, The Cochlear Implant Group, Sonova and Ear Technology Corporation. These major companies are focusing on new product launches and expanding their geographic presence across various countries to bolster market share. Rising prevalence of hearing loss is a key growth driver for the cochlear implants market. As per WHO, over 466 million people worldwide have disabling hearing loss and the number is estimated to increase to over 900 million by 2050. Untreated hearing loss can lead to communication challenges, social isolation, economic hardship and lack of access to emergency alerts or warning systems. This is expected to fuel the demand for cochlear implants during the forecast period. Technological advancements in the field of sound processor and implantation surgery have augmented the performance of cochlear implants. Major industry players are focused on developing advanced implant designs, minimally invasive surgical techniques and high-performance external components to provide clearer speech recognition and more natural sound experience to patients. Growing R&D initiatives for soft surgery methods and digitally enhanced cochlear implants will support market growth. Market Trends Use of 3D printing technology - Major manufacturers are incorporating 3D printing in cochlear implants to reduce production costs and provide custom-made implants. 3D printing enables fabricating implants with complex geometries tailored to individual anatomy which can optimize hearing outcomes. Remote fitting of sound processors - Leading players are introducing remote monitoring capabilities and app-based sound processor fitting options. This helps in continuous adjustment of sound processor programs over-the-air without requiring patient visit to clinic, thereby improving convenience. Market Opportunities Emerging markets in Asia Pacific and Latin America offer lucrative opportunities owing to increasing healthcare expenditure, rising awareness about treatment options and growing geriatric population. Market players can gain a competitive edge by establishing production facilities and sales network in these high potential regions.

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Cochlear Implants Market - The Future of Hearing

Cochlear implants represent a breakthrough technology that may reestablish the capacity to hear among people with severe to profound hearing impairment and for whom conventional hearing aids demonstrate no sufficient benefits. Unlike hearing aids, which simply amplify sounds, cochlear implants bypass the damaged portions of the inner ear (cochlea) and directly stimulate the auditory nerve, providing access to sound signals and better speech understanding in the user. The globally growing cochlear implant market is due to enhanced implant technology, increasing cases of hearing loss, and growing awareness about cochlear implants among health professionals and patients. Cochlear implants are life-changing devices that help people with profound hearing impairment communicate effectively, interact socially, and enjoy a better quality of life.

The important constituents for implanting a cochlear implant system include an external sound processor, microphone, speech processor, transmitter coil, and internal implant with electrodes. The external components pick up the sound signals, which through processing are converted into electrical signals by the speech processor and transmitted wirelessly to the internal implant. The implant's electrodes stimulate the auditory nerve fibers in the cochlea, thereby enabling the brain to perceive the sound.

Cochlear implants are indicated in children and adults with severe to profound sensorineural hearing loss where conventional hearing aids have limited benefit. Candidates for cochlear implants go through extensive testing by audiologists and otolaryngologists regarding the amount of hearing loss, speech understanding abilities, and other general health considerations before implantation.

Apart from re-introducing auditory sensations, cochlear implants facilitate auditory rehabilitation and speech therapy in a manner aimed at attaining the best possible ability regarding sound signal interpretation and processing in any particular user over time. In that regard, support programs after implantation and rehabilitation are of great importance in helping recipients get adjusted to their new auditory capabilities and maximize the offered potential by cochlear implant technology.

Author Bio -

Akshay Thakur

Senior Market Research at The Insight Partners

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Artificial Pancreas Device System Market Will Hit Big Revenues In Future | Biggest Opportunity Of 2024

Artificial organs are man-made bio-artificial organs that are implanted in the body to replace or support natural organs. Artificial organs mainly include artificial heart, pancreas, kidney, and cochlear implants. They consist of biocompatible materials such as polymers, biologicals, ceramics, and metals. Various technologies such as sensors, biomaterials, and innovative delivery systems are implanted in the artificial pancreas. In addition, the artificial pancreas performs the same function as the natural pancreas and helps the patient to live a high-quality life. The artificial pancreatic device system is able to almost perfectly replicate the regulatory functions of glucose in a healthy organic pancreas. These systems generally include three types of devices: an insulin pump or infuser, a constant glucose monitoring system, and a glucometer or other blood glucose meter. The meter is required to support the calibration of the CGM. This can also be done with a computer that can manage an algorithm to control the CGM using values derived from the blood glucose meter. An artificial pancreatic device system is usually a closed system that follows an automated process for delivering insulin to a patient. It can, therefore, be completely autonomous and work without manual input, similar to an organic pancreas.

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Latest released the research study on Global Artificial Pancreas Device System Market, offers a detailed overview of the factors influencing the global business scope. Artificial Pancreas Device System Market research report shows the latest market insights, current situation analysis with upcoming trends and breakdown of the products and services. The report provides key statistics on the market status, size, share, growth factors of the Artificial Pancreas Device System The study covers emerging player’s data, including: competitive landscape, sales, revenue and global market share of top manufacturers are Medtronic (Ireland), Johnson & Johnson (United States), TypeZero Technologies (United States), Tandem Diabetes Care (United States), Pancreum (United States), Insulet Corporation (United States), Beta Bionics, Inc. (United States), Animas Corporation (United States), Bigfoot Biomedical (United States)

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Enhancing Connectivity with Bluetooth-Enabled Hearing Aids

Hearing care devices have undergone transformative advancements, significantly improving the quality of life for individuals with hearing impairments.

Modern hearing aids are now more sophisticated, offering features such as digital signal processing, noise reduction, and Bluetooth connectivity, which allow users to seamlessly connect to smartphones, televisions, and other devices. These innovations provide clearer sound quality and enhance the ability to engage in conversations, even in noisy environments. Cochlear implants represent another groundbreaking development, providing a solution for individuals with severe hearing loss who do not benefit from traditional hearing aids. These implants work by bypassing damaged parts of the ear and directly stimulating the auditory nerve, offering a new sense of hearing to those previously unable to hear. Additionally, bone-anchored hearing systems and middle ear implants offer alternative solutions for specific types of hearing loss, expanding the range of options available. The integration of artificial intelligence in hearing care devices has further revolutionized the field, enabling real-time adjustments and personalized hearing experiences based on the user’s environment. As these devices continue to evolve, they not only improve auditory health but also enhance social interaction, emotional well-being, and overall quality of life for millions of people worldwide.#HearingCare #HearingAids #CochlearImplants #HearingHealth #AuditoryHealth #MedicalInnovation #DigitalHearing #AIinHealthcare #BluetoothHearingAids #BoneAnchoredHearing #MiddleEarImplants #QualityOfLife #HearingSolutions #ModernHealthcare #PatientCare

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Global Top 5 Companies Accounted for 85% of total Hearing Loss Therapy market (QYResearch, 2021)

Hearing loss therapy refers to the latest technological advances and treatment options for people with hearing impairment, including Ear-Based Hearing Aids, bone anchors, cochlear implants and mixed arteries, auditory brainstem implants, and the transfer of genes to the inner ear through stem cell therapy and hair cell regeneration for the treatment of sensorineural hearing loss.

In this report, we mainly study the medical devices for hearing loss therapy.

According to the new market research report “Global Hearing Loss Therapy Market Report 2023-2029”, published by QYResearch, the global Hearing Loss Therapy market size is projected to reach USD 16.2 billion by 2029, at a CAGR of 7.0% during the forecast period.

Figure.   Global Hearing Loss Therapy Market Size (US$ Million), 2018-2029

Figure.   Global Hearing Loss Therapy Top 14 Players Ranking and Market Share（Based on data of 2021, Continually updated）

The global key manufacturers of Hearing Loss Therapy include Sonova, William Demant, WS Audiology, Cochlear, GN ReSound, Starkey, MED-EL, Rion, Audina Hearing Instruments, Sebotek Hearing Systems, etc. In 2021, the global top five players had a share approximately 85.0% in terms of revenue.

About QYResearch

QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.

QYResearch is a world-renowned large-scale consulting company. The industry covers various high-tech industry chain market segments, spanning the semiconductor industry chain (semiconductor equipment and parts, semiconductor materials, ICs, Foundry, packaging and testing, discrete devices, sensors, optoelectronic devices), photovoltaic industry chain (equipment, cells, modules, auxiliary material brackets, inverters, power station terminals), new energy automobile industry chain (batteries and materials, auto parts, batteries, motors, electronic control, automotive semiconductors, etc.), communication industry chain (communication system equipment, terminal equipment, electronic components, RF front-end, optical modules, 4G/5G/6G, broadband, IoT, digital economy, AI), advanced materials industry Chain (metal materials, polymer materials, ceramic materials, nano materials, etc.), machinery manufacturing industry chain (CNC machine tools, construction machinery, electrical machinery, 3C automation, industrial robots, lasers, industrial control, drones), food, beverages and pharmaceuticals, medical equipment, agriculture, etc.

For more information, please contact the following e-mail address:

Email: global@qyresearch.com

Website: https://www.qyresearch.com

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Hearing Aids Market Future Trends: Key Insights and Projections

Hearing Aids Market Outlook, Scope & Overview:

Industry reports indicate that the global hearing aids market was valued at USD 10.88 billion in 2023 and is projected to reach USD 20.87 billion by 2031, growing at a CAGR of 8.5% over the forecast period 2024-2031.

Technological Advancements to Drive Growth of Global Hearing Aids Market

The adoption of advanced hearing aids will continue to influence global market revenues. Innovations in hearing aid technology, including digital signal processing, Bluetooth connectivity, and rechargeable batteries, are enhancing user experience and driving market growth.

As a product segment, behind-the-ear (BTE) hearing aids currently hold a significant share of the global hearing aids market. This segment is anticipated to grow at a year-over-year rate of 8.5% in 2024 over 2023 and reach USD 20.87 billion in revenues by 2031. The increasing prevalence of hearing loss, especially among the aging population, coupled with advancements in hearing aid design and functionality, is expected to drive market growth.

Hearing Aids Market – Market Dynamics

Drivers:

The hearing aids market is witnessing significant growth in the global market due to the rising prevalence of hearing impairment, growing awareness about hearing health, and the increasing adoption of advanced hearing aid technologies. The growing aging population, particularly in developed regions, is a key factor driving the demand for hearing aids. Additionally, the introduction of innovative hearing aids with improved sound quality, connectivity features, and user-friendly designs is further propelling market growth.

Restraints:

Despite the growth potential, challenges such as high costs associated with advanced hearing aids, limited access to hearing care services in low-income regions, and the stigma associated with wearing hearing aids are hindering the widespread adoption of hearing aids. Moreover, the lack of awareness about the benefits of hearing aids and the need for regular maintenance and adjustments pose additional challenges to market expansion.

Hearing Aids Market – Market Outlook

The proven benefits of hearing aids in improving the quality of life for individuals with hearing loss have contributed to the market's growth. Hearing aids are expected to witness increased adoption across major healthcare markets, including North America, Europe, and Asia Pacific, driven by advancements in hearing aid technology and the growing focus on hearing health.

Global Hearing Aids Market

The rise in demand for hearing aids in developed and emerging markets is expected to drive market growth over the forecast period. North America currently holds a significant market share in the global hearing aids market, with the US being a key contributor to market revenues. Europe and Asia Pacific regions are also experiencing rapid adoption of hearing aids, supported by increasing healthcare expenditures, growing awareness about hearing loss, and the availability of advanced hearing aid solutions.

Key Players in the Hearing Aids Market

Leading companies in the hearing aids market include Sonova Holding AG, William Demant Holding A/S, GN Store Nord A/S, and Cochlear Limited. These companies are at the forefront of developing and commercializing advanced hearing aid technologies for various types of hearing loss, including digital, implantable, and custom-fit hearing aids.

In conclusion, the global hearing aids market is poised for substantial growth over the forecast period, driven by technological advancements, increasing awareness about hearing health, and the expanding adoption of advanced hearing aid solutions across diverse healthcare settings.

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