Binaural Cochlear Implant Market– Regional Analysis
On the basis of region, theglobal BinauralCochlear Implant Market is segmented into North America, Latin America,Europe, Asia Pacific, Middle East, and Africa.
Binaural hearing helps inlocating the sound source and in speech recognition in patients with impairedhearing. Cochlear implants are used in children and adults with sensorineuralhearing loss, a condition that involves damage to tiny hair cells present inthe cochlea region of ear. A cochlear implant helps the signal to skip damagedtiny hair cells and directly reach the auditory nerves.
Binaural Cochlear Implant Market– Drivers
Recent technological advancementin binaural cochlear implant surgeries such as 3D printed implants is expectedto boost growth of the market. For instance, according to an article publishedin BioMed Research International 2018, are focusing on using 3D printingtechnology in developing patient specific implants of biocompatible materialsto treat anatomical defects with use of stem cells. Stems cells are allowed togrow on the biocompatible materials to develop into ear bones, which can beused further as implants to replace damaged ones.
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Furthermore, various organizationinitiatives in spreading awareness of deafness and hearing loss is expected toboost growth of the binaural cochlear implant market. For instance, in July2017, World Health Organization (WHO) organized meeting for its program —Prevention of Deafness and Hearing Loss. The meet concluded with the importanceof global alliance and world report for action on hearing loss. ‘Education forAll’, ‘Data for Hearing Loss’, the ‘World Health Assembly Resolution’ and theproposed ‘World Report on Hearing’ were the agendas for the meeting.
Binaural Cochlear Implant Market– Restraint
Adverse effects associated withbinaural cochlear implants such as vertigo, loss of postural balance,meningitis, and nerve damage have reduced patient compliance. This in turn isexpected to hamper growth of the binaural cochlear implant market. For instance,according to an article published in The Scientific Electronic Library Online(SciELO), February 2018, vertigo or imbalance of body posture occurs in around75% patients with cochlear implant surgery.
North America is expected to holddominant position in the global binaural cochlear implant market over theforecast period, owing to increasing prevalence of hearing loss in thepopulace. For instance, according to a report published by the Hearing LossAssociation of America, 2017, around 48 million people reported some degree ofhearing loss in U.S. in 2017. Furthermore, according to The Hearing Review, inJanuary 2018, 3.65 million hearing aid units were dispensed in the U.S. in2017.
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Additionally, Asia Pacific isexpected to witness significant growth in the market, owing to expansion strategiesof key players and increasing prevalence of hearing loss in the region. Forinstance, in May 2018, Cochlear ltd., Australia based cochlear implantmanufacturer has expanded its first manufacturing facility in China throughcollaboration with Apple Inc., for creating technology that streams sounddirect from iPhones to enhance users’ hearing capabilities
Key players operating in thebinaural cochlear implant market include, Advanced Bionics AG and affiliates,Cochlear Ltd., MED-EL, William Demant Holding A/S, Oticon, Hangzhou NurotronBiotechnology Co Ltd., and Shanghai Medical Technology Co., Ltd.
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