Monday, March, 18, 2019 06:34:24

Global Cochlear Implant Systems Market is set to exceed USD 2.5 billion by 2024; according to a new research study published by Global Market Insights, Inc. Increasing incidence of hearing loss in infants and adults will drive industry growth during the forecast period. An increasing number of elderly individuals are suffering from severe and profound sensorineural hearing loss owing to age related changes in the inner and middle ear. Hearing loss is a significant cause of disability and morbidity in the elderly population. Cochlear implants help adults to regain their hearing and fully participate in day to day activities.

Technological advancements resulting in improved device performance especially in noisy environments will spur adoption rate. Progress in external component technology is leading to miniaturization of devices and increased efficiency of externally worn speech processors. Manufacturers are developing hybrid systems which provide high frequency electrical stimulation and low frequency acoustic amplification. For instance, in March 2014, Cochlear launched its Nucleus hybrid implant system that amplifies low-frequency hearing and restores access to high-frequency hearing.

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Unilateral implant industry segment held considerable industry share in 2016. Typically, individuals prefer unilateral implants owing to high costs of bilateral implantation and added surgery risks. Bilateral implant industry segment is slated to exhibit lucrative growth during the forecast years owing to increasing in number of individuals opting for implants in both ears. Bilateral implants provide additional speech perception and localization benefits to patients. However, the additional cost on the second implant restrains adoption.

Adult business segment is poised to grow at a robust rate during the forecast timeframe. Increasing elderly population pool prone to age related hearing loss will drive segment growth. Adults often benefit immediately from the implantation procedure and continue to show improvements for about three months after the initial tuning sessions. Pediatric business segment held significant industry share in 2016. The segment is slated to witness lucrative growth over the forecast years owing to the implementation of new born hearing screening programs in several countries enabling the identification of profound hearing loss among infants.

U.S. cochlear implant systems market held significant industry share in 2016. New born hearing screening programs have been implemented in all the states of the country resulting in the screening of almost each new born infant. Presence of high screening rates coupled with access to advanced healthcare infrastructure and skilled medical professionals such as
ENT specialists, audiologists and cochlear implant surgeons will stimulate demand during the forecast years. Availability of latest technologically advanced devices will further augment adoption rate.

Japan cochlear implant systems market is slated to grow at a rapid pace over the forecast timeframe owing to increasing number of older adults suffering from deafness. Presence of healthcare system providing universal coverage for all aspects of cochlear implantation such as diagnosis, surgery and habilitation aftercare will further augment demand.

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Cochlear Implant Systems Market by Product

Unilateral Implant
Bilateral Implant

Cochlear Implant Systems Market by End User

Adult
Pediatric