Cochlear Implants Market Overview
Cochlear Implants Market Research Report - Global Forecast till 2023 Cochlear Implants (CI) are devices used to assist persons with mild to severe hearing loss. The implants have been instrumental in providing relief to the hearing impaired globally. The miniaturization of these devices and its compact size has prevented such individuals from being social outcasts. According to the Centers for Disease Control and Prevention (CDC), nearly 900 million can suffer from hearing disorders by 2025. The integration of the latest technologies such as Wi-Fi and Bluetooth have made it possible for these individuals to enjoy a normal life.
Market Outlook
The Global Cochlear Implants Industry Size can touch USD 3203.8 Million by 2023, as per a new report by Market Research Future (MRFR). Increasing prevalence of ear infections and prelingual hearing disorders is expected to drive market demand. Rise in launch of various products and approvals by regulatory agencies are likely to propel the market to expand at a 9.86% CAGR from 2017 to 2023 (forecast period).
The efforts by manufacturers to make these products as aesthetically appealing as possible to prevent discouragement among patients can fuel the market growth. Technological advances in Cis and the sharp rise noticed in the numbers of the geriatric populace is predicted to bolster the market demand over the forecast period.
Competition
Prominent players in the cochlear implants market include Advanced Bionics AG, GAES MÉDICA, William Demant Holding Group, Microson S.A., MED-El, Cochlear Ltd., and Widex. Players are increasing their product offerings by investing in research and developments. For instance, Cochlear can register high revenues by 2019 owing to catering to more than 550,000 patients. Investments in connected health platforms and additional facilities to serve patients can bode well for the company.
Cochlear Implants Market information: by Product (Cochlear Implant Systems and Accessories & Upgrades), by Type (Unilaterals Implant and Bilateral Implants), End Users (Hospitals & Clinics, Ambulatory Centers, Research & Academic Institutes)- Global Forecast till 2023 : https://www.marketresearchfuture.com/reports/cochlear-implants-market-5256
Comments