Binaural Cochlear Implant Market
– Regional Analysis
On the basis of region, the
global Binaural
Cochlear Implant Market is segmented into North America, Latin America,
Europe, Asia Pacific, Middle East, and Africa.
Binaural hearing helps in
locating the sound source and in speech recognition in patients with impaired
hearing. Cochlear implants are used in children and adults with sensorineural
hearing loss, a condition that involves damage to tiny hair cells present in
the cochlea region of ear. A cochlear implant helps the signal to skip damaged
tiny hair cells and directly reach the auditory nerves.
Binaural Cochlear Implant Market
– Drivers
Recent technological advancement
in binaural cochlear implant surgeries such as 3D printed implants is expected
to boost growth of the market. For instance, according to an article published
in BioMed Research International 2018, are focusing on using 3D printing
technology in developing patient specific implants of biocompatible materials
to treat anatomical defects with use of stem cells. Stems cells are allowed to
grow on the biocompatible materials to develop into ear bones, which can be
used further as implants to replace damaged ones.
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Furthermore, various organization
initiatives in spreading awareness of deafness and hearing loss is expected to
boost growth of the binaural cochlear implant market. For instance, in July
2017, World Health Organization (WHO) organized meeting for its program —
Prevention of Deafness and Hearing Loss. The meet concluded with the importance
of global alliance and world report for action on hearing loss. ‘Education for
All’, ‘Data for Hearing Loss’, the ‘World Health Assembly Resolution’ and the
proposed ‘World Report on Hearing’ were the agendas for the meeting.
Binaural Cochlear Implant Market
– Restraint
Adverse effects associated with
binaural cochlear implants such as vertigo, loss of postural balance,
meningitis, and nerve damage have reduced patient compliance. This in turn is
expected 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 around
75% patients with cochlear implant surgery.
North America is expected to hold
dominant position in the global binaural cochlear implant market over the
forecast period, owing to increasing prevalence of hearing loss in the
populace. For instance, according to a report published by the Hearing Loss
Association of America, 2017, around 48 million people reported some degree of
hearing loss in U.S. in 2017. Furthermore, according to The Hearing Review, in
January 2018, 3.65 million hearing aid units were dispensed in the U.S. in
2017.
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Additionally, Asia Pacific is
expected to witness significant growth in the market, owing to expansion strategies
of key players and increasing prevalence of hearing loss in the region. For
instance, in May 2018, Cochlear ltd., Australia based cochlear implant
manufacturer has expanded its first manufacturing facility in China through
collaboration with Apple Inc., for creating technology that streams sound
direct from iPhones to enhance users’ hearing capabilities
Key players operating in the
binaural cochlear implant market include, Advanced Bionics AG and affiliates,
Cochlear Ltd., MED-EL, William Demant Holding A/S, Oticon, Hangzhou Nurotron
Biotechnology Co Ltd., and Shanghai Medical Technology Co., Ltd.
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