Demand for Hearing Implants Market Set for Stupendous Growth in and Post 2020, Buoyed by the Global COVID-19 Pandemic
This Future Market Insights report examines the ‘Hearing Implants Market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment, 2018 – 2028’. The primary objective of the report is to offer updates and insights regarding various market opportunities in the global hearing implant market.
Hearing implants are electronic prosthetic devices used to treat hearing loss and deafness. The hearing loss can be of two types sensorineural and conductive hearing loss. There are four types of hearing implants to treat hearing loss, i.e., the cochlear implant, middle ear implant, bone conduction implant and auditory brainstem implant. Hearing Implants are used in the patients in the cases where the hearing aids don’t work. The hearing implants are complex structures which are fitted by surgical procedures. The hearing implants consist of two parts, an external portion and the implant which is surgically placed under the skin. The hearing implants provides sound to the patients suffering from profound hearing loss. Different types of implants are used for different kinds of defects. The hearing implants are substitutes that directly stimulates the auditory nerve. Patients with cochlear defects use the cochlear implants. Due to the technological advancement in implants bone conduction hearing aids are replaced with the Bone conduction system devices. Middle ear implants directly stimulate the middle ear as they are electronic devices that convert the sound into mechanical vibrations. However an auditory brainstem implant is used when the hearing nerve is absent or damaged. Auditory brainstem implant brings the sound signals directly to the brainstem by bypassing the nerve of hearing. It is a substitute for the patients who are suffering from profound hearing loss and are using hearing aids. Moreover reimbursements are present for the patients opting for hearing implants. The reimbursements and the insurance coverage may vary for different regions and for different providers but there can be chance that some insurance providers may offer 100% insurance while some may provide 50%.
To provide an accurate understanding and to assess the opportunities in this market, the hearing implant market is categorically split under three sections, namely market analysis by product type, end user and regions. The report analyses the global hearing implants market in terms of market value (US$ Mn) and volume.
The report starts with an overview of hearing implants and its usage in regions across the globe. In the same section, FMI covers the hearing implants performance in terms of revenue. This section includes, FMI analysis of key trends, drivers and restraints from supply-side and demand-side perspective.
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The next section of the hearing implants report analyses the global hearing implants market based on product type and presents the forecast in terms of value for the next 10 years. The product types covered in the report include:
- Cochlear Implants
- Middle Ear Implants
- Bone conduction Implants
- Auditory brainstem implant
The next section of the report analyses the global hearing implant market based on end users and presents the forecast in terms value for the next 10 years. The end users covered in the report include:
- ENT clinics
- Ambulatory Surgical Centres
The next section of the report analyses the global hearing implants market based on regions and presents the forecast in terms of value for the next 10 years. The regions covered in the report include:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding China and Japan (APECJ)
- Middle East & Africa (MEA)
To arrive at market size, the report considers company share analysis for the majority of the companies, which includes approximatly 60% share from the geographies. The forecast presented here assesses the total revenue of the hearing implant market. Given the characteristics of the market, we have triangulated the outcome based on different analysis such as supply side, demand side and GDP growth rate. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities, rather than rationalizing them after the forecast has been completed.
In addition, we have taken into consideration year-on-year growth to understand the predictability of the market and to identify the right opportunities across the market.
As previously highlighted, the market for hearing implants is split into various sub-segments based on region, product type and end user. All these sub-segments or categories have been analysed to understand individual segments’ relative contribution to the growth. This detailed level of information is important for identification of the many key trends in the hearing implant market.
Also, another key feature of this report is the analysis of hearing implants by regions, product type and end users. The revenue forecast in terms of absolute dollar value is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective.
Furthermore, Future Market Insights has developed market attractiveness index for all three segments – regional, product type and by end user segments. This index helps in identifying the real opportunities available in the market.
In the final section of the report, the hearing implants market landscape is included to provide report audiences with a dashboard view, based on categories of providers across the market, presence in hearing implant product portfolio and key differentiators.
Examples of some of the key players operating in the global hearing implants market include Cochlear Ltd., MED-EL, William Demant Holding A/S, Advanced Bionics AG, Nurotron Biotechnology Co. Ltd., Ototronix , Envoy Medical Corporation and Medtronic.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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