Market Research and Consulting CompanyHybrid Cochlear Implant Report by Material, Application, and Geography - Global Forecast to 2022 is a professional and in-depth research report on the world's major regional market conditions, focusing on the main regions and the main countries.
According to a report available on Radiant Insights, Inc.; the hybrid cochlear implant market is projected to exhibit momentous growth by 2022.Factors such as favorable government initiatives and reimbursement policies, increasing elderly population, growing awareness about hearing aids, and increasing adoption can propel the market over the projected period (2018 to 2022).
Increasing occurrence of neonates born with hearing defects is anticipated to drive the market for hybrid cochlear implant market in near future.
According to World Health Organization (WHO), one to three out of every 1000newborns suffers from hearing loss. High adoption of cochlear implants for their treatment is expected to boost the global market over the forecast period. Rising prevalence of adult hearing loss and rapid technological advancements are also expected to positively impact the market.
The report “Global Hybrid Cochlear Implant Market Research Report 2018” is available now at https://www.radiantinsights.com/research/global-hybrid-cochlear-implant-market-research-report-2018
The streamline design of a hybrid cochlear implant electrode is also called as the hybrid electrode array. It offers a smooth, less harmful insertion into the cochlea, which keeps the low-frequency hearing nerve cells. Thus, patient going through cochlear implant can receive residual hearing capacity. In addition, rechargeable cochlear implant devices are in high demand as they are small in size, easy to use, and eco-friendly. The quality and battery life of these devices is improved than the ones using primary cells. Such advancements are projected to create traction for the global market in near future.
The worldwide hybrid cochlear implant market can be segmented on the basis of end-user, and regions. Based on end-use, the market can be bifurcated into pediatrics and adults. Geographically, the market can be segmented into North America, Europe, and Asia Pacific. The Europe is expected to continue dominating the global market over the forecast period. This growth can be attributed to presence of a large number of patients in the region. Presence of favorable healthcare infrastructure in the European Union (EU) that permits implantation of the hearing devices at an early age can also impel the market in near future.
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Asia Pacific is likely to showcase rapid growth during the forecast period. This growth can be accredited to increasing rising awareness among the consumers, increasing disposable income, and existence of key players. Growing government support and favorable reimbursement facilities may further impel the regional growth. Increasing elderly population, ear infection due to lack of hygiene among the people is also driving demand for cochlear implant in the region. Countries such as Australia, New Zealand, China, Japan, Singapore, and India are driving growth for the market.
Prominent players operating in the hybrid cochlear implant market include Nurotron Biotechnology Co. Ltd., William Demant Holding A/S; Cochlear Ltd., and Nurotron Biotechnology Co. Ltd. Most market competitors are focusing on innovation and upgrades in existing products to make them more efficient. Geographical expansion is also one the chief business strategies adopted by the top participants in the market. Market participants are also focusing on the development of devices with waterproof, reduced noise, long battery life, and quick charge. According to the WHO the existing manufacturing of hearing loss aids is only 10% of the actual need. Hence, there is a potential opportunity for new companies to venture into the market.
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Recently, Cochlear Limited, a provider of implantable hearing solutions introduced a new product Cochlear Nucleus 7 Sound Processor. The product has received approval from the U.S. Food and Drug Administration (FDA) . The product is compatible with smart. So, the people with cochlear nucleus implant can be able to stream sound with this device.
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