Cochlear implant is an electronic device implanted inside ears of an individual with profound permanent deafness. This device works in place of damaged inner ear called cochlea and transfers impulse/electric signals to brain. Large percentages of population suffering from hearing loss have their hair cells inside the ear which enable hearing are damaged. This implant bypasses the normal hearing and enables the sound to be directly transferred to the hearing nerve. The cochlear implant is far better than the hearing aid as it assist the deaf person with nearly 80% of sentence understanding compared to 10% with hearing aid. Moreover, it is very less noisy and focuses better in noisy environment.
The report focuses on the prime factors driving and inhibiting the cochlear implant market. The major factors driving the growth of this market are the awareness of people towards healthcare and increasing number of patients with hearing loss due to rising noise pollution. Besides, the cost associated with the cochlear implant is the prime factor inhibiting the growth of this market. The cost for a cochlear implant in the U.S. ranges from $45,000 to $125,000 which is at quite higher side. Moreover, as Cochlear implant involves a surgery, the risk of its failure poses a great challenge to this market. The report also offers thorough analysis of the supply and demand side factors affecting the growth of cochlear market. The major current and future trends, product life cycle, product mapping and benchmarking, and the product pricing analysis in this market are provided under strategic in the report. Besides, the value chain analysis with exhaustive listing of players across the supply chain along with an analysis of suppliers & distributors captures important section in the report.
The report classifies the cochlear market on the basis of major components internal and external parts of the cochlear implant. The internal plant includes receiver/stimulator and an electrode array. These internal parts are inserted in cochlea of ear by surgical operation which receives sound, converts it in to electric signal and transfers it to brain. The external part is inclusive of a microphone, speech processor, and a transmitter. Microphone catches sound from environment, speech processor filters it and the transmitter transmit it to the receiver.
The report analyzes the
cochlear market in all major geographies of North America, Asia-Pacific, Latin America, and Europe along with Rest of the World (RoW). Due to high percentage of hearing disable population in the region and high rate of adaptability of cochlear implant, the North American region captures a lions share in this market. Besides, the growing aged population and increasing noise pollution in the Asia-Pacific region, the cochlear implant market is estimated to have high growth potential in near future. The report also tracks and analyzes the major countries with considerable share in this market.
The market competitiveness and the competition analysis of the key players in the market have been emphasized in detail in the report. Strategic benchmarking and developments of the key market leaders are also tracked and analyzed. This report offers analysis of the existing market players and the new entrants, with high importance on market strategies such as new product launches, mergers & acquisitions, partnerships, joint ventures, and collaborations. The report also provides current market scenario, key revenue pockets, and growth potential applications, along with the future prospects of the market. The key players profiling section includes the company overview, business financials, company competitors, products and services offered, and key developments in the field of cochlear implant market.
Sample Companies Profiled in this Report are:
- William Demant
- Nurotron Biotechnology