According to WHO, hearing loss affects around 5% of the world population, out of which 328 million are adults and 32 million are children. This number is set to rise dramatically in the coming years. Earlier, hearing aids were used as a preferred treatment option for hearing loss. However, some patients do not benefit from the use of hearing aids. For such people, another alternative is available in the form of hearing implants. Hearing implant is a small complex hearing device that can help to provide a sense of sound to a person who is profoundly deaf or severely hard of hearing.
According to the report Global Hearing Implants Market Outlook 2020”, the hearing implants market is anticipated to reach US$ 2.9 Billion by 2020. The report provides a detailed analysis of the market of these devices. The report also provides the current and forecasted market for hearing implants. The segmentation of hearing implants market has been done in the report on the basis of type of product, end users and geographical regions. On the basis of product type, the market has been segmented into cochlear implants, bone anchored implants, and others. Currently, the cochlear implants occupy the largest share in the global hearing implants market, and it is poised to maintain its position in the coming years. Based on the type of end user, the market is sub-divided into adults and children. Children use more of these implants as compared to adults.
On the basis of geography, North America accounts for the largest share of the hearing implants market. This high share was attributed to colossal patient pool, large number of commercially available implants for the treatment of various forms of hearing loss, favourable healthcare insurance coverage, and impressive healthcare systems customized for this sector. However, the Asia Pacific market is poised to witness the highest growth in the coming years owing to improving healthcare facilities in the region coupled with rising patient pool. In addition, the report also provides insight about the major drivers and challenges, latest trends and developments, and strategic collaborations impacting the industry growth.
The later part of the report discusses some of the prominent players in the global hearing implants market. The market share analysis of these players is also provided in the report. Furthermore, a brief business overview of each player has been provided along with their business segments, product portfolios and recent developments. Moreover, analysis of their strengths and weaknesses has also been done. Overall, the report will prove as a complete source of knowledge and analysis for clients and potential investors.