Hearing Implants and Biomaterials Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC533

Introduction

Hearing implants are medical devices which are surgically placed in order to treat the damaged parts of the inner ear, and hence provide sound signals to the brain. The market for hearing implants and biomaterials is expected to foresee significant growth due to advancement of various hearing implant materials such as polymers and ceramics. In addition, growing awareness of population towards the benefits of hearing surgeries would also drive the growth of market during the forecast period.

Market Dynamics

The market for hearing implants and biomaterials is expected to witness significant growth in the coming years. According to the Department of Neurological Surgery at University of California, San Francisco, over 80,000 people globally have cochlear implants, out of which, approximately 25,000 people are from United States. The organization also estimated that the demand for hearing implants is increasing annually by approximately 20%.

In addition, growing opportunities across Asia-Pacific market; as well as emergence of need for technologically advanced hearing implants are few major opportunities for the global market. The high-unmet medical needs pertaining to the hearing losses, coupled with constantly improving healthcare expenditure in the region are some key factors attributing to the market growth in developing countries of Asia-Pacific region.

Market Classification and Overview

The hearing implants and biomaterials market is segmented on the basis of type, material and geography. The various types of hearing implants include middle ear implant, cochlear implant, electro-acoustic stimulation implant, and auditory brainstem implant. Cochlear implants are widely used for treatment of hearing loss. It helps in directly stimulating the auditory nerve, and thereby improves hearing in people with severe or profound hearing losses.

Based on material, the hearing implants and biomaterials market is categorized into silicone, platinum, titanium, and ceramics. Silicone material ocuupied the largest share in the global market due to its fair biostability, and flexibility. Furthermore, silicone material has proved to be superior than other materials in terms of acceptability, hearing improvement, and patient satisfaction.

Regional Overview

Regionally, the market for hearing implants and biomaterials is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). North America is dominating the global market specifically due to growing aging population and high prevalence of hearing loss in this region. However, Asia-Pacific is expected to grow at the fastest CAGR. Factors such as increasing application of hearing implants for surgeries and development of novel and technologically advanced materials for implants is contributing towards the growth of market in Asia-Pacific.

Report Coverage

Market

Hearing Implants and Biomaterials Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Type, Material, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

Market Participants

Med-EL Maestro, Nurotron Biotechnology Co., Ltd., Advanced Bionics AG, William Demant, and Cochlear Ltd. are the key players in the hearing implants and biomaterials market. These players have undertaken mergers and acquisitions as one of their key strategies in order to maximize their share in the global market.

Market Segmentation

Market By Type

·         Middle Ear Implant

·         Cochlear Implant

·         Electro-Acoustic Stimulation Implant

·         Auditory Brainstem Implant

Market By Material

·         Silicone

·         Platinum

·         Titanium

·         Ceramics

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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