Scope of the Cochlear Implants Market Report As a result, the cancellation of elective surgeries in hospitals during a pandemic situation to prevent disease transmission among patients, as the majority of people receiving cochlear implants are elderly, had an impact on the cochlear implants market. Inside the ear, cochlear implants are surgically implanted. Because of the increase in COVID-19 cases, governments around the world implemented various safety measures such as lockdown and stringent guidelines, disrupting the international supply chain of cochlear implants. However, certain factors, such as the devices' stringent regulatory approval process and the high cost of implants and surgical procedures, will likely to stymie the cochlear implants market growth.Īdditionally, the unprecedented COVID-19 pandemic has slowed the cochlear implants market growth. The global cochlear implants market is expected to grow significantly as a result of increased approval of various cochlear implants, integration of advanced technology into existing products, and an increase in several initiatives undertaken by the government and various organizations to support research in the field of cochlear implantation, among other factors. To know more about why Europe is leading the market growth in the cochlear implants market, get a snapshot of the Cochlear Implants Market Share
Furthermore, strategic business activities by leading cochlear implant manufacturing companies to maintain their market position in the cochlear implant market are expected to drive the hearing implant market. This dominance is due to the region's growing cases of hearing loss. Europe currently leads the global cochlear implants market in terms of revenue share and is expected to maintain that position throughout the study period. The global cochlear implants market is studied geographically in North America, Europe, Asia-Pacific, and the Rest of the World. To read more about the latest highlights related to the cochlear hearing implant market, get a snapshot of the key highlights entailed in the Global Cochlear Implants Market Report Thus, owing to such developments in the market, there will be rapid growth observed in the cochlear implants market during the forecast period.
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The approved products are Kanso® 2 Sound Processor, Nucleus® 7 Sound Processor for Nucleus 22 Implant recipients, and Custom Sound® Pro fitting software. In July 2020, Cochlear received FDA approval for three new products in its arena of hearing technology solutions.
In June 2021, Oticon received FDA pre-market approval (PMA) for its Neuro Cochlear implant system indicated to treat severe to profound sensorineural hearing loss. Notable cochlear implants companies such as MED-EL Medical Electronics., Sonova, Demant A/S, Cochlear Limited, Envoy Medical., Ototronix, TODOC Co., Ltd., and several others are currently operating in the cochlear implants market. Key Takeaways from the Cochlear Implants Market ReportĪs per DelveInsight estimates, Europe is anticipated to dominate the global cochlear implants market during the forecast period. 31, 2022 (GLOBE NEWSWIRE) - The Global Cochlear Implants Market to Grow Positively at a CAGR of 9.92% by 2027 | DelveInsightĭelveInsight's Cochlear Implants Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies’ market shares, challenges, cochlear implants market drivers, barriers, and trends, and key Cochlear Implants companies in the market. The cochlear implants market is expected to boost due to the rise in the prevalence of hearing loss, and the rising burden of the senior population who are more susceptible to developing hearing impairments.
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