The worldwide cochlear implant systems market is anticipated to attain huge market volumes by 2022. Prevalence of hearing disorders is anticipated to drive the market over the forecast period (2012 to 2022). Cochlear implant (CI) systems are suited for consumers with severe to profound hearing disorders. These devices help them in their upbringing and support them in leading normal lives. Unilateral and binaural are two major types of CI systems. Adults are pediatrics are the major end users of these devices.
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Introduction of advanced technologies is the primary focus of many manufacturers of cochlear implant systems. Recently, a research team consisting of physicians from the Massachusetts Eye and Ear/Harvard Medical School and Harvard Medical School and the Massachusetts Institute of Technology (MIT) has developed an internal cochlear implant that can end the dependence on external devices. This device can aid in reducing social stigma and other hurdles faced by deaf consumers.
Companies like MED-EL have focused on making the device compatible with imaging devices. SYNCHRONY, a device developed by the company, is magnetic resonance imaging (MRI) -conditional and may not impose a problem during MRI scans. Recently, Cochlear Limited launched implants that are compatible with the latest iPhones. This development allows consumers to stream music directly via the implant without the help of any additional device.
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The global cochlear implant systems market is expected to expand at a steady CAGR over the forecast period on account of hearing maladies visible among pediatrics and geriatrics. Favorable medical reimbursement schemes, rising awareness, and adoption of hearing aids are the factors influencing global market growth. In addition, government policies supporting implantation procedures and neonatal screening tests are anticipated to positively impact the market in near future. Customization of these devices is also expected to play a major role in market revenue.
Key market players include The William Demant Holding Group, Sonova Holding AG, Cochlear Limited, and MED-EL.
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