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Hearing Implants: Global Market Outlook
Report Scope:. In this report, the market has been segmented based on by product, patient type, type of hearing loss, and geographic region.The report provides an overview of the global hearing implant market and analyzes market trends.
New York, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hearing Implants: Global Market Outlook" - https://www.reportlinker.com/p06421204/?utm_source=GNW
Using 2021 as the base year, the report provides estimated market data for the forecast period of 2022-2027.Revenue forecasts for this period are segmented based on product, patient type, type of hearing loss and region.
Market values have been estimated based on the total revenues of hearing implant solution providers.
The study includes hearing implants which Hearing aids have been excluded from the study. Hearing aids work on mechanism of sound amplification whereas hearing implants work by bypassing damaged portions of the ear to deliver sound signals to the hearing (auditory) nerve or brainstem; or by vibration through bone.
Report Includes:
- A brief general outlook of the global market for hearing implants
- Analyses of the global market trends, with historic market revenue (sales figures) from 2020-2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
- Highlights of the upcoming market potential for hearing implant devices, along with a detailed analysis of the competitive environment, regulatory scenario, and technological advancements
- Estimation of the actual market size and revenue forecast for hearing implant market in USD million values, and corresponding market share analysis based on type of hearing loss, patient type, and region
- In-depth information (facts and figures) covering major market drivers, opportunities and challenges estimating the demand, industry trends and regulations, and other macroeconomic factors affecting progress of the hearing implants industry
- Holistic review of the impact of COVID-19 pandemic on hearing implant market
- Company profiles of the key market players with detailed information about their business segments, financials, product portfolios, and recent developments
Summary:
Hearing implants are mainly recommended for people with severe or profound hearing loss who have not benefitted adequately from the sound amplification of hearing aids.These are individuals with special types of conductive hearing loss, people with a damaged or non-existent auditory nerve, or those who are unable to wear hearing aids due to some other reason.
There is no upper age limit for the implantation of hearing implants, although some preliminary evaluations are required for older adults. Hearing implants can be used for bilateral and unilateral hearing loss.
The global market for hearing implants was estimated at $REDACTED in 2021 and is projected to grow at a CAGR of REDACTED% to reach $REDACTED by the end of 2027, up from $REDACTED in 2022.The increasing prevalence of hearing loss, increasing exposure to noise, and technological advances in products and surgical procedures are the leading growth trends.
However, the high cost of hearing implant surgery limits the market. The shortage of trained professionals is the major challenge facing the market.
In this report, the global market for hearing implants is segmented based on product, patient type, type of hearing loss and geographical region.The hearing implant market by product is categorized into four types of implants: cochlear, bone conduction, middle ear and auditory brainstem.
Cochlear implants are the most popular, in both pediatric and adult populations, and their market was valued at $REDACTED in 2021.
The hearing implant market is segmented into two types of hearing loss: sensorineural and conductive.Sensorineural is the more widespread type of hearing loss.
The hearing implant market is also segmented into pediatric and adult patients. The adult population is at greater risk of developing hearing loss.
The hearing implant market is segmented by geographical region into North America, Europe, Asia-Pacific and rest of the world (RoW).North America accounts for REDACTED% of the global market, and its share in 2021 reached $REDACTED.
The strong presence of leading companies, the high prevalence of hearing loss, technological advances, and favorable government policies drive the North American market.Asia-Pacific is currently the fastest-growing regional market for hearing implants.
It is projected to grow at a CAGR of REDACTED% to reach $REDACTED by the end of 2027, up from $REDACTED in 2021 and $REDACTED in 2022.
Read the full report: https://www.reportlinker.com/p06421204/?utm_source=GNW
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