North America Cochlear Implants Market By Fitting Type (Unilateral Implantation and Bilateral Implantation) By End Use (Pediatrics and Adults)
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The North America Cochlear Implants Market would witness market growth of 9.8% CAGR during the forecast period (2019-2025). The North America Cochlear Implants market is studied across the U.S., Canada, and Mexico. The US market dominated the North America Cochlear Implants Market by Country 2018, thereby, achieving a market value of $505.2 million by 2025, growing at a CAGR of 9.3 % during the forecast period. The Canada market is expected to witness a CAGR of 10.1% during (2019 - 2025). Additionally, The Mexico market is expected to witness a CAGR of 12.3% during (2019 - 2025).
Cochlear implants are becoming the method of preference in both children and adults to treat extreme-to-profound hearing loss. Its advantages in the pediatric and older population are well established. This therapy also addressed deaf children with special needs, including autism. Oral communication in children with cochlear implants and autism is unlikely to be a realistic goal. The results of the implantation showed advantages that differed among these children. In autistic children, traditional techniques for assessing the results of cochlear implantation are generally inadequate to fully evaluate the behavioral advantages.
During the forecast period, the cochlear implants market is expected to experience exponential growth, which can be ascribed to a favorable reimbursement scenario, increased awareness of hearing aids, and greater implant implementation.
The bilateral implantation is anticipated to experience the fastest development. This is ascribed to its cost-effectiveness when implanted in children, the capacity to acknowledge speech in noise, and increased cases of meningitis. Moreover, only after bilateral implantation, several nations give reimbursement. All of these variables can, therefore, assist to increase the supply for devices and thus increase the industry's growth.
The major strategies followed by the market participants are Product launches and Partnerships & Collaborations. Based on the Analysis presented in the Cardinal matrix, Sonova Holding AG and Medtronic PLC are some of the forerunners in the Cochlear Implants Market. Medtronic acquired Sophono in order to enhance its ENT procedures by developing hearing devices. Sonova opened a new training center in Germany in order to provide training program for hearing care professionals. Sonova released Belong comprises of pioneering lithium-ion rechargeable battery technology in hearing aids.
Based on Fitting Type, the market is segmented into Unilateral Implantation and Bilateral Implantation. Based on End Use, the market is segmented into Pediatrics and Adults. Based on Regions, the market is segmented into USA, Canada, Mexico and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MED-EL GmbH, Sonova Holding AG, William Demant Holding A/S, Starkey laboratories Inc., GN Store Nord A/S (GN Hearing A/S), Amplifon SpA (Ampliter N.V.), Widex A/S, Oticon Medical AB, Cochlear Ltd., Medtronic PLC.
Scope of the Cochlear Implants Market Analysis
By Fitting Type
- Unilateral Implantation
- Bilateral Implantation
By End Use
- Rest of North America
- MED-EL GmbH
- Sonova Holding AG
- William Demant Holding A/S
- Starkey laboratories, Inc.
- GN Store Nord A/S (GN Hearing A/S)
- Amplifon SpA (Ampliter N.V.)
- Widex A/S
- Oticon Medical AB
- Cochlear Ltd.
- Medtronic PLC
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