According to a new report, published by KBV research, The Global Bionic Ear Market size is expected to reach $3.5 billion by 2029, rising at a market growth of 7.9% CAGR during the forecast period.
The Hospitals segment is leading the Global Bionic Ear Market by End-use in 2022 thereby, achieving a market value of $1.7 Billion by 2029. Favorable health reimbursement laws and the large number of operations performed in hospitals are important contributing factors to the segment's leading market position. In addition, hospitals have experienced surgeons who are able to perform sophisticated cochlear, BAHA, as well as auditory brainstem implantations.
The Auditory Brainstem Implants segment is showcasing a CAGR of 8.2% during (2023 - 2029). Due to the rising incidence of neurofibromatosis type 2, the demand for auditory brainstem implants is anticipated to expand. As a result, auditory brainstem implant (ABI) technologies and electrode layouts have changed significantly during the past few years. ABI was originally created for Neurofibromatosis type 2 (NF2) patients, but recent studies show that it also has the potential to deliver hearing in children and individuals without tumors.
The Europe segment dominated the Global Bionic Ear Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $1.2 Billion by 2029. The North America market is expected to witness a CAGR of 7.5% during (2023 - 2029). Additionally, The Asia Pacific market is expected to witness a CAGR of 8.7% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/bionic-ear-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Cochlear Ltd., MED-EL GmbH, Sonova Holding AG, Zhejiang Uniview Technologies Co., Ltd. (Hangzhou Jiaozhi Technology Co., Ltd.), Boston Scientific Corporation, Medtronic PLC, Amplifon S.P.A., Starkey laboratories, Inc., GN Store Nord A/S (GN Hearing A/S), and WS Audiology A/S
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