Hearing Implants Global Market Report 2022

Hearing Implants Global Market Report 2022

  • May 2022 •
  • Report ID: 6277214 •
  • Format: PDF
Major players in the hearing implants devices and equipment market are Sonova (Switzerland), Advanced Bionics AG (Switzerland), Siemens AG, William Demant Holding Group (Denmark), Microson S.A. (Spain), RION, SeboTek Hearing Systems, Arphi Electronics, Widex A/S, and Audina Hearing Instruments.

The global hearing implants market is expected to grow from $2.9 billion in 2021 to $3.41 billion in 2022 at a compound annual growth rate (CAGR) of 17.6%. The market is expected to grow to $5.69 billion in 2026 at a compound annual growth rate (CAGR) of 13.6%.

The hearing implants devices and equipment market consist of sales of hearing implants. Hearing implants are surgically installed devices aimed to improve the hearing of a person suffering from severe or profound levels of hearing loss.

The main types of hearing implants devices and equipment are cochlear implants, middle ear implants, bone conduction implants, and auditory brainstem implants.A cochlear implant is an electronic device that is partially restoring hearing.

It is an option for people who have severe hearing loss from inner-ear damage who are no longer helped by using hearing aids.These are used by age groups such as adults and pediatrics.

The various end-users are hospitals, ENT clinics, and ambulatory surgical centers.

North America was the largest region in the hearing implants devices and equipment market in 2021.Asia Pacific was the second-largest region in the hearing implants devices and equipment market.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The aging population is increasing worldwide and loss of hearing is one of the most common age-related disorders in the aged above 60 years.As reported by United Nations, in 2020, there are 727 million people aged 65 years in the world and with the increasing geriatric population, the demand for hearing implants is expected to rise.

Therefore, the increasing aging population is expected to drive the market for hearing implants in the future.

The surgical procedure for implanting hearing implants is associated with various risks and is expected to restraint the market growth in the future.During the surgery, there are possibilities of facial nerve damage which can lead to complete or partial paralysis on the same side of the face as the implant.

Due to this and other complications such as the development of meningitis, cerebrospinal fluid leakage, infection, and others, people prefer conventional hearing aids over implants. Hence, restraining the growth of the hearing implants market.

Companies in the hearing implants market are making implants using 3D printing in binaural cochlear surgeries.The technology focuses on developing customized 3D printed implants using biocompatible materials to treat anatomical defects with the help of stem cells.

Sonova manufactures binaural cochlear implants, which use two different modes of stimulation, electrical and acoustic to enhance hearing and better discrimination of speech. Further, in 2020, scientists developed a 3D-microscaffold cochlear implant using a 3D printed steroid reservoir was designed to reduce the damage of residual hearing against electrode insertion trauma.

Cochlear implant manufacturers have to submit information regarding the material used, efficacy based on clinical trials, any adverse effects to the FDA. The manufacturer can begin the sale of the implants in the USA only after receiving approval from the FDA.

The countries covered in the hearing implants devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.