Cochlear Implants Market Continues to Grow with Cochlear Ltd. receiving the U.S. FDA approval for three new hearing devices

 

Cochlear Implants Market

A cochlear implant is a surgically implanted device to give an individual with mild to severe sensorineural deafness a modified sensory perception of sound. CI deafness bypasses the natural audible sound process to replace it by sending electric signals that directly reach the sensory nerve. The electrical signal is processed by the cochlea in the inner ear and then sent to the brain where it decodes and sends the desired sound or tone. In many cases, this device is used as a hearing aid with the purpose of improving a person's hearing. The demand for cochlear implants has increased steeply in the recent past. This is typically due to hearing impairment are rising geriatric population. As per the World Health Organization (WHO), by 2050, the global population aged 65 years and above is expected to reach around 2 billion increasing from 900 million in 2015. According to the Administration Community Living (ACL), the population aged 65 years and above increased from 37.2 million in 2006 to 49.2 million in 2016 in the U.S. Such a high population of geriatric population is increasing the demand for cochlear implants. Thus, these factors can augment growth of the cochlear implants market.

The basic theory of how cochlear implants work is actually quite simple. The cochlea is made up of several tiny hair-like branches. Each of these branches receives electrical signals from the audiologist, which are then transmitted to the brain. The brain then translates the signal and translates it into a pitch and tone that can be understood by the individual suffering hearing impairment. The demand for cochlear implants is also driven by technological advancements and increased battery life of cochlear implants. These implants have improved significantly over the years with long-lasting battery life and better audibility. Such factors can stimulate growth of the cochlear implants market in the near future.

Recently, in July 2020, Cochlear Ltd received the U.S. Food and Drug Administration (FDA) approval for three new hearing devices namely Kanso 2 Sound Processor, Nucleus Sound Processor, and Nucleus 22. 

That being said, these implants are expensive and require frequent maintenance, which incurs additional costs. Furthermore, there is a risk of potential injuries in surgery, which could impede growth of the cochlear implants market

In terms of regions, developed regions such as Europe are gaining rapid traction in the cochlear implants market. This is due to the fact that there is a high awareness regarding hearing aids as well as the availability of advanced centers for rehabilitation after surgery. Similarly, Asia Pacific has also shown promising signs related to the demand for cochlear implants since urbanization is rampant in emerging economies such as India and China.


Location: India

Comments

Post a Comment

Popular posts from this blog

Fitness Equipment Market is doing warm-ups to pull growth-rich opportunities from the growing obesity rates accompanied by the sedentary lifestyles

Image
  Fitness equipment is any mechanical device or equipment used in sport or exercise to improve the physical performance or strength of that activity by providing either adjustable or constant levels of force, either of dynamic nature that is immediately available to exert (such as running) or of a static type that requires adjustments (such as a bicycle). Some common types of equipment are treadmills, elliptical machines, step machines, exercise bicycles, recumbent bikes, treadmill monitors, rowing machines, and many more. Fitness equipment is used in gyms and private home fitness facilities as well as public parks and recreational facilities. Fitness equipment for the home is designed to provide low-impact aerobic workouts. Some items are available for rent or sale on the Internet. Rowing machines and exercise bicycles can give an all-over body workout, while Schwinn exercise bicycles can be used to target specific muscles. Fitness equipment for home gyms can be classified into ...
Read more

The market for ureteral stents would benefit from the rising prevalence of urological diseases

Image
  A ureteral stent is a slender adaptable cylinder embedded straightforwardly into the ureter to forestall or cure block of the urinary entry from the ureter. The length of these stents utilized for grown-up quiet's reaches somewhere in the range of 30 and 24 inches. Furthermore, various distances across or sizes of stents are accessible, to suit distinctive ureter sizes. This permits treatment choices to be customized to the person, just as to the degree of obstacle. Urinary stents are made of either metal silicone or plastic. They are set straightforwardly into the bladder through the urethra valve. Ureteral stents can either be made percutaneously, through medical procedure or by methods for an outpatient strategy. Contingent upon the sort of ureter that is influenced, the technique can be either a solitary needle or numerous needles. The developing commonness of urological illnesses around the world is driving the development of the ureteral stents market . Development in t...
Read more

Increases in Fuel Prices Significantly Impacts Growth of Automotive Repair and Maintenance Services Market

Image
  The automotive repair and maintenance services market is expected to expand significantly in the near future. Mechanical services are likely to remain the largest sector while electronic services are expected to grow the fastest. New heavy-duty vehicle dealers are expected to lead gains while independent repair shops, specialized mechanics and general automotive service companies will maintain their share of the market. The top performing providers will share the lion's share of market revenues with the top performing service providers. The gap between the two in terms of growth will widen further as traditional dealers find it difficult to survive the economic downturn. As the industry continues to reinvent itself, several factors are likely to impact the service sector. Economic Factors: The automotive repair and maintenance services market employs a large number of skilled workers. These works for the majority of the firms that provide services for automobiles. The high inf...
Read more