DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/zv29br/global_cochlear) has announced the addition of the "Global Cochlear Implants Market 2014-2018" report to their offering.
The analysts forecast the Global Cochlear Implants market to grow at a CAGR of 14.77 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increase in product customization. The Global Cochlear Implants market has also been witnessing the increase in the number of product launches and approvals. However, the high cost of Cochlear Implant devices could pose a challenge to the growth of this market.
Key vendors dominating this space are Cochlear Ltd., MED-EL GmbH, Sonova Holding AG and Neurelec SA.
Another vendor mentioned in the report is Nurotron Biotechnology Co. Ltd.
Commenting on the report, an analyst from the team said: Acquisitions help organizations grow rapidly and expand their business processes. The Global Cochlear Implant market is witnessing an increase in the number of acquisitions. There has been a significant increase in the acquisition of small and medium-sized companies by the leading cochlear implant manufacturers. The competitive environment in this market is expected to intensify with an increase in product extensions and an increase in mergers and acquisitions among the existing market leaders. It is expected that international players will grow inorganically during the forecast period by acquiring regional or local players. For instance, in 2013, Neurelec merged with William Demant Group, a leading international healthcare company in hearing devices, diagnostic instruments, and personal communication. Through this merger, the William Demant Group is expected to get additional access to a competitive and strong product portfolio of implantable hearing solutions.
According to the report, one of the major growth factors driving the Global Cochlear Implants market is the increase in the customization of cochlear implant devices. Most of the leading cochlear implant device manufacturers are customizing and developing their product lines to appeal more to consumers and stay ahead of the competition.
For more information visit http://www.researchandmarkets.com/research/zv29br/global_cochlear
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