LONDON--(BUSINESS WIRE)--The global middle ear implants market is expected to post a CAGR of close to 9% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global middle ear implants market is the shortcomings of hearing aids. Although conventional hearing aids help patients suffering from hearing loss, they have several shortcomings. In conventional hearing aids, the sound waves are picked up by a microphone and are amplified according to the level of hearing loss suffered by the user. These waves are sent through miniature speakers into the ear canal, which creates an annoying whistling or squeal feedback. As a result, patients with severe hearing loss cannot wear small hearing aids. Additionally, hearing aids cause distortion due to anatomical deformities and hearing aid placement. Such disadvantages of conventional hearing aids prevent people from wearing hearing aids will drive the demand for technologically advanced middle ear implants.
As per Technavio, technological advancements will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global middle ear implants market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global middle ear implants market: Technological advancements
The middle ear implants market has witnessed several technological advances over the years, which has brought significant changes in terms of hearing outcomes and the lifestyles of people with hearing loss. Technological advances such as the reduction in size and improved reliability of electronic components are helping propel the development of advanced middle ear implants, that offer higher efficacy to users of implantable devices. A potential future prospect is to technologically link the implant devices with other devices such as cochlear implant hybrid devices. A fully implantable middle ear device is a viable option for patients with mixed hearing loss or sensorineural hearing loss.
“Governments of several countries across the world are taking initiatives and imposing mandates for early screening, diagnosis, and treatment of hearing-related issues among the population. For instance, the government of the UK launched a National Action Plan on Hearing Loss in 2017, after estimating the steep increase in the number of people who will suffer from hearing loss by 2035. Such initiatives will positively impact the demand for middle ear implants during the forecast period,” says a senior research analyst at Technavio.
Global middle ear implants market: Segmentation analysis
This market research report segments the global middle ear implants market by product electromagnetic middle ear implants and piezoelectric middle ear implants), application (sensorineural hearing loss, conductive hearing loss, and mixed hearing loss) and geographic regions (North America, Europe, Asia, and ROW).
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the high prevalence of hearing loss, the presence of established vendors, growing elderly population, and increasing awareness of the benefits of middle ear implants.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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