$0.8 Billion Hearing Implants Market is Using 3D Printing Technology, Says a Report From TBRC
LONDON, Sept. 24, 2019 /PRNewswire/ -- TheBusinessResearchCompany.com offers two new reports "Hearing Implants Global Market Report 2019" and "Hearing Diagnostic Devices And Equipment Global Market Report 2019" from its research database.
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Companies in the global 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, which is among the top players in the global hearing implants market, manufactures binaural cochlear implants, which use two different modes of stimulation, electrical and acoustic, to enhance hearing and better discrimination of speech.
Hearing implants are surgically installed devices aimed to improve the hearing of a person suffering from severe or profound levels of hearing loss. These devices are segmented into cochlear implants, bone anchored hearing aids (BAHA), mid-ear implants, and auditory brainstem implants (ABI).
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Aging Population Will Drive The Hearing Implants Market: Aging population is increasing worldwide and loss of hearing is one of the most common age-related disorder in the aged above 60 years. In 2017, the population aged above 60 years was more than 600 million and with the increasing geriatric population, the demand for hearing implants is expected to increase. Therefore, increasing aging population is expected to drive the market for hearing implants, from $0.8 billion in 2018, to $1.06 billion to 2022, at an annual growth rate of more than 7%.
Various Risks Associated With Ear Surgeries Will Hinder The Market Growth Going Forward: The surgical procedure for implanting hearing implants is associated with various risks and is expected to restrain the hearing implants' 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 development of meningitis, cerebrospinal fluid leakage, infection and others, people prefer conventional hearing aids over implants, thus restraining the growth of the hearing implants market.
Major Hearing Implant Manufacturers: Major players in the global hearing implants market are Sonova (Switzerland), Advanced Bionics AG (Switzerland), Siemens AG, William Demant Holding Group (Denmark) and Microson S.A. (Spain). Cochlear implant manufacturers in the USA have to submit information regarding the materials used, efficacy based on clinical trials, and any adverse effects to the Food and Drug Administration. The manufacturer can begin the sale of the implants in the USA only after receiving approval from the FDA.
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On the Similar Lines, The Business Research Company's 2019 Global Hearing Diagnostic Devices And Equipment Market Report covers devices used for testing and evaluating hearing loss. The machines usually consist of an embedded hardware unit connected to a pair of headphones and a test subject feedback button, sometimes controlled by a standard PC. The global hearing diagnostic devices and equipment market was valued at about $2.5 billion in 2018 and is expected to grow to $2.8 billion at an annual growth rate of nearly 3% through 2022.
Technological Innovations In The Hearing Healthcare Industry
The hearing healthcare industry is evolving with continuous innovations in terms of technologies used. These technologies use modules like Transient evoked otoacoustic emissions (TEOAE), Distortion product otoacoustic emissions (DPOAE) and Auditory Brainstem Response (ABR). TEOAE is the module that is used for hearing diagnosis and is generated by reflection of travelling wave. DPOAE is used to track the progress of cochlear function in newborns. The ABR is another test used by audiologists to check the way hearing nerves of babies respond to sounds. For example, Maico has invested in and recently launched a new product named easyScreen with BERAphone, which is a combination of ABR, TEOAE and DPOAE, and is used for response detection, thus reducing the workload and test time.
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