The global cochlear implant market size is expected to reach USD 3.4 billion by 2026, based on a new report by Grand View Research, Inc. is estimated to grow at a CAGR of around 10.5% over the forecast period. The cochlear implants market is anticipated to witness significant growth during the forecast period, which can be attributed to a favorable reimbursement scenario, rising awareness about hearing aids, and increasing adoption of implants.
Furthermore, technological advancements in cochlear implants to make the device more efficient and user-friendly can boost the demand, which is expected to propel the industry during the forecast period. For instance, in September 2016, Cochlear Ltd. launched the world’s thinnest full-length perimodiolar electrode for their cochlear implant. The thin structure of the implant electrode helps to protect the delicate structures of the inner ear.
By type of fitting, the market is segmented into unilateral and bilateral implantation. In 2018, unilateral implantation segment dominated the industry due to its availability at a low cost as compared to bilateral implantation and significant ability to localize the sound. However, bilateral implantation is anticipated to witness fastest growth during the forecast period. This can be attributed to its cost-efficiency when implanted in children, good reimbursement, and ability to improve the performance after implantation.
Request a Sample Copy of the Cochlear Implant Market Research Report @ https://www.grandviewresearch.com/industry-analysis/cochlear-implants-industry/request/rs1
Further Key Findings from the Study Suggest:
Have Any Query? Ask Our Experts@ https://www.grandviewresearch.com/inquiry/159/ibb
Grand View Research has segmented the cochlear implants market by type of fitting, by end use, and region:
Cochlear Implants Type of Fitting Outlook (Market Revenue in USD Million, 2015 – 2026)
Cochlear Implants End Use Outlook (Market Revenue in USD Million, 2015 – 2026)
Cochlear Implants Regional Outlook (Market Revenue in USD Million, 2015 – 2026)
Browse Related Reports @
Enzymatic Wound Debridement Market: https://www.grandviewresearch.com/industry-analysis/enzymatic-wound-debridement-market
Surgical Blade Market: https://www.grandviewresearch.com/industry-analysis/surgical-blades-market
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media ContactCompany Name: Grand View Research, Inc.Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.Email: Send EmailPhone: 1-415-349-0058, Toll Free: 1-888-202-9519Address:201, Spear Street, 1100 City: San FranciscoState: CaliforniaCountry: United StatesWebsite: https://www.grandviewresearch.com/industry-analysis/cochlear-implants-industry