Cochlear Implant Market Growing at 14.61% CAGR to 2020

16 Feb, 2016, 01:00 ET from RnR Market Research

PUNE, India, February 16, 2016 /PRNewswire/ --

The growth of cochlear implants market is supported with the advent of favorable government initiatives and reimbursement policies in emerging countries according to this new report that forecasts global cochlear implants market to grow at a CAGR of 14.61% during the period 2016-2020. Also, factors such as the rapid increase in geriatric population and the recent rise in the prevalence of acquired hearing loss will also foster the prospects for growth in this market until 2020.

Complete report on cochlear implants market spread across 52 pages, analyzing 4 major companies and providing 23 data exhibits is now available at http://www.rnrmarketresearch.com/global-cochlear-implant-market-2016-2020-market-report.html.

According to the Global Cochlear Implants Market 2016 - 2020 report, increase in the customization of cochlear implant devices will drive the market. Most leading cochlear implant device manufacturers are customizing and developing their product lines to attract consumers and stay ahead of the competition. Manufacturers are also focusing on innovation and offering products with upgrades, especially in sound processors. These next-generation sound processors consist of technologically advanced chips, thereby increasing the demand for the product in the cochlear implants market.

Rechargeable cochlear implant devices have been experiencing significant demand recently. For instance, Hansaton Acoustics introduced the AQ Custom Rechargeable ITE in 2010 and the AQ X-Mini Rechargeable Receiver-in-the-Canal device in July 2011. Rechargeable consumer hearing aids have an advantage over conventional hearing aid devices with primary cells rechargeable devices are small in size, enabling manufacturers to build tiny instruments that also appeal cosmetically. Order a copy of Global Cochlear Implant Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=475647.

In terms of geography, the global cochlear implants market was dominated by the Americas, which accounted for more than 42% of the total market share during 2015. In the Americas, the US was the largest revenue contributor as it accounted for a significant share of the global market. Factors such as the presence of favorable reimbursement policies in this region and the high buying power of the populace in North America will spur the prospects for market growth in this region.

The global cochlear implants market offers a moderate opportunity for vendors to grow during the forecast period. Due to the rising demand for cochlear implant devices, most of the leading companies are focusing on the development and introduction of effective products. To survive and succeed in this market, the large vendors are acquiring small and medium-sized vendors as it will help them to bolster their revenue generating capacity.

The leading vendors analyzed in cochlear implants market are Cochlear, MED-EL, Sonova, and William Demant. Other prominent vendors are Microson and Nurotron Biotechnology.

Further, the cochlear implants market report states that high cost of cochlear implant devices is likely to hinder market growth.

Another related report titled Global Hearing Aids Market 2015-2019 projects the hearing aids market to grow at a CAGR of 4.68% during the period 2014-2019. The availability of more appealing, comfortable, efficient, and less stigmatic neck worn hearing aids in the market is increasing. Vendors differentiate their new products in terms of designs, shapes, and connectivity. These innovative devices enhance hearing and also allow the user to stay connected to devices such as an MP3 player, television, and smartphone. Browse complete report @ http://www.rnrmarketresearch.com/global-hearing-aids-market-2015-2019-market-report.html.

Key players in the global hearing aids market: GN Store Nord A/S, Sonova Holding AG and William Demant Holdings AG (WDH). Other prominent vendors in the market are: Amplifon, Amplisound, Audina, Cochlear, Elkon, Med-El, Rayovac MicroPower Batteries, Rion, SeboTek Hearing Systems, Siemens, Starkey, Sonovation and Widex

Explore other new reports on ENT Device Market @ http://www.rnrmarketresearch.com/reports/life-sciences/medical-devices/ent-device.

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