Bone Conduction Implants Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
- Medical Equipments
Global Bone Conduction Implants Market: Overview
Bone conduction implants are medical devices that conduct sound through bone conduction implants by using the natural ability of the human body. Bone conduction implants are generally used by individuals affected by conductive hearing loss, mixed hearing, or single-side deafness. Different kinds of bone conduction implants devices (BCDs) are available for hearing rehabilitation. Hearing loss can result from certain infectious diseases, exposure to excessive noise, genetic causes, chronic ear infections or complications at birth. Also, problems associated with hearing is one of the major issues faced by the elderly population (people aged 60 years or above).
Global Bone Conduction Implants Market: Drivers and Restraints
Increasing incidence of disabling hearing loss, growing elderly population, wide availability of technologically advanced products, and increasing prevalence of chronic ear infections are some of the factors likely to drive the bone conduction implants market during the forecast period. According to the World Health Organization, in 2016, 360 million people worldwide suffered from disabling hearing loss and 32 million of these were children. Unaddressed hearing loss across the globe costs approximately US$ 70 Bn annually. Also, 1.1 billion youngsters (people aged between 12 and 35 years) are at a risk of hearing loss due to exposure to noise in recreational settings. According to the U.S. Census Bureau, in 2016, 8.5% of people across the world (617 million) were aged 65 years or above and the number is projected to increase to nearly 17% by 2050 (1.6 billion).
Global Bone Conduction Implants Market: Key Segments
The bone conduction implants market can be segmented based on product, type of implant, application, end-user, and geography. Based on product, the market has been segmented into skin drive devices and direct drive devices. The skin drive devices segment has been sub-divided into conventional devices and passive transcutaneous devices. The direct drive devices segment has been sub-segmented into percutaneous devices and active transcutaneous devices. Based on type of implant, the bone conduction implants market has been classified into active implants and passive implants. Based on application, the market has been segregated into conductive hearing loss, single-sided deafness, and others. Based on end-user, the bone conduction implants market has been divided into hospitals, specialty clinics, and others.
Based on geography, the global bone conduction implants market has been segmented into five regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016. Increasing prevalence of hearing loss among children and elderly people and presence of key market players in the region are some of the factors likely to drive the bone conduction implants market in North America during the forecast period. According to Hearing Loss Association of America, two to three of every 1,000 children in the U.S. are born with detectable hearing loss in one or both ears. Europe is expected to account for the second-largest share of the global bone conduction implants market during the forecast period. Growth of the bone conduction implants market in the region is attributable to favorable reimbursement policies and increasing adoption of technologically advanced products in the region. According to the National Institute for Health and Disability Insurance, public expenditure on hearing aids reimbursement in Belgium is around US$ 22.7 Mn per year, for approximately 40,000 devices. Reimbursement in the country is based on a fixed lump-sum of US$ 569 for unilateral devices and around US$ 1,081.9 for bilateral devices. The bone conduction implants market in Asia Pacific is expected to register a high growth rate from 2017 to 2025, due to development of health care infrastructure, rise in disposable incomes, growth of elderly population in countries such as India and China, and economic development of the region. According to United Nations ESCAP, the Asia Pacific region is currently home to about 60% of the world’s elderly population. The number of elderly people in the region is expected to get more than double, from 547 million in 2016 to nearly 1.3 billion by 2050.
Global Bone Conduction Implants Market: Key Players
Some of the key players operating in the global bone conduction implants market are Cochlear Ltd., Medtronic, Siemens Healthineers, and Sonova.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Have query on this report?Make an Enquiry
The team was the biggest help to us. Not only were we provided with customized solutions but also we were guided through the most complicated situations. The information was on-point yet comprehensive. The experience was absolutely satisfying and helped us turn many challenges into opportunities.
Ours is a startup with a unique set of challenges and we were therefore hesitant but the team totally put us at ease with their knowledge and expertise. Our business and its challenges were understood perfectly and help was extended accordingly. The tailor made approach really helped us gain the most informative insights.
The report repository is absolutely impressive –updated and exhaustive in terms of markets covered and information provides. Besides, with the support extended to us by the team, we could reduce costs as well as move to sustainable growth. This really helped us tap into new opportunities. Happy to have gone ahead with ResearchMos.us.
We have had a long term engagement with ResearchMoz.us and never have we felt that the work done and help extended were below flawless. The report repository is one of the best one can hope to tap into. Recently, our partner businesses opted for consultancy services and they are all thrilled with the outcome.
Insights from reports helped us improve our profit margins significantly. Most of the knowledge we needed on the market were provided to us on a granular basis. From trends, and drivers to competitive analysis, the information was not just crisp but also insightful. That helped us chart a robust growth strategy and as of now we are happy to state that we are reaping big benefits.
More from Medical Equipments
Medical DevicesNebulizers-Medical Devices Pipeline Product Landscape, 2021