Enjoy complimentary customisation on priority with our Enterprise License!
The middle ear implants market share is expected to increase by USD 52.44 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.75%.
This middle ear implants market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers middle ear implants market segmentation by product (electromagnetic middle ear implants and piezoelectric middle ear implants), application (sensorineural hearing loss, conductive hearing loss, and mixed hearing loss), and geography (North America, Europe, Asia, and Rest of World (ROW)). The middle ear implants market report also offers information on several market vendors, including Audio Technologies Srl, Cochlear Ltd., Demant AS, Envoy Medical Corp., Grace Medical Inc., MED-EL Elektromedizinische Gerate GmbH, Medtronic Plc, Ototronix LLC, SPIGGLE and THEIS Medizintechnik GmbH, and Olympus Corp. among others.
Download the Free Report Sample to Unlock the Middle Ear Implants Market Size for the Forecast Period and Other Important Statistics
The growing incidence of hearing loss is notably driving the middle ear implants market growth, although factors such as the high cost of hearing implants, cochlear implants, bone-anchored hearing systems (BAHS), and auditory brainstem implants may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the middle ear implants industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Middle Ear Implants Market Driver
The growing incidence of hearing loss is one of the key drivers supporting the middle ear implants market growth. According to the National Health and Nutrition Examination Survey (NHANES), the prevalence of hearing loss rises steeply with age. About 30% of people aged 65 years and above are affected by disabling hearing loss. Though older people are more likely to face hearing problems, recent trends have shown an increase in the number of young adults who are already experiencing some hearing loss, primarily as a result of exposure to loud sounds. In view of this, the increasing incidence of hearing loss, especially among all age groups, is becoming a matter of serious concern globally. Thus, the rising incidence of hearing loss implies an increase in demand for hearing devices. Hence, the increase in the incidence of hearing loss among the global population serves as a major driver for the growth of the global middle ear implants market.
Key Middle Ear Implants Market Trend
Government initiatives is one of the key trends contributing to the middle ear implants market growth. Governments of several countries have taken up initiatives and imposed mandates for the early screening, diagnosis, and treatment of hearing-related issues among the population. For instance, the WHO assists its member states in developing programs for hearing and ear care, which are integrated into the primary healthcare system. The 70th World Health Assembly adopted a resolution in 2017 on the prevention of hearing loss and deafness. This resolution calls upon the member states to integrate the respective strategies for ear and to hear care within the framework of their primary healthcare systems under universal health coverage. The resolution also requests WHO to undertake a number of actions to promote ear and hearing care globally. Therefore, these increasing regulations and initiatives on hearing issues are expected to boost the growth of the global middle ear implants market.
Key Middle Ear Implants Market Challenge
The high cost of hearing implants, cochlear implants, bone-anchored hearing systems (BAHS), and auditory brainstem implants is one of the factors hindering the middle ear implants market growth. Middle ear implants require invasive procedures or surgery for their implantation along with a long recovery time. The average cost of middle ear implants per ear is around $27,000. For instance, Esteem from Envoy Medical is a fully implantable middle-ear implant. If the device fails, in some cases, there is a chance of restoration using a prosthesis, while in other cases, this restoration may not be possible at all. There is also a possibility of the whole surgery being irreversible. This device costs around $28,000-$32,000, and the surgeon performing the procedure needs certifications to carry it out. Therefore, the high cost of middle ear implants makes them unaffordable for some patients. Also, since all implants are not covered under Medicare or Medicaid, it becomes even more difficult for patients to choose this option. This factor poses a major challenge for the growth of the global middle ear implants market.
This middle ear implants market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global middle ear implants market as part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the middle ear implants market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the middle ear implants market encompasses successful business strategies deployed by the key vendors. The middle ear implants market is concentrated and the vendors are deploying growth strategies such as developing high-quality, advanced, and innovative cochlear implants to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The middle ear implants market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the middle ear implants market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
41% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for middle ear implants market in North America. Market growth in this region will be faster than the growth of the market in ROW.
The rise in the incidence of hearing loss along with the growth in the number of elderly people will facilitate the middle ear implants market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The middle ear implants market in North America witnessed a slow growth in 2020 due to the outbreak of COVID-19. However, post lockdown, the increase in new and rescheduled surgeries for middle ear implants is expected to stabilize the growth of the middle ear implants market in North America during the rest of the forecast period.
To gain further insights on the market contribution of various segments Request for a FREE sample
The middle ear implants market share growth by the electromagnetic middle ear implants segment will be significant during the forecast period. For instance, Ototronixs MAXUM middle ear implant is a semi-implantable device with the transducer implanted inside and the audio processor attached to the skin outside. The surgical procedure for this implant is minimally invasive in nature. Acoustic energy is picked up from outside, and the pinna helps in directing it to the audio processor. The transceiver coil transforms the energy into electromagnetic energy, and the electromagnetic waves are generated in the middle ear. These waves are picked up by the middle ear implant and move according to the electromagnetic wave strength, which helps the person to hear a more natural sound. Hence, the benefits and wide use of electromagnetic middle ear implants will aid the growth of the global middle ear implants market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the middle ear implants market size and actionable market insights on post COVID-19 impact on each segment.
|
Middle Ear Implants Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2021 |
|
Forecast period |
2022-2026 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 8.75% |
|
Market growth 2022-2026 |
$ 52.44 million |
|
Market structure |
Concentrated |
|
YoY growth (%) |
8.65 |
|
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
|
Performing market contribution |
North America at 41% |
|
Key consumer countries |
US, Canada, Germany, UK, and China |
|
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
|
Key companies profiled |
Audio Technologies Srl, Cochlear Ltd., Demant AS, Envoy Medical Corp., Grace Medical Inc., MED-EL Elektromedizinische Gerate GmbH, Medtronic Plc, Ototronix LLC, SPIGGLE and THEIS Medizintechnik GmbH, and Olympus Corp. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Customized Report as per your Business Needs
Let us help you make report more suited to your requirements.
Get the report (PDF) sent to your email within minutes.
