Global Bionic Ears Market: Overview
Standard hearing aid devices are useful for people affected by the partial hearing loss as these devices amplify the surrounding sounds. However, these devices are not useful for people who have impaired hearing or are completely deaf. Hearing loss is mainly caused due to abnormalities or damage in the cells present inside the inner ear or cochlea. The bionic ear is of assistance for people suffering from profound, severe, or total hearing loss. A bionic ear is an electronic device which can electrically stimulate the nerves in the inner ear of patients and produce a hearing sensation in their inner ears. The device consists of a receiver-stimulator and a sound processor. They are used to stimulate the nerves of the inner ear. Signals are sent to the brain through the nerves and these signals are interpreted as sound.
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Global Bionic Ears Market: Segmentation
The global bionic ears market is segmented into its device type, end-users, and geography. On the basis of device type, the bionic ears market is divided into the cochlear implant and bone-anchored hearing aid. Based on end-user, the market is categorized into research institutes, hearing clinics, and hospitals. On the basis of geography, the market is segregated into North America, Asia-Pacific, Latin America, Europe, and the Middle East and Africa.
Global Bionic Ears Market: Growth Factors
Among the geriatric population, there has been a rapid rise in the prevalence of hearing disorders. This has majorly contributed to the growth of bionic ears market. Hearing disabilities caused in new-born babies is a major cause of concern. Bionic ears are useful to aid infants with hearing disabilities. Other factors such as availability of better infrastructure, better diagnostic facilities, increasing awareness among the population, and technological advancements in the field of bionic ears are positively influencing the market growth. However, high cost associated, apprehension of malfunction of these devices among the users and regulatory requirement for bionic ears may cause a restraint to the market growth.
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Global Bionic Ears Market: Regional Analysis
The largest share in the bionic ears market is held by the North America. This can be attributed to the better diagnostic facilities and increasing awareness among the people in this region. The U.S. and Canada are the major contributors to the market in North America. Growth in North America is followed by Europe and Asia-Pacific mainly due to the large population, vast technological advancements in bionic ears, and increasing income of the individuals. Countries such as China, Japan, and India in Asia Pacific and Germany, the U.K., Italy, Spain, and France in Europe are at the forefront of the market growth in these regions. A considerable share of the market growth is also put forth by Latin America and the Middle East and Africa.
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Global Bionic Ears Market: Competitive Players
Some of the major companies involved in the bionic ears market include Advanced Bionics AG, Sonova, Cochlear Ltd., MED-EL., and Sivantos Pvt. Ltd.
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