Share
Bionic Ear: by type (cochlear implant, auditory brainstem implants, and bone-anchored hearing aid); by end use (research institutes, hearing clinics, and hospitals); , And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
Bionic Ear to surpass USD 30.2 billion by 2031 from USD 4.9 billion in 2021 at a CAGR of 8.8% in the coming years, i.e., 2021-31.
Bionic ear, also known as a neural prosthesis, is an electronic device meant to help persons with hearing loss. It has the ability to activate the auditory nerve and send sound signals straight to the brain. A receiver-stimulator and an external sound processor are both fitted behind the ear in the bionic ear. The sound processor also gathers external sound before converting it to a digital code. The digital code is sent to the receiver-stimulator, which is worn behind the ear. Furthermore, the receiver uses the incoming digital code to produce the electrical signals, which are then delivered to the electrode array in the cochlea. Both those who are suffering from profound loss and those who are completely blind can utilize these gadgets.
Global Bionic Ear to surpass USD 30.2 billion by 2031 from USD 4.9 billion in 2021 at a CAGR of 8.8% in the coming years, i.e., 2021-31. Hearing loss is projected to become more common as the prevalence of hearing impairments rises and the geriatric population grows. According to the World Health Organization, more than 360 million individuals worldwide suffer from hearing loss. Hearing loss is one of the most common ailments in the world.
Get More Information - Download Free Sample
Global Bionic Ear Market is fragmented by type into cochlear implant, auditory brainstem implants, and bone-anchored hearing aid. Electric stimulation of the remaining auditory nerve is the only medical method that can restore partial hearing to a deafened person. It may be a good alternative for patients who have significant hearing loss due to inner ear damage and are no longer able to use hearing aids.
Global Bionic Ear market is segmented by end use into research institutes, hearing clinics, and hospitals. Research institutes are organizations that conduct a variety of studies on a variety of topics. The number of studies on bionic ears has increased in recent years. The establishment of research institutes is aided by increased financing for research projects. Rising financing for research initiatives has resulted in an increase of research institutes, boosting the segment's growth.
Get More Information - Download Free Sample
Hearing loss is becoming more common
Hearing loss is projected to become more common as the prevalence of hearing impairments rises and the geriatric population grows. According to the World Health Organization, more than 360 million individuals worldwide suffer from hearing loss. Hearing loss is one of the most common ailments in the world. According to the Royal National Institute for Deaf People, the disease becomes more prevalent as people get older, affecting 70% of those over 70 and 42% of those over 50. Other reasons boosting the bionic ear market size include prolonged exposure to noise in recreational settings, rising healthcare spending, and the pre-launch of bionic ear devices.
Demand for minimally invasive surgical procedures is expected to grow, boosting the market
The worldwide bionic ear market will not be able to keep up with the need for minimally invasive surgical techniques. Due to technological developments and the establishment of beneficial insurance schemes, there has been a substantial increase in the adoption of such equipment.
A regulatory mandate
During the projection period, the market growth is expected to be hampered by the lengthy approval process connected with bionic ear implants. Moreover, Medical and device costs are extremely high.
Global Bionic Ear market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America accounted for XX percent of the market in 2021, and the region is expected to grow at a CAGR of XX percent over the next decade. In 2021, North America dominated the bionic ear market, and it is likely to stay so for a few more years. This is attributable to greater public awareness, enhanced diagnostic facilities, and bionic ear technical breakthroughs. The bionic ear market in the United States is growing due to rising patient adoption and acknowledgement of the product's benefits. In addition, the presence of prominent service providers in the region, such as Cochlear, Unitron, Intelligent Hearing System, and Advanced Bionics, will spur industry expansion in the coming years.
Get More Information - Download Free Sample
The market for bionic ears was harmed by COVID-19. Several lockdown measures were implemented as a result of the epidemic, adding to the difficulties faced by patients with hearing impairments. Many hospitals limited non-elective operations and surgeries, and redirected resources such as nursing personnel and ICU beds to care for coronavirus patients. In addition, therapeutic constraints and a drop in implanted bionics production have stifled the bionic ear market's growth.
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 4.9 billion |
|
Revenue forecast in 2031 |
USD 30.2 billion |
|
Growth Rate |
CAGR of 8.8% from 2021 to 2031 |
|
Base year for estimation |
2021 |
|
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Type, End use and Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key companies profiled |
Advanced Bionics (US) • Sonova (Switzerland) • Cochlear (Australia) • MED-EL (Austria) • Sivantos/ WS Audiology (Singapore) • Oticon (Denmark) • Hangzhou Nurotron (China) • Listent Medical (China) • Medtronic PLC (Ireland) • Edward Lifesciences Corporation (US) • Ekso Bionics (US) • Ossur (Iceland) • LifeNet Health (US) • William Demant Holdings (Denmark) • Terumo Corporation (Japan)., and Other Prominent Players. |
Bionic Ear market size was estimated at USD 4.9 billion in 2021 and is expected to reach USD 30.2 billion in 2031.
A bionic ear, also known as a neural prosthesis, is an electronic device meant to help persons with hearing loss. It has the ability to activate the auditory nerve and send sound signals straight to the brain. A receiver-stimulator and an external sound processor are both fitted behind the ear in the bionic ear.
Hospitals and clinic segment accounted for the largest Bionic Ear market share.
Key players: Advanced Bionics (US) • Sonova (Switzerland) • Cochlear (Australia) • MED-EL (Austria) • Sivantos/ WS Audiology (Singapore) • Oticon (Denmark) • Hangzhou Nurotron (China) • Listent Medical (China) • Medtronic PLC (Ireland) • Edward Lifesciences Corporation (US) • Ekso Bionics (US) • Ossur (Iceland) • LifeNet Health (US) • William Demant Holdings (Denmark) • Terumo Corporation (Japan)
The worldwide bionic ear market will not be able to keep up with the need for minimally invasive surgical techniques. Due to technological developments and the establishment of beneficial insurance schemes, there has been a substantial increase in the adoption of such equipment.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
