The hearing implants market is witnessing a rapid growth across geographies. Both Cochlear and BAHA implants are gaining popularity and acceptance among people with hearing disabilities, owing to the growing awareness among the general population about the effects of severe to profound hearing loss. The adoption of implantable solutions is rising in the market, also due to product innovation by the market vendors. Furthermore, the increase in regulatory approvals and product customization are fueling the growth of the hearing implants market globally says a recent report on Hearing Aids Market – Global Outlook and Forecast 2018-2023 by Arizton.

Analysts at Arizton expect the global hearing implants market to grow at a CAGR in excess of 12% over 2017-2023 and reach close to $3 billion by 2023.

The key players in the global hearing aids market like Cochlear, William Demant, Sonova, Sivantos Group, and  also MED-EL are distributing their efforts between innovating, researching, and developing advanced hearing implants products, designing aggressive marketing and promotional strategies to create end-user awareness, and creating effective pricing strategies to increase the reach of these products to populations across geographies belonging to multiple economic strata. The major players in the global hearing implants market are also showing increasing affinity towards creating a dominant distribution channel to penetrate the developing markets and also uncharted geographies.

Cochlear

A key player in the market, Cochlear, is a medical device company founded in 1981 and headquartered in Sydney, Australia. The company is a world leader in the manufacture and distribution of cochlear implants. Engaged in the designing, development and manufacturing, they offer hearing implants and prosthetics under various business segments such as cochlear implants, middle-ear implants, bone conduction implants, true wireless devices and bone anchored prosthetics.

The company puts a lot of emphasis on product innovation and has invested close to 12% of its total revenue in R&D, in FY2016. R&D and increased product launches in the market, are two key strategies implemented by Cochlear, to strengthen its market position in the global hearing implants market resulting in a better presence in the global hearing aids market.

Cochlear launched the US FDA approved Cochlear Nucleus 7 Sound Processor in July 2017. The world’s first hearing aid device compatible with iPhones, the Cochlear Nucleus 7 Sound Processor, is one of the smallest and lightweight BTE cochlear implant sound processor available in the global hearing implants market.

In September 2017, the company announced the launch of the US FDA approved Baha SoundArc for conductive hearing loss, single-sided sensorineural deafness or mixed hearing loss. The product is a non-surgical band worn behind-the-head and is compatible with Baha 5 sound processors.

William Demant

Another key player in the global market, William Demant, has direct presence in more than 30 countries and distribution channels in more than 130 countries. Founded in 1904 and headquartered in Smørum, Denmark, William Demant is a world leader in the manufacture and distribution of diagnostic instruments, hearing implants, hearing aids, and personal communication devices.

A major factor leading to the strong presence of the company,  in the market over the years, has been its propensity to invest in R&D activities and introduce innovative and technologically advanced hearing aids and  implant devices in the global hearing implants market. The company invested more than $120 million on R&D activities in FY2016.

In 2017, the company rolled-out Neuro cochlear implants in a few of the global hearing implants market, such as Brazil and France. The company is also expected to launch Neuro 2 in the market by the end of 2017. The company launched Ponto 3, super power version in the BAHS business segments during late 2016 and is expected to launch Ponto BAHS in India, Russia, and some of the Eastern European countries in 2017.

Sonova

Sonova is a leading provider of hearing care solutions. Founded in 1947 and headquartered in Stafa, Switzerland, the company offers a wide range of hearing care products such as cochlear implants, hearing aids, and wireless communication solutions. Operating its businesses globally in over 100 countries, with a workforce of over 14,000 employees worldwide; the company operates with some of the major hearing care brands such as Phonak, Unitron, Advanced Bionics, Hansaton and AudioNova.

Innovative product launches and product integration with e-solutions are two of the key strategies of Sonova. The platform-based innovation by the company focuses on introduction of new and innovative products in the global hearing implants market. The company also aims to integrate new products with digital solutions, to better connect users with hearing care professionals and with Sonova in case of product malfunction.

MED-EL

Touted as “the world’s most innovative cochlear implant company”, MED_EL is one of the leading manufacturers of cochlear implants globally and has been providing hearing care services and products for over 30 years. The company is the second largest contributor to the cochlear hearing implants market. It operates its businesses globally in over 100 countries, through direct sales and distributors and has direct presence in over 20 countries across the globe.

A high investment in R&D is one of the key strategies implemented by MED-EL. This helps in product innovation and increased product launches in the global hearing implants market, strengthening the company’s market position.

Synchrony cochlear implant system, Sonnet, and Rondo 2 are three of the most popular hearing implants devices from MED-EL which are available in the global hearing implants market.  

You may reach us at

enquiry@arizton.com