Yahoo Finance Bone Conduction Hearing Devices Market Report 2021-2028 | Size, Share, Growth, Trends, Competitive Landscape, Revenue
Key Companies Covered in the Bone Conduction Hearing Devices Market Research Report Are: Cochlear Limited, Oticon Medical, Medtronic plc, MED-EL Medical Electronics, BHM-Tech Produktionsgesellschaft mbH, Best Hearing Solutions, Sivantos Pte. Ltd.(Signia), Phonak Ltd. Starkey, Among others
Pune, India, July 29, 2021 (GLOBE NEWSWIRE) -- The global bone conduction hearing devices market is expected to experience a considerable growth owing to the increasing prevalence of hearing loss among patients and the risingfocus on R&D activities to develop advanced bone conduction hearing devices across the globe. This information is published by Fortune Business Insights, in its upcoming report, titled “Bone Conduction Hearing Devices Market Size, Share & Industry Analysis, By Product Type (Bone Anchored Hearing Aids, Traditional Bone Conduction Hearing Aids), By Patient Type (Children/Pediatrics, Adults), By End-User (Hospitals, ENT Clinics, Ambulatory Surgical Centers) and Regional Forecast, 2019-2026.”
The COVID-19 pandemic has led to severe repercussion owing to its widespread effects across several economies. Numerous industries are facing unprecedented losses owing to the lockdown announced by several governments across the globe that has resulted in the complete shutdown of the businesses. The crippling economy, however, is being revived through collective efforts from the government, as well as the industries and is expected to bounce back in the coming years.
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Industry Development:
September 2019: MED-EL Medical Electronics introduced BONERIDGE BCI 602, one of its new bone conduction hearing devices. According to the company, the new device is an improved version of bone conduction implant that is compatible with the present and all the upcoming SAMBA audio processors. The product is anticipated to be commercialized from mid-October.
A bone conduction hearing device is a hearing aid device suitable for those people suffering from a problem in their outer and middle ears. It enables the transfer of sound by the vibration of bone to the cochlea while proving extremely beneficial for those patients experiencing mixed and conductive hearing losses. These devices are so efficient that they directly transmit sound waves that appear to be like a natural sound to the hearer. Owing to the increasing cases of conductive hearing loss, wherein, the passage of sound gets blocked because ofdamaged or blocked anatomical structures, these devices are widely adopted to correct the hearing loss among patients.
DRIVING FACTORS
Increasing Prevalence of Hearing Loss to Aid Growth
Deafness and hearing loss is one of the glaring medical issues that have affected several people across the globe. For instance, according to the World Health Organization (WHO), it is estimated that around 466 million people suffer from hearing loss, and the number is anticipated to surge to 900 million by the year 2050. In addition to this, the increasing number of the geriatric population globally is propelling the manufacturers to develop innovative bone conduction hearing devices to cater to the rising demand. Therefore, the increasing prevalence of hearing loss is expected to contribute to the global bone conduction hearing devices market growth during the forecast period.
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REGIONAL INSIGHTS
Presence of Major Companies in North America to Favor Growth
Among all the regions, North America is expected to remain at the forefront and hold the highest position in the global bone conduction hearing devices market during the forecast period. This is attributable to the increasing presence of major healthcare companies developing innovative bone conduction hearing devices in countries such as the U.S. Europe, on the other hand, is expected to hold the second position in the market. This is ascribable to factors such as the increasing prevalence of hearing loss cases amongst people and the adoption of novel devices owing to the risingfocus on R&D activities by the companies in the region between 2019 and 2026.
COMPETITIVE LANDSCAPE
Product Launches by Major Companies to Generate Substantial Revenue
The global market for bone conduction hearing devices is steered by the presence of several small, medium, and large companies. These companies are striving to introduce new bone conduction hearing devices products to propel the sales revenue and consolidate their positions in the global marketplace. Apart from this, the adoption of strategies such as merger and acquisition, partnership, and collaboration by the companies are expected to favor the market growth in the forthcoming years.
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List of the Companies Operating in the Global Bone Conduction Hearing Devices Market:
Cochlear Limited
Oticon Medical
Medtronic plc
MED-EL Medical Electronics
BHM-Tech Produktionsgesellschaft mbH
Best Hearing Solutions
Sivantos Pte. Ltd.( Signia)
Phonak Ltd. Starkey
Among others
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