The technology is ideal for adults as well as pediatrics patients suffering from hearing defects. Adults segment has been dominating the market in the recent past. This can be attributed due to existence of huge patient base and less complications involved as compared to pediatric patients. The technology can become a feasible choice for elder patient who failed to get hearing benefit from other wearing hearing aids.
The pediatric segment is likely to show rapid growth over the forecast period. Growing need for solutions to treat pediatrics patients due to increasing number of cases in of hearing defects in newborns can boost demand. According to worlds health organization (WHO), every year almost, 134 million kids are born, out of which around one or three neonates per thousand are recorded to have hearing defects. This will increase the need for advanced hearing aids in the years to come. Technological development in hearing devices, especially for child patients can also drive the growth for the segment.
For Instance, Cochlear Limited, a provider of implantable hearing solutions recently introduced the new Cochlear Baha SoundArc in the US and Canada. The product can be an effective as well as stylish wearing option for children with conductive hearing loss, mixed hearing loss or single-sided sensorineural deafness (SSD).
According to a report available on Radiant Insights, Inc., the hybrid cochlear implant market is likely to show significant growth through 2022. Factors like increasing old age population worldwide, increasing government backing and satisfactory reimbursement policies, growing awareness about hearing aids, and technological improvements in devices can propel the market over the forecast period (2018 to 2022).
Europe is one of the largest markets due to presence of huge number of patients in the region and conductive healthcare infrastructure that allows implantation of device at early age.
Leading players operating in the market include Nurotron Biotechnology Co. Ltd., William Demant Holding A/S; Cochlear Ltd., and Nurotron Biotechnology Co. Ltd.