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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Binaural hearing helps in locating the sound source and in speech recognition in patients with impaired hearing. Cochlear implants are used in children and adults with sensorineural hearing loss, a condition that involves damage to tiny hair cells present in the cochlea region of ear. A cochlear implant helps the signal to skip damaged tiny hair cells and directly reach the auditory nerves.

Binaural Cochlear Implant Market – Drivers

Recent technological advancement in binaural cochlear implant surgeries such as 3D printed implants is expected to boost growth of the market. For instance, according to an article published in BioMed Research International 2018, are focusing on using 3D printing technology in developing patient specific implants of biocompatible materials to treat anatomical defects with use of stem cells. Stems cells are allowed to grow on the biocompatible materials to develop into ear bones, which can be used further as implants to replace damaged ones.

Furthermore, various organization initiatives in spreading awareness of deafness and hearing loss is expected to boost growth of the binaural cochlear implant market. For instance, in July 2017, World Health Organization (WHO) organized meeting for its program — Prevention of Deafness and Hearing Loss. The meet concluded with the importance of global alliance and world report for action on hearing loss. ‘Education for All’, ‘Data for Hearing Loss’, the ‘World Health Assembly Resolution’ and the proposed ‘World Report on Hearing’ were the agendas for the meeting.

Binaural Cochlear Implant Market – Restraint

Adverse effects associated with binaural cochlear implants such as vertigo, loss of postural balance, meningitis, and nerve damage have reduced patient compliance. This in turn is expected to hamper growth of the binaural cochlear implant market. For instance, according to an article published in The Scientific Electronic Library Online (SciELO), February 2018, vertigo or imbalance of body posture occurs in around 75% patients with cochlear implant surgery.

Binaural Cochlear Implant Market – Regional Analysis

On the basis of region, the global binaural cochlear implant market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold dominant position in the global binaural cochlear implant market over the forecast period, owing to increasing prevalence of hearing loss in the populace. For instance, according to a report published by the Hearing Loss Association of America, 2017, around 48 million people reported some degree of hearing loss in U.S. in 2017. Furthermore, according to The Hearing Review, in January 2018, 3.65 million hearing aid units were dispensed in the U.S. in 2017.

Additionally, Asia Pacific is expected to witness significant growth in the market, owing to expansion strategies of key players and increasing prevalence of hearing loss in the region. For instance, in May 2018, Cochlear ltd., Australia based cochlear implant manufacturer has expanded its first manufacturing facility in China through collaboration with Apple Inc., for creating technology that streams sound direct from iPhones to enhance users’ hearing capabilities

Key players operating in the binaural cochlear implant market include, Advanced Bionics AG and affiliates, Cochlear Ltd., MED-EL, William Demant Holding A/S, Oticon, Hangzhou Nurotron Biotechnology Co Ltd., and Shanghai Medical Technology Co., Ltd.

Binaural Cochlear Implant Market – Taxonomy

By Product Type

  • Body-worn Cochlear Implant
  • Ear-worn Cochlear Implant

By End Users

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centers

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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