Rapid advancements in the neuroprosthetic technology, rising number of clinical trials for effective management of ABIs, and technological advancements in hearing devices are some key factors expected to drive market growth.
Rapid advancements in the neuroprosthetic technology, rising number of clinical trials for effective management of ABIs, and technological advancements in hearing devices are some key factors expected to drive market growth
New York, December 15, 2021 – Reports and Data has published its latest report titled “Auditory Brainstem Implant Market By Medical Condition (Major Cochlear Malformation, Complete Cochlear Ossification, Fracture of the Petrous Pyramid, Axonal Neuropathy, Auditory Nerve Tumors, Complete Obliteration of Both Auditory Nerves), By Age Group (Adults, Pediatric), By End Use (Hospitals, ENT Clinics, Ambulatory Centers) and Region Forecasts to 2028”
According to the latest report by Reports and Data, the global auditory brainstem implant market size was USD 61.92 Million in 2020 and is expected to reach USD 82.18 Million in 2028 and register a revenue CAGR of 9.3% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities
Hearing is provided by an auditory brainstem implant to patients who cannot benefit from a hearing aid or a cochlear implant. Auditory brainstem implant stimulates the brainstem’s hearing circuits directly, bypassing the ear (inner) and hearing nerve to help detect sounds. This implants have three main parts: microphone and sound processor, decoding chip, and electrodes. Normal hearing is not restored by an auditory brainstem implant. However, it aids most individuals in distinguishing sounds like phone rings and automobile horns. Some people can recognize words quickly, while others rely on more generic sound cues. Increasing adoption of auditory brainstem implants to treat hearing disabilities is a key factor expected to fuel revenue growth of the auditory brainstem implant market.
In addition,, technological advancements in auditory brainstem implants, increasing number of clinical trials for testing Automated Biometric Identification System (ABIs) in children, and rising prevalence of inner ear and nerve abnormalities are other factors contribute to revenue growth of the market. However, high costs associated with auditory brainstem implants and rising number of complications such as wound infections, cerebrospinal fluid leaks, facial nerve weakness, and incomplete tumor removal, are factors expected to restrain auditory brainstem implant market revenue growth during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Pediatric Segment to Lead in Terms of Revenue Share:
Pediatric segment is expected to account for largest revenue share in the global market over the forecast period attributed to rising auditory brainstem implantation surgery owing to increasing incidence of congenital profound hearing loss with anomalies in children worldwide. The patients with severe Sensorineural Hearing Loss (SNHL) who are ineligible for auditory nerve surgery or scarring of the ear (inner) caused by trauma or infection have discovered that auditory brainstem implant surgery is extremely effective.
Hospital Segment to Register Significant Revenue Growth:
Hospital segment is expected to register significant revenue growth over the forecast period due to improved post-operative facilities, large scale adoption of advanced diagnostic equipment, and rising government initiatives to increase accessibility of advanced healthcare facilities. In addition, availability of cost-effective and affordable treatment options in hospitals related to conditions of ears, nose, and throat drive revenue growth of the segment.
North America to Register Robust Revenue Growth:
North America is expected to register robust revenue growth over the forecast period attributable to rapid technological advancements in treatment of hearing loss in patients suffering from inner ear abnormalities, and rising incidence of sensorineural hearing loss in the United States among adults and children. According to current statistical analysis, around 13 per cent of the population in the U.S. – including those aged 12 and older – has hearing loss in both ears, and about 2 per cent of adults have disabling hearing loss.
Asia Pacific Accounted for Largest Revenue Share in 2020:
Asia Pacific is expected to account for largest revenue share in the global market in 2020 over the forecast period attributable to increasing technological advancements in hearing devices, and growing network of dedicated ENT (ears, nose and throat) hospitals. Further, ongoing awareness programs such as conferences to increase adoption of auditory brainstem implants and cochlear implants, in APAC countries such as India, and China drive revenue growth of the market.
Major Companies in the Market Include:
- Cochlear Limited
- Med-EL
- Oticon Medical
- Nurotron’s Biotechnology Co. Ltd.
- Sonova Holding AG
- Advanced Bionics
- Hangzhou Nurotron Biotechnology
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented global auditory brainstem implant market based on medical condition, age group, end use, and region:
Medical Condition Outlook (Revenue, USD Million, 2018-2028)
- Major Cochlear Malformation
- Complete Cochlear Ossification
- Fracture of the Petrous Pyramid
- Axonal Neuropathy
- Auditory Nerve Tumors
- Complete Obliteration of both Auditory Nerves
Age Group Outlook (Revenue, USD Million, 2018-2028)
- Adults
- Pediatric
End Use Outlook (Revenue, USD Million, 2018-2028)
- Hospitals
- ENT Clinics
- Ambulatory Centers
- Others
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Regional Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Israel
- Rest of MEA
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