Sunil Kumar Jha, Research Content Developer, Global Market Insights04.28.20
More than 5 percent of the world’s population (around 466 million people) have disabling hearing loss, while one in every ten people is likely to have disabling hearing loss by 2050. Following the FDA approval of cochlear implant devices for adults in 1985 and children in 1990, number of people who use cochlear implants has skyrocketed.
Cochlear implant technology has been consistently developing, leading to enhanced product performance. Cochlear implant systems have been an ideal alternative for people having severe hearing loss from inner-ear damage who no longer get benefits from hearing aids.
Demand for manufacturing affordable and aptly-fitted cochlear implants and follow-up services have risen in recent years. The WHO predicts unaddressed hearing loss may lead to annual cost of $750 million globally. According to the National Institutes on Deafness and other Communication Disorders, 2017, over 324,200 people globally had cochlear implants; while the U.S. had more than 96,000 people with cochlear implants.
Researchers and scientists are exploring if using a shortened electrode array can be instrumental for individuals whose hearing loss is confined to the higher frequencies, as it preserves their hearing of low frequencies. The outlook appears favorable as researchers are also researching the likely benefits of pairing a cochlear implant in one ear with another cochlear implant in the other ear.
Trends Underlining Pediatric Cochlear Implantation
Manufacturers of cochlear implants aim to derail the reorganization of the immature auditory brain and boost growth of hearing and spoken language. Several findings have revealed many children with unilateral cochlear implants witness thalamo-cortical responses with long-term use.
Several studies have claimed when children receive a cochlear implant followed by intensive therapy before they are 18 months old, they tend to assess music and sound, hear, and speak better than their counterparts who get cochlear implants when they were older. Studies have also claimed children who receive the implant before turning 18 months old develop language skills on par with children with normal hearing.
Of late, there has been increased traction toward unilateral cochlear implantation to underpin the growth of normal-like activity in the auditory pathways in the long run. Though there are complications with using unilateral cochlear implants, several children have witnessed tremendous oral communication and listening abilities. Prominently, unilateral cochlear implant systems have become highly sought-after for they help in restoring hearing and promoting auditory growth.
The Rising Popularity of Bilateral Implants
The bilateral cochlear implant has become one of the most highly sought after implant systems globally as it helps offer hearing in 360 degrees. With the ability to separate a single voice from background noise and decide which way sound is coming from, the bilateral cochlear implant has become a top-notch solution.
Increased usage of bilateral cochlear implants has meant increased connection and more balanced perception of sound, making these implant systems highly lucrative. Several studies have revealed bilateral cochlear implantation can boost the recipient’s performance.
Leading companies are expanding their market penetration as a slew of bilateral implant systems offer better sound clarity, greater ease in assessing group conversation, more acoustical balance, and less fatigue. Moreover, bilateral implant systems help do away with the complications when external equipment breaks.
Adults and older children with previous speech and language development tend to perform better with cochlear implant systems compared to children with severe to intense sensorineural hearing loss.
What Has Changed in the Space in the Last Five Years?
While external devices have become a lot smaller and lighter in weight, more advanced microphones are picking up sound, and better software with faster processors are being implemented. Implanted devices have become lighter, electronically smarter, and smaller wherein these devices have the ability to send information back to the external device. Prominently, they occupy less space and need less surgical exposure. Advanced sound processing software is helping to adjust patient hearing and enable more natural sounding hearing.
The emergence of combined electric and acoustic stimulation (EAS) that underpins the natural residual hearing by boosting low-frequency sounds and high-frequency restoration has been quite a trend in this industry. Cochlear implant recipients who can combine hearing modalities have exhibited compelling upsides in listening in background noise, speech recognition, and music appreciation. Though implantation was witnessed merely in recipients with increased hearing loss, developments in sound processing techniques have leveraged more patients with low-frequency residual hearing.
Developments in high-frequency electric hearing to low-frequency acoustic hearing have enabled preservation of low-frequency hearing in cochlear implant recipients, leveraging EAS in the same ear with enhancements in sound localization, speech perception, quality of life, and music appreciation.
At a time when stakeholders are eyeing to leave no stone unturned to boost portfolios, forward-looking companies such as Cochlear Limited, MED-EL, and Sonova are contemplating product rollouts and postponing share buybacks. For instance, Cochlear Limited received the green signal from the U.S. FDA for its “remote check solution.” The at-home testing tool, Remote Check, lets cochlear recipients undertake a series of hearing tests from a compatible iOS device. Commercialization is likely to occur in Q4 2020.
In January 2020, MED-EL rolled out a next-gen audio processor, Sonnet 2, that will connect to tablets and smartphones using Bluetooth and a new novel AudioLink device. The product may help cochlear implant users with the latest wireless connectivity and audio processing technology. The company has stated the processors are programmed using FDA-approved MAESTRO 8 software.
Amid the pervasive impact of COVID-19 pandemic on the cochlear implant systems industry, Sonova suspended its share buyback on March 16. The company has stated it has additional access to financing via existing credit lines and has a healthy cash position.
COVID-19's Impact on Cochlear Implant Systems
The COVID-19 epidemic is likely to have a considerable impact on cochlear implant systems industry as the market may have to face the brunt of the global economic and health crisis. In a bid to derail the growth of the virus, palpable restrictions in leading markets are having a repercussion on the healthcare industry.
The COVID-19 impact is speculated to be ephemeral, as the attractive fundamentals of the cochlear implant systems market remain intact. Once the situation comes back to normal, the industry is anticipated to pick up the pace. Owing to the critical nature of the implants, growth in the industry is imminent.
The urgency and demand for the implants paints a positive picture for the industry. Leading companies are expected to adopt measures to curb the impact of COVID-19 to stay competitive in the market. Strict cost control measures are likely to be implemented by prominent companies across the globe.
Per Global Market Insights Inc., cochlear implant systems market size may surpass $2.5 billion by 2024. Stakeholders are also expected to emphasize significance of bilateral implants and inject funds into R&D to gain traction in the next four years.
Sunil Jha has been a part of the content industry for two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles across numerous topics, ranging from business and technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of intensive research and a strategic approach in his pieces.
Cochlear implant technology has been consistently developing, leading to enhanced product performance. Cochlear implant systems have been an ideal alternative for people having severe hearing loss from inner-ear damage who no longer get benefits from hearing aids.
Demand for manufacturing affordable and aptly-fitted cochlear implants and follow-up services have risen in recent years. The WHO predicts unaddressed hearing loss may lead to annual cost of $750 million globally. According to the National Institutes on Deafness and other Communication Disorders, 2017, over 324,200 people globally had cochlear implants; while the U.S. had more than 96,000 people with cochlear implants.
Researchers and scientists are exploring if using a shortened electrode array can be instrumental for individuals whose hearing loss is confined to the higher frequencies, as it preserves their hearing of low frequencies. The outlook appears favorable as researchers are also researching the likely benefits of pairing a cochlear implant in one ear with another cochlear implant in the other ear.
Trends Underlining Pediatric Cochlear Implantation
Manufacturers of cochlear implants aim to derail the reorganization of the immature auditory brain and boost growth of hearing and spoken language. Several findings have revealed many children with unilateral cochlear implants witness thalamo-cortical responses with long-term use.
Several studies have claimed when children receive a cochlear implant followed by intensive therapy before they are 18 months old, they tend to assess music and sound, hear, and speak better than their counterparts who get cochlear implants when they were older. Studies have also claimed children who receive the implant before turning 18 months old develop language skills on par with children with normal hearing.
Of late, there has been increased traction toward unilateral cochlear implantation to underpin the growth of normal-like activity in the auditory pathways in the long run. Though there are complications with using unilateral cochlear implants, several children have witnessed tremendous oral communication and listening abilities. Prominently, unilateral cochlear implant systems have become highly sought-after for they help in restoring hearing and promoting auditory growth.
The Rising Popularity of Bilateral Implants
The bilateral cochlear implant has become one of the most highly sought after implant systems globally as it helps offer hearing in 360 degrees. With the ability to separate a single voice from background noise and decide which way sound is coming from, the bilateral cochlear implant has become a top-notch solution.
Increased usage of bilateral cochlear implants has meant increased connection and more balanced perception of sound, making these implant systems highly lucrative. Several studies have revealed bilateral cochlear implantation can boost the recipient’s performance.
Leading companies are expanding their market penetration as a slew of bilateral implant systems offer better sound clarity, greater ease in assessing group conversation, more acoustical balance, and less fatigue. Moreover, bilateral implant systems help do away with the complications when external equipment breaks.
Adults and older children with previous speech and language development tend to perform better with cochlear implant systems compared to children with severe to intense sensorineural hearing loss.
What Has Changed in the Space in the Last Five Years?
While external devices have become a lot smaller and lighter in weight, more advanced microphones are picking up sound, and better software with faster processors are being implemented. Implanted devices have become lighter, electronically smarter, and smaller wherein these devices have the ability to send information back to the external device. Prominently, they occupy less space and need less surgical exposure. Advanced sound processing software is helping to adjust patient hearing and enable more natural sounding hearing.
The emergence of combined electric and acoustic stimulation (EAS) that underpins the natural residual hearing by boosting low-frequency sounds and high-frequency restoration has been quite a trend in this industry. Cochlear implant recipients who can combine hearing modalities have exhibited compelling upsides in listening in background noise, speech recognition, and music appreciation. Though implantation was witnessed merely in recipients with increased hearing loss, developments in sound processing techniques have leveraged more patients with low-frequency residual hearing.
Developments in high-frequency electric hearing to low-frequency acoustic hearing have enabled preservation of low-frequency hearing in cochlear implant recipients, leveraging EAS in the same ear with enhancements in sound localization, speech perception, quality of life, and music appreciation.
At a time when stakeholders are eyeing to leave no stone unturned to boost portfolios, forward-looking companies such as Cochlear Limited, MED-EL, and Sonova are contemplating product rollouts and postponing share buybacks. For instance, Cochlear Limited received the green signal from the U.S. FDA for its “remote check solution.” The at-home testing tool, Remote Check, lets cochlear recipients undertake a series of hearing tests from a compatible iOS device. Commercialization is likely to occur in Q4 2020.
In January 2020, MED-EL rolled out a next-gen audio processor, Sonnet 2, that will connect to tablets and smartphones using Bluetooth and a new novel AudioLink device. The product may help cochlear implant users with the latest wireless connectivity and audio processing technology. The company has stated the processors are programmed using FDA-approved MAESTRO 8 software.
Amid the pervasive impact of COVID-19 pandemic on the cochlear implant systems industry, Sonova suspended its share buyback on March 16. The company has stated it has additional access to financing via existing credit lines and has a healthy cash position.
COVID-19's Impact on Cochlear Implant Systems
The COVID-19 epidemic is likely to have a considerable impact on cochlear implant systems industry as the market may have to face the brunt of the global economic and health crisis. In a bid to derail the growth of the virus, palpable restrictions in leading markets are having a repercussion on the healthcare industry.
The COVID-19 impact is speculated to be ephemeral, as the attractive fundamentals of the cochlear implant systems market remain intact. Once the situation comes back to normal, the industry is anticipated to pick up the pace. Owing to the critical nature of the implants, growth in the industry is imminent.
The urgency and demand for the implants paints a positive picture for the industry. Leading companies are expected to adopt measures to curb the impact of COVID-19 to stay competitive in the market. Strict cost control measures are likely to be implemented by prominent companies across the globe.
Per Global Market Insights Inc., cochlear implant systems market size may surpass $2.5 billion by 2024. Stakeholders are also expected to emphasize significance of bilateral implants and inject funds into R&D to gain traction in the next four years.
Sunil Jha has been a part of the content industry for two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles across numerous topics, ranging from business and technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of intensive research and a strategic approach in his pieces.
