Leading producers are concentrating on creating innovative items for the cochlear implant market globally. For instance, Cochlear Limited announced the creation of a cochlear implant that can be implanted permanently in October 2018. In a single-site study, 11 patients' data were gathered by the company, and the results were further correlated with the effectiveness and safety of permanently implantable cochlear implant technology, which can be used with an optional externally worn sound processor to give people continuous hearing. A HiRes Ultra 3D Cochlear Implant from Advanced Bionics was made available in June 2019 for patients who might need to undergo MRI tests at some point in their lives, saving them the trouble and discomfort of having to have the new multi-magnet assembly and head bandaging physically removed. The prevalence of hearing loss among youngsters and the ageing population worldwide is anticipated to increase demand for these goods. For instance, the World Health Organisation (WHO) estimates that 466 million people worldwide have permanent hearing loss as of 2019, 34 million of them are children.
Coherent Market Insights projects that the market for Cochlear Implants was estimated to be worth USD 1.6 billion in 2022 and is anticipated to increase at a CAGR of 8.91% from 2023 to 2030.
Leading Companies in the Cochlear Implants Industry:
1. Valtronic
The business was founded in 1982 and is based in Vaud, Switzerland. Valtronic is a multinational contract producer of electronic medical devices with a focus on microelectronics, active implants, and challenging box constructions. The business offers engineering and contract manufacturing services for the high-tech and medical device industries, specialising in implantable electronics and micro mechanics.
2. Nurotron Biotechnology Co. Ltd.
The company was founded in 2006 and is located in Hangzhou, China. A medical device firm called Nurotron Biotechnology creates, develops, and markets cochlear implant devices. The business sells sophisticated electronic devices and is a high-tech enterprise.
3. Cochlear Ltd.
The firm was started in 1983 and has its main office in Sydney, Australia. The company sells its hearing implant systems domestically and abroad, including the Nucleus and Baha models. The BAHA 6 Max Sound Processor, which was smaller than the processor from the previous generation, was produced by the business in 2021 for those with BAHA implants. The Kanso 2 is a contemporary sound processor for cochlear implants that was introduced in 2020.
4. MED-EL Medical Electronics.
The company was established in 1990 and has its main office in Innsbruck, Austria. MED-EL is a multinational provider of medical technology with a focus on hearing implants and instruments. They design and produce items like bone conduction systems, middle ear implants, and cochlear implants. With their new S-Vector magnet invention, MED-EL raises the bar for CI magnet design in March 2021.
5. Oticon Medical
The business was established in 1904 and is based in Denmark. The business offers cochlear implants, implanted hearing devices, and bone conduction hearing aids. Ponto 5 SuperPower is set to Launch in March 2022, Per Oticon Medical Launch of the Neuro Zti MRI 3T Implant was announced by Oticon Medical in August 2021.
6. Demant A/S,
The company was started in 1904 and is based in Denmark. In the fields of hearing aids, audiometric devices, and personal communication, Demant A/S is a global leader in the field. Demant stated in April 2022 that it would stop manufacturing hearing implants and that it had reached an agreement to sell Oticon Medical to the Australian company Cochlear Limited for DKK850 million. Demant paid RMB 1.8 billion to acquire Chinese retailer ShengWang in June 2022.
7. Sonova
The business was founded in 1947 and is based in Switzerland. In addition to offering hearing care services, the business also creates, develops, and produces hearing technologies, including cochlear implant systems and wireless communication systems for audio applications.
*Definition: A small, sophisticated electronic device called a cochlear implant gives deaf or hard-of-hearing people a sense of sound. Hearing loss can be brought on by genetic defects, maternal illnesses, congenital cytomegalovirus (CMV) infection during pregnancy, and other reasons.
