Market Challenges And Opportunities

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.