Latin America Cochlear Implants Market By Type (Product, Accessories, Software), Technology (Acoustic Amplification Technology, Electro-Stimulation Technology, Electro-Acoustic Stimulation), Age (Paediatrics, Adults), End User (Hospitals, ENT Clinics, Ambulatory Surgery Centre), Distribution Channel (Direct, Retail), Countries (Brazil, Mexico, Argentina, Chile, Peru, Colombia, Ecuador, Rest of Latin America) – Industry Trends and Forecast to 2026
Cochlear implant is an electronic medical device, which is short featured but complex structure, helps in delivering the sound sensation to person who is suffering with deafness or hearing problem. The implant is made up of two portion, external portion and internal portion, including a microphone, a speech processor, receiver, and an electrode array which collect the impulses from the stimulator and sends them to different parts of the hearing or auditory nerve.
Cochlear implants, a surgically implanted neuro-prosthetic medical device, have replaced the old hearing aid devices due to their limited benefits and also they have better sound amplification as well as also stimulate the auditory nerves by bypassing the damaged portion of the ear and hence restore the hearing ability of the patients.
Latin America cochlear implants market is projected to register a substantial CAGR in the forecast period of 2019 to 2026.
Segmentation: Latin America Cochlear Implants Market
Latin America cochlear implant market is segmented into five notable segments which are on the basis of type, technology, age, distribution channel and end user.
- On the basis of type, the market is segmented into product, accessories and software.
- In September 2019, GN Hearing and Cochlear Ltd. announced their collaboration along with Google, to support direct android streaming to hearing device by using Bluetooth low energy. This product will expand the accessibility to more consumer technology, and will able to expand the market.
- On the basis of technology, the market is segmented into acoustic amplification technology, electro-stimulation technology and electro-acoustic stimulation.
- In February 2019, new strong company WS Audiology formed through merger between WIDEX A/S and Sivantos. This merger will increase the revenue of both the companies.
- On the basis of age, the market is segmented into paediatrics and adults.
- In January 2019, Cochlear Ltd. introduced its industry leading implantable hearing devices at the Consumer Electronics Show, named as Cochlear Nucleus implant technology. This new technology will be able to give patient a better hearing solution
- On the basis of end-user, the market is segmented into hospitals, ENT clinics and ambulatory surgery centre.
- In May 2018, Medtronic announced that it would participate in the Goldman Sachs 39th Annual Global Healthcare Conference which was held on 12th June in Rancho Palos Verdes, U.S. This would help in enhancing the customer base of the company.
- On the basis of distribution channel, the market is segmented into direct and indirect.
- In, April 2018, WIDEX A/S launched its new product Widex Evoke, with advance feature like machine learning technology. This will help the customers with benefits of use.
Competitive Analysis: Latin America Cochlear Implants Market
Some of the major players operating in the Latin America cochlear implants market are Cochlear Ltd., Advanced Bionics AG, Oticon A/S, MED-El, Medtronic, Nurotron Biotechnology Co. Ltd, WIDEX A/S among others.
- In July 2019, Advanced Bionics AG introduced new wireless connectivity accessory, named as Naída CI Connect. This accessory is having advanced technology, which will help the implant wearer to the fullest. This launch will expand the market, and give customer satisfaction.
- In July 2019, MED-EL announced the product and software launch named as Sonnet 2 & Maestro 8 fitting software. Sonnet 2 will be the best sound processor, its advanced technology will lead the successful result for both professionals and users. Maestro 8 software will help clinicians to work without any obstacles.
- In July 2019, Advanced Bionics AG launched Active Insertion Monitoring (AIM) System. This will help in monitoring the function of the cochlea during electrode insertion. This system is fast and convenient. This system will help the professionals at the end level.
Research Methodology: Latin America Cochlear Implants Market
Primary Respondents: Key Opinion Leaders (KOL’s): Doctors, Nurses, Manufacturers, Researchers and Distributors. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and National Sales Managers.