Latin America Cochlear Implants Market is projected to register a substantial CAGR of 8.0% in the forecast period 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Drivers: Latin America Cochlear Implants Market
- Increasing prevalence of hearing loss
- Increasing awareness and training program
Restraints:
- Side effects of cochlear implant
- High cost of the cochlear implants and surgery procedure
Opportunity:
- Strategic initiative by the market players
Challenge:
- Availability of substitute
Market Trends:
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 2019, product segment is expected to dominate the Latin America cochlear implants market with largest market share due to increasing use of products for impairment of hearing loss. In 2015, there was import of approx. 132 devices and also 70 implants were purchased in Peru.
- On the basis of technology, the market is segmented into acoustic amplification technology, electro-stimulation technology and electro-acoustic stimulation.
- On the basis of age, the market is segmented into paediatrics and adults. In 2019, adults segment is expected to dominate the Latin America cochlear implants market with largest market share due to rising cases of hearing loss in adult patient as compared to pediatrics. As per the press release published by Cochlear Ltd (Australia) in 2017, more than 800,000 adults suffered from hearing loss in Brazil.
- On the basis of end-user, the market is segmented into hospitals, ENT clinics and ambulatory surgery centre.
- On the basis of distribution channel, the market is segmented into direct and indirect. In 2019, direct segment is expected to dominate the Latin America cochlear implants market with largest market share due to increasing direct supply of cochlear implants from manufacturer to hospitals as third parties such as retailers, traders, distributors and among others are by-passed which eventually provides better cost benefits to the end users.
Major Players: 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.
