The global auditory brainstem implant market size is expected to reach USD 82.18 Million in 2028 at a CAGR of 3.6% during the forecast period, according to latest report by Reports and Data. Increasing need for efficient auditory rehabilitation in patients with major cochlear malformations, growing prevalence of hearing loss across the globe, and rapid adoption of auditory brainstem implants to treat profound hearing loss are key factors expected to drive market revenue growth over the forecast period. In addition, increasing number of clinical trials to test efficiency and efficacy of auditory brainstem implants and recent advancements in external speech processor and receiver stimulator technology of ABIs are some other key factors expected to boost revenue growth of the market over the forecast period.
Auditory brainstem implant (ABI) is a neuroprosthetic device that delivers auditory sensations in patients who have compromised auditory nerve function or anatomical barriers that make them ineligible for cochlear implantation. Auditory brainstem implants were primarily designed for patients with type 2 neurofibromatosis, whose auditory nerve function was damaged during tumor removal procedures. The implants are being widely used to provide auditory perception in patients with severe to profound hearing loss. Over the recent past, selection and eligibility criteria for ABI patients has expanded and now includes non-NF2 patients with anatomical barriers such as temporal bone fracture, congenital malformations, and cochlear ossification. This is leading to increasing importance of auditory brainstem implants in clinical management of severe-profoundly deaf patients who have bilateral absent or destroyed cochlea and is expected to further contribute to revenue growth of the market over the forecast period.
Development and advancements in auditory brainstem implants that significantly enhance auditory perception in patients has led to increasing number of clinical trials for testing the safety and efficacy of these devices and is also a key factor expected to fuel revenue growth of the market going ahead. However, high costs of auditory brainstem implants and surgical procedures, shortage of skilled professionals, and low rate of adoption of ABIs in underdeveloped and developing countries can potentially restrain market growth to a certain extent during the forecast period.
Market Overview:
The pharma and healthcare industry is at a crossroads. Patients are benefiting from the promise of cell and gene therapies; uncommon diseases that were previously thought to be incurable are on the verge of finding true treatments. Artificial intelligence (AI) and machine-learning technologies are creating hopes that therapy discovery and development would be more innovative, as well as faster and cheaper. Manufacturing, the supply chain, and the entire healthcare ecosystem all have the potential to benefit from data-driven initiatives. Consumer attitudes and behaviours are shifting in a variety of ways, from growing use of technology and willingness to share data to an interest in using tools to make prescription and treatment decisions. Such factors will drive pharma and healthcare market growth in the coming years.
Key Players covered in this report are
Cochlear Limited, Med-EL, Oticon Medical, Nurotron’s Biotechnology Co. Ltd., Sonova Holding AG, Advanced Bionics, and Hangzhou Nurotron Biotechnology.
Medical Condition Outlook (Revenue, USD Million, 2018-2028)
- Major Cochlear Malformation
- Complete Cochlear Ossification
- Fracture of the Petrous Pyramid
- Axonal Neuropathy
- Auditory Nerve Tumors
- Complete Obliteration of both Auditory Nerves
Age Group Outlook (Revenue, USD Million, 2018-2028)
- Adults
- Pediatric
End Use Outlook (Revenue, USD Million, 2018-2028)
- Hospitals
- ENT Clinics
- Ambulatory Centers
- Others
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
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Major Points covered in this report are as below:
• The Auditory Brainstem Implant industry development trends and marketing channels are analyzed. The feasibility of new investment projects are assessed and overall research conclusions offered.
• With the tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
• Development policies and plans, manufacturing processes and cost structures are also analyzed. This report also states import/export consumption, supply and demand figures, cost, price, revenue and gross margins.
• The Auditory Brainstem Implant Market report provides key statistics on the market status of the Auditory Brainstem Implant manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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