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Auditory Brainstem Implant Market Size to Reach USD 82.18 Million in 2028 | Reports And Data

Reports And Data

Reports And Data

Increasing preference for ABIs in patients with cochlear malformations

NEW YORK, NY, UNITED STATES, December 17, 2021 /EINPresswire.com/ -- 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.

Top Companies operating in the market and profiled in the report include:

Cochlear Limited, Med-EL, Oticon Medical, Nurotron’s Biotechnology Co. Ltd., Sonova Holding AG, Advanced Bionics, and Hangzhou Nurotron Biotechnology.

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The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.

Increasing expenditure on R&D, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Auditory Brainstem Implant market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers & acquisitions, joint ventures, collaboration, and product launches, among others.

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Some Key Highlights from the Report:

• Major cochlear malformation segment is expected to register robust revenue growth over the forecast period attributed to increasing incidence of inner ear malformations across the globe, rapid adoption of auditory brainstem implants as effective treatment modality for patients with severe inner ear malformations, and rising use of ABIs to treat profound congenital hearing loss in children.

• Pediatric segment is expected to account for largest revenue share over the forecast period due to rising preference for auditory brainstem implantation surgeries to treat congenital hearing loss caused due to anomalies such as cochlear, labyrinth, and cochlear nerve aplasia, rising incidence of hearing loss in children, and enhanced post-operative outcomes.

• Hospital segment is expected to register significantly high revenue CAGR over the forecast period attributable to increasing availability of skilled professionals, accessibility to advanced medical and surgical facilities, and availability of cost-effective and affordable treatment options.

• North America is expected to account for largest revenue share over the forecast period attributable to rising prevalence of sensorineural hearing loss among children, technological advancements in auditory brainstem implants, and presence of well-developed healthcare medical and surgical facilities.

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For the purpose of this report, Reports and Data has segmented the global auditory brainstem implant market based on medical condition, age group, end use, and region:

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

The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, R&D and technological advancements, and growth prospects.

Key Regions Assessed in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Germany, Italy, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

The report further segments the global Auditory Brainstem Implant market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.

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About Reports and Data

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