“The cochlear implant market is essentially a captive market with low penetration and high growth potential.”
Vancouver, BC (PRWEB) January 15, 2015
January 15, 2015 – Vancouver, BC – According to a new report by iData Research (http://www.idataresearch.com), the leading global authority in medical device market research, the number of cochlear implant units sold in Brazil is expected to grow. This trend is a result of both patient awareness and acceptance, with respect to the benefits of cochlear implants.
“The cochlear implant market is essentially a captive market with low penetration and high growth potential”, explains Dr. Kamran Zamanian, CEO of iData. “In addition, existing unilateral patients receiving second surgical implants to achieve bilateral implantation is becoming more common.”
Other key findings from the 2015 edition of the iData Research report entitled Brazilian Market for Hearing Devices and Batteries:
- Limited Hearing Loss Treatments: Perception of risk with surgical implantation and upkeep of a cochlear device may lead some patients to be reluctant in seeking treatment. Cochlear implants are the only treatment option for those with profound hearing loss and a viable cochlea, a potential market with great growth opportunities.
- Patient Acceptance of Standard Hearing Aids Limits Market Growth: The increase in the aging population is expected to drive hearing aid sales. However, reluctance to use hearing aids is a continuing obstacle that the industry faces in maintaining market growth.
- Technological Innovation Driving Hearing Aid Battery Sales: Technological refinements that increase ease-of-use have been popular in the market over the past few years. Many of the newer hearing aids are smaller in size and have additional features such as Bluetooth® technology. These new innovations provide substantial benefit to the patient; however, they require a great deal more power than older models of hearing aids, and thus demand a greater number of batteries.
Cochlear and MED-EL led the cochlear implant market in Brazil in 2014 with a combined market share of over 75%. Manufacturers of cochlear implants differ on the numbers of electrodes used in their products. Market growth stems from those with damaged middle ears but viable cochleae, who are also unable to benefit from the use of standard hearing aids or from the latest models of high powered hearing instruments.
For Further Information
This in-depth look at the hearing device and battery market is part of a new report published by iData entitled “Brazil Hearing Devices and Batteries Market – 2015”, which covers the Brazilian market as a whole, as well as the following market sub-segments:
Hearing Aid Market by Style, Hearing Aid Market by Circuit, Bone-Anchored Hearing Air Market, Cochlear Implant Market, Hearing Air Battery Market
The global series on the “Hearing Device and Battery Market” covers 23 countries including the U.S., Mexico, China, India, Japan, South Korea, Australia, Brazil and 15 countries in Europe.
The full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment.
Register online or email us at info(AT)idataresearch.net for a Brazilian Market for Hearing Devices and Batteries report brochure and synopsis.
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.