Auditory Brainstem Implant Market To Reach USD 76.9 Million By 2026 | Reports And Data

New york, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Favorable government initiatives & reimbursement policies, collaborations for technical efficiency in auditory brainstem implants, increasing awareness and rising penetration rate in new markets are key factors contributing to high CAGR of Auditory Brainstem Implant market during the forecast period.

According to the current analysis of Reports and Data, the global Auditory Brainstem Implant market was valued at USD 57.7 Million in 2018 and is expected to reach USD 76.9 million by the year 2026, at a CAGR of 3.6%. An auditory brainstem implant (ABI) is operated on people suffering from profound sensorineural hearing loss. The auditory brainstem implants directly aids in the functioning of the hearing pathway of the brainstem without any interaction with the hearing nerve or inner ear which involves a complex neurosurgery to the brainstem. The major use of this procedure is for the adults diagnosed with neurofibromatosis type 2, a rare genetic disorder which causes development of tumors on the nerve. However it is being operated now on children as well as adults with other inner ear and nerve abnormalities. One of the initial hearing aid machines for brainstem implants were by Cochlear Ltd.'s, a leading company in electronic hearing machines industry, Nucleus 24 ABI for teenagers and adults which got FDA approved in the year 2000. In recent years few other machines have gained popularity due to their MRI compatible machines. The machine comprises of a receiver/stimulator, a pocket sized speech processor worn on the body, and the microphone/headset. Other applications of this procedure is associated with people who do not have operational hearing nerve in either ear, or with deaf people due to their abnormally shaped cochlea. Factors responsible for hearing loss includes complication present by birth, infectious diseases, genetic origins, chronic infections of ear, contact to excessive noise, through consumption of particular drugs, and ageing.

According to World Health Organization, approximately 466 million people across the globe have disabling hearing loss, out of which 34 million are children. It is projected that by 2050 around 900 million individuals will have disabling hearing loss. These dynamics are likely to affect the ABI market in the future. Other factors such as the rising geriatric population, increasing incidence of hearing loss by birth, and rising noise pollution issues around the globe are anticipated to drive the market. However the brainstem implants are associated with few risks during and after the implantations which will impede the growth of this industry.

ABI is generally adopted if the patient cannot be benefited from the commonly operated hearing aid or cochlear implants. The cochlear implants cannot be operated in conditions when the hearing nerve is very small in size or is completely absent and in some rare cases the inner ear is severely abnormal. The auditory brain implants market has attained significant advances in the recent years. The innovations in the neuroprosthetic technology is anticipated to support the cochlear implants adoption that include auditory brainstem implants. The auditory brainstem implantation technique is more complex than the cochlear implantation, but the device provides significant advantages to the patients with some unmet needs. It also benefits hearing loss patients in lip reading along with sound recognition.

Based on regional perspective, North America holds the largest share in surgeries associated with brainstem. Asia Pacific is a growing market and is expected to grow at the highest rate in the future due to their huge consumer base, mainly in developing areas such as India and China. The increasing healthcare expenditure is likely to propel the market.

Furthermore, increased government initiatives, availability of research funds from private as well as public bodies, improvement in the reimbursement scenario for hearing associated implantation, and rising awareness about benefits of auditory brainstem implant are among the key factors propelling the growth of Auditory Brainstem Implant market.

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Further key findings from the report suggest

• According to CDC, (Center for Disease Control and Prevention), over 30% of the total hearing loss complications after birth are caused by infections during pregnancy, environmental causes and certain complications after birth. Moreover according to the data, nearly 50-60% of the cases of hearing loss in children are due to the genetic defects which leads to further complications.
• Current cochlear implants are unable to regain hearing in patients with inner ear injury. It is required to have a direct electrical stimulation of the auditory brainstem, which can be achieved using an ABI. The success of neuroprosthetic ABIs has been limited, with patients often only recovering sound perception rather than full hearing.
• The clinical ABI machines are stiff and creates hindrance in hearing due to the brainstem's curved shape. A research Institute of Switzerland called EPFL with clinicians from Harvard Medical School and Massachusetts Eye and Ear developed a new implant device of soft electronic interface made from a pliable platinum array. This device is elastic and comfortable to be fitted around the curvature of the brainstem.
• North America remains the key revenue generating geographical segment in Auditory Brainstem Implant market. The geographical segment accounted for USD 20.8 million in 2018. Availability of research funds from public as well as private sources, availability of state-of-art technologies, presence of key market players in the region, favorable reimbursements for implantation procedures, rising focus on precision devices, and rising awareness about effectiveness of implantation surgeries, are among the key factors driving the market growth for Auditory Brainstem Implant in this region
• The global Auditory Brainstem Implant market is highly fragmented with major players like Cochlear Limited (Australia), Med-EL (Austria), Oticon Medical (Denmark), Nurotron's Biotechnology Co. Ltd. (China), Sonova Holding AG (Switzerland) collectively constituting a competitive market.

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Segments covered in the report:

For the purpose of this report, Reports and Data has segmented the Auditory Brainstem Implant market on the basis of medical condition, components used, end users and region:                     

Medical Condition Outlook (Revenue in Million USD; 2016–2026)

• Major Cochlear Malformation
• Complete Cochlear Ossification
• Fracture of the Petrous Pyramid
• Axonal Neuropathy
• Auditory Nerve Tumours
• Complete Oliteration of both Auditory Nerves

Components Outlook (Revenue in Million USD; 2016–2026)     

• Microphone
• Decoding Chip
• Electrodes

End User Outlook (Revenue in Million USD; 2016–2026)     

• Adults
• Pediatric

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Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of the Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia-Pacific
• Middle East & Africa
  • Latin America
• Brazil

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