Lewes, DE -- (SBWIRE) -- 02/18/2016 -- Report forecast the global cochlear implants market to grow at a CAGR of 14.61% during the period 2016-2020.

A cochlear implant is a surgically implanted complex electronic device that helps overcome complications in the inner ear or cochlea. This implant consists of two major components: an external component known as the sound processor and an internal component known as the implant. The sound processor receives sound waves and processes them into detailed digital information.

The implant converts the digital information into electrical information, which is sent to the auditory nerve from an electrode array placed inside the cochlea. The auditory nerve sends impulses to the brain, where these sound waves are processed and interpreted.

The report covers the present scenario and the growth prospects of the global cochlear implants market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of various cochlear implants that are sold globally.

The market is divided into the following segments based on geography:
- APAC
- EMEA
- Americas

According to the report, increase in the customization of cochlear implant devices will drive the market. Most leading cochlear implant device manufacturers are customizing and developing their product lines to attract consumers and stay ahead of the competition. Manufacturers are also focusing on innovation and offering products with upgrades, especially in sound processors. These next-generation sound processors consist of technologically advanced chips, thereby increasing the demand for the product in the market.

Further, the report states that high cost of cochlear implant devices is likely to hinder market growth.

Global Cochlear Implants Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Cochlear Implants Market: Cochlear, MED-EL, Sonova and William Demant.

Other Prominent Vendors in the market are: Microson and Nurotron Biotechnology.

Market driver
- Rise in product customization
- For a full, detailed list, view our report

Market challenge
- High cost
- For a full, detailed list, view our report

Market trend
- Introduction of rechargeable cochlear implant devices
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 52 pages and 23 Exhibit "Global Cochlear Implant Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market Overview, Market Landscape, Cost analysis of cochlear implants, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-cochlear-implant-market-2016-2020

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