Industry Overview
One of the consequences of this tech-filled hustle bustle of
life is hearing impairment. In addition to this, Hearing loss is a problem caused
by genetic discrepancies or old age. This consequently provides a wide scope
for Hearing implants market globally. The demand of hearing aids is expected to
rise owing to increase in number of cases of hearing losses in hospitals and
dispensaries. This is particularly due to the advancements in technology and
increasing inclination towards health awareness owing to government and insurance
policies, the hearing implants sector of medical instruments is expected to
witness quite a high increase in sales in the near future. The industry
research report – ‘South
Korea Hearing Implants Market Outlook to 2025’ – provides the overview
of the industry, parameters affecting the market and relevant forecasts,
technological development in this field and its affect on the working of the industry
and the future scope of the overall market in South Korea.
Market Scope and
Technological advancements
The end users of hearing aids, such as cochlear implants,
bone anchored hearing implants and middle ear implants, are adult population
and pediatrics. The advancements in technology in the field of medicine provides
a scope for improvements in the hearing aid instruments which can cater to more
growing demands of innovation such as digital waterproof hearing aid or
features like watching TV easily through Bluetooth. Innovations through
artificial intelligence will provide a boost to the industry in following
years. The penetration of internet has made it possible for the vendors to sell
their products to a wider and diverse customer base through e-commerce channels
such as Amazon. Not only these e-commerce channels, government policies such as
one in Australia which provides free hearing aids to their pension receiving citizens
provides quite a demand for these products.
Leading players and Geography
As the industry requires continuous investment in research
and development, many firms invest in continuously developing their products. Phonak
and Sonova are such organizations which have made Korea among the Big 4 in the Asia-
Pacific geographical region of the global hearing aid industry. The hearing aid
market is stretched globally across North America, Europe, Asia Pacific and
other countries such as Brazil and Turkey. There are many global leading
players such as Cochlear Ltd, Widex and Oticon in this industry. Sonova’s
invention of sword Chips which are used in instruments such as Audio B-Direct
which helps in watching TV using Bluetooth. These are such technological
advancements that can pave the way for the higher growth and revenue rates for
the industry in near future.
Future Outlook of the South
Korea Hearing Implant Industry
In the upcoming years, it is forecasted that by 2025, the
industry is expected to witness a high trend in its growth. The introduction of
artificial intelligence provides a way to innovate and produce products that can
revolutionize the simple hearing aids into instruments with unique features to
satisfy more upcoming and trendy demands, other than just the act of hearing, by
the customers. Currently, the leading innovation centre for the industry is
known to be Denmark but in near future, there is a possibility of more emerging
innovation centres as organizations are vested in developing their products and
investing more profusely in their research and development. In addition to
that, growing medical awareness among people is expected to give the desired push to the demand of these products in increasing direction.
For
more information on the research report, refer to below link:
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Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
