Press Release: February 20, 2017
“The increasing prevalence of hearing loss among people is driving the Global Hearing Implants Market”, says RNCOS.
Hearing loss is a major public health concern with substantial economic and societal costs. It can be caused due to a number of reasons, like repeated exposure to loud noises, genetic inheritance, viral infection, head injury, autoimmune condition, and stroke. According to new report by RNCOS, named, “Global Hearing Implants Market Outlook 2020”, hearing loss can have devastating consequences for interpersonal communication, psychosocial well-being, quality of life, and economic independence.
If it develops in the young, such impairment impedes speech and language development and sets the affected children on a trajectory of limited educational and vocational attainment. In adulthood, hearing loss can lead to loneliness, social isolation and stigmatization, prejudice, psychiatric disturbance, depression, difficulties in relationships with partners and children, restricted career choices, occupational stress, and relatively low earnings.
Apart from consequences to the individual person, hearing loss also leads to high costs to society. There are many factors, such as noise, genetic conditions, complications at birth, certain infectious diseases, chronic ear infections, the use of particular drugs, and ageing, that are causing rise in the number people suffering from hearing loss. More than 700 Million people suffered from hearing loss of more than 25db in 2015.
The majority of people with disabling hearing loss live in low and middle-income countries. The number of people suffering from hearing loss of more than 25db is estimated to increase to a value of more than 900 Million by 2025. This data highlights the rising prevalence of hearing loss in people all over the world. Hearing implants are a better alternative as compared to the other devices, such as hearing aids, that which help people with hearing loss. Therefore, the global market for hearing implants is bound to increase at a steady pace in the coming years due to the rise in the demand of these devices.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
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