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Telephone 0808 808 0123
Textphone 0808 808 9000
informationline@rnid.org.uk
RNID: For deaf and hard of hearing people.
Medical device companies missing out on lucrative cochlear market - 11 June 2007
New research by RNID, the national charity representing 9 million deaf and hard of hearing people in the UK, shows that millions of deaf people in Europe and the United States are unable to gain access to technology that could help them hear because it is too expensive.
Today's cochlear implant market is dominated by three global manufacturers; Cochlear Ltd, Advanced Bionics Corporation and Med-El Corporation who all use similar technology. They also manufacture in small volumes by hand, an expense passed on to public healthcare providers. This high cost, typically around $25,000, is a major factor in limiting the number of people benefiting from this life-changing device.
Our market research shows that such a device would enjoy considerable commercial success whilst benefiting people who may not have had access to it previously.
Dr Ralph Holme, Head of Biomedical Research at RNID, says: "There is a gap in the market for a medical device company to produce a low-cost implant by using more cost-efficient manufacturing practices. Our market research shows that such a device would enjoy considerable commercial success whilst benefiting people who may not have had access to it previously."
RNID will be participating at the BioDevice Partnering conference in Zurich, Switzerland (12-13 June 2007) to raise awareness and highlight this opportunity to the Medical Device industry.