Cochlear Implants Market

Introduction

Cochlear implants are used to treat the hearing problems in deaf patients. These implant has replaced the old hearing aid devices. Many manufacturers are involved in improving the quality and design of the cochlear implants. During the last few years, there has been a significant increase in the demand for cochlear implants. According to the research carried out by DeafandHoH.com LLC., in 2014, 360 million people worldwide were suffering from moderate to profound hearing loss. Additionally, according to the Centers for Disease Control and Prevention, by 2025, it is estimated that 900 million people across the globe are likely to suffer from hearing impairment of which around 90 million of these people may more likely from Europe.

Notably, rising geriatric population is the key factor driving the cochlear implant market. According to the U.S. Census Bureau (2015), 8.5% of people across the globe i.e., 617 million were over age 65.

Other push factors such as, increasing number of patients having hearing loss, acceptance of hearing implants by the patients with hearing disorders, and favorable reimbursement policies are also propelling the growth of the market. According to the National Institute on Deafness and Other Communication Disorders, in 2013, approximately 324,200 registered devices have been implanted worldwide.

However, the cost of impacts can be more than USD 100,000 which are not affordable to the middle-class population, thus, the high cost of the implants may hamper the growth of the market.

The global cochlear implants market is expected to reach USD 3,203.8 million by 2028 at a CAGR of 9.86% during the forecast period.

On the basis of product, market is segmented into the cochlear implant system, and accessories & upgrades. The cochlear implant system segment accounted for the largest market share of 77.7% during the forecast period.

On the basis of type, market is segmented into unilateral implant and bilateral implant. The bilateral implant market is expected to grow at a CAGR of 10.48% from 2017 to 2028.

On the basis of end user, market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others. The ambulatory surgical centers market is expected to grow at a CAGR of 10.22% from 2017 to 2028.

On the basis of regions, the market is segmented into Americas, Europe, Asia-Pacific and the Middle East & Africa. Americas captured a largest market share of around 41.1% in 2021 globally.

Key Players

Advanced Bionics AG, MED-El, Cochlear Ltd, GAES M?DICA, William Demant Holding Group, Widex, and Microson S.A

Study objectives

? To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global cochlear implants market

? To provide insights about factors influencing and affecting the market growth

? To provide historical and forecast revenue of the market segments and sub-segments with respect to countries

? To provide historical and forecast revenue of the market segments based on product, type, end user, and regions for the global cochlear implants market.

? To provide strategic profiling of key players in the market, and comprehensively analysing their market share, core competencies, and drawing a competitive landscape for the market

? To provide economic factors that influences the global cochlear implants market

? To provide detailed analysis of the value chain and supply chain of the global cochlear implants market

Target Audience

? Cochlear implants manufacturers

? Cochlear implants Suppliers

? Cochlear implants Distributors

? Medical Device companies

? Research and Development (R&D) Companies

? Medical Research Laboratories

? Academic Medical Institutes and Universities

Key Findings

? Americas accounted for the largest market share in the global cochlear implants market, USD 610.9 million in 2021 and expected to reach by USD 1,273.0 million by 2028 at a fastest CAGR of 9.40%

? Bilateral Implant type is the fastest growing segment with a CAGR of and 10.48% in the global cochlear implants market, by type

? Accessories & Upgrades segment is growing at a CAGR of 10.27% in the global cochlear implants market, by product

The reports also covers regional analysis

? Americas

o North America

? US

? Canada

o South America

? Europe

o Germany

o France

o U.K.

o Italy

o Spain

o Rest of Europe

? Asia Pacific

o Japan

o China

o India

o Republic of Korea

o Rest of Asia-Pacific

? Middle East & Africa

o Middle East

o Africa