Cochlear Implant Market
Cochlear Implant Market Analysis By Fitting Type (Unilateral Implants, Bilateral Implants), By End Use (Adult, Pediatric) and By Region - Global Market Insights 2022 to 2032
Analysis of Cochlear Implant market covering 30+ countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Cochlear Implant Market Outlook (2022 to 2032)
The global Cochlear Implant Market is projected to grow with a double digit CAGR of 14.1% from 2022 to 2032. In 2022, the global cochlear implant market size was valued at US$ 2.2 Billion and is anticipated to reach at US$ 9 Billion by the year 2032.
Cochlear implant market is segmented into various types, including Unilateral Implants, Bilateral Implants. Among all the types, Unilateral Implants are expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 14.3% during 2022 to 2032.
| Report Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Key Market Segments Covered | Fitting Type, End -Use, Region |
| Key Companies Profiled | Cochlear Ltd.; Sonova; MED-EL Medical Electronics; Demant A/S; Nurotron Biotechnology Co. Ltd.; Oticon Medical; TODOC |
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Revenue of Cochlear Implant Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Cochlear Implant Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Cochlear Implant Market increased at around 11.1% CAGR.
The growing prevalence of hearing loss in children and older adults, along with the availability of more affordable cochlear implants and technological advances in cochlear implants such as increased signal transfer and battery life, will drive market growth over the forecast period.
The FDA has approved cochlear implants for usage of children and adults with deafness or severe hearing loss. One of the primary factors that is forecasted to fuel market expansion is favourable reimbursement circumstances for cochlear implant surgeries and treatments.
Faster treatment, lower costs, and more advantageous reimbursement policies will all contribute to a significant revenue share for the unilateral arthroplasty segment over the next few years.
- Cochlear Implant Market was valued at US$ 2.2 Billion& in 2021. According to Fact.MR, Cochlear Implant Market revenue would increase 3.7X between 2022 and 2032, reaching roughly US$ 9 Billion& in 2032.
- In terms of Fitting Type, Unilateral Implants accounts for the highest projected CAGR of over 14.3%.
- In terms of End Use of Cochlear Implant, Adult segment accounts for the highest CAGR of 14.4 % during the historic period (2017 to 21).
- US is the dominant region in Cochlear Implant Market with an absolute dollar growth opportunity of over US$ 2.2 Billion.
What Factors are Propelling Cochlear Implant Demand?
Growing public awareness, breakthroughs in cochlear implants, increasing implant penetration due to market participants extended geographical reach, and favourable government efforts are expected to propel the worldwide cochlear implant market forward. Several government and non-governmental initiatives to fund research and improve cochlear implant usage are projected to boost market growth in the future years.
Also, hearing loss affects a large percentage of the elderly population, which is likely to boost market growth in the coming years.
Over the projection period, a shortage of qualified specialists, high costs of cochlear implants and treatments, and the availability of alternative treatment options are projected to stifle market expansion to some extent. Also, over the projection period, shortages of qualified experts, high costs of cochlear implants and treatments, and the availability of alternative treatment alternatives are projected to limit market growth.
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Region-wise Analysis
Which Region is projected to Offer the Largest Opportunity for Cochlear Implant Market?
In 2021, North America held the largest share in global Cochlear Implant market. Government support for the cochlear implants' development, presence of technologically advanced healthcare system, easy access to high-quality medical facilities, and rising awareness of cochlear implants and hearing difficulties are some of the important drivers for regional market growth.
Due to the increasing government funding and investment in healthcare sector and development of advanced healthcare facilities, Asia Pacific is projected to grow at the fastest rate throughout the projection period.
Country-wise Analysis
Which Country Lies at the CenterStage for Cochlear Implant Market Revenue?
The United States is expected to have the highest cochlear Implant market share of US$ 2.9 Billion by the end of 2032 due to factors such as an increase in hearing impairment among Americans, technological breakthroughs in implant technology, extended battery life of cochlear implants, and the existence of key market participants in the business, the industry is expected to develop.
The UK Cochlear Implant market is behind USA with a projected valuation of US$ 699.5 Mn by 2032 growing at a CAGR of 16.1% through the forecast period of 2022 to 2032.
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Category-wise Insights
Why is Unilateral Implants projected to Witness Fastest Growth among Cochlear Implant Fitting Type?
Unilateral Implants segment is forecasted to grow at the highest CAGR of over 14.3% during 2022 to 2032. This growth is due to easier reimbursement of these type of devices, comparatively cheaper than bilateral implants, shorter duration of surgery, and low requirement of anaesthesia.
Adults and seniors who have had progressive severe hearing loss or have unilateral cochlear implantation (CI) found the test results to be beneficial, achieving a total economic benefit of US$ 275,000 and US$ 76,000, respectively. Health benefits were not included, but the effect on society was very positive for children and workers.
Similarly, despite the changes to practice patterns and growing healthcare unit costs, unilateral cochlear implants (UCIs) continue to be cost-effective, according to a study. UCIs are expected to increase annual implants in adults and children by 70% and spending by 28.6 Mn pounds over three years. Such research, as well as the cost-effectiveness of unilateral implantations, are expected to drive segment expansion during the forecast period.
Which segment of Cochlear Implant by End-Use is expected to Score Highest Growth in the Coming Years?
Adult segment commanded the largest revenue growing at a CAGR of 14.4% through the forecast period of 2022 to 2032. This is due to the fact that elderly is the largest affected part of the population.
Competitive Analysis
Players in the market are constantly developing innovative solutions as well as extending their product offerings. To help healthcare organisations combat the Covid-19 pandemic, and preserve competitive advantage in the market, the companies are focused on their alliances, technology collaborations, and product launch strategies.
Some of the recent developments of key Cochlear Implant providers are as follows:
- In April 2022, Cochlear Ltd.'s Cochlear Nucleus Implants were approved by the FDA for the treatment of unilateral hearing loss (ULH) or single-sided deafness (SDD).
- In January 2022, TODOC, a South Korean company that specializes in neural prosthetic devices and neuromodulation systems, has announced that its artificial cochlear device 'SULLIVAN' will be unveiled at the "CES 2022" in Las Vegas.
- In June 2021, Oticon Medical received premarket approval (PMA) from the United States Food and Drug Administration (U.S. FDA) for its Neuro System (cochlear implant system) to treat patients aged 18 years or more with bilateral severe-to-profound sensorineural hearing loss who receive limited benefit from appropriately fitted hearing aids.
- In December 2020, after receiving FDA approval to expand its product offerings, Sonova launched two new sound processors, Sky CI Marvel and Nada CI Marvel.
Similarly, recent developments related to companies Cochlear Implant services have been tracked by the team at Fact.MR, which are available in the full report.
Market Segments Covered in Cochlear Implant Market Analysis
-
By Fitting Type:
- Unilateral Implants
- Bilateral Implants
-
By End-Use:
- Adult
- Pediatric
-
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Background
- 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Fitting Type
- 5.1. Unilateral Implants
- 5.2. Bilateral Implants
- 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use
- 6.1. Adult
- 6.2. Pediatric
- 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
- 7.1. North America
- 7.2. Latin America
- 7.3. Europe
- 7.4. Asia Pacific
- 7.5. MEA
- 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 12. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 13. Key Countries Market Analysis
- 14. Market Structure Analysis
- 15. Competition Analysis
- 15.1. Cochlear Ltd.
- 15.2. Sonova
- 15.3. MED-EL Medical Electronics
- 15.4. Demant A/S
- 15.5. Nurotron Biotechnology Co. Ltd.
- 15.6. Oticon Medical
- 15.7. TODOC
- 16. Assumptions & Acronyms Used
- 17. Research Methodology
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List Of Table
Table 1: Global Market Value (US$ Mn) Forecast by Region, 2017 to 2032
Table 2: Global Market Value (US$ Mn) Forecast by Fitting Type, 2017 to 2032
Table 3: Global Market Value (US$ Mn) Forecast by End Use, 2017 to 2032
Table 4: North America Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 5: North America Market Value (US$ Mn) Forecast by Fitting Type, 2017 to 2032
Table 6: North America Market Value (US$ Mn) Forecast by End Use, 2017 to 2032
Table 7: Latin America Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 8: Latin America Market Value (US$ Mn) Forecast by Fitting Type, 2017 to 2032
Table 9: Latin America Market Value (US$ Mn) Forecast by End Use, 2017 to 2032
Table 10: Europe Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 11: Europe Market Value (US$ Mn) Forecast by Fitting Type, 2017 to 2032
Table 12: Europe Market Value (US$ Mn) Forecast by End Use, 2017 to 2032
Table 13: Asia Pacific Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 14: Asia Pacific Market Value (US$ Mn) Forecast by Fitting Type, 2017 to 2032
Table 15: Asia Pacific Market Value (US$ Mn) Forecast by End Use, 2017 to 2032
Table 16: MEA Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 17: MEA Market Value (US$ Mn) Forecast by Fitting Type, 2017 to 2032
Table 18: MEA Market Value (US$ Mn) Forecast by End Use, 2017 to 2032
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List Of Figures
Figure 1: Global Market Value (US$ Mn) by Fitting Type, 2022 to 2032
Figure 2: Global Market Value (US$ Mn) by End Use, 2022 to 2032
Figure 3: Global Market Value (US$ Mn) by Region, 2022 to 2032
Figure 4: Global Market Value (US$ Mn) Analysis by Region, 2017 to 2032
Figure 5: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 6: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 7: Global Market Value (US$ Mn) Analysis by Fitting Type, 2017 to 2032
Figure 8: Global Market Value Share (%) and BPS Analysis by Fitting Type, 2022 to 2032
Figure 9: Global Market Y-o-Y Growth (%) Projections by Fitting Type, 2022 to 2032
Figure 10: Global Market Value (US$ Mn) Analysis by End Use, 2017 to 2032
Figure 11: Global Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 12: Global Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 13: Global Market Attractiveness by Fitting Type, 2022 to 2032
Figure 14: Global Market Attractiveness by End Use, 2022 to 2032
Figure 15: Global Market Attractiveness by Region, 2022 to 2032
Figure 16: North America Market Value (US$ Mn) by Fitting Type, 2022 to 2032
Figure 17: North America Market Value (US$ Mn) by End Use, 2022 to 2032
Figure 18: North America Market Value (US$ Mn) by Country, 2022 to 2032
Figure 19: North America Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 20: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 21: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 22: North America Market Value (US$ Mn) Analysis by Fitting Type, 2017 to 2032
Figure 23: North America Market Value Share (%) and BPS Analysis by Fitting Type, 2022 to 2032
Figure 24: North America Market Y-o-Y Growth (%) Projections by Fitting Type, 2022 to 2032
Figure 25: North America Market Value (US$ Mn) Analysis by End Use, 2017 to 2032
Figure 26: North America Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 27: North America Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 28: North America Market Attractiveness by Fitting Type, 2022 to 2032
Figure 29: North America Market Attractiveness by End Use, 2022 to 2032
Figure 30: North America Market Attractiveness by Country, 2022 to 2032
Figure 31: Latin America Market Value (US$ Mn) by Fitting Type, 2022 to 2032
Figure 32: Latin America Market Value (US$ Mn) by End Use, 2022 to 2032
Figure 33: Latin America Market Value (US$ Mn) by Country, 2022 to 2032
Figure 34: Latin America Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 35: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 36: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ Mn) Analysis by Fitting Type, 2017 to 2032
Figure 38: Latin America Market Value Share (%) and BPS Analysis by Fitting Type, 2022 to 2032
Figure 39: Latin America Market Y-o-Y Growth (%) Projections by Fitting Type, 2022 to 2032
Figure 40: Latin America Market Value (US$ Mn) Analysis by End Use, 2017 to 2032
Figure 41: Latin America Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 42: Latin America Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 43: Latin America Market Attractiveness by Fitting Type, 2022 to 2032
Figure 44: Latin America Market Attractiveness by End Use, 2022 to 2032
Figure 45: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 46: Europe Market Value (US$ Mn) by Fitting Type, 2022 to 2032
Figure 47: Europe Market Value (US$ Mn) by End Use, 2022 to 2032
Figure 48: Europe Market Value (US$ Mn) by Country, 2022 to 2032
Figure 49: Europe Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 50: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 51: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 52: Europe Market Value (US$ Mn) Analysis by Fitting Type, 2017 to 2032
Figure 53: Europe Market Value Share (%) and BPS Analysis by Fitting Type, 2022 to 2032
Figure 54: Europe Market Y-o-Y Growth (%) Projections by Fitting Type, 2022 to 2032
Figure 55: Europe Market Value (US$ Mn) Analysis by End Use, 2017 to 2032
Figure 56: Europe Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 57: Europe Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 58: Europe Market Attractiveness by Fitting Type, 2022 to 2032
Figure 59: Europe Market Attractiveness by End Use, 2022 to 2032
Figure 60: Europe Market Attractiveness by Country, 2022 to 2032
Figure 61: Asia Pacific Market Value (US$ Mn) by Fitting Type, 2022 to 2032
Figure 62: Asia Pacific Market Value (US$ Mn) by End Use, 2022 to 2032
Figure 63: Asia Pacific Market Value (US$ Mn) by Country, 2022 to 2032
Figure 64: Asia Pacific Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 65: Asia Pacific Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 66: Asia Pacific Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 67: Asia Pacific Market Value (US$ Mn) Analysis by Fitting Type, 2017 to 2032
Figure 68: Asia Pacific Market Value Share (%) and BPS Analysis by Fitting Type, 2022 to 2032
Figure 69: Asia Pacific Market Y-o-Y Growth (%) Projections by Fitting Type, 2022 to 2032
Figure 70: Asia Pacific Market Value (US$ Mn) Analysis by End Use, 2017 to 2032
Figure 71: Asia Pacific Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 72: Asia Pacific Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 73: Asia Pacific Market Attractiveness by Fitting Type, 2022 to 2032
Figure 74: Asia Pacific Market Attractiveness by End Use, 2022 to 2032
Figure 75: Asia Pacific Market Attractiveness by Country, 2022 to 2032
Figure 76: MEA Market Value (US$ Mn) by Fitting Type, 2022 to 2032
Figure 77: MEA Market Value (US$ Mn) by End Use, 2022 to 2032
Figure 78: MEA Market Value (US$ Mn) by Country, 2022 to 2032
Figure 79: MEA Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 80: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 81: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 82: MEA Market Value (US$ Mn) Analysis by Fitting Type, 2017 to 2032
Figure 83: MEA Market Value Share (%) and BPS Analysis by Fitting Type, 2022 to 2032
Figure 84: MEA Market Y-o-Y Growth (%) Projections by Fitting Type, 2022 to 2032
Figure 85: MEA Market Value (US$ Mn) Analysis by End Use, 2017 to 2032
Figure 86: MEA Market Value Share (%) and BPS Analysis by End Use, 2022 to 2032
Figure 87: MEA Market Y-o-Y Growth (%) Projections by End Use, 2022 to 2032
Figure 88: MEA Market Attractiveness by Fitting Type, 2022 to 2032
Figure 89: MEA Market Attractiveness by End Use, 2022 to 2032
Figure 90: MEA Market Attractiveness by Country, 2022 to 2032
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
How much is the current worth of the Cochlear Implant Market?
The global Cochlear Implant Market is worth more than US$ 2.4 Billion at present.
What is the sales forecast for Cochlear Implant Market?
Value of Cochlear Implant Market are projected to increase at a CAGR of around 14.1% during 2022 – 2032.
What is a key trend shaping the growth of the market for Cochlear Implant Market?
Product launches and research initiatives aimed at expanding product portfolios are the primary strategic initiatives pursued by these companies in order to increase market share.
At what percentage is sales of Cochlear Implant Market going to register growth in China?
The market for Cochlear Implant Market in China is projected to expand at a CAGR of around 15.0% during 2022 – 2032.
What do statistics for South Korea and Japan reveal?
While the market in South Korea is expected to grow at nearly 14%, the market in Japan is projected to register a CAGR of nearly 14.1% during 2022 - 2032.
What was the last 5 year’s market CAGR?
Value of Cochlear Implant Market increased at a CAGR of around 11.1% during 2017 – 2021.
Cochlear Implant Market