Analysis of Cochlear Implant market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global sales of the Cochlear Implant Market in 2021 were held at US$ 2.2 Billion. With 14.1%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Unilateral Implants are expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 14.3% during 2022 – 2032.
Historical Data Available for
Key Market Segments Covered
Key Companies Profiled
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.
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.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
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.
The United States is expected to have the highest market share of US$ 2.9 Bn 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 2022-2032.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
Unilateral Implants segment is forecasted to grow at the highest CAGR of over 14.3% during 2022-2032. 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.
Adult segment commanded the largest revenue growing at a CAGR of 14.4% through the forecast period of 2022-2032. This is due to the fact that elderly is the largest affected part of the population.
COVID-19 established limitations on audiology surgery and therapy services when it first appeared. The possibility of aerosolizing the virus while drilling in the mastoid cavity increased the danger of infection during neurotological (a subset of ENT) procedures. As a result, individuals were screened for COVID-19 prior to surgery, which caused procedures to be postponed. In addition, appointments for the rehabilitation phase following a cochlear implant operation were cancelled or postponed.
Surgical procedures are fewer today than in the early months of the conflict as a result of eased restrictions against coronaviruses in several countries. Although this contributed to the emergent risk of cochlear implant surgery and other procedures, it also led to thrive in brand-new study.
At Nottingham University Hospitals in July 2020, ENT doctors and researchers created a new personal protective equipment solution for cochlear implantation surgeries, which enabled the procedure to be completed more quickly.
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:
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.
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunitiesBuy Now
Get A Special pricing for start-ups and universitiesEnquiry Before Buying
- Humble, Yet Honored -
- Related Reports -
The global Cochlear Implant Market is worth more than US$ 2.4 Billion at present.
Value of Cochlear Implant Market are projected to increase at a CAGR of around 14.1% during 2022 – 2032.
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.
The market for Cochlear Implant Market in China is projected to expand at a CAGR of around 15.0% during 2022 – 2032.
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.
Value of Cochlear Implant Market increased at a CAGR of around 11.1% during 2017 – 2021.
Need An Exclusive Report For Your Unique Requirement?