The global cochlear implants market is expected to grow at a CAGR of more than 8% during the forecast period. The market growth is attributed to the rising geriatric population that generates a large patient pool, increasing demand for product customization, and the advent of rechargeable cochlear implants. Further, increasing cases of hearing losses across the globe further gives a boost to the growth of the market. According to the World Health Organization (WHO) in 2019, around 466 million people across the globe have disabling hearing loss, among which 34 million are children.
Further, it has been estimated by the WHO that more than 900 million people will have disabling hearing loss by 2050. Hearing loss may result from genetic causes, complications at birth, certain infectious diseases, chronic ear infections, the use of particular drugs, exposure to excessive noise, and aging. Further, 1.1 billion young people (aged between 12–35 years) are at risk of hearing loss due to exposure to noise in recreational settings. This has created the demand for hearing aid devices, which in turn is serving as the main driving factor for the growth of the global cochlear implant market.
Segmental Outlook
The global cochlear implants market is segmented on the basis of type and end-users. Based on the type, the market is bifurcated into unilateral cochlear implants and bilateral cochlear implants. Based on the end-users, the market is divided into cochlear implants for pediatrics and cochlear implants for adults. Adults held the most significant share in the global market. This is attributed to the increasing prevalence of age-related hearing loss, which is expected to boost the demand for cochlear implants in the adult population. According to the Institute for Health Matrix and Evaluation(IHME), the global prevalence of age-related and other hearing loss in 2013 was around 1.2 million that increased to 1.3 million in 2017.
Global Cochlear Implant Market Share by Type, 2018 (%)
Unilateral Implants to Hold the Significant Share in the Market
Based on the type, the market is segmented into unilateral implants and bilateral implants. Unilateral implants are cost-effective as compared to Bilateral Implants, which has led to a higher demand for the product and has is one of the major factors for the segmental growth of the market. In addition, various studies have observed that a unilateral cochlear implant is more cost-effective for adults. Hence, high demand from the adult patient population tends to be the major factor for the dominance of unilateral implants in the industry.
Regional Outlook
Geographically, the global cochlear implants market is segmented into North America, Europe, Asia-Pacific and the Rest of the World. North Americais expected to hold the most significant share in the global cochlear implants market. This is attributed to the rise in the prevalence of hearing the loss in the region, especially in the US. According to IHME, the prevalence of hearing the loss in 2010 was recorded as 148 million peoples which increased to174 million peoples in 2017.The rising prevalence of hearing loss creates demand for the treatment devices, which in turn, spurs the growth of the cochlear implants in the market.
Moreover, Asia-Pacific is also projected to exhibit significant growth during the forecast period. This is attributed to the rapid R&D activities in emerging countries such as India and China. For instance, in June 2017, Karnataka, India launched the “Deafness Free Karnataka” project to provide a cochlear implant to about 2,000 children (below 6 years). In December 2018, Fortis Hospital, Mohali launched the Cochlear Implant Clinic. This initiative is expected to provide high-quality treatment at an affordable price in the region.
Global Cochlear Implants Market, by Region 2018 (%)
Market Players Outlook
Some of the major companies working in the cochlear implant market globally include Nurotron Biotechnology Co.Ltd., Demant A/S, Sonova Holding AG, Sivantos Pte Ltd., and Starkey Hearing Technologies. Demant A/S and Sonova Holding AG are the two major companies operating in the market. The cochlear implants manufacturers are adopting various strategies such as new product launches and approvals, merger and acquisition, partnerships and collaborations, and many others in order to thrive in a competitive environment.
Recent Developments
The Report Covers
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Geography
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Cochlear Ltd.
3.3.1.1. Overview
3.3.1.2. Financial Analysis
3.3.1.3. SWOT Analysis
3.3.1.4. Recent Developments
3.3.2. Sonova Holding AG
3.3.2.1. Overview
3.3.2.2. Financial Analysis
3.3.2.3. SWOT Analysis
3.3.2.4. Recent Developments
3.3.3. Demant A/S
3.3.3.1. Overview
3.3.3.2. Financial Analysis
3.3.3.3. SWOT Analysis
3.3.3.4. Recent Developments
3.3.4. Amplifon S.p.A
3.3.4.1. Overview
3.3.4.2. Financial Analysis
3.3.4.3. SWOT Analysis
3.3.4.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Cochlear Implants Market by Type
5.1.1. Unilateral Cochlear Implants
5.1.2. Bilateral Cochlear Implants
5.2. Global Cochlear Implants Market by End-Users
5.2.1. Pediatrics
5.2.2. Adults
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Amplifon S.p.A.
7.2. Cochlear Ltd.
7.3. Earlens Corp.
7.4. Demant A/S
7.5. Fujitsu Ltd.
7.6. GN Store Nord A/S
7.7. Kyocera Corp.
7.8. MED-EL Corp.
7.9. Medtronic PLC
7.10. Nurotron Biotechnology Co. Ltd.
7.11. Oticon MedicalA/S
7.12. Sebotek Hearing Systems, LLC
7.13. Sivantos Pte. Ltd.
7.14. Sonova Holding AG
7.15. StarkeyHearing Technologies
7.16. WidexA/S
1. GLOBAL COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY TYPE, 2018-2025 ($ MILLION)
2. GLOBAL UNILATERAL COCHLEAR IMPLANTSMARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
3. GLOBAL BILATERAL COCHLEAR IMPLANTSMARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
4. GLOBAL COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2018-2025 ($ MILLION)
5. GLOBAL COCHLEAR IMPLANTS FOR PEDIATRICSMARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
6. GLOBAL COCHLEAR IMPLANTS FOR ADULTSMARKET RESEARCH AND ANALYSIS BY REGION, 2018-2025 ($ MILLION)
7. GLOBAL COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2018-2025 ($ MILLION)
8. NORTH AMERICAN COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
9. NORTH AMERICAN COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY TYPE, 2018-2025 ($ MILLION)
10. NORTH AMERICAN COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2018-2025 ($ MILLION)
11. EUROPEAN COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
12. EUROPEAN COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY TYPE, 2018-2025 ($ MILLION)
13. EUROPEAN COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2018-2025 ($ MILLION)
14. ASIA-PACIFIC COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2018-2025 ($ MILLION)
15. ASIA-PACIFIC COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY TYPE, 2018-2025 ($ MILLION)
16. ASIA-PACIFIC COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2018-2025 ($ MILLION)
17. REST OF THE WORLD COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY TYPE, 2018-2025 ($ MILLION)
18. REST OF THE WORLD COCHLEAR IMPLANTS MARKET RESEARCH AND ANALYSIS BY END-USERS, 2018-2025 ($ MILLION)
1. GLOBAL COCHLEAR IMPLANTS MARKET SHARE BY TYPE, 2018 VS 2025 (%)
2. GLOBAL COCHLEAR IMPLANTS MARKET SHARE BY END-USERS, 2018 VS 2025 (%)
3. GLOBAL COCHLEAR IMPLANTS MARKET SHARE BY GEOGRAPHY, 2018 VS 2025 (%)
4. US COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
5. CANADA COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
6. UK COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
7. FRANCE COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
8. GERMANY COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
9. ITALY COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
10. SPAIN COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
11. ROE COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
12. INDIA COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
13. CHINA COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
14. JAPAN COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
15. REST OF ASIA-PACIFIC COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)
16. REST OF THE WORLD COCHLEAR IMPLANTS MARKET SIZE, 2018-2025 ($ MILLION)