Global Cochlear Implants Market Outlook 2022

Cochlear Implants Market Outlook

The global Cochlear Implants market was valued at US$ 1338 million in 2020 and is expected to reach US$ 2017.5 million by the end of 2027, growing at a CAGR of 5.8% during 2021-2027. Key drivers of the cochlear implant market include the rising prevalence of hearing loss and the increasing geriatric population. The technological advancements in cochlear implants will fuel the growth of the market in the forthcoming years. The extensive R&D initiatives will propel the market forward in the coming years.

Cochlear Implants Market Trends

Hearing disorders

As per WHO, around 5% of the world population, or one in every ten people suffer from a hearing disability. It is estimated that around 700 million people will require some degree of hearing rehabilitation. This will bolster the growth of the cochlear implant market in the upcoming years. The reasons can be varied such as intrauterine infections, ototoxic medications, birth asphyxia, genetic problems, etc. Healthcare implants help in improving hearing loss although restoring normalcy is not possible. It is either placed in one ear or both ears. Patients do not need visual cues or other hearing aids. Everyday sounds can be recognized even in a noisy environment.

Technological developments

Doctors and medical professionals are constantly on the lookout for improvements in healthcare implants. Key players have come up with many innovative product launches and services that will foster the growth of the cochlear implants market during the forecast period. They come equipped with a wide range of electrodes that stimulate places in the cochlea for identifying sound frequencies of varied pitches. The current delivery is controlled, accurate and precise. It has moved beyond simple auditory perception to understanding complex sound patterns in noisy environments. On the other hand, the miniaturized sound process or detects the surroundings activates features that improve the listening experience. This significantly boosts the processing and functionality of the implants.

Government research

Government organizations and federal agencies are supporting research in cochlear implantation. For instance, scientists are developing models that stimulate the deafness-induced nerve for reversing hearing loss. This will drive the expansion of the cochlear implants market in the subsequent years. Reintroducing activit  y in the hearing pathway can be groundbreaking and a positive discovery for the entire industry.

Cochlear Implants Market Insights

Based on type, the adult cochlear implants segment will grow the highest in the cochlear implants market share due to the large elderly population base across the globe.

Based on application, the segmentations are hospitals and surgery centers.

Based on region, Asia-Pacific will witness considerable growth with Australia holding a market share of 56%. This is due to the rising geriatric population, increasing government support, and growing awareness of implant technology and hearing aids.

Segment By Type

• Child Cochlear Implants
• Adult Cochlear Implants

Segment By Application

• Hospital
• Surgery Center

By Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Asia-Pacific
• China
• Japan
• South Korea
• India
• Australia
• Taiwan
• Indonesia
• Thailand
• Malaysia
• Philippines
• Vietnam
• Latin America
• Mexico
• Brazil
• Argentina
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE

By Company

• Cochlear
• MED-EL
• Sonova
• William Demant
• Nurotron Biotechnology
• Shlst