Cochlear Implants Market by Component Type (Cochlear Implants, Upgrades & Accessories), Type of Implants (Unilateral, Bilateral), Patient Type (Adults, Pediatrics), End User (Hospitals, ENT Clinics) - Global Forecast to 2030
The global cochlear implants market is valued at an estimated 2.80 billion in 2024 and is projected to reach USD 4.73 billion by 2030, at a CAGR of 9.2% during the forecast period. With the global increase in aging populations, age-related hearing loss (presbycusis) is becoming more common, creating a larger pool of potential candidates for cochlear implantation. WHO-reported data suggests that over 1.5 billion people-just under 20% of the global population-with hearing loss existed, of which around 430 million have disabling hearing loss, and are expected to rise by more than double-750 million in 2050. The main driver of these growth factors, the rising incidence of hearing problems, fuels further demand for CI.
Scope of the Report
Years Considered for the Study
2022-2030
Base Year
2023
Forecast Period
2024-2030
Units Considered
Value (USD)
Segments
Component Type, Type of Implants, Patient Type, End User, and Region
Regions covered
North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and the GCC Countries
In 2023, the pediatric segment accounted for the largest share of the cochlear implants market, by patient type.
Adults and pediatrics make up the patient type-based segments of the cochlear implants market. Market share for cochlear implants was highest in the peadiatrics in 2023. This is mainly due to the high incidence of hearing loss in children, increasing technological advancements, early diagnosis of hearing impairments through newborn screening programs, and growing awareness among parents about the benefits of early intervention.
"The hospitals segment is projected to witness the highest growth rate in the cochlear implants market, by end user, during the forecast period."
Based on end user, the cochlear implants market is segmented into hospitals, ENT clinics, and other end users. The driving factors that force hospitals to adopt cochlear implants include better patient outcomes, a multidisciplinary team approach, and novel surgical technologies. Besides, investment in hospital infrastructure-especially within emerging markets-and insurance cover for cochlear implants ensure better access and, consequently, better affordability of cochlear implants, increasing their demand in the hospital environment.
"The Asia Pacific region is projected to witness highest growth rate in the cochlear implants market during the forecast period"
The global cochlear implants market is segmented into six regions - North America, Europe, Asia Pacific, the Middle East & Africa, Latin America, and the GCC Countries. Over the span of the forecast period, the cochlear implants market is expected to grow at the fastest rate in the Asia Pacific region. The demand for cochlear implants in the APAC is mainly driven by the growing geriatric population, the increasing GDP of Asian countries, the rising healthcare expenditure in the APAC countries, and growing public awareness.
The primary interviews conducted for this report can be categorized as follows:
By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C-level - 27%, D-level - 18%, and Others - 55%
By Region: North America - 35%, Europe - 31%, Asia Pacific - 22%, Latin America - 9%, Middle East & Africa - 2%, and the GCC Countries - 1%
Lists of Companies Profiled in the Report:
Cochlear Ltd. (Australia), Sonova (Switzerland), MED-EL Medical Electronics (Austria), Zhejiang Nurotron Biotechnology Co., Ltd. (China), Neubio AG (Switzerland), TODOC Co., Ltd. (South Korea), and Shanghai Listent Medical Tech Co., Ltd. (China).
Research Coverage:
In this report, the cochlear implants market has been categorized based on type of implants (unilateral implants, bilateral implants), end user (hospitals, ENT clinics, and other end users), patient type (adults, pediatrics), component type (cochlear implant systems, upgrades & accessories), and region (Europe, Middle East & Africa, North America, Latin America, Asia Pacific, and the GCC Countries).
Comprehensive information regarding the main drivers, barriers, opportunities, and challenges influencing the cochlear implants market's expansion is included in detail in this study. An exhaustive study of the key players in the cochlear implants market has been done to provide insights into their business profile, products offered, noteworthy strategies, product launches and approvals, and other recent activities pertaining to the market.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall cochlear implants market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, challenges, opportunities, and restaints.
The report provides insights on the following pointers:
Analysis of key drivers: (Rising prevalence of hearing impairment, growing geriatric population, and comprehensive insurance coverage and favorable reimbursement policies), restraints (High cost of cochlear implants and associated surgeries and surgical risks, procedural complications, and long post-surgery rehabilitation), opportunities (Lucrative growth opportunities in emerging economies, technological innovations in cochlear implants, and integration with digital health platforms), and challenges (Shortage of skilled professionals performing ENT procedures, competition from alternative solutions) influencing the growth of the in cochlear implants market.
Market Development: Comprehensive information about lucrative markets - the report analyses the cochlear implants market across varied regions.
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cochlear implants market
Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Cochlear Ltd. (Australia), Sonova (Switzerland), and MED-EL Medical Electronics (Austria) are among others, in the cochlear implants market strategies.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 SEGMENTS CONSIDERED & GEOGRAPHICAL SPREAD
1.3.2 INCLUSIONS & EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.3.4 CURRENCY CONSIDERED
1.4 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key sources for secondary data
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key primary sources
2.1.2.2 Objectives of primary research
2.1.2.3 Key data from primary sources
2.1.2.4 Key industry insights
2.1.2.5 Breakdown of primaries
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Company revenue estimation approach
2.2.1.1.1 Presentations of companies and primary interviews
2.2.1.1.2 Primary interviews
2.2.1.1.3 Country-based approach for estimating global market size
2.2.1.1.4 Approach for estimating global market size based on units sold
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 MARKET SHARE ANALYSIS
2.5 STUDY ASSUMPTIONS
2.5.1 MARKET ASSUMPTIONS
2.5.2 GROWTH RATE ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.6.1 METHODOLOGY-RELATED LIMITATIONS
2.6.2 SCOPE-RELATED LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 COCHLEAR IMPLANTS MARKET OVERVIEW
4.2 NORTH AMERICA: COCHLEAR IMPLANTS MARKET, BY COMPONENT TYPE AND COUNTRY (2023)