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Cochlear Implant Market Size, Share & Trends Analysis Report by Type of Fitting (Unilateral Implants, Bilateral Implants), by End Use (Adult, Pediatric), by Region, and Segment Forecasts, 2022-2030

  • ID: 4209733
  • Report
  • April 2022
  • Region: Global
  • 101 Pages
  • Grand View Research

FEATURED COMPANIES

  • Cochlear Ltd.
  • Demant A/S
  • Sonova
The global cochlear implant market size is expected to reach USD 3.1 billion by 2030, registering a CAGR of 8.71% during the forecast period. Supportive initiatives by the governments and various organizations, a rise in bilateral fittings, and increase in diagnosis rate are the factors, expected to boost the market growth, during the forecast period. Key players in the region are conducting research activities to improve the patient experience. For instance, in February 2022, Senova announced a vitro line of custom-made hearing devices with paradise technology which includes fully connected ITE hearing devices; Vitro P-312 (Vitro P Black), Vitro P-Titanium, and Vitro P-10.



Additionally, the rising adoption of cochlear implants, owing to technological advancement, is expected to foster the growth of the market. For instance, in December 2020, Advanced Bionics LLC, a US subsidiary of Sonova received FDA approval for Naida CI Marvel and Sky CI Marvel sound processors in the United States. These sound processors allow the user to customize their implant, based on the location of the wearer whether in a noisy place or at home, with the help of machine learning algorithms.

Increasing investment in R&D activities for product innovation enables manufacturers to compete with other players to achieve a greater market stronghold. For instance, Cochlear Ltd. increased its investment to USD 199.5 million in 2021 from USD 25.9 million in 2020. Kanso 2 sound Processor, Nucleus 7 Sound Processor, and custom sound pro fitting software by Cochlear Ltd. are some of the product launches witnessed by the market in 2020.

Furthermore, the COVID-19 pandemic had a profound impact on the market by disturbing the supply chain. It disrupted the cochlear implants business due to the postponement of elective surgeries and delays in the repairs of the implants. Owing to this, the manufacturers witnessed a decline in their revenue. Although the pandemic affected cochlear implant surgery and associated services, it also led to new research initiatives. For instance, in July 2020, ENT surgeons and researchers at the Nottingham University Hospitals developed a personal protective equipment solution, specifically for cochlear implantation surgeries that helped reduce the delay in the surgery.

Cochlear Implant Market Report Highlights

  • Based on the type of fitting, the unilateral implants segment dominated the cochlear implants market in 2021. However, the bilateral segment is expected to grow at the fastest rate during the forecast period. The demand for bilateral implantation in children is growing due to their cost-effective nature and better speech recognition in noise.
  • Based on end-use, the pediatric segment is expected to exhibit the fastest growth during the forecast period due to the increasing utilization of the medical device by pediatric patients and the high prevalence of hearing loss among children. According to NIDCD, two out of three children in the U.S. are born with some level of hearing loss in either or both ears.
  • Europe held the largest revenue share in 2021. However, in the Asia Pacific, the market is expected to grow at the fastest rate during the forecast period. This can be attributed to the rapidly increasing geriatric population coupled with rising awareness about hearing aids and the local presence of key market players in the region.
  • The industry is witnessing product launches and initiatives for business expansion. For instance, in February 2021, Cochlear Ltd. partnered with hearing health experts for conducting clinical trials for an investigational glucocorticoid-releasing cochlear implant. The study aims to evaluate the effect of the medical device in about 120 adults in the U.S. and Australia with moderate to profound sensorineural hearing loss.


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Frequently Asked Questions about the Global Cochlear Implant Market

What is the estimated value of the Global Cochlear Implant Market?

The Global Cochlear Implant Market was estimated to be valued at $1.6 Billion in 2022.

What is the growth rate of the Global Cochlear Implant Market?

The growth rate of the Global Cochlear Implant Market is 8.7%, with an estimated value of $3.1 Billion by 2030.

What is the forecasted size of the Global Cochlear Implant Market?

The Global Cochlear Implant Market is estimated to be worth $3.1 Billion by 2030.

Who are the key companies in the Global Cochlear Implant Market?

Key companies in the Global Cochlear Implant Market include Cochlear Ltd., Sonova, Med, El Medical Electronics and Zhejiang Nurotron Biotechnology Co. Ltd..
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Cochlear Ltd.
  • Demant A/S
  • Sonova

Chapter 1 Report Scope and Objectives
1.1 Market Segmentation
1.2 Regional Scope
1.3 Estimates and Forecast Timeline
1.4 Research Objectives
1.4.1 Objective-1
1.4.2 Objective-2
1.4.3 Objective-3
Chapter 2 Methodology
2.1 Research Methodology
2.1.1 Information procurement
2.1.2 Purchased Database
2.1.3 Internal Database
2.1.4 Secondary Sources
2.1.5 Primary Research
2.2 Information or Data Analysis
2.2.1 Data Analysis Models
2.3 Market Formulation & Validation
2.4 Model Details
2.4.1 Commodity Flow Analysis
2.4.2 Volume price analysis
2.5 List of Secondary Sources
2.6 List of Abbreviations
Chapter 3 Executive Summary
3.1 Market Outlook
3.2 Segment Outlook
3.2.1 Product
3.3 Regional Outlook
3.4 Competitive Insights
Chapter 4 Market Variables, Trends & Scope
4.1 Market Lineage Outlook
4.1.1 Parent Market Outlook
4.1.2 Related/Ancillary Market Outlook
4.2 Cochlear Implant Market Dynamics
4.2.1 Market Driver Analysis
4.2.1.1 Growing geriatric population
4.2.1.2 Increase in adoption due to technological advancements
4.5.1.3 Supportive initiatives by governments and various organizations
4.2.2 Market Restraint Analysis
4.2.2.1 High maintenance cost
4.2.2.2 Low awareness related to cochlear implants
4.3 Cochlear Implant Market: Business Environment Analysis Tools
4.3.1 Porter’s five forces analysis
4.3.1.1 Threat of new entrants: Low
4.3.1.2 Bargaining power of buyers: High
4.3.1.3 Competitive rivalry: High
4.3.1.4 Threat of substitutes: Moderate
4.3.1.5 Bargaining power of suppliers: Moderate
4.3.2 PESTLE Analysis
4.3.2.1 Political & legal
4.3.2.2 Economic & Social
4.3.2.3 Technological
4.4 Penetration & Growth Prospect Mapping
4.5 Qualitative Analysis: Impact of COVID-19 on Cochlear Implant Market
Chapter 5 Cochlear Implant Market: Type of Fitting Analysis
5.1 Cochlear Implant Type of Fittings Market Share Analysis, 2021&2030
5.2 Cochlear Implant Type of Fittings Market: Segment Dashboard
5.3 Market Size & Forecasts and Trend Analyses, 2016-2030 for the Type of Fittings Segment
5.3.1 Unilateral Implants
5.3.1.1 Unilateral implants market, 2016-2030 (USD Million)
5.3.2 Bilateral Implants
5.3.2.1 Bilateral implants market, 2016-2030 (USD Million)
Chapter 6 Cochlear Implant Market:End Use Analysis
6.1 Cochlear Implant End Use Market Share Analysis, 2021 & 2030
6.2 Cochlear Implant End Use Market: Segment Dashboard
6.3 Market Size & Forecasts and Trend Analyses, 2016-2030 for the End Use Segment
6.3.1 Adult
6.3.1.1 Adult cochlear implants market, 2016-2030 (USD Million)
6.3.2 Pediatric
6.3.2.1 Pediatric cochlear implants market, 2016-2030 (USD Million)
Chapter 7 Cochlear Implant Market: Regional Analysis
7.1 Cochlear Implant Regional Market Share Analysis, 2020 & 2028
7.2 Regional Market Snapshot
7.3 Market Size, & Forecasts and Trend Analysis, 2016 to 2028
7.3.1 North America
7.3.1.1 North America Cochlear ImplantMarket, 2016-2030 (USD Million)
7.3.1.2 U.S.
7.3.1.2.1 U.S. Cochlear Implant Market, 2016-2030 (USD Million)
7.3.1.3 Canada
7.3.1.3.1 Canada Cochlear Implant Market, 2016-2030 (USD Million)
7.3.2 Europe
7.3.2.1 Europe Cochlear Implant Market, 2016-2030 (USD Million)
7.3.2.2 UK
7.3.2.2.1 UK Cochlear Implant Market, 2016-2030 (USD Million)
7.3.2.3 Germany
7.3.2.3.1 Germany Cochlear Implant Market, 2016-2030 (USD Million)
7.3.2.4 France
7.3.2.4.1 France Cochlear Implant Market, 2016-2030 (USD Million)
7.3.2.5 Italy
7.3.2.5.1 Italy Cochlear Implant Market, 2016-2030 (USD Million)
7.3.2.6 Spain
7.3.2.6.1 Spain Cochlear Implant Market, 2016-2030 (USD Million)
7.3.3 Asia Pacific
7.3.3.1 Asia Pacific Cochlear Implant Market, 2016-2030 (USD Million)
7.3.3.2 Japan
7.3.3.2.1 Japan Cochlear Implant Market, 2016-2030 (USD Million)
7.3.3.3 China
7.3.3.3.1 China Cochlear Implant Market, 2016-2030 (USD Million)
7.3.3.4 India
7.3.3.4.1 India Cochlear Implant Market, 2016-2030 (USD Million)
7.3.3.5 Australia
7.3.3.5.1 Australia Cochlear Implant Market, 2016-2030 (USD Million)
7.3.4 Latin America
7.3.4.1 Latin America Cochlear Implant Market, 2016-2030 (USD Million)
7.3.4.2 Mexico
7.3.4.2.1 Mexico Cochlear Implant Market, 2016-2030 (USD Million)
7.3.4.3 Brazil
7.3.4.3.1 Brazil Cochlear Implant Market, 2016-2030 (USD Million)
7.3.5 Middle East & Africa
7.3.5.1 Middle East & Africa Cochlear Implant Market, 2016-2030 (USD Million)
7.3.5.2 South Africa
7.3.5.2.1 South Africa Cochlear Implant Market, 2016-2030 (USD Million)
Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, by Key Market Participants
8.2 Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
8.3 Company Market Position Analysis
8.4 Company Profiles
8.4.1 Cochlear Ltd.
8.4.1.1 Company overview
8.4.1.2 Financial performance
8.4.1.3 Product benchmarking
8.4.1.4 Strategic initiatives
8.4.1.5 SWOT analysis
8.4.2 Sonova
8.4.2.1 Company overview
8.4.2.2 Financial performance
8.4.2.3 Product benchmarking
8.4.2.4 Strategic initiatives
8.4.2.5 SWOT analysis
8.4.3 MED-EL Medical Electronics
8.4.3.1 Company overview
8.4.3.2 Financial performance
8.4.3.3 Product benchmarking
8.4.3.4 Strategic initiatives
8.4.4 Demant A/S
8.4.4.1 Company overview
8.4.4.2 Financial performance
8.4.4.3 Product benchmarking
8.4.5 Zhejiang Nurotron Biotechnology Co. Ltd.
8.4.5.1 Company overview
8.4.5.2 Financial performance
8.4.5.3 Product benchmarking
8.4.5.4 Strategic initiatives
Note: Product cover images may vary from those shown
  • Cochlear Ltd.
  • Sonova
  • Med-El Medical Electronics
  • Demant A/S
  • Zhejiang Nurotron Biotechnology Co. Ltd.
Note: Product cover images may vary from those shown

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