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Cochlear Implants Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4845938
  • Report
  • 114 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • Advanced Bionics AG
  • Cochlear Ltd
  • Demant A/S
  • Oticon Medical
  • Sonova
  • MORE
Market Overview

Cochlear Implants Market is estimated to register healthy growth in the forecasted period. As per the WHO report, in 2019, around 466 million people worldwide have disabling hearing loss. It is estimated that by 2050, over 900 million people will have disabling hearing loss. 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 have been the main driving factor for this market.

Further, rising geriatric population, of which approximately one-third people are affected by disabling hearing loss, also helps in the growth of the market. Technological Advancements are helping these devices to transfer signals more accurately and increase its battery life. But, the high cost of these implants and difficulty in maintenance has been restraining the market growth.

Scope of the Report

A cochlear implant converts sound into electrical signals and restore the sense of hearing by performing the work of damaged parts of the cochlea by transmitting the electrical signals to the brain. It is used by people as hearing aid with low to high hearing loss. These cochlear implants are surgically implanted and consist of two parts. The inside component is implanted across the skin while the other external component is worn at the back of the ear. The cochlear implants bypass the non-functioning part of the inner ear and provide electrical stimulation to the nerve fibers present in the cochlea. The surgical procedure for implantation is performed under general anesthesia with minimal risk.

Key Market Trends

Unilateral Implantation dominates the Cochlear Implants Market

Unilateral Implants are cheaper than Bilateral Implants, which is one of the leading factors for its current dominance. Benefits have been documented in speech perception with unilateral cochlear implantation compared with hearing aids in many studies. When health-related quality-of-life was evaluated with generic measures, unilateral cochlear implantation showed significant benefit on overall health-related quality-of-life and social domains compared with preimplantation measures. Also, using disease-specific instruments of health-related quality-of-life measures, unilateral cochlear implantation showed benefits compared with preimplantation measures in these studies. These factors have positively helped the market growth of this segment.

North America dominates in Cochlear Implants Market

According to a report in JAMA Network Journal, 2017, the number of adults in the United States (US) over 20 years of age with hearing loss is expected to gradually increase from the expected 44.11 million in 2020 to 73.50 million in 2060. The increase is greater in older adults with an expected 55.4% of US population above 70 years to duffer from hearing a loss to 67.4% in 2060.

North America (NA) consists of developed countries like the US and Canada. Owing to a developed healthcare system and better awareness among the people, the NA region dominates this market.

Competitive Landscape

Cochlear Implants market is consolidated and consists of a few market players. Majority of these companies are based in the US and Europe as these regions are more developed and hence better funded for healthcare.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format.
  • Report customization as per the client's requirements.
  • 3 months of analyst support.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Advanced Bionics AG
  • Cochlear Ltd
  • Demant A/S
  • Oticon Medical
  • Sonova
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Hearing Impairment in rising Geriatric Population
4.2.2 Risk of hearing loss due to exposure to noise in recreational settings in the younger population
4.2.3 Technological Advancements and Increased Battery Life of Cochlear Implants
4.3 Market Restraints
4.3.1 High Cost of the Device and Maintenance
4.3.2 Risk of Injuries in Surgery
4.4 Porter’s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Unilateral Implantation
5.1.2 Bilateral Implantation
5.2 By End User
5.2.1 Pediatrics
5.2.2 Adults
5.3 Geography
5.3.1 North America
5.3.1.1 US
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 UK
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cochlear Ltd
6.1.2 Advanced Bionics AG
6.1.3 MED-EL Medical Electronics
6.1.4 Demant A/S
6.1.5 Oticon Medical
6.1.6 Nurotron Biotechnology Co Ltd
6.1.7 Sonova

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Cochlear Ltd
  • Advanced Bionics AG
  • MED-EL Medical Electronics
  • Demant A/S
  • Oticon Medical
  • Nurotron Biotechnology Co Ltd
  • Sonova
Note: Product cover images may vary from those shown
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