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Cochlear Implants Market Size by Type (Unilateral Implant, Bilateral Implant), By Patient (Adult, Pediatric), By End-use (Hospitals, ENT Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Country Outlook, Growth Potential, Application Potential, Competitive Market Share & Forecast, 2023-2032

  • Report ID: GMI2411
  • Published Date: Jan 2023
  • Report Format: PDF

Industry Statistics

Cochlear Implants Market size exceeded USD 1.5 billion in 2022 and is anticipated to exhibit more than 7.5% CAGR through 2023-2032, as a result of the expansion of the aging population worldwide.
 

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Aging is associated with a higher prevalence of hearing loss, as cumulative effects of hearing damage are prominent among older adults. Based on statistics from the United Nations Population Fund, by 2050, nearly 25% of the population in the Asia Pacific will be aged above 60 years. Since the elderly population is susceptible to chronic ailments such as hearing loss, cochlear implant surgery will gain momentum as a viable option to treat inner ear damage and enhance the quality of life.
 

Despite the favorable business environment, high cost is a major factor restraining the adoption of cochlear implants, especially among patients with low socioeconomic status in developing nations. The average price of cochlear implant surgery ranges from USD 30,000 to USD 50,000 and is relatively higher for bilateral cochlear implantation. However, the growing number of people at risk of hearing loss due to excessive and prolonged exposure to loud noise will likely create lucrative prospects for cochlear implant manufacturers over the forecast period.
 

Prevalence of single-sided deafness among children to boost rate of unilateral implant procedures

 

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Unilateral implants segment accounted for over 86% share of the cochlear implants industry in 2022, owing to the increased product penetration and the rising incidence of single-sided hearing impairment among children. According to data from Aussie Deaf Kids, close to 1 in 1,000 children is born with unilateral hearing loss, commonly detected through a newborn hearing screening program. The capability to ensure better transmission of high-frequency sound than other bone conduction implants and improve speech understanding in noise will further drive unilateral implant production over the estimated timeline.
 

High burden of presbycusis to augment implantation of cochlear devices in adult patients

Authors: Rupali Swain, Subodh Kharad

Frequently Asked Questions (FAQ) :

Global market size for cochlear implants exceeded USD 1.5 billion in 2022 and is anticipated to exhibit more than 7.5% CAGR through 2023-2032, on account of the rapidly aging population worldwide.
Unilateral implants segment accounted for over 86% share of the cochlear implants industry in 2022, owing to the increased product penetration and the rising incidence of single-sided hearing impairment among pediatric patients.
Europe cochlear implants industry size is slated to cross USD 1 billion by 2032, due to the presence of speech therapy clinics and favorable reimbursement policies for hearing impairment solutions.
Prominent players operating in the cochlear implants business is inclusive of Zhejiang Nurotron Biotechnology Co., Ltd., Envoy Medical, MED-El, Advanced Bionics Corporation (Sonova Holdings AG), and Cochlear Ltd, among others.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 5
  • Tables & Figures: 363
  • Countries covered: 30
  • Pages: 200
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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