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Cochlear Implants Market Analysis
- Report ID: GMI2411
- Published Date: Jan 2023
- Report Format: PDF
Cochlear Implants Market Analysis
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.
Cochlear implants market share from adult patient segment is anticipated to register over 7.5% CAGR through 2023-2032, considering the growing incidence of presbycusis or bilateral age-related hearing loss. Presbycusis is estimated to affect nearly two-thirds of the elderly population aged 70 years and above across America. Furthermore, with the rise in the geriatric population, the occurrence of hearing impairments is expected to surge and in turn, encourage older adults to undergo cochlear implant surgery.
Cochlear implants market value from hospital end-use segment will depict over 7% CAGR through 2032, given the presence of advanced electronic devices and skilled healthcare professionals across hospital settings. In emerging nations, several funding programs are being launched to support infrastructural development and operation across rural hospitals. These factors, alongside the greater influx of patients and the availability of reimbursement and insurance policies, are likely to contribute to cochlear implant technology deployment in hospitals.
Europe cochlear implants market size is slated to cross USD 1 billion by 2032, due to the presence of speech therapy clinics and favorable reimbursement policies. These developments are likely to augment For instance, the Hearing Health Forum EU was introduced as a collaboration of health associations, hearing impairment experts, and NGOs to help over 196 million European citizens gain access to hearing aids such as cochlear implants. With the rising burden of tinnitus among adults, the requirement for hearing aids will further increase and consequently boost the rate of cochlear device implantation in the region.
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Cochlear Implants Market Scope
