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The cochlear implants market size is forecast to increase by USD 811.6 million, at a CAGR of 8.62% between 2022 and 2027. The expansion of the market hinges on several pivotal factors, including the rising prevalence of hearing impairments, a demographic shift towards an aging population, and the proliferation of initiatives led by both public and private entities. As the number of individuals experiencing hearing loss grows and the global elderly population increases, there is a corresponding rise in demand for related products and services. Simultaneously, the collaborative efforts of various organizations, public and private alike, bolster market growth by raising awareness, improving accessibility, and driving advancements in hearing healthcare solutions. These collective elements significantly influence the market's trajectory, fostering opportunities for innovation and advancement. However, market growth faces challenges such as the high cost, stringent regulations, and limitations associated with their use. Addressing these challenges necessitates strategic approaches to ensure continued progress and accessibility in hearing healthcare solutions.
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In the market, surgical process advancements ensure precise bilateral implantations for both the pediatric segment and adult segment, addressing various degrees of hearing impairment from normal to mild hearing impairment, and moderate hearing impairment. Innovative cochlear implant sound processor technology caters to adult unilateral implant needs while benefiting pediatrics with enhanced Ear and Hearing functions. These implants directly stimulate the brain, revolutionizing treatment for normal hearing impairments and offering a promising solution for those with different levels of hearing impairment.
Additionally, this market report extensively covers market segmentation by end-user (adult and pediatric), product (unilateral and bilateral), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the unilateral segment will be significant during the forecast period. Unilateral cochlear implantation involves the implantation of a cochlear implant in one ear. Although bilateral implantation offers benefits, personal preference or significant residual hearing in the non-implanted ear are factors increasing the adoption of unilateral implantation. Besides, the cost of bilateral implantation is significantly higher, caused by additional expenses associated with surgery and the second internal device.
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The unilateral segment was valued at USD 664.70 million in 2017. The unilateral segment is expected to witness steady growth during the forecast period. This can be attributed to the availability of favorable reimbursements for unilateral implantation. For adults and children, unilateral implants are funded by the governments of many countries, such as the US and India. Hence, the key factors that may influence the adoption of unilateral cochlear implantation include the cost of the device, the degree of hearing loss in the affected ear, and the patient's preference. These factors are expected to drive the growth of the segment in the market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America accounts for the largest share of the global market in terms of revenue. This can be attributed to the availability of favorable reimbursements; the introduction of innovative and advanced products; and the growing adoption of such products, which drive the growth of the market in the Americas. Furthermore, growing initiatives to improve awareness, the expansion of field sales organizations and direct-to-consumer (DTC) marketing, and enhanced sales-force effectiveness are also boosting the market growth in the region.
The market addresses hearing impairments in both the pediatric and geriatric population through bilateral fittings and unilateral implantations, enhancing speech understanding in noise and sound localization. Advanced sound processing technology, like that from Advanced Bionics, ensures optimal wearability and sound signals for improved speech understanding. With a focus on otology and neurology, these implants offer a solution amidst challenges such as noise pollution and the effects of ototoxic drugs, contributing to better quality of life for those with hearing aids. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of hearing loss is notably driving the market growth. A cochlear implant is a medical device that enables people with severe loss of hearing or deafness to hear again. The increasing number of people with such disabilities is boosting the demand. Besides, technological advancements have enhanced the effectiveness and user-friendliness of cochlear implants, further fueling the market growth.
Further, among infants, hearing loss or hearing impairment may lead to delayed speech and language learning skills. Several hearing aid devices are used to help people with hearing disabilities lead a normal life. The ability to hear speech at a nearly normal level without the need for lip reading is a major factor fueling the adoption. These factors are expected to boost the growth of the global cochlear implant market during the forecast period.
The emergence of technological innovations is a key trend in the market. Many manufacturers, including Cochlear, Sonova, and MED-EL are emphasizing the development of innovative cochlear implants with the aim of enhancing patient comfort. In recent years, sound processors with the ability to feed signals have witnessed several developments. For instance, Cochlear has seven generations of implantable components and nine generations of sound processors. The evolution includes an increase in the number of electrodes, from eight to 24, and a steep decrease in the size of sound processors. This rise in the number of electrodes has led to amplified cochlear implantation in the simulating cochlea to deliver clear sound. Furthermore, technological advancements have led to the development of compact and lightweight sound processors, improving their mobility. Apart from this, they are water-resistant and can be connected to smartphones, televisions, and other Bluetooth-enabled devices.
Furthermore, the market has witnessed the development of new image processing techniques to visualize the positions of cochlear implant electrodes and superior gluteal (SG) nerves they stimulate for individual CI users. These image-guided technologies enable the customization of cochlear implant stimulation strategies. This leads to improved hearing-related quality of life and communication abilities by eliminating the need for additional surgical procedures. These technological advancements are likely to drive the global cochlear implant market growth during the forecast period.
The high cost is challenging the market growth. The high cost can be attributed to the involvement of complex technology in their manufacturing, followed by implantation surgery and subsequent rehabilitation process. This factor can pose a challenge for patients who cannot afford it or do not have access to insurance coverage. For instance, the per-device cost of cochlear implants is USD 25,000, with the average selling price typically ranging between USD 18,000 and USD 20,000.
Besides, the cochlear implantation cost can vary based on the duration and extent of the hearing loss. Factors such as technological innovations and the highly concentrated market nature create an opportunity for the premium pricing of cochlear implants. However, factors such as a lack of health insurance coverage or inadequate reimbursements are negatively impacting the adoption of innovative cochlear implants. Hence, the high cost of cochlear implants is expected to affect the global cochlear implant market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amplifon SpA - The company offers cochlear implants under the subsidiary GAES.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is witnessing robust growth, fueled by advancements in bilateral implants and the presence of clinics and hospitals with skilled surgeons offering these procedures. Increasingly, consumers are turning to online sales and e commerce platforms for accessibility. Technological innovations like electrode arrays, speech processing algorithms, and signal processing have led to the miniaturization of devices and enhanced wireless connectivity. These electronic medical devices target the inner ear and hair cells, offering hope to those with severe hearing impairment. With an ageing population and rising patient epidemiology related to conditions like sensorineural hearing loss, the market is poised for further growth, driven by ongoing advancements and improvements in healthcare infrastructure.
Further, in the market, surgical process advancements ensure precise bilateral implantations for both the pediatric and adult segment, addressing various degrees of hearing impairment from normal to mild and moderate. Innovative cochlear implant sound processor technology caters to adult unilateral implant needs while benefiting pediatrics with enhanced Ear and Hearing functions. These implants directly stimulate the brain, revolutionizing treatment for hearing impairments and offering a promising solution for those with different levels of hearing impairment.
Market Scope |
|
Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.62% |
Market growth 2023-2027 |
USD 811.6 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.84 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Mexico, Germany, France, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amplifon SpA, Cochlear Ltd., Envoy Medical Corp., iotaMotion Inc., MED EL Elektromedizinische Gerate GmbH, Medtronic Plc, Neubio AG, Olympus Corp., Oticon Medical AS, Ototronix LLC, Shanghai Lishengte Medical Technology Co. Ltd., Sonova AG, Starkey Laboratories Inc., The Cochlear Implant Group India, TODOC Co. Ltd., and ZHEJIANG NUROTRON BIOTECHNOLOGY CO. LTD. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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