Product Code: 138065-01-23
A cochlear implant (CI) is an electronic device that aids in hearing to a person who is severely hard of hearing in both the ears. The device is implanted surgically and works by transmitting sound signals to brain. Unlike hearing aids that amplifies the sound at the outer ear, the cochlear implant system bypasses the non-functioning parts of ear and delivers sound in the form of electrical signals through hearing nerve. 3M became pioneer in the cochlear implants market with the approval of first cochlear implant in 1984.
Technological encroachments in the field of cochlear implants, growing number of cases of infants born with the hearing disorders, favorable government initiatives and strategic initiatives by market players are projected to catalyze the global cochlear implants market. For instance, a novel rechargeable battery was launched by MED-EL in May 2016 for SONNET Audio. The battery has very low charging time and can provide ten hours of life. Furthermore, in September 2016, Cochlear Ltd. launched the slimmest full-length perimodiolar electrode for their cochlear implant that aids to protect the gentle parts of the inner ear. Hence, advancement of such devices and rising awareness amongst the patients and physicians are likely to surge the cochlear devices market. According to the World Health Organization (WHO), there is a high demand of hearing loss aids as the current production of the devices can only meet upto 10% of the actual demand. Hence, there is enormous opportunities for key players to expand their market share.
Based on fitting type, the global cochlear implants market is categorized into bilateral implantation and unilateral implantation. In 2022, the unilateral implantation is expected to be the prominent segment contributing more than 50% of market share due to growing demand and cost-effectiveness. However, bilateral implantation devices is projected to be the fastest growing segment due to the increasing demand for cochlear implants by pediatrics. Furthermore, majority of the countries are providing reimbursement for the bilateral implantation devices only.
Based on end-user, the global market is segmented into adults and pediatrics. In 2022, adults segment dominated the global market due to the availability of vast patient base and fewer surgical complications compared to pediatrics.
Asia Pacific is projected to be the fastest growing segment due to the high prevalence of hearing defects in the region, increasing awareness in the region, favorable government initiatives and presence of key players. Key markets in the region include Japan, China, Australia, and New Zealand.
Key Players Identified in Cochlear Implants Market include:
Cochlear Limited, Oticon Medical, William Demant Holding A/S, MED-EL, PENTAX Medical, LSVT Global, Inc., Gaes Medica, Sonova, EBS Healthcare, Nurotron Biotechnology Co., Ltd., Amplifon Group, Ototronix, Medtronic, Demant A/S, Envoy Medical Corporation And Others.
Recent Developments:
- March 2022: Sonova Holding AG, a leading provider of hearing care solutions, successfully closed the previously announced acquisition of the Consumer Division from Sennheiser electronic GmbH & Co. KG.
- June 2022: Demant announces the acquisition of the remaining 80% of the shares in ShengWang, thereby taking full ownership of the leading network of hearing aid clinics in China.
Historical & Forecast Period
This study report represents analysis of each segment from 2021 to 2031 considering 2022 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2031.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cochlear Implants market are as follows:
- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
Geographical revenues generate by countries considered in the report:
Micro and macro environment factors that are currently influencing the Cochlear Implants market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
Market Segmentation
Fitting
- Unilateral Implantation
- Bilateral Implantation
End-users
Region Segment (2021-2031; US$ Million)
- North America
- U.S.
- Canada
- Rest of North America
- UK and European Union
- UK
- Germany
- Spain
- Italy
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC
- Africa
- Rest of Middle East and Africa
Key questions answered in this report:
- What are the key micro and macro environmental factors that are impacting the growth of Cochlear Implants market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Cochlear Implants market?
- Which is the largest regional market for Cochlear Implants market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Cochlear Implants market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Cochlear Implants market worldwide?
Table of Contents
1. Preface
- 1.1. Report Description
- 1.1.1. Purpose of the Report
- 1.1.2. Target Audience
- 1.1.3. Key Offerings
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.3.1. Phase I - Secondary Research
- 1.3.2. Phase II - Primary Research
- 1.3.3. Phase III - Expert Panel Review
- 1.3.4. Assumptions
- 1.3.5. Approach Adopted
2. Executive Summary
- 2.1. Market Snapshot: Global Cochlear Implants Market
- 2.2. Global Cochlear Implants Market, By Fitting, 2022 (US$ Million)
- 2.3. Global Cochlear Implants Market, By End-users, 2022 (US$ Million)
- 2.4. Global Cochlear Implants Market, By Geography, 2022 (US$ Million)
- 2.5. Attractive Investment Proposition by Geography, 2022
3. Cochlear Implants Market: Competitive Analysis
- 3.1. Market Positioning of Key Cochlear Implants Market Vendors
- 3.2. Strategies Adopted by Cochlear Implants Market Vendors
- 3.3. Key Industry Strategies
- 3.4. Tier Analysis 2022 Versus 2031
4. Cochlear Implants Market: Macro Analysis & Market Dynamics
- 4.1. Introduction
- 4.2. Global Cochlear Implants Market Value, 2021 - 2031, (US$ Million)
- 4.3. Market Dynamics
- 4.3.1. Market Drivers
- 4.3.2. Market Restraints
- 4.3.3. Key Challenges
- 4.3.4. Key Opportunities
- 4.4. Impact Analysis of Drivers and Restraints
- 4.5. See-Saw Analysis
5. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 5.1. Market Overview
- 5.2. Growth & Revenue Analysis: 2022 Versus 2031
- 5.3. Market Segmentation
- 5.3.1. Unilateral Implantation
- 5.3.2. Bilateral Implantation
6. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 6.1. Market Overview
- 6.2. Growth & Revenue Analysis: 2022 Versus 2031
- 6.3. Market Segmentation
- 6.3.1. Adults
- 6.3.2. Pediatrics
7. North America Cochlear Implants Market, 2021-2031, USD (Million)
- 7.1. Market Overview
- 7.2. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 7.3. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 7.4.Cochlear Implants Market: By Region, 2021-2031, USD (Million)
- 7.4.1.North America
- 7.4.1.1. U.S.
- 7.4.1.1.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 7.4.1.1.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 7.4.1.2. Canada
- 7.4.1.2.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 7.4.1.2.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 7.4.1.3. Rest of North America
- 7.4.1.3.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 7.4.1.3.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
8. UK and European Union Cochlear Implants Market, 2021-2031, USD (Million)
- 8.1. Market Overview
- 8.2. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.3. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 8.4.Cochlear Implants Market: By Region, 2021-2031, USD (Million)
- 8.4.1.UK and European Union
- 8.4.1.1. UK
- 8.4.1.1.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.4.1.1.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 8.4.1.2. Germany
- 8.4.1.2.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.4.1.2.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 8.4.1.3. Spain
- 8.4.1.3.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.4.1.3.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 8.4.1.4. Italy
- 8.4.1.4.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.4.1.4.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 8.4.1.5. France
- 8.4.1.5.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.4.1.5.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 8.4.1.6. Rest of Europe
- 8.4.1.6.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 8.4.1.6.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
9. Asia Pacific Cochlear Implants Market, 2021-2031, USD (Million)
- 9.1. Market Overview
- 9.2. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.3. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 9.4.Cochlear Implants Market: By Region, 2021-2031, USD (Million)
- 9.4.1.Asia Pacific
- 9.4.1.1. China
- 9.4.1.1.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.4.1.1.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 9.4.1.2. Japan
- 9.4.1.2.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.4.1.2.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 9.4.1.3. India
- 9.4.1.3.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.4.1.3.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 9.4.1.4. Australia
- 9.4.1.4.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.4.1.4.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 9.4.1.5. South Korea
- 9.4.1.5.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.4.1.5.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 9.4.1.6. Rest of Asia Pacific
- 9.4.1.6.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 9.4.1.6.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
10. Latin America Cochlear Implants Market, 2021-2031, USD (Million)
- 10.1. Market Overview
- 10.2. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 10.3. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 10.4.Cochlear Implants Market: By Region, 2021-2031, USD (Million)
- 10.4.1.Latin America
- 10.4.1.1. Brazil
- 10.4.1.1.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 10.4.1.1.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 10.4.1.2. Mexico
- 10.4.1.2.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 10.4.1.2.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 10.4.1.3. Rest of Latin America
- 10.4.1.3.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 10.4.1.3.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
11. Middle East and Africa Cochlear Implants Market, 2021-2031, USD (Million)
- 11.1. Market Overview
- 11.2. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 11.3. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 11.4.Cochlear Implants Market: By Region, 2021-2031, USD (Million)
- 11.4.1.Middle East and Africa
- 11.4.1.1. GCC
- 11.4.1.1.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 11.4.1.1.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 11.4.1.2. Africa
- 11.4.1.2.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 11.4.1.2.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
- 11.4.1.3. Rest of Middle East and Africa
- 11.4.1.3.1. Cochlear Implants Market: By Fitting, 2021-2031, USD (Million)
- 11.4.1.3.1. Cochlear Implants Market: By End-users, 2021-2031, USD (Million)
12. Company Profile
- 12.1. Cochlear Limited
- 12.1.1. Company Overview
- 12.1.2. Financial Performance
- 12.1.3. Product Portfolio
- 12.1.4. Strategic Initiatives
- 12.2. Oticon Medical
- 12.2.1. Company Overview
- 12.2.2. Financial Performance
- 12.2.3. Product Portfolio
- 12.2.4. Strategic Initiatives
- 12.3. William Demant Holding A/S
- 12.3.1. Company Overview
- 12.3.2. Financial Performance
- 12.3.3. Product Portfolio
- 12.3.4. Strategic Initiatives
- 12.4. MED-EL
- 12.4.1. Company Overview
- 12.4.2. Financial Performance
- 12.4.3. Product Portfolio
- 12.4.4. Strategic Initiatives
- 12.5. PENTAX Medical
- 12.5.1. Company Overview
- 12.5.2. Financial Performance
- 12.5.3. Product Portfolio
- 12.5.4. Strategic Initiatives
- 12.6. LSVT Global, Inc.
- 12.6.1. Company Overview
- 12.6.2. Financial Performance
- 12.6.3. Product Portfolio
- 12.6.4. Strategic Initiatives
- 12.7. Gaes Medica
- 12.7.1. Company Overview
- 12.7.2. Financial Performance
- 12.7.3. Product Portfolio
- 12.7.4. Strategic Initiatives
- 12.8. Sonova
- 12.8.1. Company Overview
- 12.8.2. Financial Performance
- 12.8.3. Product Portfolio
- 12.8.4. Strategic Initiatives
- 12.9. EBS Healthcare
- 12.9.1. Company Overview
- 12.9.2. Financial Performance
- 12.9.3. Product Portfolio
- 12.9.4. Strategic Initiatives
- 12.10. Nurotron Biotechnology Co., Ltd.
- 12.10.1. Company Overview
- 12.10.2. Financial Performance
- 12.10.3. Product Portfolio
- 12.10.4. Strategic Initiatives
- 12.11. Amplifon Group
- 12.11.1. Company Overview
- 12.11.2. Financial Performance
- 12.11.3. Product Portfolio
- 12.11.4. Strategic Initiatives
- 12.12. Ototronix
- 12.12.1. Company Overview
- 12.12.2. Financial Performance
- 12.12.3. Product Portfolio
- 12.12.4. Strategic Initiatives
- 12.13. Medtronic
- 12.13.1. Company Overview
- 12.13.2. Financial Performance
- 12.13.3. Product Portfolio
- 12.13.4. Strategic Initiatives
- 12.14. Demant A/S
- 12.14.1. Company Overview
- 12.14.2. Financial Performance
- 12.14.3. Product Portfolio
- 12.14.4. Strategic Initiatives
- 12.15. Envoy Medical Corporation
- 12.15.1. Company Overview
- 12.15.2. Financial Performance
- 12.15.3. Product Portfolio
- 12.15.4. Strategic Initiatives
- 12.16. Others
- 12.16.1. Company Overview
- 12.16.2. Financial Performance
- 12.16.3. Product Portfolio
- 12.16.4. Strategic Initiatives