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Pulished Date April, 2021
ID: 10562
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Global Cochlear Implants Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report - Segmented By Fitting Type, End-User, and Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa) - Industry Forecast (2021 to 2026)

Pulished: April, 2021
ID: 10562
Pages: 180

Global Cochlear Implants Market Size (2021 to 2026)

As per our report, the worth of the global cochlear implants market is estimated to be growing at a CAGR of 11.4% from 2021 to 2026. The market is estimated to be worth USD 3.67 billion by 2026 and USD 2.14 billion in 2021. 

Cochlear implants are small neuroprosthetics medical devices that deliver a sound sense to people struggling with hearing problems. These devices are entirely different from hearing aids and can even work when hearing aids fail to solve the hearing ability.

MARKET DRIVERS:

Y-O-Y growth in the incidence of hearing impairments, rising aging population worldwide, and technological developments in this field are majorly accelerating the global cochlear implants market.

 As per the statistics published by the World Health Organization (WHO), an estimated 466 million population worldwide are struggling with hearing problems, of which 34 million are kids. This number is further estimated to increase by 900 million by the end of 2050. Thus, an estimated 30% of the aged world’s population are facing hearing problems. Furthermore, the recent technological advancements have increased these devices' accuracy and battery life, which is now turned as a favorable sign of the market's growth rate.

Growing adoption of cochlear implants and the rising incidence of hearing inabilities are further estimated to drive market growth across all geographies. Product innovations and customizations are additionally expected to add support to the growth rate of the market. Key market players are focussing on manufacturing easy-to-use and more efficient cochlear implants. That waterproof and rechargeable cochlear implants integrated with the next-level technologies brought significant changes to the market in the recent past.

Various governments have taken multiple initiatives for R&D, and usage and cochlear implants have helped the market grow. This influence is expected to continue on the market in the coming days. Furthermore, increased disposable income and increasing healthcare expenditure further support the global cochlear implants market to achieve new growth during the forecast period.

MARKET RESTRAINTS:

High costs associated with these devices and low awareness of the cochlear implants market among patients and population significantly hamper the growth of the global cochlear implants market.

Impact of COVID-19 on the global cochlear implants market:

COVID-19 established limitations on audiology surgery and therapy services when it first appeared. For example, the possibility of aerosolizing the virus while drilling in the mastoid cavity increased the danger of infection during neurotological (a subset of ENT) procedures. As a result, individuals were screened for COVID-19 before surgery, which caused procedures to be postponed. In addition, appointments for the rehabilitation phase following a cochlear implant operation were canceled or postponed. On the other hand, surgical procedures gradually restarted at a varying rate in different countries as COVID-19 restrictions were eased.

Along with users, the epidemic has impacted cochlear implant makers. The epidemic wreaked havoc on worldwide logistics and supply chains, causing delays in firm activities, including raw material procurement, manufacturing, distribution, and sales. Despite the pandemic impacting cochlear implant surgery and related services, it also spurred new research projects. For example, ENT doctors and researchers at Nottingham University Hospitals devised a personal protective equipment solution designed for cochlear implantation surgeries in July 2020, which helped shorten the surgery's delay.

Countries including China, the United Kingdom, Spain, Germany, and the United States have seen a slow increase in surgery numbers since the COVID-19 limits were relaxed. As a result, in the second half of 2021, demand for cochlear implants is expected to return to normal. During the forecast period, key players' technological advancements, increased investment in R&D, and telehealth audiology care are expected to boost market expansion.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 to 2026

Base Year

2020

Forecast Period

2021 to 2026

Segments Covered

Based on the fitting type and end-user

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global cochlear implants market has been segmented and sub-segmented based on the fitting type, end-user, and region.

Cochlear Implants Market – By Fitting Type:

  • Unilateral Implant
  • Bilateral Implant

Based on the type fitting, the Unilateral Implant segment accounts for the value of 88.1% in revenue share due to advantageous factors such as low cost with a comparison of bilateral implants, reimbursement in an easy way, less anesthesia requirement, and short duration of surgery. Furthermore, the bilateral segment contributes to the high compound annual growth rate over the forecast period due to many advantageous factors such as growth in demand of children by cost-effectiveness and best speech recognition in noise. Additionally, this segment is a better option for better hearing in adults with disorders and disabilities.

Cochlear Implants Market – By End-User:

  • Adult
  • Pediatric

By the End-Users segment, the adult segment contributes a share of 60.6% in 2020 due to advantageous factors such as the effect of a large population, advancements of adult cochlear implants, and the increment of numerous speeches by therapies, severe profounds of hearing loss. These are boosters of the adult segment. On the other hand, during the forecast period, the pediatric segment is recording a high compound annual growth rate due to advantageous factors such as numerous adults with severe hearing compared to children.

Cochlear Implants Market – By Region:

  • North America
    • The United States
    • Canada
    • Rest of North America
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of EU
  • Asia-Pacific
    • India
    • China
    • Japan
    • Australia
    • New Zealand
    • South Korea
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Rest of Latin America
  • The Middle East and Africa

Geographically, the North American cochlear implants market is currently leading the global market by accounting for the largest share due to significant market key players and the high adoption rate of modern technologies in healthcare industries. Moreover, the elevation of spending in healthcare with strong supportiveness by government research activities and developments. Furthermore, the North American region has a massive availability of skilled professionals and knowledgeable audiologists, which is a big plus for the market to grow further during the forecast period. Additionally, there are favorable reimbursement schemes in the North American region to fuel market growth revenue share.

In 2019, the European cochlear implants market was the second-largest revenue-generating region in the global market. Factors such as providing lucrative opportunities for the healthcare industry, increasing support from the European governments in the treatment options, and the growing demand for cochlear implants are majorly supporting the European market.

Over the forecast period, the Asia-Pacific region is registering the fastest growth rate among all the regions. The surge in urbanization in emerging countries of Asia-pacific and the high presence of noise pollution due to automobiles and factories are majorly creating demand for cochlear implants in this region. the As a result, Asia-Pacific region has a rapid increase in hearing loss incidence. Moreover, the growing hearing impairment burden and rise in the purchasing power in countries such as China, Singapore, and India favor the market.

The Middle East and African market contributed less share to the global cochlear implants market and is expected to grow steadily during the forecast period. Factors such as developing economic countries, especially in the African region, growth in the aging population, and undeveloped market of medical devices are primarily helping the market in this region.

KEY MARKET PLAYERS:

The key market leaders in the global cochlear implants market analyzed in this report are Cochlear Ltd., MED-EL Medical Electronics, Demant A/S, Oticon Medical, Nurotron Biotechnology Co Ltd, and Sonova.

RECENT MARKET HAPPENINGS:

  • In August 2019, Oticon Xceed was launched by Oticon A/S for powerful hearing aid of product portfolio. This product is specially designed for children and also for adults to prevent severe minimal hearing loss.
  • In July 2019, two new products were launched by MED-EL Medical Electronics. SONNET 2 and MAESTRO 8 are product portfolios of cochlear implants products. It helps transform the user's lives and brings more sales to have a large revenue share, and helps in the expansion of favor of MED-EL Medical Electronics.
  • In September 2016, World's thinnest full-length perimodiolar electrode was launched by Cochlear Ltd. It helps in the implantation of the cochlear and the protection of delicate structures in the inner ear.
  1. Introduction
    1. Market Definition
    2. Study Deliverables
    3. Base Currency, Base Year and Forecast Periods
    4. General Study Assumptions
  2. Research Methodology
    1. Introduction
    2. Research Phases
        1. Secondary Research
        2. Primary Research
        3. Econometric Modelling
        4. Expert Validation
    3. Analysis Design
    4. Study Timeline
  3. Overview
    1. Executive Summary
    2. Key Inferences
    3. New Developments
  4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
    1. Market Drivers
    2. Market Restraints
    3. Key Challenges
    4. Current Opportunities in the Market
  5. Market Segmentation
    1. By Fitting Type
      1. Unilateral Implant
      2. Bilateral Implant
      3. Y-o-Y Growth Analysis, By Fitting Type
      4. Market Attractiveness Analysis, By Fitting Type
      5. Market Share Analysis, By Fitting Type
    2. By End User
      1. Adult
      2. Pediatric
      3. Y-o-Y Growth Analysis, By End User
      4. Market Attractiveness Analysis, By End User
      5. Market Share Analysis, By End User
  6. Geographical Analysis
    1. Introduction    
      1. Regional Trends       
      2. Impact Analysis        
      3. Y-o-Y Growth Analysis            
        1. By Geographical Area
        2. By Type
        3. By End User
      4. Market Attractiveness Analysis          
        1. By Geographical Area
        2. By Type
        3. By End User
      5.          Market Share Analysis   
        1. By Geographical Area
        2. By Type
        3. By End User
    2. Asia-Pacific
      1. Introduction
      2. India
      3. China
      4. Japan
      5. South Korea
      6. Australia
      7. Rest of Asia-Pacific
  7. Strategic Analysis
    1. PESTLE analysis
      1. Political
      2. Economic
      3. Social
      4. Technological
      5. Legal
      6. Environmental
    2. Porter’s Five analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Consumers
      3. Threat of New Entrants
      4. Threat of Substitute Products and Services
      5. Competitive Rivalry within the Industry
  8. Market Leaders' Analysis
    1. Cochlear Ltd.
      1. Overview
      2. Product Analysis
      3. Strategic Evaluation and Operations
      4. Financial analysis
      5. Legal issues
      6. Recent Developments
      7. SWOT analysis
      8. Analyst View
    2. MED-EL Medical Electronics
    3. Demant A/S
    4. Oticon Medical
    5. Nurotron Biotechnology Co Ltd
    6. Sonova
  9. Competitive Landscape
    1. Merger and Acquisition Analysis
    2. Agreements, Collaborations and Joint Ventures
    3. New Product Launches
  10. Market Outlook and Investment Opportunities
  11. Appendix
    1. List of Tables
    2. List of Figures  
  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
  • The segment-level analysis in terms of fitting type and end-user along with market size forecasts and estimations to detect key areas of industry growth in detail.
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics.
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis.
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development.
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment.
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies.
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions.
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market.
  1. Global cochlear implants Market, By Region, From 2021 to 2026 (USD Billion)
  2. Global cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  3. Global Unilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  4. Global Bilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  5. Global cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  6. Global Adult Market, By Region, From 2021 to 2026 (USD Billion)
  7. Global Pediatric Market, By Region, From 2021 to 2026 (USD Billion)
  8. North America cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  9. North America Unilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  10. North America Bilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  11. North America cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  12. North America Adult Market, By Region, From 2021 to 2026 (USD Billion)
  13. North America Pediatric Market, By Region, From 2021 to 2026 (USD Billion)
  14. United States cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  15. United States cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  16. Canada cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  17. Canada cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  18. Europe cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  19. Europe Unilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  20. Europe Bilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  21. Europe cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  22. Europe Adult Market, By Region, From 2021 to 2026 (USD Billion)
  23. Europe Pediatric Market, By Region, From 2021 to 2026 (USD Billion)
  24. U.K. cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  25. U.K. cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  26. Germany cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  27. Germany cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  28. France cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  29. France cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  30. Italy cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  31. Italy cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  32. Spain cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  33. Spain cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  34. Asia Pacific cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  35. Asia Pacific Unilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  36. Asia Pacific Bilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  37. Asia Pacific cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  38. Asia Pacific Adult Market, By Region, From 2021 to 2026 (USD Billion)
  39. Asia Pacific Pediatric Market, By Region, From 2021 to 2026 (USD Billion)
  40. Japan cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  41. Japan cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  42. China cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  43. China cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  44. India cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  45. India cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  46. Australia cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  47. Australia cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  48. South Korea cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  49. South Korea cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  50. Latin America cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  51. Latin America Unilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  52. Latin America Bilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  53. Latin America cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  54. Latin America Adult Market, By Region, From 2021 to 2026 (USD Billion)
  55. Latin America Pediatric Market, By Region, From 2021 to 2026 (USD Billion)
  56. Brazil cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  57. Brazil cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  58. Argentina cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  59. Argentina cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  60. Mexico cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  61. Mexico cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  62. Rest of Latin America cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  63. Rest of Latin America cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  64. Middle East and Africa cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  65. Middle East and Africa Unilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  66. Middle East and Africa Bilateral Implants Market, By Region, From 2021 to 2026 (USD Billion)
  67. Middle East and Africa cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  68. Middle East and Africa Adult Market, By Region, From 2021 to 2026 (USD Billion)
  69. Middle East and Africa Pediatric Market, By Region, From 2021 to 2026 (USD Billion)
  70. Middle East cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  71. Middle East cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)
  72. Africa cochlear implants Market, By Fitting Type, From 2021 to 2026 (USD Billion)
  73. Africa cochlear implants Market, By End-user, From 2021 to 2026 (USD Billion)

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