Cochlear Implants Market, Size, Share, Opportunities and Forecast, 2020-2027

SKU: DAG139 | Last Updated On: Apr 14 2020 | No. of Pages: 200 | Available Formats

> Global Cochlear Implants Market Expected to reach a high CAGR by 2027: DataM Intelligence

Global Cochlear Implants Market is segmented By Type (Unilateral Implantation, Bilateral Implantation), By End-User (Pediatrics, Adults), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2020-2027

Cochlear Implants Market

Market Overview

A cochlear implant is an electronic device which is surgically implanted that stimulates the cochlear nerve and restores the sense of hearing through transmitting the electrical signals to the brain. People mostly use these implants as an hearing aid with low to high hearing loss.

These cochlear implants consist of two parts, the inside component is embedded across the skin and the external component which is worn at the back of the ear. These implants bypass the non-functioning part of the inner ear and provide electrical stimulation to the nerve fibers present in cochlea.

The global cochlear implant market size was worth $ XX billion in 2018 and is estimated to reach $ XX billion by 2026, growing at a CAGR of XX % during the forecast period (2020-2027).

Source: DataM Intelligence Analysis (2019)

Market Dynamics

The global cochlear implant market is growing owing to several factors such as rising geriatric population, technological advancements in devices to make it convenient for use.

The growing geriatric population, of which approximately one-third people are affected by disabling hearing loss, is one of the major factors boosting the growth of the cochlear implants market globally. For instance, according to the U.S. Census Bureau, about 8.5% of people worldwide, i.e., 617 million were over age 65 were suffering from hearing loss. Also, according to the World Health Organization (WHO) report 2019, about 466 million people are having disabling hearing loss globally. It is estimated that over 900 million people will have disabling hearing loss by 2050. About 1.1 billion young people (age between 12–35 years) are at risk of hearing loss, owing to exposure to noise in recreational settings. According to the Centers for Disease Control and Prevention (CDC), an estimated 900 million patients are likely to suffer from severe hearing impairment by 2025. There are approximately 72 million people who could potentially benefit from the use of a hearing device, including a cochlear implant or hearing aid. Hence, rising hearing disorders have increased the demand for hearing aid devices.

Also, the increasing technological advancements in the cochlear implants are enhancing the devices to transfer signals more accurately and increase its battery life. Several manufacturers are involved in improving the quality and design of cochlear implants. For instance, in July 2017, Cochlear Limited has taken a technological leap forward with a device that syncs up with various Apple products. The FDA approved Nucleus 7 Sound Processor is the first cochlear implant sound solution made specifically for use with iPhones, iPods and iPads.  It also has the distinction of being the smallest and lightest behind-the-ear cochlear implant currently on the market.

Rising favorable reimbursement policies and growing healthcare expenditure have also boosted the demand for cochlear implants. For instance, according to the National Institute on Deafness and Other Communication Disorders, in 2015, there were 324,200 registered devices implanted.

However, high cost of cochlear implants and difficulty in maintenance are some of the factors hampering the growth of the market.

Market Segment Analysis

By type, the cochlear implants market is segmented into unilateral implants and bilateral implants. Among these, the unilateral implants accounted for the largest market share in 2018, owing to its high demand globally. Unilateral implants are of lower cost compared to bilateral implants. According to some studies, the unilateral cochlear implant is more cost-effective for adults and have several health benefits.

On the other hand, the bilateral implants segment is estimated to grow at the fastest CAGR over the forecast period (2019-2026), owing to its ability to recognize the speech in noise, cost-effectiveness when implanted in children, and rising meningitis cases. Also, some countries offers reimbursement only after bilateral implantation, thus, increases the demand of these devices.

In December 2017, Cochlear and Sensorion collaborated to study combination therapies for patients with a cochlear implant. The companies would evaluate SENS-401 with cochlear’s implant. Cochlear invested about USD 1.8 million (€1.6 million) in shares of Sensorion as a part of this collaboration, . In exchange, Cochlear would receive a right of first negotiation for a global license of SENS-401 in patients along with specific cochlear devices.

Source: DataM Intelligence Analysis (2019)

Geographical Analysis

North America is dominating the global cochlear implant market accounted for the largest market share in 2018, owing to the developed healthcare system, better awareness among the people, and the presence of major market players in this region. The prevalence of hearing loss in the U.S. affects around 10.6 percent of the population, compared to 12.1 percent of the population in Germany and eight percent of those in Switzerland. According to Johns Hopkins Cochlear Center for Hearing and Public Health, approximately 38.2 million Americans (14.3%) report some degree of hearing loss. According to the National Institute on Deafness and Other Communication Disorders, approximately one in three people in the United States between the ages of 65 and 74 has hearing loss, and nearly half of those older than 75 have difficulty hearing. The number of adults in the United States above 20 years of age with hearing loss is expected to increase from the expected 44.11 million in 2020 to 73.50 million in 2060. The increase is greater in older adults with an expected 55.4% of US population above 70 years to suffer from hearing loss to 67.4% in 2060. Development of technological advanced implants is boosting the growth of the market in this region. For instance, in April 2019, Advanced Bionics received an approval from the Health Canada for its HiRes Ultra 3D Cochlear Implant. The implant is pain free and hassle free choice for patients undergoing MRI examinations.

Competitive Landscape

The global cochlear implants market is consolidated comprises of only few major players. Most of major players are based in the US and Europe, as these regions are more developed and better funded for healthcare. Some of the major players in the market include: Cochlear Ltd, MED-EL Medical Electronics, Oticon Medical, Advanced Bionics AG, Demant A/S, Sonova, Nurotron Biotechnology Co Ltd, among others.

The key players are adopting various growth strategies such as expansion, mergers & acquisitions, partnerships, product launches and collaborations which are contributing to the growth of the Cochlear Implant market globally. For instance,

  • On July 22nd 2019, MED-EL USA received the U.S. Food and Drug Administration (FDA) approval for its cochlear implant system for single-sided deafness (SSD) and asymmetric hearing loss (AHL). This is the first and only time that cochlear implants have been approved for these indications in the United States.
  • In September 2016, Cochlear Limited launched the Cochlear Nucleus Profile Implant with Slim Modiolar Electrode (CI532). The all new Slim Modiolar Electrode (CI532) is the world's thinnest full-length perimodiolar electrode.

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  • Product mapping in excel for the key product of all major market players

The global Cochlear Implant market report would provide an access to an approx. 44 market data table, 37 figures and 200 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

 

Table of Contents

  1. Cochlear Implant Market Methodology and Scope

    1. Research Methodology
    2. Research Objective and Scope of the Report
  2. Cochlear Implant Market – Market Definition and Overview

  3. Cochlear Implant Market – Executive Summary

    1. Market Snippet by Type
    2. Market Snippet by End-User
    3. Market Snippet by Region
  4. Cochlear Implant Market-Market Dynamics

    1. Market Impacting Factors
    2. Drivers
      1. Growing hearing impairment in geriatric population
      2. Rising technological advancements and increased battery life of cochlear implants
    3. Restraints
      1. High cost of the device and maintenance
      2. Risk of injuries in surgery restraints
    4. Opportunity
    5. Impact Analysis
  5. Cochlear Implant Market – Industry Analysis

    1. Porter's Five Forces Analysis
    2. Regulatory Analysis
    3. Supply Chain Analysis
    4. Pricing Analysis
    5. Product Innovations
    6. Unmet Needs
  6. Cochlear Implant Market – By Type

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type Segment
      2. Market Attractiveness Index, By Type Segment
    2. Unilateral Implantation*
      1. Introduction
      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
    3. Bilateral Implantation
  7. Cochlear Implant Market – By End-User

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User Segment
      2. Market Attractiveness Index, By End-User Segment
    2. Pediatrics*
      1. Introduction
      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
    3. Adults
  8. Cochlear Implant Market – By Region

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
      2. Market Attractiveness Index, By Region
    2. North America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. U.S.
        2. Canada
        3. Mexico
    3. Europe
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Germany
        2. U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    4. South America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    5. Asia Pacific
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. China
        2. India
        3. Japan
        4. Australia
        5. Rest of Asia Pacific
    6. The Middle East and Africa
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By End-User
  9. Cochlear Implant Market – Competitive Landscape

    1. Competitive Scenario
    2. Market Positioning/Share Analysis
    3. Mergers and Acquisitions Analysis
  10. Cochlear Implant Market- Company Profiles

    1. Cochlear Ltd.*
      1. Company Overview
      2. Product Portfolio and Description
      3. Key Highlights
      4. Financial Overview
    2. MED-EL GmbH
    3. Oticon Medical AB
    4. Advanced Bionics AG
    5. Demant A/S
    6. Sonova Holding AG
    7. Nurotron Biotechnology Co Ltd (List Not Exhaustive)
  11. Cochlear Implant Market – Premium Insights

  12. Cochlear Implant Market – DataM

    1. Appendix
    2. About Us and Services
    3. Contact Us

List of Tables & Figures

List of Tables

Table 1 Global Cochlear Implants Market Value, By Type, 2018,2022 & 2026 ($ Million)

Table 2 Global Cochlear Implants Market Value, By End-User, 2018,2022 & 2026 ($ Million)

Table 3 Global Cochlear Implants Market Value, By Region, 2018,2022 & 2026 ($ Million)

Table 4 Global Cochlear Implants Market Value, By Type, 2018,2022 & 2026 ($ Million)

Table 5 Global Cochlear Implants Market Value, By Type, 2017-2026 ($ Million)

Table 6 Global Cochlear Implants Market Value, By End-User, 2018,2022 & 2026 ($ Million)

Table 7 Global Cochlear Implants Market Value, By End-User, 2017-2026 ($ Million)

Table 8            Global Cochlear Implants Market Value, By Region, 2018,2022 & 2026 ($ Million)

Table 9 Global Cochlear Implants Market Value, By Region, 2017-2026 ($ Million)

Table 10          North America Cochlear Implants Market Value, By Type, 2017-2026 ($ Million)

Table 11           North America Cochlear Implants Market Value, By End-User, 2017-2026 ($ Million)

Table 12          North America Cochlear Implants Market Value, By Country, 2017-2026 ($ Million)

Table 13          South America Cochlear Implants Market Value, By Type, 2017-2026 ($ Million)

Table 14          South America Cochlear Implants Market Value, By End-User, 2017-2026 ($ Million)

Table 15          South America Cochlear Implants Market Value, By Country, 2017-2026 ($ Million)

Table 16          Europe Cochlear Implants Market Value, By Type, 2017-2026 ($ Million)

Table 17           Europe Cochlear Implants Market Value, By End-User, 2017-2026 ($ Million)

Table 18          Europe Cochlear Implants Market Value, By Country, 2017-2026 ($ Million)

Table 19          Asia-Pacific Cochlear Implants Market Value, By Type, 2017-2026 ($ Million)

Table 20          Asia-Pacific Cochlear Implants Market Value, By End-User, 2017-2026 ($ Million)

Table 21          Asia-Pacific Cochlear Implants Market Value, By Country, 2017-2026 ($ Million)

Table 22          Middle East & Africa Cochlear Implants Market Value, By Type, 2017-2026 ($ Million)

Table 23          Middle East & Africa Cochlear Implants Market Value, By End-User, 2017-2026 ($ Million)

Table 24          Cochlear Ltd.: Overview

Table 25          Cochlear Ltd.: Product Portfolio

Table 26          Cochlear Ltd.: Key Developments

Table 27          MED-EL GmbH: Overview

Table 28          MED-EL GmbH: Product Portfolio

Table 29          MED-EL GmbH: Key Developments

Table 30          Oticon Medical AB: Overview

Table 31          Oticon Medical AB: Product Portfolio

Table 32          Oticon Medical AB: Key Developments

Table 33          Advanced Bionics AG: Overview

Table 34          Advanced Bionics AG: Product Portfolio

Table 35          Advanced Bionics AG: Key Developments

Table 36          Demant A/S: Overview

Table 37          Demant A/S: Product Portfolio

Table 38          Demant A/S: Key Developments

Table 39          Sonova Holding AG: Overview

Table 40          Sonova Holding AG: Product Portfolio

Table 41          Sonova Holding AG: Key Developments

Table 42          Nurotron Biotechnology Co Ltd: Overview

Table 43          Nurotron Biotechnology Co Ltd: Product Portfolio

Table 44          Nurotron Biotechnology Co Ltd: Key Developments

List of Figures

Figure 1           Global Cochlear Implants Market Share, By Type, 2018 & 2026 (%)

Figure 2          Global Cochlear Implants Market Share, By End-User, 2018 & 2026 (%)

Figure 3          Global Cochlear Implants Market Share, By Region, 2018 & 2026 (%)

Figure 4          Global Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 5          Global Cochlear Implants Market Y-o-Y Growth, By Type, 2018-2026 (%)

Figure 6          Unilateral Implantation: Global Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 7           Bilateral Implantation: Global Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 8          Global Cochlear Implants Market Y-o-Y Growth, By End-User, 2018-2026 (%)

Figure 9          Pediatrics: Global Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 10        Adults: Global Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 11         Global Cochlear Implants Market Y-o-Y Growth, By Region, 2018-2026 (%)

Figure 12         North America Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 13         North America Cochlear Implants Market Share, By Type, 2018 & 2026 (%)

Figure 14         North America Cochlear Implants Market Share, By End-User, 2018 & 2026 (%)

Figure 15         North America Cochlear Implants Market Share, By Country, 2018 & 2026 (%)

Figure 16         South America Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 17         South America Cochlear Implants Market Share, By Type, 2018 & 2026 (%)

Figure 18        South America Cochlear Implants Market Share, By End-User, 2018 & 2026 (%)

Figure 19         South America Cochlear Implants Market Share, By Country, 2018 & 2026 (%)

Figure 20        Europe Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 21         Europe Cochlear Implants Market Share, By Type, 2018 & 2026 (%)

Figure 22        Europe Cochlear Implants Market Share, By End-User, 2018 & 2026 (%)

Figure 23        Europe Cochlear Implants Market Share, By Country, 2018 & 2026 (%)

Figure 24        Asia-Pacific Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 25        Asia-Pacific Cochlear Implants Market Share, By Type, 2018 & 2026 (%)

Figure 26        Asia-Pacific Cochlear Implants Market Share, By End-User, 2018 & 2026 (%)

Figure 27        Asia-Pacific Cochlear Implants Market Share, By Country, 2018 & 2026 (%)

Figure 28        Middle East & Africa Cochlear Implants Market Value, 2017-2026 ($ Million)

Figure 29        Middle East & Africa Cochlear Implants Market Share, By Type, 2018 & 2026 (%)

Figure 30        Middle East & Africa Cochlear Implants Market Share, By End-User, 2018 & 2026 (%)

Figure 31         Cochlear Ltd.: Financials

Figure 32        MED-EL GmbH: Financials

Figure 33        Oticon Medical AB: Financials

Figure 34        Advanced Bionics AG: Financials

Figure 35        Demant A/S: Financials

Figure 36        Sonova Holding AG: Financials

Figure 37        Nurotron Biotechnology Co Ltd: Financials

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