Pleasanton, CA, Nov. 10, 2021 (GLOBE NEWSWIRE) -- The Global Cochlear Implants Market Size is expected to reach USD 3.9 Bn by 2027, growing at a CAGR of 10.7% during the forecast period 2021-2027. An increase in surgical procedures for implantation and introduction of insurance & funding schemes for the implantation devices also boost the Cochlear Implants Market Industry during the forecast period.
This report has segmented the global Cochlear Implants market based on types, end user, and region. The research report studies the past, present, and future performance of the global market. The report further analyses the present competitive scenario, prevalent business models, and the likely advancements in offerings by significant players like Oticon Medical AB, William Demant Holding A/S, Amplifon SpA (Ampliter N.V.), Sonova Holding AG, Widex A/S, Cochlear Ltd., Medtronic PLC and more
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Rising prevalence of hearing loss among adults is the propelling factor for the growth of the global cochlear implants market. According to data published on 1st April 2021, by WHO (Worlds Health Organization), the number of populations suffering from hearing issues were 466.0 million among these population 432 million were adults and 34 million children across the globe. These show the high incidences of hearing impairment among adults.
Key Findings:
- Based on the type, the unilateral implant segment held the largest market share in 2020
- Based on end-users, the adult segment is expected to hold the largest share over the forecast period
- Based on regions, the Europe region is anticipated to hold a market’s maximum share in the year 2027 during cochlear implants market analysis. However, Asia-Pacific region shows lucrative growth in the Cochlear Implants Industry due to increasing demand for cochlear implants.
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The major company profiles covered in this Cochlear Implants Industry report are:
- Nurotron Biotechnology Co. Ltd.
- MED-EL GmbH
- Starkey laboratories, Inc.
- GN Hearing A/S
- Advanced Bionics AG
- Demant A/S
- RION Co., Ltd.
- Arphi Electronics Private Limited
- Austar Hearing Science and Technology (Xiamen) Co., Ltd.
- SeboTek Hearing Systems, LLC.
- IN4 Technology Corporation
- WS Audiology A/S
- Eargo, Inc.
Based on product, this report displays the production, revenue, price, market share, and growth rate of each type, primarily split into:
- Bilateral Implant
- Unilateral Implant
Based on the end users/applications, Cochlear Implants report focuses on the status and outlook for major applications/end users, consumption (sales), market share, and growth rate for each application, including:
- Children
- Adults
Regions covered in Cochlear Implants Market report:
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Spain, Italy, and Rest of Europe)
- Asia Pacific (China, Japan, India, Indonesia, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and Rest of Latin America)
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In terms of geography, in the year 2020, Europe region accounted the major share of the global Cochlear Implants market. This is owing to the presence of necessary infrastructure and availability of skilled professionals in countries of the region. Moreover, high funding available for research and development activities is another factor supporting European market. The rising prevalence of hearing inabilities in this region is the fuelling factor for the growth of the targeted market in the European region.
However, the Asia- Pacific region shows significant growth over the forecast period due to rising demand for cochlear implant among the increasing geriatric population in the Asia-Pacific region boosts the growth of the global Cochlear Implants market. Investment by major cochlear implants market players and local presence of key companies are also boosting the Cochlear Implants market during the forecast period.
The Unique Insights provided by this report also includes the following:
- In-Depth Value Chain Analysis
- Opportunity Mapping
- Sector Snapshot
- Key Players Positioning Matrix
- Regulatory Scenario
- Strategies Adopted-Benchmarking Heat Map
- Market Trends
- COVID-19 Impact Analysis
- Product Comparison
- Pre & Post COVID 19 Impact on The Global Cochlear Implants Industry
- Competitive Landscape
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Cochlear Implants Market report also provides an in-depth analysis of recent news developments and investments
- In August 2021, in Singapore, Cochlear global leader of implant hearing solution launched Nucleus Kanso 2 Sound Processor. This launch Cochlear’s ongoing commitment of invention in hearing technology by providing amplified access to connectivity of smartphone and help people suffering from hearing issues.
- In February 2021, GN Hearing announced launched of ReSound Key, a hearing aid that provides greater access to its proven and award-winning hearing technology worldwide which is based on advanced chip platform and have natural sound quality
Important Questions Answered:
- What is the growth potential of the Cochlear Implants market?
- Which company is currently leading the Cochlear Implants market? Will the company continue to lead during the forecast period 2021-2027?
- What are the top strategies that players are expected to adopt in the coming years?
- Which regional market is anticipated to secure the highest market share?
- How will the competitive landscape change in the future?
- What do players need to do to adapt to future competitive changes?
- What will be the total production and consumption in the Cochlear Implants Market by 2027?
- Which are the key upcoming technologies? How will they impact the Cochlear Implants Market?
- Which product segment is expected to show the highest CAGR?
- Which application is forecast to gain the biggest market share?
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