Cochlear implants are used to treat the hearing problems in deaf patients. These implant
has replaced the old hearing aid devices. Many manufacturers are involved in improving the
quality and design of the cochlear implants. During the last few years, there has been a
significant increase in the demand for cochlear implants. According to the research carried
out by DeafandHoH.com, LLC. in 2014, 360 million people worldwide were suffering from
moderate to profound hearing loss. Additionally, according to the Centers for Disease
Control and Prevention, by 2025, it is estimated that 900 million people across the globe are
likely to suffer from hearing impairment of which around 90 million of these people may
more likely from Europe. The global cochlear implants system market is majorly driven by
increasing number of patients having hearing loss, rising geriatric population, acceptance of
hearing implants by the patients with hearing disorders, and favorable reimbursement
policies. According to the U.S. Census Bureau (2015), 8.5% of people across the globe i.e.
617 million were over age 65. During the last few years, people across the globe have
adopted these devices, which have helped the growth of the market. According to the
National Institute on Deafness and Other Communication Disorders, in 2013, approximately
324,200 registered devices have been implanted worldwide. Additionally, increasing
healthcare expenditure and government support have fuelled the market growth. However,
the cost of impacts can be more than USD 100,000 which are not affordable to the middle-
class population, thus, the high cost of the implants may slow the growth of the market.
The market for Cochlear Implants Market is expected to grow at the CAGR of 9.86% during
the forecast period and is estimated to reach USD 3,203.8 million by 2023.
Segments
The Global Cochlear Implants Market has been segmented on the basis of products, types
and end users.
On the basis of the products, the global cochlear implants market is segmented into the
cochlear implant system, and accessories & upgrades.
On the basis of the types, the market is segmented into the unilateral implant and bilateral
implant.
On the basis of the end users, the market is segmented into hospitals & clinics, ambulatory
surgical centers, research & academic institutes, and others.
Key players in the global cochlear implants market:
Some of the major players in this market are Advanced Bionics AG (Switzerland), MED-El
(Austria), Cochlear Ltd (Australia), GAES MÉDICA (Spain), William Demant Holding Group
(Denmark), Widex (Denmark), and Microson S.A. (Spain).
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Key Findings:
The global cochlear implants market is expected to grow at a CAGR of 9.86% during
the period 2017-2023. Increasing prevalence of the ear infection, increasing geriatric
population, and technological advances are some of the major factors responsible for
market growth
The cochlear implant system type of the products holds the major share of the
market
MED-El, Cochlear Ltd, Advanced Bionics AG, GAES MÉDICA, and William Demant
Holding Group are some of the prominent market players in the global cochlear
implants market
Regional analysis