Cochlear Implants Market
Valued at nearly $1.2bn in 2018, the Cochlear Implants Market is growing at a healthy pace—in the upper single-digits, at a compound annual growth rate (CAGR) of approximately 9%. Growth will be driven by the increasing global prevalence of hearing loss. According to the World Health Organization (WHO), approximately 466 million people have disabling hearing loss, including 34 million who are children, and this number is expected to grow to nearly 630 million by 2030.
Cochlear implants are one of the most successful neural prosthesis to date; yet, it is still a substantially underpenetrated market. A key to market growth is expanding the “standard of care” to older patients. Once primarily recommended for children born with severe-to-profound hearing loss, cochlear implant systems are now increasingly prescribed for adults (for one or both ears, if needed) as a supplement or alternative for hearing aids when they ineffective.
The cochlear implants market will also be driven by a long/established clinical history, strong benefits vs. risks, technological innovations, aggressive sales/marketing and education efforts, and increasing audiology practice referrals.
This report provides the following useful information:
- prevalence of hearing loss
- cochlear implant portfolios offered by leading manufacturers
- new and emerging cochlear implant systems
- key technological and market trends, market drivers
- market and competitive analysis (including 5-year market forecast and 2018 market share by region and corporate growth strategies).
Markets covered by this analysis include the US, Japan, the five major EU markets (France, Germany, Italy, Spain, and the UK), and the Rest of World (RoW) markets, which includes all other countries.