- Report ID: BMRC 421 | Number of pages: 193 | Publish Date: Jan 2020
Status: Published | Category: Healthcare | Delivery Timeline:
Cochlear Implant Market is valued at USD 1456.8 Million in 2018 and expected to reach USD 3062.9 Million by 2025 with the CAGR of 11.2% over the forecast period.
Increasing awareness about hearing aids is one of the major factors which propelling the growth of Global Cochlear Implant Market.
Cochlear is a new hearing implant using bone conduction. Also, a cochlear implant (CI) is a surgically implanted neuroprosthetic device to provide a person with moderate to profound sensorineural hearing loss a modified sense of sound. Advances in technology, increased confidence in experience, and changes in candidacy criteria have made cochlear implant available to a broader population. Due to these technological advances, expectations from cochlear implants have also changed considerably. In general, the improvement in auditory perception following cochlear implantation varies widely from user to user and can range from speech perception to music enjoyment. The improved speech and hearing ability offered by early cochlear implantation often results in better educational performance and a higher earning potential later in life. The surgery is typically followed up with post-cochlear implant aural rehabilitation, including an auditory verbal therapist, a speech language pathologist and a deaf educator.
Global Cochlear Implant Market is segmented on the basis of type, applications and region & country level. Based upon type, cochlear market is classified into binaural and unilateral. Based upon application, cochlear market is classified into adult and children.
The regions covered in this Global Cochlear Implant Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Cochlear implant is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Cochlear Implant Market Report covers prominent players are,
Increasing Awareness about Hearing Aids is the Key Factor Driving the Market Growth.
Increasing awareness about hearing aids is one of the factors which propelling the growth of global cochlear implant market. As per the World health organization report; in 2019, around 466 million people worldwide were with disabling hearing loss. It is estimated that by 2050, over 900 million people will have disabling hearing loss. 1.1 billion Young people are at risk of hearing loss due to exposure to noise in recreational settings. This has created the demand for hearing aid devices, which is one of the major factors fostering the market growth. Additionally, the global cochlear implants market is driven by increase in geriatric population which contributes to a large patient pool. According to World health organization, between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. However, high cost of the device, issues in cochlear batteries, and constrained healthcare expenditure may restrain the market growth. Moreover, recent advancements for developing innovative next generation sound processors and emerging potential markets provide lucrative opportunities for the further growth of the market.
North America is Expected to Dominate the Global Cochlear Implant Market
North America is expected to dominate the growth of global cochlear implant market due to the presence of large patient pool suffering from hearing loss, well-developed technology, high healthcare expenditure, and government support for the research & development in this region. According to research done by City Quiet, New York City was the only U.S. city on the top 10 noisiest cities in the world. The American Journal of Preventive Medicine discovered how much noisy traffic damages hearing health. They found that this noise pollution disturbed 11% of the population during the day and 4% at night.
Europe is expected to account for the second largest cochlear market owing to the rising number of people affected by noise pollution. Noise has emerged as a leading environmental nuisance in the WHO European Region, and the public complains about excessive noise more and more often. According to World health Organization, about 40% of the population in European countries is exposed to road traffic noise at levels exceeding 55 db. And 20% is exposed to levels exceeding 65 dB during the daytime also more than 30% is exposed to levels exceeding 55 dB at night.
The Asia Pacific is the expected to grow with a significant growth rate in the cochlear market owing to the increasing need for better devices, rapidly improving technology and the presence of huge patient pool in this region.
Key Benefits for Global Cochlear Implant Market Report–
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By Type: Binaural, Unilateral
By Applications: Adults, Children
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Cochlear Implant Market 2020 By Type (Binaural, Unilateral), By Applications (Adults, Children ) Forecast to 2025