DUBLIN--(BUSINESS WIRE)--The "Cochlear Implants Market to 2027 - Global Analysis and Forecasts by Type of Fitting and By End User and Geography" report has been added to ResearchAndMarkets.com's offering.
The global cochlear implants market is expected to reach US$ 4,124.1 Mn in 2027 from US$ 1,510.9 Mn in 2018. The market is estimated to grow with a CAGR of 11.9% from 2019-2027.
The market is driven by factors such as, growing the geriatric population, increase in the number of patients suffering from hearing loss, and increasing R&D expenditures in medical device companies. However, the restraining factors for the market are the high cost of cochlear implants and side effects associated with the cochlear surgery.
Hearing loss is on the rise. Unless this trend is reversed, it will mean higher direct costs for health systems. The need will grow for ear and hearing care services and related technologies, such as hearing devices, cochlear implants, and others. If these needs are not met, this would be detrimental not only for individuals in terms of social isolation and increased poverty but also for societies as a whole, due to lower productivity. A number of governments around the world have recognized the importance of mitigating current trends by preventing hearing loss in the first instance.
Several factors like growing global population, rising genetic diseases, and infections leading to hearing loss, increasing geriatric population and others are all together driving the increase in hearing loss worldwide. According to the report published by World Health Organization (WHO) in 2018, 466 million people across the globe suffered from hearing loss and the number is expected to rise to 630 million by 2030 and 900 million by 2050. Therefore, owing to these factors, the market is likely to witness growth during the forecast period.
Global cochlear implants market was segmented by type of fitting and end user. The type of fitting segment was further divided as unilateral cochlear implantation and bilateral cochlear implantation. Based on the end user, the cochlear implants market is segmented into adults and pediatrics. The adults held the major market share among the end user segment owing to the growing geriatric population across the globe.
Key Topics Covered:
1.1 Scope of The Study
1.2 Report Guidance
1.3 Market Segmentation
2. Global Cochlear Implants Market - Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Global Cochlear Implants- Market Landscape
4.2 PEST Analysis
5. Global Cochlear Implants Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Geriatric Population
5.1.2 Increase In Number of Patients Suffering From Hearing Loss
5.1.3 Increasing R&D Expenditures In Medical Device Companies
5.2 Key Market Restraints
5.2.1 High Cost of Cochlear Implants
5.2.2 Side Effects Associated With The Cochlear Surgery
5.3 Key Market Opportunities
5.3.1 Increasing Medical Tourism In Emerging Nations
5.4 Future Trends
5.4.1 Growing Innovations In Cochlear Implants
5.5 Impact Analysis of Drivers And Restraints
6. Cochlear Implants Market - Global Analysis
6.1 Global Cochlear Implants Market Revenue Forecasts And Analysis
6.2 Global Cochlear Implants Market, By Geography - Forecasts And Analysis
6.3 Performance of Key Players
6.3.1 Cochlear Ltd.
7. Cochlear Implants Market Analysis And Forecasts To 2027 - Type of Fitting
7.2 Global Cochlear Implants Market Share By Type of Fitting 2018 & 2027 (%)
7.3 Unilateral Implantation Market
7.4 Bilateral Implantation Market
8. Cochlear Implants Market Analysis And Forecasts To 2027 - End User
8.2 Global Cochlear Implants Market Share By End User 2018 & 2027 (%)
8.3 Adults Market
8.4 Pediatrics Market
9. Cochlear Implants Market Revenue And Forecasts To 2027 - Geographical Analysis
10. Cochlear Implants Market - Industry Landscape
10.2 Comparative Company Analysis
10.3 Growth Strategies Done By The Companies In The Market, (%)
10.4 Organic Developments
10.5 Inorganic Developments
11. Cochlear Implants Market - Key Company Profiles
- Cochlear Ltd.
- Nurotron Biotechnology Co. Ltd.
- Demant A/S
- WIDEX A/S
- GN Hearing A/S
- Gaes Group
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