Global Cochlear Implants Market to reach USD 3.5 billion by 2027.
Global Cochlear Implants Market is valued approximately USD 1.75 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 10.3% over the forecast period 2021-2027. Cochlear implants are a small and complex electronic device that can help to provide a sense of sound to an individual who is intensely deaf or is hard-of-hearing. The implant contains an external portion that sits behind the ear and another portion that is surgically positioned under the skin. The rising geriatric population is helping in the propelling cochlear implant market as more and more people are experiencing hearing problem. The rising awareness about the cure of hearing problems, coupled with the technological advancements in the area of cochlear implants, are driving the Cochlear Implants market. The supporting governmental policies too are being helpful for this market. According to U.S. Food and Drug Administration [FDA], roughly 118,100 devices have been implanted in adults and 65,000 in children in USA as of 2019. Globally in 2019, approximately 736,900 registered devices have been implanted. The high maintenance cost associated with cochlear implants may act as a restraint for its growth. However, Scientists are exploring new avenues in the research and development of implants. For example, whether using a shortened electrode array, inserted into a portion of the cochlea can help individuals whose hearing loss is limited to the higher frequencies while preserving their hearing of lower frequencies or they are looking at the probable benefits of coupling a cochlear implant in one ear with another cochlear implant. This acts as an opportunity for Cochlear Implants Market in subsequent decade.

Key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World are analysed to provide a holistic picture of Cochlear Implants Market. Due to higher adoption of cochlear implants as well as higher per capita income, North America has emerged as a significant region across the world in terms of market share. Whereas, Asia-Pacific is expected to exhibit highest growth rate for the forecast period 2021-2027 owing to the growing geriatric population. Rising disposable income and growing awareness for cochlear implants will also boost growth in this region.

Major market player included in this report are:
Cochlear Ltd.
Sonova
MED-EL Medical Electronics
Demant A/S
Nurotron Biotechnology Co. Ltd.
Advanced Bionics
Sophono
Oticon
Neurelec

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Types Of Fitting:
Unilateral Implants
Bilateral Implants

By End Use:
Adult
Pediatric

By Region:
North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Cochlear Implants Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors