Cochlear Implants Market Size, Share & Industry Analysis, By Implant Type (Unilateral and Bilateral), By Patient Type (Pediatric and Adult), By Severity (Moderate and Severe & Profound), By Distribution Channel (Medical Channel and Private Practices), and Regional Forecast, 2024-2032

The global cochlear implants market size was valued at USD 2.19 billion in 2023. The market is projected to grow from USD 2.52 billion in 2024 to USD 8.06 billion by 2032, exhibiting a CAGR of 15.6% during the forecast period. North American dominated the cochlear implants market with a market share of 43.38% in 2023.

Cochlear implants are small, complex devices that help improve hearing in people suffering from hearing loss. These devices are designed to mimic the functions of a healthy ear by replacing the damaged sensory cells. The growing prevalence of severe hearing loss among the population, increasing aging population, and rising awareness regarding various treatment options are some of the major factors supporting the market growth.

• According to a 2023 article published by the National Council on Aging (NCOA), around 416.9 million individuals globally were affected by moderate to severe hearing loss.

The COVID-19 pandemic had a negative impact on the global cochlear implants market size. The cancellation and postponement of elective ENT surgeries owing to lockdowns and travel restrictions during the pandemic was the most crucial factor that caused a decline in the market’s growth. Major players operating in the market also witnessed a decline in their revenues due to decreased demand for these implants. However, with the ease of pandemic restrictions, the number of elective surgeries increased and the demand for these devices witnessed a massive growth globally in 2021. The key players also saw a notable growth in their revenues owing to increased sales of the devices.

Cochlear Implants Market Trends

Rising Technological Advancements in Cochlear Devices

Key players are focusing on developing and introducing novel products to address the increasing patient population suffering from severe to profound hearing loss. This factor is encouraging technological advancements in the designing and manufacturing of hearing devices.

The increasing technological innovations introduced by key players operating in the market, including the integration of Artificial Intelligence (AI) and advanced algorithms in the devices, is one of the major trends seen in the market. These technological advances are leading to the creation of smaller, lower-profile implants and the integration of additional features to cochlear implant sound processors of the devices.

There is a robust R&D focus of the market players, research institutes, and other healthcare organizations to develop and introduce products with advanced technologies and expand the applications of the implants. This is a factor playing a crucial role in the evolution of the industry.

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Cochlear Implants Market Growth Factors

Rising Prevalence of Hearing Loss and Impairment to Boost Product Demand

The growing number of children and adults suffering from some level of hearing loss and impairment is increasing the requirement for treatment for these conditions. The strategic initiatives and programs launched by various healthcare organizations and market players to increase awareness regarding the medical condition are increasing the number of diagnoses of hearing loss among the population.

• In March 2024, WS Audiology A/S, one of the leading players in the hearing devices industry, launched an awareness campaign in India to tackle the social stigma regarding hearing loss and promote hearing care for all.

The growing diagnosis rate in both developed and emerging countries can be attributed to the increasing adoption of these devices. Also, the growing focus of the key players on developing and launching technologically advanced products is further anticipated to fuel the demand for implants among the patient population.

Thus, rising awareness, coupled with the growing efforts of the companies to develop and introduce technologically advanced products to cater to the increasing demand, is expected to fuel the global cochlear implants market growth.

RESTRAINING FACTORS

Limited Awareness and Social Stigma to Hamper Product Adoption

The growing prevalence of hearing disorders among the population is leading to a rising patient pool requiring hearing devices, including cochlear implants. However, there is limited awareness regarding these devices, especially in emerging countries, due to which the rate of new-born screenings in countries, such as India, Saudi Arabia, and African nations is comparatively low.

• According to a 2022 article published by the National Center for Biotechnology Information (NCBI), approximately 31% of the survey respondents with difficulty in hearing reported that they were unaware of cochlear implants.

Additionally, the increased social stigma among the population with respect to wearing hearing devices is another major factor anticipated to hinder the adoption of these devices in these countries.

Cochlear Implants Market Segmentation Analysis

By Implant Type Analysis

Unilateral Segment Dominated Market Owing to Increasing Number of Unilateral Implant Procedures

Based on implant type, the market is bifurcated into unilateral and bilateral.

The unilateral segment accounted for the largest cochlear implant market share in 2023 owing to an increased number of unilateral cochlear implantation surgeries among the population. The rising prevalence of severe to profound sensorineural hearing loss among the population is resulting in a larger number of patients requiring unilateral implants. Furthermore, the increasing focus of the companies on expanding the coverage for unilateral implants is expected to boost the growth of the unilateral implants segment during the forecast period.

• In January 2022, the U.S. FDA approved the expansion of Cochlear Nucleus System indications to include Single Sided Deafness and Unilateral Hearing Loss for individuals five years and older.

The bilateral segment is expected to grow at a steady rate during the forecast period. The growth of the segment can be attributed to rising clinical studies depicting the benefits of bilateral implants, especially in children, including significant improvement in their ability to perceive speech.

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By Patient Type Analysis

Adult Segment Dominated Market Due to Higher Implant Procedures Among Adult Population

Based on patient type, the market is divided into pediatric and adult.

The adult segment accounted for the largest share of the cochlear implants market in 2023. The dominance of the segment is attributed to the rising incidence of hearing loss among adults, leading to the growing number of treatment procedures among patients.

• According to a 2023 article published by the National Council on Aging, around 31.1% of people aged 65 years and above experience hearing loss. Also, 40.3% of adults aged 75 years and above experience hearing loss in the U.S.

The pediatric segment is expected to record a considerable growth rate during the forecast period. The rising initiatives to promote new-born hearing screening are significant factors supporting the adoption of these devices among children. The growing awareness and screening rate are expected to fuel the growth of the segment during the forecast period.

By Severity Analysis

Severe & Profound Segment Dominated Market Owing to Rising Adoption of Implants Among Patients

Based on severity, the market is divided into moderate and severe & profound.

The severe & profound segment dominated the market in 2023 and is expected to record a considerable CAGR during the forecast period. The rising prevalence of severe hearing loss among adults and children and growing adoption of these devices are some of the significant factors contributing to the growth of the segment.

• According to a 2019 article published by the Royal National Institute for Deaf People (RNID), there were an estimated 1.2 million adults in the U.K. who had severe hearing loss.

The moderate segment is also projected to grow steadily during the forecast period. The growing focus of the major companies on developing and introducings implants for the popualtion suffering from mild hearing loss is one of the factors favoring the adoption of these devices.

By Distribution Channel Analysis

Medical Channel Segment Dominated Market Owing to Increasing Procedures in Hospitals

Based on distribution channel, the market is segmented into medical channel and private practices.

The medical channel segment held the lion’s share of the market in 2023. Growing awareness among the population regarding the benefits of early hearing screening and hearing devices, including hearing implants, is one of the crucial factors increasing the number of patients visiting hospitals for treatments and procedures. Along with this, the increasing number of hospitals in emerging countries is another factor contributing to the growth of the segment.

The private practices segment is expected to grow at a considerable rate during the forecast period. The rising preference among patients toward specialty clinics owing to better facilities and quality care is a major factor augmenting the growth of the segment.

REGIONAL INSIGHTS

Based on geography, the market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

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North America dominated the global cochlear implants market share in 2023 and was valued at USD 0.95 billion. The growing prevalence of hearing loss among individuals in the U.S. and Canada, along with increasing treatment procedures, is boosting the adoption of the devices in the region.

• According to a 2023 article published by the National Institute on Deafness and Other Communication Disorders (NIDCD), approximately 183,100 cochlear implants were implanted in adults and children in the U.S. as of July 2022.

Europe is projected to witness nominal growth in the global market during the forecast period. The growing focus of government bodies and healthcare organizations on increasing awareness regarding hearing loss and the benefits of hearing devices, including implants, in the overall health of the individual is one of the main factors contributing to the growth of the region.

Asia Pacific is anticipated to grow at a significant rate during the forecast period. The growing geriatric population who are at an increased risk of developing hearing loss with growing age is a significant factor contributing to a larger patient population requiring implant procedures. The increasing focus of the major players and government bodies on promoting awareness regarding new-born hearing screening is another factor expected to spur the growth of the region during the forecast period.

• In June 2023, the New South Wales (NSW) Government announced funding to support workshops being held in China and Sydney that focused on new-born hearing screening.

Also, the rest of the world is projected to grow at a lucrative rate. The growing healthcare expenditure and improving medical infrastructure are some of the primary factors expected to fuel the demand for hearing devices, including cochlear implants, in countries, such as Brazil, Mexico, and Saudi Arabia, among others.

List of Key Companies in Cochlear Implants Market

Strong Focus of Key Players On Mergers & Acquisitions to Support Market Consolidation

The global market is highly fragmented, with few prominent players accounting for the majority of the market share.

Cochlear Ltd., Med-El Corporation, and Advanced Bionics Corporation are the major players operating in the market, with their wide range of products catering to the rising demand among the population.

The increasing R&D activities to develop and introduce technologically advanced products, along with the growing focus of these companies on mergers and acquisitions, are some of the crucial factors supporting the dominance of these companies in the market.

• In April 2022, Cochlear Ltd. agreed to acquire Oticon Medical’s cochlear implants business solutions to strengthen its product portfolio and expand its brand presence globally.

Some of the other market players include Shanghai Listent Medical TECH Co., Ltd., TODOC Co., Ltd., and several other emerging players. These companies are focused on increasing their R&D activities to develop advanced products for the growing number of patients seeking treatment. The strong efforts of these small-scale companies to gain approval and introduce novel products in the market are expected to support their increasing market shares.

LIST OF KEY COMPANIES PROFILED:

• Cochlear Ltd. (Australia)


• MED-El Corporation (Austria)


• Sonova (Switzerland)


• Demant A/S (Denmark)


• Zhejiang Nurotron Biotechnology Co., Ltd. (China)


• Shanghai Listent Medical TECH Co., Ltd. (China)


• Neubio AG (Switzerland)

KEY INDUSTRY DEVELOPMENTS:

• December 2023 – Sonova received the U.S. FDA approval and announced the expansion of its Marvel CI product offerings to improve hearing care delivery for patients.


• November 2022 – Cochlear Ltd. received the U.S. FDA approval for its Nucleus 8 sound processor, making it the smallest and lightest BTW implant available in the market.


• October 2022 – Sonova launched an emotional patent connection campaign to promote awareness regarding hearing impairment among adults and children.


• January 2022 – Cochlear Ltd. expanded the insurance coverage of cochlear implants for single-sided deafness and unilateral hearing loss for individuals aged five years and older.


• August 2021 – Demant A/S launched its Neuro Zti MRI 3T cochlear implants, which can withstand the strong magnetic field of an MRI scanner with up to 3T magnetic strength.

REPORT COVERAGE

An Infographic Representation of Cochlear Implants Market

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The report provides a detailed analysis of the industry and focuses on key aspects, such as leading companies, implant types, severity, patient types, and distribution channels. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market in recent years.

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