The market report provides insights about the Cochlear Implants industry that comprise weakness, strength, threats, Competitive Landscape, opportunities analysis, supply and value chain analysis, trends analysis, recent development, Quantitative & Qualitative analysis and the factor that drives and hamper the market growth during the forecast period. Also, the study provides an in-depth analysis of the various segments of the market.
Cochlear implants are used to treat hearing problems in deaf patients. These implant has replaced the old hearing aid devices. Many manufacturers are involved in improving the quality and design of cochlear implants. During the last few years, there has been a significant increase in the demand for cochlear implants. According to the research carried out by DeafandHoH.com LLC., in 2014, 360 million people worldwide were suffering from moderate to profound hearing loss. Additionally, according to the Centers for Disease Control and Prevention, by 2025, it is estimated that 900 million people across the globe are likely to suffer from hearing impairment of which around 90 million of these people may more likely from Europe.
Notably, rising geriatric population is the key factor driving the cochlear implant market. According to the U.S. Census Bureau (2015), 8.5% of people across the globe i.e., 617 million were over age 65.
Other push factors such as an increasing number of patients having hearing loss, acceptance of hearing implants by the patients with hearing disorders, and favorable reimbursement policies are also propelling the growth of the market. According to the National Institute on Deafness and Other Communication Disorders, in 2013, approximately 324,200 registered devices have been implanted worldwide.
However, the cost of impacts can be more than USD 100,000 which are not affordable to the middle-class population, thus, the high cost of the implants may hamper the growth of the market.
The global cochlear implants market is expected to reach USD 3,203.8 million by 2023 at a CAGR of 9.86% during the forecast period.
On the basis of product, the market is segmented into the cochlear implant system, and accessories & upgrades. The cochlear implant system segment accounted for the largest market share of 77.7% during the forecast period.
On the basis of type, the market is segmented into the unilateral implant and bilateral implant. The bilateral implant market is expected to grow at a CAGR of 10.48% from 2017 to 2023.
On the basis of end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others. The ambulatory surgical centers market is expected to grow at a CAGR of 10.22% from 2017 to 2023.
On the basis of regions, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. Americas captured the largest market share of around 41.1% in 2016 globally.
Advanced Bionics AG, MED-El, Cochlear Ltd, GAES M?DICA, William Demant Holding Group, Widex, and Microson S.A
> To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global cochlear implants market
> To provide insights about factors influencing and affecting the market growth
> To provide historical and forecast revenue of the market segments and sub-segments with respect to countries
> To provide historical and forecast revenue of the market segments based on the product, type, end user, and regions for the global cochlear implants market.
> To provide strategic profiling of key players in the market, and comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market
> To provide economic factors that influence the global cochlear implants market
> To provide detailed analysis of the value chain and supply chain of the global cochlear implants market
> Cochlear implants manufacturers
> Cochlear implants Suppliers
> Cochlear implants Distributors
> Medical Device companies
> Research and Development (R&D) Companies
> Medical Research Laboratories
> Academic Medical Institutes and Universities
> Americas accounted for the largest market share in the global cochlear implants market, USD 610.9 million in 2016 and expected to reach by USD 1,273.0 million by 2023 at the fastest CAGR of 9.40%
> Bilateral Implant type is the fastest growing segment with a CAGR of and 10.48% in the global cochlear implants market, by type
> Accessories & Upgrades segment is growing at a CAGR of 10.27% in the global cochlear implants market, by product
The reports also cover regional analysis
o North America
o South America
o Rest of Europe
> Asia Pacific
o Republic of Korea
o Rest of Asia-Pacific
> Middle East & Africa
o Middle East
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