Cochlear Implants Market Report

Cochlear Implants Market Analysis By Type of Fitting (Unilateral Implantation, Bilateral Implantation), By End-Users (Adults, Pediatrics), By Region (North America, Europe, APAC, Latin America, MEA), & Segment Forecasts, 2014 - 2025

Published: March 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-720-9

Industry Insights

The global cochlear implants market size was valued at USD 1.1 billion in 2015 and is projected to grow at a CAGR of 10.5% over the forecast period. This high growth can be attributed to the advancements in cochlear implants, growing penetration of implants due to expanded geographical reach of market players, and government support.

Technological advancements, strategic initiatives by the industry players, and favorable reimbursements for cochlear implantation surgery are the other key drivers of the market. For instance, in November 2015, Advanced Bionics launched a new sound processor Naída CI Q90, which delivers advanced technology in automation, noise reduction, and waterproof protection.

U.S. cochlear implants market by type of fittings, 2014 - 2025 (USD Million)

U.S. cochlear implants market

In May 2016, MED-EL launched a new rechargeable battery for their SONNET Audio Processor. This battery can charge quickly and provides about ten hours life. Hence, development of such devices and growing awareness amongst the patients and physicians are likely to boost the cochlear devices industry during the forecast period.

Type of Fitting Insights

Based on the type of fitting, the market is segmented into unilateral implantation and bilateral implantation. In 2015, unilateral implantation dominated the overall cochlear implant market. The dominance of unilateral implantation is majorly due to a higher demand for the product. Unilateral implantation surgery is conducted at a lower cost as compared to bilateral implant. Furthermore, several studies have observed that unilateral cochlear implant is more cost-effective for adults. Hence, high demand from adult patient population is likely to be responsible for dominance in the industry.

Bilateral implantation is expected to witness the fastest growth during the forecast period. This is attributed to its cost-effectiveness when implanted in children, ability to recognize the speech in noise, and increasing meningitis cases. Furthermore, several countries offer reimbursement only after bilateral implantation. Hence, all these factors may help to enhance the demand of devices and thereby boost the growth of the industry.

End-Users Insights

Cochlear implants for adults segment dominated the overall market in 2015. This can be majorly attributed to the presence of a large patient base and lesser complications involved as compared to children. For instance, according to the U.S. FDA, in 2012, out of 96,000 implanted devices about 58,000 were anticipated to be implanted in adults.

Pediatrics segment is expected to witness the fastest growth during the forecast period. Growing adoption due to increasing awareness, availability of reimbursement, and lesser wait time as compared to adults are the factors that drive the market during the forecast period. Furthermore, after 2000, FDA approved the use of cochlear implant for use in children starting at 12 months of age. Thus, implantation of cochlear implant at an early age further increases the benefits of the device.

Cochlear implants market, by end-users, 2015 (%)

Cochlear implants market

Regional Insights

Europe accounted for the largest share of all the regions in 2015. This can be credited to high penetration of implants, conducive health infrastructure of the European Union, and presence of a large patient base in the region. North America was the second largest market in 2015 and is expected to observe a significant growth in coming years.

Asia Pacific is anticipated to observe the fastest growth over the coming years due to increasing awareness in the region, presence of major players, and government support. Australia, Japan, China, New Zealand, and Singapore are the key markets in the Asia Pacific region. Cochlear Ltd. is a major player headquartered in the Asia Pacific region.

Competitive Insights

Although several players are operating in the industry, dominant share is held by the top two to three companies. Cochlear Ltd. is one of the major companies operating in the market due to wide range of product portfolio, continuous up-gradation & advancements in the product, and a global presence. Some of the key players are Cochlear Ltd., MED-EL, Sonova, Gaes Group, William Demant Holding A/S, and Nurotron Biotechnology Company Ltd.

Geographical expansion and advanced technological developments in cochlear implants to make them efficient & user friendly are the key strategic initiatives taken by major industry players. Furthermore, increasing awareness about the company’s products amongst patients and physicians would help to increase the share of the company. For instance, in August 2014, Advanced Bionics launched two educational apps, which were launched to educate children about hearing loss and to raise awareness about their rehAB range of rehabilitative.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historic data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America,& MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, &South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

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Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the cochlear implants market on the basis of type of fitting, end-users, and region:

  • Type of Fitting Outlook (Revenue, USD Million; 2014 - 2025)

    • Unilateral Implantation

    • Bilateral Implantation

  • End-Users Outlook (Revenue, USD Million; 2014 - 2025)

    • Adults

    • Pediatrics

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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