Cochlear Implants Market information: By Product (Cochlear Implant Systems and Accessories & Upgrades), By Type (Unilateral Implant and Bilateral Implants), By End Users (Hospitals & Clinics, Ambulatory Centers, Research & Academic Institutes) – Forecast till 2027
Cochlear Implants Market Overview
The global cochlear implants market is expected to exhibit a stable 9.86% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global cochlear implants market is expected to reach USD 3.2 billion by 2023, according to the report. The report presents a detailed overview of the global cochlear implants market, providing studied forecasts for the market’s likely growth trajectory over the forecast period. The major drivers and restraints affecting the global cochlear implants market are also highlighted in the report for the benefit of the reader. Thus, a detailed cochlear implant market overview is provided to the reader.
Get Request Free Sample @ https://www.marketresearchfuture.com/sample_request/5256
Cochlear implants are implants placed inside a patient’s ear for better hearing. The growing awareness about hearing loss and the availability of various devices for bettering hearing loss is the major driver for the global cochlear implants market. In the past, many patients suffering from hearing loss would suffer in silence due to the large, protuberant hearing aids present in the market, which were deemed to be too embarrassing to be seen with. However, with the availability of smaller implants, patients are now much more ready to undergo implantation procedures than before, leading to a growing demand for cochlear implants. This is likely to remain a key driver for the global cochlear implants market over the forecast period, as making cochlear implants smaller and less conspicuous is a major direction for research for major companies operating in the market.
The growing geriatric population in the world is also likely to be a major driver for the global cochlear implants market. Geriatrics are most likely to suffer from hearing loss, as age-related degeneration of the ear can often lead to hearing loss. Geriatrics are also often financially capable of being able to afford expensive cochlear implants, which may go up in price to more than USD 100,000. This is a major driver for the global cochlear implants market. On the other hand, the high prices of cochlear implants are a major restraint on the market, as this eliminates patients in the lower income groups, as they can’t afford the expensive cochlear implant. This is likely to remain the major restraint on the global cochlear implants market, especially in developing regions such as Asia Pacific and Latin America.
Cochlear Implants Market Segmentation:
The global cochlear implants market is segmented on the basis of product, type, end use, and region.
By product, the global cochlear implants market is segmented into cochlear implant system, and accessories and upgrades. The cochlear implant system segment dominates the global cochlear implants market and is likely to remain the leading revenue generator over the forecast period.
By type, the global cochlear implants market is segmented into unilateral and bilateral implants.
By end use, the global cochlear implants market is segmented into hospitals and clinics, ambulatory surgical centers, research and academic institutes, and others. The hospitals and clinics segment dominates the global cochlear implants market.
Cochlear Implants Market Regional Analysis:
The Americas account for the largest share in the global cochlear implants market and is likely to remain the leading revenue generating regional market over the forecast period. The high disposable income of geriatric consumers in North America is the major driver for the Americas market for cochlear implants.
Europe is the second largest regional market for cochlear implants, followed by Asia Pacific.
Leading players in the global cochlear implants market include Microson SA, Widex, William Demant Holding Group, Gaes Medica, Cochlear Ltd., Med-El, and Advanced Bionics AG. Many leading players in the cochlear implants market are situated in Europe, which is likely to remain a major driver for the cochlear implants market in the region. Product advancement and development is likely to be a major target for players in the global cochlear implants market, as developing smaller, less conspicuous hearing aids is a highly profitable strategy for players in the global cochlear implants market.
Table Of Contents
1 Report Prologue
2 Market Introduction
2.1 Definition 14
2.2 Scope Of Study 14
2.3 Research Objective 14
2.4 Assumptions & Limitations 14
2.4.1 Assumptions 14
2.4.2 Limitations 14
2.5 Market Structure 15
3 Research Methodology
3.1.1 Primary Research Methodology 17
3.1.2 Secondary Research Methodology 18
3.1.3 Market Share Analysis 18
3.1.4 Market Pricing Approach
4 Market Dynamics
4.1 Introduction 20
4.2 Drivers 21
4.2.1 Increase In Number Of Patients Suffering From Hearing Loss (Weightage 37%) 21
4.2.2 Rising Geriatric Population (Weightage 28%) 22
4.2.3 Acceptance Of Hearing Implants By The Patients With Hearing Disorders (Weightage 22%) 23
4.2.4 Favourable Reimbursement Policies (Weightage 13%) 24
4.3 Restraints 25
4.3.1 High Cost Of The Devices 25
4.4 Opportunity 26
4.5 Trends 26
5 Cochlear Implants Market, By Product
5.1 Introduction 27
5.2 Cochlear Implant System 28
5.3 Accessories & Upgrades
6 Cochlear Implants Market, By Type
6.1 Introduction 30
6.2 Unilaterals Implant 31
6.3 Bilateral Implant 32
7 Cochlear Implants Market, By End User
7.1 Introduction 33
7.2 Hospitals & Clinics 34
7.3 Ambulatory Surgical Centers 35
7.4 Research & Academic Institutes 36
8 Global Cochlear Implants Market, By Region
8.1 Introduction 37
8.2 Americas 39
Browse Complete Report@ https://www.marketresearchfuture.com/reports/cochlear-implants-market-5256
You Can See More Reports!!
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Market Research Future
+1 628 258 0071(US)
+44 2035 002 764(UK)