Global Cochlear Implants Market By Type of Fitting (Unilateral Implantation, Bilateral Implantation), End-Users (Adults, Pediatrics), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Analysis: Global Cochlear Implants Market

Global cochlear implants market is expected to rise to an estimated value of USD 10.54 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the various advancements in technology and innovations leading to unique/customized product variants for patients.

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Market Drivers
• Increasing numbers of patients worldwide suffering from hearing loss is expected to augment the growth of this market
• Increasing presence of government initiatives and programs to improve the healthcare systems for hearing loss in patients is also expected to drive the growth of this market
• Growing case of medical tourism by patients is also expected to boost the adoption rate from the developing regions of the world
• Rising levels of population belonging to the geriatric group resulting in greater patient pool for hearing aids and implants globally is also enhancing the market growth

Market Restraints
• Large costs associated with the device is expected to restrict the growth of the market
• Complications in the battery life of the device as well as its maintenance costs reducing the rate of adoption for the product is expected to restrict the growth of the market
• Lack of wide-spread awareness regarding the availability and presence of the product from various developing regions is expected to restrict the growth of the market


Market Definition: Global Cochlear Implants Market

Cochlear implants are medical devices that act as hearing aids for the treatment of severe hearing loss in patients. These implants are utilized when conventional hearing aids cannot function properly/treat patients who suffer from absence of cochlear hair cell function. These implants are surgically fitted in patients replacing the ineffective cochlea while stimulating the auditory nerve, deeming the patient to hear everything.

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Segmentation: Global Cochlear Implants Market
By Type of Fitting
• Unilateral Implantation
• Bilateral Implantation
By End-Users
• Adults
• Pediatrics

Competitive Analysis:
Global cochlear implants market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cochlear implants market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global cochlear implants market are Cochlear Ltd.; Sonova; MED-EL Medical Electronics; GAES; Demant A/S; Nurotron Biotechnology Co. Ltd.; Amplifon and GN Hearing among others.

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