Fact.MR – A Market Research and Competitive Intelligence Provider: The market demand for Cochlear Implant is expected to rise steadily on the back of growing public awareness, breakthroughs in cochlear implants, increasing implant penetration due to market participants extended geographical reach, and favourable government efforts.
Unilateral Implants to Continue Being the Fitting Type with Significant Opportunity with Over 14% Projected Growth during 2022 – 2032
“Several government and non-governmental initiatives to fund research and improve cochlear implant usage are projected to boost market growth in the future years.” says a Fact.MR analyst.
Fact.MR – A Market Research and Competitive Intelligence Provider: The market demand for Cochlear Implant is expected to rise steadily on the back of growing public awareness, breakthroughs in cochlear implants, increasing implant penetration due to market participants extended geographical reach, and favourable government efforts. According to the study, the global Cochlear Implant market was valued at the US$ 2.2 Bn in 2021, and it is also expected to expand at a CAGR of 14.1% over the assessment period of 2022-2032 to 9 Bn. Being cost effective, unilateral implants market show significant potential and is projected to register a growth rate of over 14%.
Cochlear implants market is dominated by companies including Cochlear Ltd., Sonova, MED-EL Medical Electronics, Demant A/S, Nurotron Biotechnology Co. Ltd. North American region dominates the Cochlear Implant market owing to government’s support for the cochlear implants’ development, presence of technologically advanced healthcare system, easy access to high-quality medical facilities, and hearing difficulties. Also, the market in APAC is expected to grow at the fastest rate throughout the projection period due to the increasing government funding and investment in healthcare sector and development of advanced healthcare facilities.
Unilateral Implants segment is forecasted to grow at the highest CAGR of over 14.3% during 2022-2032. This growth is due to easier reimbursement of these devices, comparatively cheaper than bilateral implants, shorter duration of surgery, and low requirement of anaesthesia.
Want A Detailed Understanding of Cochlear Implant Market? Request for a Sample Here
https://www.factmr.com/connectus/sample?flag=S&rep_id=7244
Adult segment commanded the largest revenue growing at a CAGR of 14.4% through the forecast period of 2022-2032. This is due to the fact that elderly is the largest affected part of the population.
COVID-19 established limitations on audiology surgery and therapy services when it first appeared. The possibility of aerosolizing the virus while drilling in the mastoid cavity increased the danger of infection during neurotological (a subset of ENT) procedures. As a result, individuals were screened for COVID-19 prior to surgery, which caused procedures to be postponed. In addition, appointments for the rehabilitation phase following a cochlear implant operation were cancelled or postponed.
Key Takeaways from Market Study
- The Cochlear Implant market is anticipated to add 3.7X value by 2032.
- The market is expected to expand at a considerable growth rate of 14.1% and be valued at US$ 9 Bn by 2032.
- Based on end-use, adult segment accounted for majority of the global Cochlear Implants market share in 2021.
To gain in-depth insights on Cochlear Implant Market Report, request methodology at
https://www.factmr.com/connectus/sample?flag=RM&rep_id=7244
Competition Analysis
Cochlear Ltd., Sonova, MED-EL Medical Electronics, Demant A/S, Nurotron Biotechnology Co. Ltd. are the top companies in Cochlear Implant manufacturing.
- In April 2022, Cochlear Limited designed Cochlear Nucleus Implants for the treatment of unilateral hearing loss (UHL) or single-sided deafness have been approved by the United States Food and Drug Administration (US FDA) (SSD). Product launches and research initiatives aimed at expanding product portfolios are the primary strategic initiatives pursued by these companies in order to increase market share.
Market Segments Covered in Cochlear Implant Market Analysis
By Fitting Type
- Unilateral Implants
- Bilateral Implants
By End-Use
- Adult
- Pediatric
By Region
- North America
- Latin America
- Europe
- APAC
- MEA
Get Customization on this Report for Specific Research Solutions
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7244
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global Cochlear Implant market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by fitting type (Unilateral Implant and Bilateral Implant), by end-use (Adult and Pediatric) and across key regions (North America, Latin America, Europe, APAC and MEA).
Fact.MR’ Domain Knowledge in Healthcare Division
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare domain team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analysed the Healthcare industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services.
Check out more studies related to Healthcare Industry, conducted by Fact.MR:
Drug Discovery Services Market Outlook (2022-2032) - The drug discovery services market is forecasted to reach US$ 50 Billion by 2032, up from US$ 19 Billion in 2022, at a CAGR of 10.1%.
Lab Automation Market Outlook (2022-2032) - Demand for lab automation services experienced a Y-o-Y expansion rate of over 11% in 2022 compared to 2021, rising from US$ 1.8 Billion to US$ 2 Billion.
Blood Flow Measurement Devices Market Outlook - The blood flow measurement devices market is predicted to grow at a fair CAGR of 8.2% during the projected period of 2022 to 2032. The Blood flow measurement devices market share is estimated to be worth more than US$ 1.3 Billion by 2032, increasing from US$ 583 Million in 2022.
Bipolar Disorder Therapeutics Market Outlook (2022-2026) - Demand for bipolar disorder therapeutic drugs is projected to increase at a CAGR of 3.1% from 2022 to 2026.
Sepsis Diagnostics Market Outlook (2022-2032) - The global sepsis diagnostics market is expected to grow at a CAGR of 8% from 2022 to 2032.
NGS Sample Preparation Market Outlook (2022-2032) - Sales of NGS sample preparation products were valued at US$ 3.8 Billion in FY 2021, and is likely to exhibit a Y-o-Y increase of 10.5% in 2022, reaching US$ 4.2 Billion.
Central Nervous System (CNS) Therapeutics Market Outlook (2022-2026) - The CNS therapeutics market stands at a valuation of US$ 116.7 Bn in 2022, and is expected to reach US$ 142.1 Bn by the end of 2026. CNS drug sales are projected to rise at a steady CAGR of 4.9% from 2022 to 2026.
Induced Pluripotent Stem Cell (iPSC) Market Outlook (2022-2026) - The global induced pluripotent stem cell (iPSC) market stands at a valuation of US$ 1.8 Bn in 2022, and is projected to climb to US$ 2.3 Bn by the end of 2026.
Tumor Necrosis Factor (TNF) Inhibitors Market Outlook (2021-2027) - Consumption of tumor necrosis factor inhibitors is expected to rise at a CAGR of 1.3% from 2021 to 2027. In 2020, the global tumor necrosis factor (TNF) inhibitors market was valued at US$ 41.6 Bn, and is anticipated to reach a valuation of US$ 45.5 Bn by the end of 2027.
Newborn Screening Market Outlook (2022-2032) - The global newborn screening market is likely to be valued at US$ 520 Million in FY 2022, up from US$ 480 Million in 2021.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-158