The hearing implant market is estimated to capture a valuation of US$ 1,402.1 million in 2023 and is projected to reach US$ 2,937.9 million by 2033. The market is estimated to secure a CAGR of 7.7% during the forecast period.
FMI has identified that Cochlear Ltd, MED-EL, and AB-A Sonova Brand dominate the hearing implant market, as they are accountable for 9 out of 10 sales in the global market. The presence of leading medical instrument manufacturers in North America has fueled the market growth in the region.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 7.7% |
| Market Valuation (2023) | US$ 1,402.1 million |
| Market Valuation (2033) | US$ 2,937.9 million |
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Hearing implants are prosthetic devices used to treat hearing loss and deafness. Hearing loss has become one of the significant disabilities. Hearing loss is of two types, namely, sensorineural and conductive hearing loss.
There are four types of hearing implants to treat hearing loss, namely the cochlear implant, middle ear implant, bone conduction implant, and auditory brainstem implant, which have been included in the report.
Hearing implants are used by patients when hearing aids don't work. Surgical procedures fit the implants. Hearing implants are small complex devices that provide a sense of sound to patients who have profound hearing loss.
The hearing implants consist of two parts: an external portion and the implant surgically placed under the skin. The microphones from the external portion capture the sound. The sound processor selects the good sound from the microphone, which is further converted into electric impulses.
Electrodes collect the impulses and send them to different regions of the auditory nerve. The implant provides a representation of the sound and helps the patient to understand the speech.
The use of hearing implants requires both surgical procedures with post-implantation therapies. Moreover, favorable reimbursements for the surgery have increased the adoption of hearing implants.
Some insurance providers offer 100% insurance, while some offer 50%, which varies depending upon the region and regulations. Besides, the growing senior population in the developed regions is expected to create opportunities for the growth of the hearing implant market.
The market for hearing implants is expected to grow with the upcoming technologies and launch of innovative gadgets, estimated to decrease the prevalence rate and help patients with speech recognition.
The growth of the global market is mainly driven by the growing prevalence of hearing loss and constant efforts by researchers and scientists to enhance patient hearing outcomes.
Furthermore, early implantation in children is also expected to drive the growth of the market. Besides, there are only three leading manufacturers of hearing implants, which is expected to create growth opportunities for the new players planning to invest in the hearing implants market.
Principal Consultant
As per Future Market Insights (FMI), the global market recorded a steady CAGR of 6.8% between 2018 and 2022. The market captured a valuation of US$ 938.1 million in 2018 and US$ 1,305.5 million in 2022.
FMI has reported that a surge in cases of hearing disability among children and the senior population has led to increasing demand for hearing implants and other aids in the last five years.
Early diagnosis and intervention of hearing implants in the younger population below the age of 18 years are anticipated to create opportunities for market growth in the upcoming years. The World Health Organization has predicted that around 700 million people are estimated to experience disabling hearing loss by 2050.
Rapid technological advancement in hearing implants and the introduction of government-approved cochlear implants, bone-anchored devices, and middle-ear implants are estimated to boost market growth.
On June 24, 2021, Oticon Medical announced that the company’s ‘Neuro Cochlear Implant System’ has received premarket approval from United States Food and Drug Administration (FDA). The new implant system is designed to treat bilateral severe-to-profound sensorineural hearing loss in 18 years or older patients and patients with limited hearing ability.
In July 2020, the United States Food and Drug Administration (FDA) approved Cochlear Limited’s three new products in its array of hearing technology solutions. The approval was provided to CochlearTM Nucleus Kanso 2 Sound Processor, Nucleus 7 Sound Processor for Nucleus 22 Implant recipients, and Custom Sound Pro fitting software. The products can provide Bluetooth access, and smartphone connectivity is estimated to enhance hearing performance.
Adopting hybrid hearing implants equipped with wireless connectivity is estimated to propel the demand for hearing implants, especially in children, throughout the forecast period.
Based on product type, cochlear implants dominate the global market by securing a share of 84.14% in the global market by 2033. Patients with less hearing capacity highly adopt a cochlear implant. These implants are electronic devices that improve patients hearing sound and provide a high-quality sense of sound. These implants are designed for the damaged inner ear and stimulate directly to the auditory nerve.
Cochlear implants improve the quality of life and hearing power through their advanced features. Cochlear implants are leading the global market due to emerging advanced technologies, high-quality devices, and enhanced hearing power. Other implants, such as middle ear and bone conduction implants, contribute a significant share of the global market by 2033.
Based on End Users, Hospitals are leading the global market by registering a share of 44.39% in the global market. Hospitals play a significant role in the worldwide market by performing implantation surgeries and ongoing care. A few of the reasons associated with hospitals are as follows:
These are a few common reasons that expand the hospital sector in the global market.
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Country-wise Market Share
| Countries | Current Market Share |
|---|---|
| United States | 23.7% |
| Germany | 6.1% |
| Japan | 6.5% |
Country-wise Market CAGR
| Countries | Current Market CAGR |
|---|---|
| China | 10.8% |
| India | 9.3% |
| United Kingdom | 8.8% |
| Australia | 11.1% |
The global hearing implant market has been segmented based on regions into North America, Latin America, Western Europe, Eastern Europe, and Asia Pacific Excluding China and Japan (APECJ), Japan, and the Middle East & Africa (MEA).
In terms of revenue, North America is projected to be the dominant regional market for hearing implants throughout the forecast period. As manufacturers in the region are developing products that have the potential to treat profound hearing loss by collaborating with other companies and by creating sound processors with double microphones. This is estimated to help the patients to listen better without disturbances and noise.
APECJ, Japan, and China are expected to witness significant growth during the forecast period as manufacturers carry out numerous research and development activities to improve the hearing quality of hearing implants.
The United States is expected to be the dominant market in North America due to a large patient pool (both pediatrics and adults over 65) suffering from various diseases. The United States is securing a share of 23.7% in the global market by 2033.
The United States, Japan, Germany, the United Kingdom, and China contribute a substantial share of the global hearing implant market. Japan is securing a share of 6.5% in the worldwide market by 2033.
A few of the key players operating in the global hearing implants market are Cochlear Ltd., MED-EL, is estimated to Demant Holding A/S, Advanced Bionics AG, Nurotron Biotechnology Co. Ltd., Ototronix, Envoy Medical Corporation, and Medtronic.
Many players operating in the hearing implants market are focused on entering into collaborations and partnerships with other companies to enhance their market presence and technologies globally. These players are focusing on developing innovative products as per consumers' requirements.
The key players continuously expand the global market through advanced technologies by investing in research and development activities. These key players promote and market their products at exhibitions, trade shows, and seminars. They also advertise their products on online platforms, social media, and shopping sites to attract relevant customers are boost sales.
Other Essential Players in the Global Market:
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Product Type, End User, Region |
| Key Companies Profiled | Cochlear Limited; MED-EL; Advanced Bionics; Oticon Medical; MEDTRONIC; Demant Holding Group; Sivantos Pte. Ltd.; Nurotron Biotechnology Co., Ltd; Widex A/S; Starkey Hearing Technologies |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market expanded at a CAGR of 7.7% from 2018 to 2022.
MED-EL, Widex A/S, and MEDTRONIC are the key players in the market.
The adoption of advanced hearing implantation devices may drive market growth.
Players opt for partnerships and collaborations.
A Large Patient pool is estimated to increase the demand.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2023 to 2033 5.3.1. Cochlear Implants 5.3.2. Middle Ear Implants 5.3.3. Bone conduction Implants 5.3.4. Auditory brainstem implant 5.4. Y-o-Y Growth Trend Analysis By Product Type, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Product Type, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End User, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End User, 2023 to 2033 6.3.1. Hospitals 6.3.2. ENT clinics 6.3.3. Ambulatory Surgical Centres 6.4. Y-o-Y Growth Trend Analysis By End User, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By End User, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East & Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 8.2.1. By Country 8.2.1.1. The USA 8.2.1.2. Canada 8.2.2. By Product Type 8.2.3. By End User 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product Type 8.3.3. By End User 8.4. Key Takeaways 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Argentina 9.2.1.4. Rest of Latin America 9.2.2. By Product Type 9.2.3. By End User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product Type 9.3.3. By End User 9.4. Key Takeaways 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. United Kingdom 10.2.1.2. Germany 10.2.1.3. France 10.2.1.4. Italy 10.2.1.5. Spain 10.2.1.6. Rest of Western Europe 10.2.2. By Product Type 10.2.3. By End User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product Type 10.3.3. By End User 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Russia 11.2.1.2. Poland 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Product Type 11.2.3. By End User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product Type 11.3.3. By End User 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Product Type 12.2.3. By End User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product Type 12.3.3. By End User 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Product Type 13.2.3. By End User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product Type 13.3.3. By End User 13.4. Key Takeaways 14. Middle East & Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. Iran 14.2.1.2. Turkey 14.2.1.3. Rest of MEA 14.2.2. By Product Type 14.2.3. By End User 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product Type 14.3.3. By End User 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2022 15.1.2.1. By Product Type 15.1.2.2. By End User 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2022 15.2.2.1. By Product Type 15.2.2.2. By End User 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2022 15.3.2.1. By Product Type 15.3.2.2. By End User 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2022 15.4.2.1. By Product Type 15.4.2.2. By End User 15.5. Argentina 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2022 15.5.2.1. By Product Type 15.5.2.2. By End User 15.6. United Kingdom 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2022 15.6.2.1. By Product Type 15.6.2.2. By End User 15.7. Germany 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2022 15.7.2.1. By Product Type 15.7.2.2. By End User 15.8. France 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2022 15.8.2.1. By Product Type 15.8.2.2. By End User 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2022 15.9.2.1. By Product Type 15.9.2.2. By End User 15.10. Spain 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2022 15.10.2.1. By Product Type 15.10.2.2. By End User 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2022 15.11.2.1. By Product Type 15.11.2.2. By End User 15.12. Poland 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2022 15.12.2.1. By Product Type 15.12.2.2. By End User 15.13. Czech Republic 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2022 15.13.2.1. By Product Type 15.13.2.2. By End User 15.14. Romania 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2022 15.14.2.1. By Product Type 15.14.2.2. By End User 15.15. India 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2022 15.15.2.1. By Product Type 15.15.2.2. By End User 15.16. Bangladesh 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2022 15.16.2.1. By Product Type 15.16.2.2. By End User 15.17. Australia 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2022 15.17.2.1. By Product Type 15.17.2.2. By End User 15.18. New Zealand 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2022 15.18.2.1. By Product Type 15.18.2.2. By End User 15.19. China 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2022 15.19.2.1. By Product Type 15.19.2.2. By End User 15.20. Japan 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2022 15.20.2.1. By Product Type 15.20.2.2. By End User 15.21. South Korea 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2022 15.21.2.1. By Product Type 15.21.2.2. By End User 15.22. Iran 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2022 15.22.2.1. By Product Type 15.22.2.2. By End User 15.23. Turkey 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2022 15.23.2.1. By Product Type 15.23.2.2. By End User 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product Type 16.3.3. By End User 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Cochlear Ltd. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. MED-EL 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. William Demant Holding A/S 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Advanced Bionics AG 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Nurotron Biotechnology Co. Ltd. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Ototronix 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Envoy Medical Corporation 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Medtronic. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Hearing implant Market
