Cochlear Implants Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Cochlear Implants Market is projected to register a CAGR of 8.57% during the forecast period

The COVID-19 pandemic has been continuing to transform the growth of various markets, the immediate impact of the outbreak is varied. While a few industries registered a drop in demand, numerous other markets may continue to remain unscathed and show promising growth opportunities. Initially, the outbreak of COVID-19 worldwide and the lockdown situation across some countries have shown some challenges on the market studied, due to hold on services by the hospitals and clinics, in order to prevent the spread of the COVID-19 virus. The study titled “Impact of COVID-19 on the access to hearing health care services for children with cochlear implants: a survey of parents”, in July 2020, evaluated the hurdles faced by cochlear implantee children during the pandemic. The study found that the health services and training for auditory sensation development were delayed.

Furthermore, as per the statistic provided by the World Health Organization (WHO), as of March 2020, there are around 466 million (432 million adults and 34 million children) reported disabling hearing loss globally. It is estimated that by 2050, over 900 million people will have disabling hearing loss. 1.1 billion young people (aged between 12-35 years) are at risk of hearing loss due to exposure to noise in recreational settings. This has created the demand for cochlear implants, which have been the main driving factor for this market.

Further, the burden of hearing impairment in the geriatric population is relatively high, and it is expected to add to the growing burden of hearing impairment. For instance, according to the World Ageing Population report, in 2019, around 703 million people aged 65 years and above were living worldwide. Over the next three decades, this number of older populations is expected to increase more than double, over 1.5 billion by 2050.​ Age-related hearing impairment, called Presbycusis, is caused due to certain changes in the inner ear and auditory nerve. As per the data from the National Institute of Ageing, in July 2018, about one out of three people between 65 and 74 years has difficulty in hearing.

Moreover, technological advancements are also helping these devices to transfer signals more accurately and increase its battery life. However, the high cost of these implants and difficulty in maintenance has been restraining the market growth.

Scope of the Report

As per the scope of this report, cochlear implant converts sound into electrical signals and restore the sense of hearing by performing the work of damaged parts of the cochlea by transmitting the electrical signals to the brain. It is used by people as a hearing aid with low to high hearing loss. These cochlear implants are surgically implanted and consist of two parts. The inside component is implanted across the skin while the other external component is worn at the back of the ear. The cochlear implants bypass the non-functioning part of the inner ear and provide electrical stimulation to the nerve fibers present in the cochlea. The surgical procedure for implantation is performed under general anesthesia with minimal risk. The cochlear implants market is segmented by Type (Unilateral Implantation, Bilateral Implantation), End User (Pediatrics, Adults) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

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Key Market Trends

Unilateral Implantation dominates the Cochlear Implants Market

Unilateral implantations are highly preferred compared to bilateral implantation. The high demand is mainly due to their cost-effectiveness. The use of cochlear implants, in general, is widespread in developed countries.

When health-related quality-of-life was evaluated with generic measures, unilateral cochlear implantation showed significant benefit on the overall health-related quality-of-life and social domains compared to preimplantation measures. Unilateral cochlear implantation restores hearing and promotes auditory development. The growth of the segment is mainly driven by the growing prevalence of hearing loss and the researchers' constant efforts to enhance the hearing outcomes for the patients. According to the study titled “The Outcome of Unilateral Cochlear Implantation in Adults: Speech Recognition, Health-Related Quality of Life and Level of Anxiety and Depression: a One- and Three-Year Follow-Up Study,” in August 2020, a study was conducted for the analysis of unilateral implantation and the results observed that the unilateral implantation helped in improving speech recognition.

Moreover, Technological advancements, along with innovative product launch, are likely to drive the market in coming years. For example FDA approved MED-EL Cochlear Implant for unilateral hearing loss in July 2019.

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