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
