Global Cochlear Implant (CI) System Market Outlook 2018-2023

The global cochlear implant (CI) system market is expected to display higher growth rate over the next seven years. The cochlear implant (CI) system market is subject to witness a substantial growth due to the rising prevalence of deafness and high-level of noise pollution. Growing prevalence of deafness owing to the increasing incidences related to hereditary disorders, ear infections, birth complications and other factors, are expected to favor market growth over the forecast period. Globally, the cochlear implant (CI) system market is predicted to generate massive revenue over next seven years, providing numerous opportunities for market players to invest for research and development in the cochlear implant (CI) system market.

Geriatric population is more prone towards hearing loss, thereby driving demand for hearing aid products in the market. The recent technological advancement in the healthcare sector and development of novel products such as medical implants and aesthetically appealing miniature devices coupled with growing geriatric population in both developed and developing economies across the globe are expected to drive market growth in the upcoming years.

Growing preference towards to adoption of implantable medical devices by healthcare professional, doctors and physicians for diagnosis purposes is anticipated to foster market growth further. The frequent adoption of medical implants is increasingly found for monitoring as well as diagnosis purposes. Presently, the medical implants industry has witnessed soaring demand owing to the immense advancement in micro & Nano-electronics, electrode technology, and signal processing techniques, thus substantially influencing overall market reach in short duration of time.

As per World Health Organization (WHO), over five percent of the global population currently experiences temporary or permeant hearing impairment. Growing geriatric population, particularly in the developing economies is considered as one of the prominent factor driving demand for cochlear implant (CI) system, in the recent years. While, approximately one-third of the overall population over age of sixty suffers from disabling hearing loss, which is likely boost market growth over the forecast period as well. 

The cochlear implant (CI) system market is broadly categorized into two major segments based on the application type such as unilateral implantation systems and bilateral implantation systems. The is considered as one of the fastest growing segment in the cochlear implant (CI) system market with substantial revenue generation in the last few years. Growing popularity of unilateral implantation systems segment is attributed to the higher market penetration and lower cost of the product. 

The cochlear implant (CI) system market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in healthcare sector, increase in the number of research & development activities in the region and existence of well-established medical infrastructure. 

Asia-Pacific region is predicted to hold major market share in the cochlear implant (CI) system market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with increasing number of awareness programs, rising healthcare expenditure, improved medical infrastructure, increasing per capita income, and significant investment by leading industry players considering potential growth opportunities in the region.

The key players in the cochlear implant (CI) system market are Cochlear Ltd., MED-EL Co., Sonova, Gaes Group AG, William Demant Holding A/S, GN ReSound Co., and Nurotron Biotechnology Company Ltd.

Global cochlear implant (CI) system market is anticipated to grow at a CAGR of 10.6% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application, by products, and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The Global Market for cochlear implant (CI) system to 2023 offers detailed coverage of cochlear implant system industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading cochlear implant system producers to provide exhaustive coverage of the cochlear implant system.

Report contents include
- Analysis of the cochlear implant system market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on cochlear implant system including products, sales/revenues, and market position
- Market structure, market drivers and restraints.

Key Regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key Vendors
- Cochlear Ltd.
- MED-EL Corporation
- Sonova Holding AG
- William Demant Holding
- Hangzhou Nurotron Biotechnology Co Ltd
- Shanghai Listent Medical Tech Co., Ltd
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