The Cochlear Implant Global Market Report 2023, provides comprehensive information on the cochlear implant market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global cochlear implant market is expected to grow from $1.56 billion in 2022 to $1.71 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cochlear implant market is expected to reach $2.36 billion in 2027 at a CAGR of 8.4%.
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Product innovation is a key trend gaining popularity in the cochlear implant market. Major companies operating in the cochlear implant market are developing innovative products to sustain their position in the market. For instance, in July 2020, Cochlear Limited, an Australia-based medical device company, got FDA (Foods and Drugs Association) approval for Cochlear Nucleus Kanso 2 Sound Processor, Nucleus 7 Processor for Custom Sound Pro fitting software and receivers of Nucleus 22 Implants. The Kanso 2 Sound Processor is the first and only off-the-ear cochlear implant sound processor to allow direct streaming from compatible Apple or Android smartphones. It is also the smallest off-the-ear cochlear implant sound processor in the world. Additionally, it works with the Nucleus Smart App, making it possible to adjust device settings and access information and hearing functions. The Kanso 2 Sound Processor has novel charging choices, including a built-in rechargeable battery2. This all-in-one home charger enables simultaneous charging, drying, and storing, and a tiny, optional portable charger for traveling.
The cochlear implant market is segmented:
1) By Type: Unilateral Implants, Bilateral Implants
2) By Technology: Electro-Acoustic Stimulation (EAS), Acoustic Amplification Technology, Electro-Stimulation Technology
3) By Patient: Adult, Pediatric
4) By End-use: Hospitals, ENT (Ear, Nose, And Throat) Clinics, Ambulatory Surgical Centers
North America was the largest region in the cochlear implant market in 2022.
The table of contents in TBRC’s cochlear implant market report includes:
- Executive Summary
- Cochlear Implant Market Characteristics
- Cochlear Implant Market Trends And Strategies
- Cochlear Implant Market – Macro Economic Scenario
- Cochlear Implant Market Segmentation
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- Global Cochlear Implant Market Competitive Benchmarking
- Global Cochlear Implant Market Competitive Dashboard
- Key Mergers And Acquisitions In The Cochlear Implant Market
- Cochlear Implant Market Future Outlook and Potential Analysis
- Appendix
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