Dublin, July 19, 2024 (GLOBE NEWSWIRE) — The “US Cochlear Implant Market Size, Share, Trends Analysis Report, Age Group (Adult, Pediatric), End Use (Hospital, Clinic), Region, Segment Forecast, 2024-2030” report has been added. ResearchAndMarkets.com Recruitment.
The U.S. cochlear implant market size is expected to reach USD 940.1 million by 2030, and is expected to grow at a CAGR of 6.08% from 2024 to 2030.
The increasing number of hearing impaired people in the United States and the increasing prevalence of age-related hearing loss are driving the demand for cochlear implants in the US market.
According to the National Institute on Deafness and Communication Disorders (NIDCD), 2-3 out of every 1,000 children in the United States are diagnosed with hearing loss. In addition, approximately 1 out of every 1,000 infants in the country suffers from single-sided sensorineural hearing loss. To help these patients, the U.S. Food and Drug Administration (FDA) approved cochlear implants for children age 5 and older with single-sided hearing loss (SSD) in 2019.
These organizations will increase demand by raising awareness about hearing loss and the benefits of cochlear implants, thus improving understanding of the technology and stimulating market growth.Government initiatives focusing on the value of treatment and discrimination issues caused by people with disabilities, such as expanding coverage of cochlear implants in the United States, will help expand the market.
Highlights from the U.S. Cochlear Implant Market Report
- Based on age group, the adult segment was expected to account for the largest market share of over 64.2% in 2023, owing to the rising prevalence of hearing loss. The pediatric segment is expected to grow at the fastest CAGR from 2024 to 2030.
- Based on end use, the clinic segment accounted for the largest revenue share in 2023. Clinics, especially ENT clinics, are key providers of cochlear implant services, offering expertise in assessing implant candidates, performing surgeries, and providing post-operative care.
- Rising diagnosis rates, growing awareness about hearing loss, increasing demand for binaural hearing aids, and government support programs are some of the factors expected to drive this growth.
- Oticon Medical announced in June 2021 that its product, NeuroSystem, for treating patients aged 18 years and older with severe-to-profound sensorineural hearing loss in both ears, has received premarket approval (PMA) from the U.S. Food and Drug Administration (FDA). These patients will now have a limited opportunity to benefit from wearable technology as the company’s cochlear implant products enter the U.S. market.
Featured Companies
- Cochlear Inc.
- MED-EL Medical Electronics
- Oticon Medical
- Advanced Bionics Corporation
- Sonova Holding AG
- Medtronic
- Neurotron Biotechnology, Inc.
- Z Power LLC
- Widex A/S
Key attributes:
| Report Attributes | detail |
| number of pages | 70 |
| Forecast Period | 2023 – 2030 |
| Estimated market value in 2023 (USD) | $627.7 million |
| Market value forecast to 2030 (USD) | $940.1 million |
| Compound Annual Growth Rate | 6.0% |
| Target area | America |
Key topics:
Chapter 1. Methodology and Scope
Chapter 2 Overview
2.1. Market outlook
2.2. Outlook by segment
2.2.1. Outlook by age group
2.2.2. End-use perspective
2.3. Competitive Insights
3. US Cochlear Implant Market Variables, Trends and Scope
3.1. Market System Outlook
3.1.1. Parent market outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends
3.2.1. Market Driver Analysis
3.2.2. Market restraint analysis
3.3. US Cochlear Implant Market Analysis Tools
3.3.1. Industry Analysis – Porters
PESTEL Analysis
Chapter 4. U.S. Cochlear Implant Market: Age-Based Estimates and Trend Analysis
4.1. Market share by age group, 2023 and 2030
4.2. Segment Dashboard
4.3. U.S. Cochlear Implant Market Outlook by Age
4.4. Market size, forecast and trend analysis, 2018 to 2030
4.5. Adults
Pediatrics
4.6.1. Market estimates and forecasts, 2018-2030 (USD Million) (USD Million)
4.6.2. Adult unilateral implants
4.6.3. Bilateral implants in adults
4.6.4. Pediatric unilateral implants
4.6.5. Bilateral implants in children
5. U.S. Cochlear Implant Market: End-Use Estimates and Trend Analysis
5.1. End-use market share, 2023 and 2030
5.2. Segment Dashboard
5.3. U.S. Cochlear Implant Market Outlook (by Application)
5.4. Market size, forecast and trend analysis, 2018 to 2030
Hospitals
Clinic
6. U.S. Cochlear Implant Market: Regional Forecast and Trend Analysis
6.1. Market share by region, 2023 and 2030
6.2. US Cochlear Implant Market Outlook by Region
6.3. Market size, forecast and trend analysis, 2018 to 2030
Chapter 7 Competitive Environment
7.1. Recent developments and impact analysis by major market participants
7.2. Company/Competitor Classification
7.3. Vendor Status
7.3.1. List of major distributors and channel partners
7.3.2. Major Customers
7.3.3. Major Companies Heatmap Analysis, 2023
7.4. Company Profile
Company Profile
7.4.2. Financial performance
7.4.3. Product Benchmarks
7.4.4. Strategic Initiatives
For more information on this report, please visit: https://www.researchandmarkets.com/r/z9ihbh
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The U.S. cochlear implant market
