Dublin, July 19, 2024 (GLOBE NEWSWIRE) — The “U.S. Cochlear Implants Market Size, Share & Trends Analysis Report by Age Group (Adult, Pediatric), End-use (Hospitals, Clinics), Region, and Segment Forecasts, 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The U.S. cochlear implants market size is anticipated to reach USD 940.1 million by 2030, growing at CAGR of 6.08% from 2024 to 2030
The number of individuals with hearing impairments and the increasing prevalence of age-related hearing loss in the U.S. is driving the demand for cochlear implants in the U.S. market.
According to the National Institute of Deafness and Other Communication Disorders (NIDCD), 2 to 3 out of every 1000 children have hearing loss that can be identified in the U.S. It also stated that roughly 1 in 1000 live infants are affected by sensorineural unilateral hearing loss in the country. The U.S. Food and Drug Administration (FDA) authorized cochlear implantation in 2019 for children with single-sided deafness (SSD) who were five years or older to help these patients.
By raising awareness about hearing loss and the benefits of cochlear implants, these organizations increase demand and promote a better understanding of the technology, which would drive the market’s growth. Government initiatives focusing on therapeutic value and discriminatory issues spurred by people with impairments, such as expanded coverage for cochlear implants in the U.S. promote market expansion.
U.S. Cochlear Implants Market Report Highlights
- Based on age group, the adult segment held 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 clinics segment accounted for the largest revenue share in 2023. Clinics, particularly ENT clinics, are essential providers of cochlear implant services, offering expertise in evaluating candidates for implants, conducting surgeries, and providing post-operative care
- The rising diagnosis rates, growing awareness of hearing impairment, growing desire for bilateral fittings, and supportive government programs are some factors expected to drive this growth.
- In June 2021, Oticon Medical announced that the Neuro System, the company’s product for treating individuals 18 years of age or older with bilateral severe-to-profound sensorineural hearing loss, has received premarket approval (PMA) from the U.S. Food and Drug Administration (FDA). These individuals stand to benefit limitedly from wearable technology, by entering the U.S. market with its cochlear implant products.
Companies Featured
- Cochlear Ltd
- MED-EL Medical Electronics
- Oticon Medical
- Advanced Bionics Corporation
- Sonova Holding AG
- Medtronic
- Nurotron Biotechnology Co., Ltd
- ZPower, LLC
- Widex A/S
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 70 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $627.7 Million |
| Forecasted Market Value (USD) by 2030 | $940.1 Million |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | United States |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Age Group Outlook
2.2.2. End-use Outlook
2.3. Competitive Insights
Chapter 3. U.S. Cochlear Implants Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.2. Market Restraint Analysis
3.3. U.S. Cochlear Implants Market Analysis Tools
3.3.1. Industry Analysis – Porter’s
3.3.2. PESTEL Analysis
Chapter 4. U.S. Cochlear Implants Market: Age Group Estimates & Trend Analysis
4.1. Age Group Market Share, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Cochlear Implants Market by Age Group Outlook
4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.5. Adult
4.6. Pediatric
4.6.1. Market Estimates and Forecasts, 2018-2030 (USD Million) (USD Million)
4.6.2. Adult Unilateral Implants
4.6.3. Adult Bilateral Implants
4.6.4. Pediatric Unilateral Implants
4.6.5. Pediatric Bilateral Implants
Chapter 5. U.S. Cochlear Implants Market: End-use Estimates & Trend Analysis
5.1. End-use Market Share, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. Cochlear Implants Market by Application Outlook
5.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030
5.4.1. Hospitals
5.4.2. Clinics
Chapter 6. U.S. Cochlear Implants Market: Region Estimates & Trend Analysis
6.1. Regional Market Share, 2023 & 2030
6.2. U.S. Cochlear Implants Market by Region Outlook
6.3. Market Size & Forecasts and Trend Analyses, 2018 to 2030
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, by Key Market Participants
7.2. Company/Competition Categorization
7.3. Vendor Landscape
7.3.1. List of Key Distributors and Channel Partners
7.3.2. Key Customers
7.3.3. Key Company Heat Map Analysis, 2023
7.4. Company Profiles
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
For more information about this report visit https://www.researchandmarkets.com/r/z9ihbh
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- U.S. Cochlear Implants Market
