Cochlear Implants Market Is Expected To Grow with a Healthy CAGR 11.9% to Hit US$ 4,124.1 million in 2027

The Cochlear Implants Market was valued at US$ 1,510.9 million in 2018 and it is projected to reach US$ 4,124.1 million in 2027; it is expected to grow at a CAGR of 11.9% from 2019 to 2027.

A cochlear implants are electronic devices that help in restoring hearing. These devices are used by people having severe hearing loss from inner-ear damage and who receive limited benefit from hearing aids. A cochlear implant bypasses damaged areas of the ear thereby delivering sound signals to the auditory nerve. A sound processor, fitting behind the ear, captures sound signals and transmits them to a receiver implanted under the skin behind the ear. Thereafter, the receiver sends the signals to electrodes implanted in the cochlea. The growth of the global cochlear implants market is attributed to the growing geriatric population, increase in the number of patients suffering from hearing loss, and increasing R&D expenditure in medical device companies. However, high cost of cochlear implants and side effects associated with the cochlear surgery are the major factor hindering the market growth.

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Top Key Players:
• Cochlear Ltd.
• MED-EL
• Sonova
• Nurotron Biotechnology Co. Ltd.
• Demant A/S
• Starkey
• Amplifon
• Medtronic
• WIDEX A/S
• GN Hearing A/S

Global Cochlear Implants Market – by Type of Fitting
• Unilateral Cochlear Implantation
• Bilateral Cochlear Implantation

Global Cochlear Implants Market – by End- User
• Adults
• Pediatrics

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries including Biotechnology, medical devices, pharma Industry, and many more. Trade barriers are further restraining the demand- supply outlook. As government of different regions have already announced total lockdown and temporarily shutdown of industries, the overall production process being adversely affected; thus, hinder the overall Cochlear Implants market globally. This report on ‘Cochlear Implants market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The report also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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Asia Pacific inspired the maximum income in the Market in coming year due to the growing youth population active in online media in India. Market is divided into North America, Central and South America, Western Europe, Eastern Europe, Japan, Asia Pacific (APEJ) and the Middle East and Africa (MEA). The research objective is to present Cochlear Implants Market development in the US, Europe and China.

Competitive landscape of the global Cochlear Implants Market has been elaborated by describing the leading key players operating in the global regions. The finding of this statistical report not only helps to get directions for improving the growth of the companies but will also help to plan the future expansions. It also discusses the various strategies and standard operating procedures implemented by the top level companies.

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This release was published on openPR.