Asia Pacific Cochlear Implants Market

The Asia Pacific Cochlear implants market is expected to reach US$ 833.1 Mn in 2027 from US$ 291.6 Mn in 2018. The market is estimated to grow with a CAGR of 12.5% from 2019-2027.

The growth of the market is driven by factors such as the rising number of the elderly population in the Asia Pacific and the increasing incidence of hearing loss in the Asia Pacific region whereas the high cost associated with cochlear surgery is likely to have a negative impact on the growth of the market in the coming years.

Hearing loss among the old age population is a growing public health concern worldwide. As per the United Nations, Economic and Social Commission for Asia and the Pacific (ESCAP) report on aging, around one in four people in the Asia Pacific region will be 60 years old or more by 2050. The report mentioned that the number is expected to double from 535 million in 2015 to around 1.3 billion in 2050. Furthermore, it also reported that the oldest population (80 years or older) is also rising. The oldest population in 2016 was 1.5 percent (68 million) of the total population. This proportion is estimated to triple to 5.0% (258 million) by 2050.

Furthermore, as per the Population Census 2011, the number of old age people in India was 104 million. However, the United Nations Population Fund and HelpAge India report are estimated to grow to 173 million by 2026. Similarly, China’s population is aging at a much faster rate than other low- and middle-income countries in the Asia Pacific region. The world health organization’s China country assessment report on aging and health reported that the number of people aged 60 years and over would increase from 12.4% in 2010 to 28% in 2040.

The elderly people are more likely to have a hearing disorder than younger people, and the outcome of the disability on quality of life is particularly deep in this population. Thus, with an increase in the number of an aging population, the prevalence of hearing disorders has increased. Therefore, the demand for cochlear implants is expected to increase during the forecast period.

The rising number of the geriatric population in India is expected to drive cochlear implants market growth as they are more prone to hearing disorders. India's cochlear implant devices market offers a lucrative future opportunity due to the presence of a large number of patient population and low market penetration. The expenses for cochlear implant surgery is less in India as compared to other countries such as U.S., UK, UAE, and others. The low surgery costs attract a large number of medical tourists leading to a high device demand. Thus, creating lucrative opportunities and the presence of an established market for cochlear implants.

Rest of Asia Pacific Cochlear implants market Revenue and Forecasts to 2027 (US$ Mn)

Asia Pacific Cochlear Implants Strategic Insights

Strategic insights for the Asia Pacific Cochlear Implants provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Cochlear Implants Report Scope

Asia Pacific Cochlear Implants Regional Insights

The geographic scope of the Asia Pacific Cochlear Implants refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

ASIA PACIFIC COCHLEAR IMPLANTS – MARKET SEGMENTATION

By Type Of Fitting

• Unilateral Cochlear Implantation
• Bilateral Cochlear Implantation

ASIA PACIFIC COCHLEAR IMPLANTS – MARKET SEGMENTATION

By End User

• Adults
• Pediatrics

By Country

• France
• Germany
• U.K.
• Spain
• Italy

Companies Mentioned

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