The Europe Cochlear Implants Market would witness market growth of 6.4% CAGR during the forecast period (2019-2025). The Germany market dominated the Europe Cochlear Implants Market by Country 2018, thereby, achieving a market value of $237.6 million by 2025, growing at a CAGR of 8.6 % during the forecast period. The UK market is expected to witness a CAGR of 8.3% during (2019 - 2025). Additionally, The France market is expected to witness a CAGR of 10.8% during (2019 - 2025).
The demand for cochlear implants is motivated by an increase in geriatric inhabitants that contributes to a big range of patients, an increase in product customization and rechargeable cochlear implants. However, high device price, cochlear battery problems, and limited spending on health care restrict the development of the industry. In contrast, recent advances in developing innovative sound processors of the next generation and emerging prospective markets provide profitable market growth possibilities.
The unilateral implantation sub-segment was dominant throughout the market in 2018. This trend can be linked with their low cost when compared to bilateral implantation. Also, the high demand arising from adults is attributed to its cost-effectiveness. Bilateral implantation is the market’s most profitable sector. The main factors anticipated to boost the market throughout the forecast period are increased demand, the capacity to recognize speech in noise, and decent reimbursement.
Market growth of cochlear implants can be ascribed to a favorable reimbursement situation, increased awareness of hearing aids, and increased implant adoption. Besides, technological advances in cochlear implants to render the instrument more effective and user-friendly can increase the demand. And this is expected to propel the market growth during the forecast period. Because of the proximity of cochlear implant surgery to several essential parts of the inner ear, some patients report a post-operative sense of imbalance or vertigo. There have been numerous reasons, including the vibrations caused by drilling during surgery that patients may suffer from vertigo after the surgery. And this can be a major restraining factor for market growth.
Based on Fitting Type, the market is segmented into Unilateral Implantation and Bilateral Implantation. Based on End Use, the market is segmented into Pediatrics and Adults. Based on Regions, the market is segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include MED-EL GmbH, Sonova Holding AG, William Demant Holding A/S, Starkey laboratories Inc., GN Store Nord A/S (GN Hearing A/S), Amplifon SpA (Ampliter N.V.), Widex A/S, Oticon Medical AB, Cochlear Ltd., Medtronic PLC.
Scope of the Study
By Fitting Type
- Unilateral Implantation
- Bilateral Implantation
By End Use
- Rest of Europe
- MED-EL GmbH
- Sonova Holding AG
- William Demant Holding A/S
- Starkey laboratories, Inc.
- GN Store Nord A/S (GN Hearing A/S)
- Amplifon SpA (Ampliter N.V.)
- Widex A/S
- Oticon Medical AB
- Cochlear Ltd.
- Medtronic PLC
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