Focus On Medtech Sectors With Healthy Growth: Cochlear Implants

Posted by Life Science Intelligence on Aug 7, 2019 5:44:40 AM
Find me on:

A comprehensive understanding of past and potential market performance is essential before developing, investing in, or managing any medtech product at market. Informed decisions will make sure your product has a place in the market and will lead to more seamless integration with existing medical technologies.

This series will take a look at some of the healthiest growing medtech sectors, highlighting areas that are ripe for disruption, starting with cochlear implants. Implants help “translate” sounds into electric signals that the brain can read, and are implanted surgically under general anesthesia.

High-growth sectors will typically include those that will impact the most significant number of people. When it comes to hearing impairments and loss, the National Institute of Health (NIH) estimates that almost 200,000 people around the world are fitted with implants, yet the World Health Organization (WHO) reports that nearly 450 million people have hearing loss or impairment. Even more astounding, this number is expected to reach over 900 million people by 2050.

image of speakerphones and sound against white background

Global Market Size

Given the prevalence of hearing impairments around the world, cochlear implants are poised to be a consistently growing industry, with the market nearing $1.2 billion in 2018.  

Growth Rates

Given the expected rise in hearing impairments around the world, the cochlear implants market is anticipated to grow steadily at 8-10% each year.

Geographic Sales

The main focus of the cochlear implants industry historically has been the United States and Western Europe. However, as markets in Asia and Latin America expand, there are greater opportunities for further growth. And because hearing loss knows no borders, developing countries are in particular need of technologies appropriate for their populations.

Top Market Players

Cochlear, Ltd. Is the dominant player in the cochlear implants market, but smaller startup companies are finding success in niche areas.

Topics: Medtech

Stay connected with our latest posts:

About the Author

Life Science Intelligence (LSI) helps medtech executives make better strategic decisions by delivering unique market data and business insights. For over 13 years LSI has been working with industry giants – Johnson & Johnson, Medtronic, Abbott, Stryker, Cardinal, Boston Scientific, and Becton Dickinson, among others. LSI products are also leveraged by the most successful start-ups, innovators, investors, and service companies that compete in medtech. LSI is the organizer of The Emerging Medtech Summit held annually in Southern California.

Contact LSI here, via phone 714 847 3540, or email info@lsintel.com